People are getting used to online shopping as it is getting easier day by day which in turn, is driving the growth of epharmacy market across the globe.
According to the latest Arizton’s market research report, the online pharmacy market size to reach around USD 131 billion by 2025, growing at a CAGR of over 20% during the forecast period.
Epharmacy Market Growth
The growing internet penetration and the rising rate of chronic diseases in developed countries have paved the way for the development of epharmacy market in recent years. Health systems have recognized the potential of digital health services for improving care delivery and reducing costs. E-prescriptions are important in the new digital health system because prescribing and dispensing medication is an everyday activity that is time-consuming and costly. Epharmacy market is providing competitive pricing with offline pharmacy. They are also able to show large product offerings in their online stores as there is no limitation of storage. The players in the epharmacy market have an opportunity to give their online platform as advertising space on rent, which will allow different parties such as manufacturers, laboratories, clinics, hospitals to do their promotion on these websites. Online shopping cuts down the long chain of distributors and directly provide medication to the end-users at a lesser price. People are getting used to with the online shopping as it is getting easier day by day which in turn, is driving the growth of epharmacy market across the globe.
Epharmacy Market – Geographic Analysis
The epharmacy market is trending in most of the developing and developed countries in Europe. France and Italy are highly established markets that contribute to significant shares in the European market. In Europe, people are getting more inclined towards making online payment instead of cash payment and are finding online shopping more convenient, resulting in a positive scenario for the adoption of epharmacy market. The epharmacy market in Europe is concentrated in the countries of Germany, the UK, and France with many vendors. The use of e-prescription is an important policy to improve health care in Europe. The aim of these policy is to have a cross-border electronic healthcare system that will enable citizens to obtain and use e-prescriptions anywhere in Europe.
In Europe, the competitive environment is expected to intensify in the epharmacy market with an increase in services provided, technological up-gradation, and M&As. In the Netherlands, brick and mortar pharmacy is growing at a slow rate, providing a great opportunity for online pharmacy companies to grow. The entry of major online pharmacies to expand in Europe and around the world has led them to acquire many renowned companies in the market. The Swiss Zur Rose Group is a leading online pharmacy in Europe and one of the leading medical wholesalers in Switzerland. The Zur Rose Group is internationally present, and it has used acquisition to expand in many regions in Europe.
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