The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
The key highlights of the report include:
Market Overview (2016-2026)
• Forecast CAGR (2021-2026): 13%
• Forecast Market Size (2026): USD 131 billion
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The epharmacy market is being driven by the growing consumer demand for doorstep delivery of medicines and other healthcare products. The factors like the wide availability of e-pharmacies and their easy access using digital technology, transparency in pricing, and reduced cost, among others are aiding the industry growth. Further, the effortless and prompt delivery of products, with an option to choose among the various alternatives have increased its demand among consumers. The market is being aided by growing e-commerce industry, particularly in developing nations. Over the forecast period, the increasing consumer preference for contactless services, growing need to reduce healthcare expenditures, and increasing mergers and acquisitions by the leading players are expected to significantly boost the market growth.
Industry Definition and Major Segments
An epharmacy, also referred to as internet pharmacy, or mail-order pharmacy, is a platform which facilitates the online delivery and purchase of healthcare products using internet. It is particularly helpful for those patients who need long-term medication, thus, allowing them to access the product without actually visiting any medical store.
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By type, the epharmacy industry can be segmented into:
• Over-The-Counter Products
• Prescription Medicine
The industry can be categorised based on operating platform into:
• Mobile Application
On the basis of business model, the industry can be divided into:
The regional markets for epharmacy include:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
The global epharmacy market is expected to be driven by the growing need to improve healthcare infrastructures and increasing demand for contactless services, particularly with the outbreak of the COVID-19 pandemic. Further, the increasing literacy regarding internet and epharmacy in emerging nations, coupled with the favourable government initiatives, is expected to provide enhanced growth opportunities to the industry. For instance, China and India are witnessing increased adoption of epharmacies, along with the increasing implementation of e-prescription in healthcare facilities. In March 2019, 1MG, a significant Indian online pharmacy company, received LegitScript certification by the National Association of Boards of Pharmacy (NABP), USA, thus, becoming the first-ever company in India to garner this certification. This will allow the company to win consumer trust and enhance its customer base. Such developments are expected to aid the industry growth in the forecast period.
Key Market Players
The major players in the market are CVS Pharmacy, Giant Eagle Inc., Express Script Holding Company, OptumRx, Inc., Walmart Corporate, and Medlife International Pvt.Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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