Global E-pharmacy Market to surpass USD 174.87 billion by 2030 from USD 56.9 billion in 2020 at a CAGR of 16.24% in the coming years, i.e., 2021-30.High acceptance of e-commerce, increased online orders, growth in the elderly population and rising implementation of e-prescriptions in hospitals and other healthcare services are all major factors driving the e-pharmacy market size. Furthermore, the recent outbreak of COVID-19 has had a significant impact on the use of online pharmacy sites, resulting in an increase in the size of the e-pharmacy industry.
A pharmacy that operates over the internet and sends orders to customers by mail or shipping companies is known as an E-Pharmacy. The rise in the number of internet users expanded access to web-based and online resources, and the increasing use of e-prescriptions in hospitals and other healthcare settings are all contributing to the e-pharmacy market’s growth.
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- ConvaTec Group Plc
- Integra Lifesciences Holdings Corporation
- Molnlycke Health Care AB
- B. Braun Melsungen AG
- Baxter International INC
- Smith & Nephew Plc
- Cardinal Health
- Coloplast Corp
- Other Prominent Players
Global E-pharmacy Market: Segments
Over the Counter, Drugs segment to grow with the highest CAGR during 2020-30
Global E-pharmacy market is segmented by type into Over-the-Counter Drugs and Prescription Drugs. In the year 2020, the Over the Counter Drugs segment dominated the industry. Over-the-counter medicines offer key medications for a wide variety of health problems, allowing patients to avoid hospital visits. As a result, increased public awareness and knowledge about the primary opioid treatment would spur demand growth.
Weight Loss segment to grow with the highest CAGR during 2020-30
Global E-pharmacy market is divided by-products into Skin Care, Dental, Cold & Flu, Weight Loss, and Others. The E-pharmacy market is expected to expand rapidly in the Weight Loss product industry. Adults are becoming more interested in and prefer physical exercise. Furthermore, the demand for weight loss products among obese people to reduce the burden of associated health risks including high blood pressure, coronary heart disease, and osteoarthritis would affect product demand.
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Increasing internet penetration and change in consumer behavior
Some of the factors driving growth include increased internet penetration around the world, improved healthcare infrastructure, rapid population aging, and increased consumer knowledge of e-commerce. One of the main factors driving market growth is a change in consumer behavior, with an increased demand for convenience. In addition, the growing use of e-commerce and digital technology in the healthcare industry is expected to boost growth.
Increased competition and sale of unapproved medications
The industry is harmed by the existence of a large number of illegal e-pharmaceuticals around the world. These unlicensed pharmacies sell medications that have not been approved for sale. From these e-Pharmaceuticals, there is always the possibility of getting counterfeit and contaminated drugs with incorrect active ingredients.
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Global E-pharmacy Market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global E-pharmacy Market report also contains analysis on:
E-pharmacy Market Segments:
- By Type:
- Over the Counter Drugs
- Prescription Drugs
- By Product
- Skin Care
- Cold & Flu
- Weight Loss
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