What is the global market size of E-pharmacy Market?

E-pharmacy Market size was valued at USD 52 billion in 2021 and is poised to grow from USD 62.14 billion in 2022 to USD 308.8 billion by 2030, growing at a CAGR of 19.5% in the forecast period (2023-2030).

E-pharmacy Market Size, Share, Growth Analysis, By Drug(Prescription Drugs, Over-the-Counter (OTC)), By Product Type(Skin Care, Dental, Cold, Flu), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35C2003 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 66 | Figures: 75

E-pharmacy Market News

In January 2022, To be radically transparent, venture capitalist Mark Cuban launched a digital pharmacy that sells more than 100 generic pharmaceuticals at low prices.
In March 2022, Pixel by Labcorp, a (COVID-19 at-home collection kit), PCR test, was introduced by Walgreens and Labcorp, a prominent global life sciences firm. Furthermore, because Walgreens includes the kits, which are supplied in collaboration with the US Department of Health and Human Services, many communities can easily obtain testing services (HHS).
In January 2022, WellAway ePharmacy has been launched in Singapore by Hyphens Pharma International Limited, the city-largest state's specialty pharmaceutical, and consumer healthcare company. WellAway simplifies access to pharmaceutical services for customers while also assisting doctors with teleconsultation.

E-pharmacy Market Report Snapshots

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E-pharmacy Market size was valued at USD 52 billion in 2019 and is poised to grow from USD 62.14 billion in 2023 to USD 308.8 billion by 2031, growing at a CAGR of 19.5% in the forecast period (2024-2031).

The e-pharmacy business is relatively competitive, with only a few firms now ruling the roost. CVS Health Corporation, Albertsons Companies Inc., ALTO, and Axelia Solutions (Pharmeasy) are among the market's leading players. These firms are implementing different marketing methods in order to capture a larger portion of the e-pharmacy market, as well as focusing on growing their geographic presence, particularly in developing countries with attractive potential. 'DocMorris', 'Medlife International Pvt. Ltd.', 'Walmart stores', 'CVS Health Corporation', 'Walgreen Co. (Walgreens Boots Alliance, Inc.)', 'Rite Aid Corporation', 'Amazon.com, Inc.', 'The Kroger Co.', 'Rowlands Pharmacy', 'Netmeds Marketplace Limited', '1mg Technologies Private Limited', 'Walgreens Boots Alliance, Inc.', 'Chemist Warehouse Group', 'Apollo Pharmacy', 'LloydsPharmacy Limited', 'Zur Rose Group AG', 'Walgreens Boots Alliance, Inc.', 'SHOP APOTHEKE EUROPE N.V.', 'SANICARE Group', 'Phoenix Group Holdings'

E-pharmacy market is growing in demand as it provides customers to purchase pharmaceuticals from authorized distributors and well organized e-commerce platforms. This service mitigates the issues of buying poor and counterfeit products from illegal distributors.

One of the main trends that is driving the market is the increased demand and adoption of telemedicine. Individuals who have an affinity to IT are the ones who use telemedicine. With the help of this there is more transparency, awareness and access to several health care providers. This is one reason which is supporting the growth of the market.

In terms of revenue generation, the online pharmacy sector in North America is the most profitable. Because of the ease with which a broad variety of drugs may be bought, rising internet penetration is one of the region's development drivers, resulting in quick acceptance of new technologies as well as a need for digital health platforms. The presence of local online pharmacy providers as well as large industry players in the region will also contribute to market expansion.

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E-pharmacy Market Size, Share, Growth Analysis, By Drug(Prescription Drugs, Over-the-Counter (OTC)), By Product Type(Skin Care, Dental, Cold, Flu), By Region - Industry Forecast 2024-2031

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