ePharmacy Market by Product (Cold & Flu, Dental, Skin Care), Drug Type (Over the Counter (OTC) Drugs, Prescription Drugs), Type, Business model - Global Forecast 2024-2030

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[182 Pages Report] The ePharmacy Market size was estimated at USD 53.62 billion in 2023 and expected to reach USD 62.65 billion in 2024, at a CAGR 17.29% to reach USD 163.84 billion by 2030.

ePharmacy Market
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ePharmacy offers easier access to medicine purchases that significantly benefit elderly patients from nuclear families and patients not able to go out. The expansion of the healthcare sector, with increasing operational costs, has created the need to cut operating costs by implementing ePharmacy solutions. The ePharmacy model is simple to use and has replaced traditional pharmacies, including medical services, and experienced an increase in site traffic and sales due to the COVID-19 pandemic. The continuous adoption of digital technologies in the healthcare sector for better accessibility and flexibility and the growing geriatric population with chronic and acute conditions across the globe increases the adoption of ePharmacy worldwide. However, the requirement of technical expertise and adequate infrastructure for ePharmacy development and issues about patient data privacy & security due to the emergence of hacking and fishing activities is significantly impeding the adoption of ePharmacy. In addition, companies focus on deploying artificial intelligence (AI) and blockchain technology and introducing virtual assistance in ePharmacy to provide great convenience and offer a wider range of options than a traditional pharmacy.

ePharmacy Market - Global Forecast 2024-2030
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Regional Insights

The rising adoption of eCommerce, growing geriatric population, increasing online sales, developed healthcare infrastructure, and positive attitude towards adopting new technologies are expanding the utilization of ePharmacy in the United States. Approximately 80% of the population of the U.S. is connected to ePharmacy, and the trend is shifting toward the direct-to-patient model. High caseloads in the United States and regional lockdowns have pushed consumers to adopt the ePharmacy platforms to order medicines online from the comfort of their homes rather than visiting offline pharmacies and diagnostic centers. Emerging economies, such as China and India, possess high growth potential owing to the large population base coupled with increasing government initiatives supporting the adoption of digital technologies. In the UK and Germany, the utilization of ePharmacy is growing significantly due to the rise in inclination toward the online mode of medicine purchase among the people. According to the survey for the General Pharmaceutical Council (2021), 25% of people in the UK are expected to use an online pharmacy in the future. Doctors prefer ePrescriptions for patients to access medicine with the help of ePrescriptions quickly.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the ePharmacy Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the ePharmacy Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments
  • Med-Direct Africa Launches e-Pharmacy, Promises Price Reduction.

    Med Direct Africa has launched a revolutionary ePharmacy platform aimed at providing convenience and price reduction to individuals across the African continent seeking medications. This globally unprecedented move is expected to revolutionize how we purchase our medication, with Med Direct Africa obtaining its drugs directly from manufacturers, enabling consumers to take advantage of the lower prices without sacrificing quality standards. Furthermore, their digital pharmacy aims to provide customers - even in remote locations - with unprecedented access to medicines, making it easier than ever before for them to be able to receive the treatment they need. Overall, Med Direct Africa’s ePharmacy provides Africans an unique opportunity to safely buy medication at discounted prices from reliable sources! [Published On: 2023-03-23]

  • US startup launches e-pharmacy platform in Myanmar.

    The healthcare industry of Myanmar is receiving a major boost thanks to ePharmacy, a startup that is providing access to medical resources across rural areas. This initiative is helping eliminate the barriers that hindered rural populations from accessing quality healthcare for decades. With ePharmacy in place, people can now buy medications, connect to doctors and hospitals, track their records, and even book appointments from the comfort of their homes. This development marks a huge leap forward for Myanmar's healthcare sector and a positive step towards bridging the gap between urban and rural areas. It promises to bring better health outcomes significantly lower costs without having to move away from home or skimp on quality care. [Published On: 2023-03-20]

  • Vietnamese e-pharmacy Medigo raises $2M and more digital health fundings.

    The ePharmacy market in Vietnam is getting a boost this season as Medigo, one of the leading providers of digital medication services has just announced that it has received a $2 million investment. This comes as part of an effort to expand operations as more and more consumers are turning towards digital methods of ordering prescriptions, refills and other related services. With this significant influx of capital, Medigo is expanding its staff and exploring new opportunities within the Vietnamese market to become the go-to provider for safe, fast, and reliable prescription service. As more individuals look for features such as convenience and speed in their pharmacy experience, the ePharmacy industry in Vietnam appears poised to grow ever larger. [Published On: 2023-03-17]

