23-Jun-2021 | Facts and Factors
As per a recently issued market research report by Facts & Factors, the global ePharmacy market was about USD 51.20 Billion in 2020, with sales value projected to hit around USD 111.10 Billion by the end of 2026 and is expected to register an excellent 15.10% CAGR from 2021 to 2026.
ePharmacy or Internet pharmacy refers to the act of distributing medicine through the Internet and distributing them directly to the doorstep of the consumer. For prescription of medicines over the Internet, rules regulate that you need to be a licensed pharmacist. Due to the ease of business and higher profit margins, a rising number of traditional pharmacy practices are now shifting toward the ePharmacy business. The driving factors behind the significant rise of the ePharmacy market are the rising penetration of e-commerce coupled with the increased efficiency of ePharmacies. Additionally, the increased ability of the old age population and consumers suffering from chronic disorders will further cater to a large number of consumers for the global ePharmacy market.
Browse in full “ePharmacy Market: By Drug Type (Over-the-Counter Products & Prescription Medicine), By Product (Skin Care, Dental, Cold & Flu, Vitamins, Weight Loss, Other Products), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” report at https://www.fnfresearch.com/epharmacy-market
Rising consumer awareness, increasing millennial population, the rise of startups, and integration of advanced technological feats such as AI and ML will further boost the growth of the global ePharmacy market during the forecast period. Increasing regulation regarding consumer safety and stringent regulation will further open new revenue opportunities for the global ePharmacy market during the forecast. The rising number of Internet users increased access to web-based services, and the rising e-prescription requests from hospitals and other healthcare infrastructure will boost the growth of the market to a great extent.
Market Dynamics
The following developments are expected to change the dynamics of the global ePharmacy market during the forecast:
- Meds, a Swedish online pharmacy firm grabbed funding of $5.5 Million in order to expand their franchise into Europe. This initial round of funding is expected to increase the consumer base and increase the focus of the firm towards a new region.
- Rite Aid Corp recently acquired Envision Rx Options that specializes in mail-order pharmacies that include a wider range of prescription services. The following acquisition has allowed Rite Aid Corp to begin its transition to prescription medicine.
The global ePharmacy market can be divided into over-the-counter products and prescription medicine on the basis of drug type. The over-the-counter segment is expected to witness the largest market share during the advent of the forecast while the latter is expected to witness the fastest growing CAGR. Factors responsible for the dominant position of the segment are the increasing trend of self-medication and increased cost-saving measures among others.
The global ePharmacy market can be fragmented into skincare, dental, cold & flu, vitamins, weight loss, and other product types on the basis of application.
North America Is Expected To Witness The Largest Market Share During The Forecast Period
North America is expected to witness the largest market share during the advent of the forecast while the region of Asia-Pacific is expected to register the fastest growing CAGR. Factors responsible for the dominant position in the region are increased trust of consumers on the doorstep deliveries for a wider range of consumables and rising healthcare costs. These factors will increase the number of consumers changing from traditional pharmacy practices to the latter.
Report Scope
Report Attribute |
Details |
Market Size in 2020 |
USD 51.20 Billion |
Projected Market Size in 2026 |
USD 111.10 Billion |
CAGR Growth Rate |
15.10% CAGR |
Base Year |
2020 |
Forecast Years |
2021-2026 |
Key Market Players |
DocMorris, CVS Health Corporation, Express Script Holding Company, Walgreen Co., Optum Rx, Inc., Giant Eagle, Inc., Walmart Stores, Inc., Rowland Pharmacy, and The Kroger Co., and Others |
Key Segment |
By Drug, Product, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Top Market Players
The key participants in the global ePharmacy market are DocMorris, CVS Health Corporation, Express Script Holding Company, Walgreen Co., Optum Rx, Inc., Giant Eagle, Inc., Walmart Stores, Inc., Rowland Pharmacy, and The Kroger Co., among others.
The global ePharmacy market can be segmented into:
Global ePharmacy Market: By Drug Type Segment Analysis
- Over-the-Counter Products
- Prescription Medicine
Global ePharmacy Market: By Product Segment Analysis
- Skin Care
- Dental
- Cold & Flu
- Vitamins
- Weight Loss
- Other Products
Global ePharmacy Market: By Regional Segment Analysis
- North America
- Europe
- UK
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
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