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The global e-pharmacy market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 18% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
E-Pharmacy refers to a mail order-based drugstore that primarily operates via an online platform to deliver medicines and other pharma products. It mainly functions through independent internet-only outlets, online branches of brick-and-mortar pharmacies, and outlets promoting pharmacy associations. E-pharmacy aid in delivering orders directly to the customers via mail, online pharmacy web portals, or shipping companies, without involving the distributors' long chain. Furthermore, e-pharmacy web- or app-based applications also provide information related to product descriptions, prescribed dosages, side-effects, etc.
The growing adoption of e-commerce platforms in the pharmaceutical sector is currently driving the market growth. Furthermore, the increasing internet connectivity along with the rising penetration of smart devices is also propelling the market growth. Additionally, the growing geriatric population, who are more prone to chronic ailments that led to muscular impairments, is further catalyzing the adoption of e-pharmacy services for regulated and door-step delivery of medicines, medical devices, personal care products, etc. Apart from this, the hectic consumer work schedules and sedentary lifestyles of the consumers are also bolstering the demand for e-pharmacy for hassle-free purchase of pharma products. Moreover, the growing number of mobile-based software applications supported by numerous in-app benefits, such as discounted offers, customized purchases, express delivery, etc., is further contributing to market growth across the globe. With the sudden outbreak of the COVID-19 pandemic, there is a gradual shift from brick-and-mortar drugstores towards e-pharmacy platforms to mitigate the risk of coronavirus infection upon human interaction. In the coming years, the rising integration of numerous innovative technologies, such as artificial intelligence (AI), health information technology (HIT), predictive analytics, etc., with e-pharmacy solutions will continue to drive the global market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global e-pharmacy market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, drug type, product type, plateform and payment method.
Breakup by Drug Type:
Breakup by Product Type:
Breakup by Platform:
Breakup by Payment Method:
Breakup by Region:
The competitive landscape of the industry has also been examined with some of the key players being CVS Health Corporation, DocMorris (Zur Rose Group AG), Express Scripts Holding Company (Cigna Corporation), Giant Eagle Inc., Lloyds Pharmacy Ltd (McKesson Corporation), Optumrx, Inc. (Unitedhealth Group Incorporated), Rowland Pharmacy, The Kroger Co, Walgreen Co (Walgreens Boots Alliance, Inc.) and Walmart Inc.
We expect the global e-pharmacy market to exhibit a CAGR of around 18% during 2021-2026.
The growing prevalence of chronic ailments, along with the rising adoption of e-pharmacy services for easy and convenient delivery of medicines, healthcare products, medical devices, etc., is driving the global e-pharmacy market.
Sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar pharmacies towards online retail platforms, such as e-pharmacy, to mitigate the risk of coronavirus infection upon human interaction.
Based on the drug type, the global e-pharmacy market can be segmented into Over the Counter (OTC) drugs and prescription drugs, where Over the Counter (OTC) drugs hold the majority of the global market share.
Based on the product type, the global e-pharmacy market has been divided into skin care, dental, cold and flu, vitamins, weight loss, and others. Among these, skin care product accounts for the majority of the total market share.
Based on the platform, the global e-pharmacy market can be categorized into app-based and web-based Currently, app-based platform accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global e-pharmacy market include CVS Health Corporation, DocMorris (Zur Rose Group AG), Express Scripts Holding Company (Cigna Corporation), Giant Eagle Inc., Lloyds Pharmacy Ltd (McKesson Corporation), Optumrx, Inc. (Unitedhealth Group Incorporated), Rowland Pharmacy, The Kroger Co, Walgreen Co (Walgreens Boots Alliance, Inc.), and Walmart Inc.
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