Global E-Pharmacy Market 2022 to 2031 - Featuring Walgreen, Express Scripts Holding, CVS Health and Netmeds Among Others - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 5, 2023--
The “E-Pharmacy Global Market Report 2022” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global e-pharmacy market.
The global e-pharmacy market is expected to grow from $61.40 billion in 2021 to $74.55 billion in 2022 at a compound annual growth rate (CAGR) of 21.4%. The e-pharmacy market is expected to grow to $153.44 billion in 2026 at a CAGR of 19.8%.
- Walgreen Company
- Express Scripts Holding Company
- CVS Health Corporation
- DocMorris N.V
- Tata 1mg
- Amazon Inc.
- Axelia Solutions Pvt. Ltd.
- Apex Healthcare Berhad (Apex Pharmacy)
- Apollo Pharmacy
- Doctors Rowlands Phamacy
- Optus Rx Inc.
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The e-pharmacy market consists of the sale of e-pharmacy services by entities (organizations, sole proprietorships, and partnerships) that are used by patients to order prescribed drugs using the internet. E-pharmacies are online pharmacies that allow customers to acquire medications without having to go to a physical location.
Consumer convenience has improved as a result of these platforms, resulting in increased demand for the model around the world. Consumers can purchase medications or medication from an online pharmacy. The platform is intended for online pharmacy services, such as drug delivery. E-pharmacy allows patients to refill prescriptions and receive over-the-counter and specialized medications.
The main types of drugs in e-pharmacy are prescription drugs and over-the-counter (OTC) drugs. Prescription drugs are used in the diagnosis, cure, mitigation, treatment, or prevention of disease. The prescription drug can only be used under the supervision of a medical professional who is legally permitted to do so. The different product types include skin care, dental, cold and flu, vitamins, weight loss, and others. The various payment methods include cash on delivery, and online payment, and involve several platforms such as app-based, and web-based.
North America was the largest region in the e-pharmacy market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the e-pharmacy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The booming digital health is expected to propel the growth of the e-pharmacy market going forward. Digital health technologies and e-pharmacy services make use of computing platforms, networking, software, and sensors for health care and related applications that include mobile health (mHealth), health information technology (IT), wearable devices, telehealth, telemedicine, and personalized medicine. These technologies can be used for a variety of things, from general wellness to medical equipment.
For instance, in June 2021, according to the Federation of Indian Chambers of Commerce & Industry (FICCI), an India-based non-governmental trade association, before the COVID-19 pandemic, 3.5 million families purchased online pharmaceuticals and during the pandemic, the figure increased to 9 million, and by 2025, it is expected to reach 70 million. Therefore, booming digital health is driving the growth of the e-pharmacy market.
Product innovation is the key trend gaining popularity in the e-Pharmacy market. Major players operating in the e-pharmacy market are focused on developing an innovative platform to strengthen their market position.
For instance, in December 2021, HealthPlus, a Nigeria-based integrative pharmacy company launched West Africa’s first pharmacy and digital prescription platform that would make it easier for patients (customers) and healthcare professionals to communicate throughout the country. The launch also marks a significant step forward in Nigeria’s health democratization, delivering unparalleled healthcare access to Nigerians across the country. Customers can now use mobile devices to consult with experienced pharmacists from the comfort of their own homes.
The countries covered in the e-pharmacy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
For more information about this report visit https://www.researchandmarkets.com/r/rld2bn
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INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL TECHNOLOGY TELEMEDICINE/VIRTUAL MEDICINE SOFTWARE
SOURCE: Research and Markets
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PUB: 01/05/2023 08:20 AM/DISC: 01/05/2023 08:22 AM