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The Eastern Europe online pharmacy market grew at a CAGR of around 12% during 2015-2020. Looking forward, IMARC Group expects the market to exhibit strong growth 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 sectors. These insights are included in the report as a major market contributor.
Online pharmacy refers to an internet based drugstore that delivers medicines and other pharma products via e-commerce platforms. It can be primarily categorized into independent internet-only outlets, online branches of brick-and-mortar pharmacies, and outlets promoting pharmacy associations. Online pharmacies enable customers to track the entire delivery process, selection of delivery slots, flexible payment options, access a wide product range, etc. In Eastern Europe, the rising penetration of smart devices coupled with the high internet connectivity is primarily driving the online sales for pharma products.
The expanding pharmaceutical sector coupled with the increasing adoption of numerous e-commerce platforms for hassle-free delivery of medicines, personal care products, medical devices, etc., is currently augmenting the market growth. In addition to this, several renowned brick-and-mortar pharmacy chains across Eastern Europe are getting inclined towards online sales channels for expanding their consumer base. Moreover, the increasing consumer awareness towards numerous additional benefits of online pharmacy services, such as express delivery options, accessible payment gateways, cashback, discounted offers, etc., is further driving the regional market. Additionally, the rising penetration of advanced technologies, such as AI, IoT, predictive analytics, and Big Data for storing medical records, uploading prescriptions, customizing product search, etc., is further catalyzing the demand for online pharmacies in the region.
IMARC Group provides an analysis of the key trends in each sub-segment of the Eastern Europe online pharmacy market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, type, platform, end-use and application.
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The competitive landscape of the industry has also been examined with some of the keyplayers being Apotheka SIA, AZETA Sia, EXTRAPHARMA online pharmacy, Lékárna WPK sro, Medikaments.lv, 1MG Technologies Pvt. Ltd, Pelion SA, Webaptieka and Zur Rose Group AG.
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