E-Pharmacy Market Overview, Size, Industry Share, Growth, Forecast 2023-28

[mark smith]

According to IMARC Group latest report titled “E-Pharmacy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on E-Pharmacy market size. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global e-pharmacy market size reached US$ 80.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 203.4 Billion by 2028, exhibiting a growth rate (CAGR) of 16.4% during 2023-2028.

What is E-pharmacy?

E-pharmacy, or online pharmacy, is a digital platform that allows customers to purchase prescription and non-prescription drugs and other healthcare products online. It offers consumers convenience, privacy, and cost savings and is becoming increasingly popular worldwide. Customers can upload their prescriptions and order medications delivered to their doorstep. E-pharmacies also offer a wide range of over-the-counter medications, vitamins, and other healthcare products, often at discounted prices. Many e-pharmacies also offer telemedicine services, allowing customers to consult with healthcare professionals online.

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What are the growth prospects and trends in the E-pharmacy industry?

The global market is majorly driven by the increasing adoption of smartphones. In line with this, the growing demand for convenience and cost-effective healthcare services is significantly contributing to the market. Furthermore, the presence of a large number of players, including established pharmacy chains, independent online pharmacies, and technology companies worldwide, is positively influencing the market. These companies are continually expanding their product offerings and geographical reach to capitalize on the rising demand for e-pharmacy services. Apart from this, the escalating number of internet users and the increasing prevalence of chronic diseases are catalyzing the market. Moreover, the shift in consumer preference toward online purchasing of medications and other healthcare products is creating a positive outlook for the market. Besides, the improving digitalization of healthcare services, rapid adoption of digital technologies, and incorporation of e-commerce in the healthcare industry worldwide are strengthening the market. Additionally, the significant growth in the healthcare sector coupled with high operational costs is creating the need to cut operational costs by implementing E-pharmacy solutions. This, in turn, is providing a boost to the market.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• CVS Health Corporation
• DocMorris (Zur Rose Group AG)
• Express Scripts Holding Company (Cigna Corporation)
• Giant Eagle Inc.
• Lloyds Pharmacy Ltd (McKesson Corporation)
• Optumrx, Inc. (Unitedhealth Group Incorporated)
• Rowland Pharmacy
• The Kroger Co
• Walgreen Co (Walgreens Boots Alliance, Inc.)
• Walmart Inc

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:

• Over the Counter (OTC) Drugs
• Prescription Drugs

Breakup by Product Type:

• Skin Care
• Dental
• Cold and Flu
• Vitamins
• Weight Loss
• Others

Breakup by Platform:

• App-Based
• Web-Based

Breakup by Payment Method:

• Cash on Delivery
• Online Payment

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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.

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