Global E-Pharmacy Market to Reach US$ 314.1 Billion by 2032, Propelled by the Emerging Technological Advancements in Secure Payment Gateways

October 12, 2023 | Healthcare

The latest report by IMARC Group, titled “E-Pharmacy Market Report by Drug Type (Over the Counter (OTC) Drugs, Prescription Drugs), Product Type (Skin Care, Dental, Cold and Flu, Vitamins, Weight Loss, and Others), Platform (App-Based, Web-Based), Payment Method (Cash on Delivery, Online Payment), and Region 2024-2032,” finds that the global e-pharmacy market size reached US$ 94.2 Billion in 2023. E-pharmacy, also known as electronic or online pharmacy, is a digital platform that enables individuals to purchase prescription and over-the-counter medications and numerous health-related products over the internet. It operates through dedicated websites or mobile applications, allowing users to browse several pharmaceutical products, compare prices, and place orders from the convenience of their homes. It provides easy access to medications and healthcare products, especially for individuals with limited mobility or who live in remote areas. It is particularly valuable for those with chronic conditions who require regular medication. Additionally, it offers a hassle-free shopping experience, with 24/7 availability, allowing customers to upload their prescriptions, receive professional advice online, and have their medications delivered to their doorstep, eliminating the need for physical visits to brick-and-mortar pharmacies. It also provides price transparency, allowing customers to compare the costs of medications and select the most cost-effective options, which can lead to significant cost savings for consumers. As a result, e-pharmacies are gaining immense traction to help customers manage their medications, including automated refill reminders and dosage tracking, enhancing medication adherence across the globe.

Global E-Pharmacy Market Trends:

The market is primarily driven by the emerging technological advancement in secure payment gateways. In addition, it offers enhanced security with the integration of encryption technologies, tokenization, and multi-factor authentication and secures the safety of sensitive financial information, such as credit card details and personal data, which instills confidence in consumers, reducing concerns about online payment fraud, thus influencing the market growth. Moreover, modern payment gateways facilitate quick and seamless transactions using real-time processing and optimized user interfaces that allow customers to make payments swiftly, improving the user experience and reducing cart abandonment rates, thus representing another major growth-inducing factor. Besides this, the widespread adoption of smartphones and internet access are paving the way for e-pharmacies, allowing consumers easy access through mobile apps and websites to browse and purchase medications, access information, and even consult with healthcare professionals remotely, thus accelerating market growth. Along with this, the onset of the coronavirus disease (COVID-19) pandemic with lockdowns, social distancing measures, and concerns about in-person interactions led more individuals to turn to online pharmacies for their healthcare needs, thus propelling the importance of remote healthcare access. Apart from this, the integration of telemedicine services in e-pharmacies allows patients to consult with healthcare professionals virtually, allowing remote diagnosis and facilitating the prescription process, thus creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 314.1 Billion by 2032, exhibiting a CAGR of 14.32% during the forecast period (2024-2032).

Market Summary:

  • Based on the drug type, the market has been bifurcated into over-the-counter (OTC) and prescription drugs. Presently, over-the-counter (OTC) accounts for the largest market share.
  • On the basis of the product type, the market has been classified into skin care, dental, cold and flu, vitamins, weight loss, and others. Among these, skin care exhibits a clear dominance in the market.
  • Based on the platform, the market has been categorized into app-based and web-based. Currently, app-based platforms hold the leading position in the market.
  • On the basis of the payment method, the market has been segmented into cash on delivery and online payment.
  • Region-wise, North America (the United States and Canada) exhibits a clear dominance in the market. Other major regions include Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa (Turkey, Saudi Arabia, and others).
  • The competitive landscape of the industry has also been examined in the report, with some of the key players being CVS Health Corporation, DocMorris (Zur Rose Group AG), Express Scripts Holding Company (Cigna Healthcare), Giant Eagle Inc., Lloyds Pharmacy Limited, Optumrx Inc. (Unitedhealth Group Incorporated), Rowland Pharmacy, The Kroger Co., Walgreen Co. (Walgreens Boots Alliance Inc.) and Walmart Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Drug Type, Product Type, Platform, Payment Method, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico, Turkey, Saudi Arabia
Companies Covered CVS Health Corporation, DocMorris (Zur Rose Group AG), Express Scripts Holding Company (Cigna Healthcare), Giant Eagle Inc., Lloyds Pharmacy Limited, Optumrx Inc. (Unitedhealth Group Incorporated), Rowland Pharmacy, The Kroger Co., Walgreen Co. (Walgreens Boots Alliance Inc.) and Walmart Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

134 N 4th St.
Brooklyn, NY 11249, USA
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global E-Pharmacy Market to Reach US$ 314.1 Billion by 2032, Propelled by the Emerging Technological Advancements in Secure Payment Gateways
Purchase options

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us

Phone: +1-631-791-1145


Phone: +91-120-433-0800


Phone: +44-753-714-6104


Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More