According to IMARC Group latest report titled “E-Pharmacy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on online pharmacy industry report. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global e-pharmacy market is expected to exhibit a CAGR of 11.2% during 2022-2027.
E-Pharmacy represents a mail order-based drugstore that mainly operates via an online platform to supply medicines and other pharma products. It essentially functions through online branches of brick-and-mortar pharmacies, independent internet-only outlets, and outlets promoting drugstore associations. E-pharmacy gives various types of products, such as dental, skin care, cold and flu, weight loss, vitamins, etc. It also aids in delivering orders directly to the customers through mail, online web portals, or shipping companies without involving the long chain of distributors. E-pharmacy web- or app-based applications provide information related to product descriptions, prescribed dosages, side effects, etc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Trends:
The rising utilization of e-commerce platforms in the pharmaceutical sector is primarily driving the e-pharmacy market. Besides this, the escalating demand for these services for regulated and door-step delivery of medicines, personal care products, medical devices, etc., owing to the growing geriatric population, who are more prone to chronic ailments, is further augmenting the market growth. Moreover, the elevating shift from brick-and-mortar drugstores towards e-pharmacy platforms, on account of the sudden outbreak of the COVID-19 pandemic, is also catalyzing the global market. Apart from this, the increasing incorporation of several innovative technologies, including health information technology (HIT), artificial intelligence (AI), and predictive analytics, is acting as another significant growth-inducing factor. Furthermore, the emerging trend of mobile-based software applications supported by various in-app benefits, such as discounted offers, customized purchases, express delivery, etc., is expected to bolster the e-pharmacy market in the coming years.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
E-Pharmacy Market Segmentation:
Our report has categorized the market based on region, drug type, product type, platform and payment method.
Breakup by Drug Type:
Breakup by Product Type:
Breakup by Platform:
Breakup by Payment Method:
Breakup by Region:
Key highlights of the report:
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