Key Company Profiles

The report delves into recent significant developments in the ePharmacy Market, highlighting leading vendors and their innovative profiles. These include Amazon.com, Inc., Apex Healthcare Berhad, Apollo Pharmacies Ltd., Aster Pharmacies Group LLC, BinSina Pharmacy, CareOnGo, Chemist Direct, CVS Health Corporation, De Online Drogist, DOCIB Group, Euro-pharmas, Express Scripts Holding Company by Cigna, Farmacia Internacional, HealthPlus Pharmacy, Healthxchange Pharmacy UK Ltd., Life Pharmacy, LloydsPharmacy Ltd., Lékárna WPK SRO, Mahendra ePharmacy Pvt. Ltd., mChemist Global Pvt. Ltd., Medexpresspharma by Life Wind Medicare Pvt. Ltd., Medicina Pharmacy, MonCoinSanté, myPOS Software Solutions (Pvt) Ltd., Netmeds by Reliance Retail Ltd., Newpharma by Colruyt Group, OneHealth Nigeria, OptumRx, Inc., Oxford e-Pharmacy, Parafarmacia-online, Pharm24.gr, Pharmacynet, Pharmeasy by Axelia Solutions Pvt. Ltd., Practo Technologies Pvt. Ltd., Rowlands Pharmacy by Phoenix Group, Shop Apotheke Europe N.V., Tata 1mg, The French Pharmacy, The Independent Pharmacy, The Kroger Co., UK Meds Direct Ltd., Vamida s.r.o., Walgreen Co., Walmart Inc., Wockhardtepharmacy, and Zur Rose Group AG.

Market Segmentation & Coverage

This research report categorizes the ePharmacy Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Product
    • Cold & Flu
    • Dental
    • Skin Care
    • Vitamins
    • Weight Loss
  • Drug Type
    • Over the Counter (OTC) Drugs
    • Prescription Drugs
  • Type
    • Integrated
    • Standalone
  • Business model
    • Direct
    • Marketplace
    • Pharmacy

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

The report offers valuable insights on the following aspects:

  1. Market Penetration: It presents comprehensive information on the market provided by key players.
  2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
  3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
  4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
  5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

  1. What is the market size and forecast of the ePharmacy Market?
  2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the ePharmacy Market?
  3. What are the technology trends and regulatory frameworks in the ePharmacy Market?
  4. What is the market share of the leading vendors in the ePharmacy Market?
  5. Which modes and strategic moves are suitable for entering the ePharmacy Market?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. ePharmacy Market, by Product
  7. ePharmacy Market, by Drug Type
  8. ePharmacy Market, by Type
  9. ePharmacy Market, by Business model
  10. Americas ePharmacy Market
  11. Asia-Pacific ePharmacy Market
  12. Europe, Middle East & Africa ePharmacy Market
  13. Competitive Landscape
  14. Competitive Portfolio
  15. List of Figures [Total: 24]
  16. List of Tables [Total: 376]
  17. List of Companies Mentioned [Total: 46]
The Future of Pharmacy: Exploring the Scope of ePharmacy
June 15, 2023
The Future of Pharmacy: Exploring the Scope of ePharmacy
The healthcare industry is rapidly evolving by adopting digital technologies and eCommerce and transforming the way patients access medical care. The pharmacy sector is no exception to this trend, as ePharmacy gains popularity amongst consumers looking for convenient and flexible ways to obtain their medication. ePharmacy refers to the purchasing, dispensing, and delivery of prescription drugs through online platforms, and it is reshaping the way we approach medical treatments. This blog post delve into the scope of ePharmacy and explore why this trend is here to stay.

The rise of ePharmacy can be attributed to several factors. Firstly, the increasing use of smartphones and other digital devices has made it easier for patients to order their medication online rather than making a trip to the pharmacy. This cuts down on travel time, waiting in long lines, and is especially beneficial for individuals with chronic conditions who require regular medication refills. Additionally, the surge in eCommerce over the past decade has led to more people purchasing their everyday items online, including prescription drugs.

Another advantage of ePharmacy is that it promotes better accessibility to medication. For people living with mobility issues, traditional pharmacies may not be easily accessible. ePharmacy provides a solution to this problem by delivering medicine directly to the patient's doorstep without having them to deal with the logistical challenges of finding a nearby pharmacy. In some cases, ePharmacy services also provide medication reminders and online consultations to help patients manage their medication schedules.

ePharmacy also presents opportunities for innovation in terms of pharmaceutical manufacturing and supply chain. The move towards digital platforms allows for better tracking of drug stocks, reducing the likelihood of shortages. Furthermore, ePharmacy services can streamline the process of packaging and labeling medication. This leads to a more consistent and efficient model of distribution for medication, ultimately improving patient care.

Despite the many benefits of ePharmacy, there are also concerns about the quality of medication and safety for patients. In response to these concerns, ePharmacy platforms must adhere to strict regulations to ensure that the medication they deliver is genuine and safe for usage. Government regulatory bodies, such as the Food and Drug Administration (FDA) in the US, play a crucial role in monitoring the quality of medication being provided by ePharmacy services. Similarly, pharmacies working in ePharmacy must take measures to ensure that they are dispensing medication safely and accurately.

ePharmacy is revolutionizing the way we approach prescription drugs. It offers the most needed convenience and accessibility to medication, which ultimately benefits patients. As eCommerce continues to grow and the healthcare industry becomes more digital-centric, we can expect ePharmacy will have a significant role in the delivery of medical care. However, it is crucial to maintain a balance between convenience and safety and ensure that regulatory standards are met to ensure that patients receive accurate and safe medication. Overall, ePharmacy is an exciting development that has the potential to bring the most awaited changes to the pharmacy sector, and its scope is expected to have growth opportunities in the coming years.

Frequently Asked Questions
  1. How big is the ePharmacy Market?
    Ans. The Global ePharmacy Market size was estimated at USD 53.62 billion in 2023 and expected to reach USD 62.65 billion in 2024.
  2. What is the ePharmacy Market growth?
    Ans. The Global ePharmacy Market to grow USD 163.84 billion by 2030, at a CAGR of 17.29%
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