The global ePharmacy Market demand is expected to grow at a 14.3% CAGR to US$ 351.9 billion by 2033, up from US$ 81.5 billion in 2022.
“The growth of the global ePharmacy market is being driven by ePharmacies’ efficiency in providing affordable medicinal products as well as increased e-commerce penetration”
For Details on Vendors and Their Offerings – Request A Sample Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-14334
| ePharmacies Market Size (2023) | US$ 92.4 Billion |
| Forecasted Market Value (2033) | US$ 351.9 Billion |
| Value CAGR (2023 to 2033) | 14.3% |
Customers’ preferences are shifting to e-pharmacy platforms as a result of the simplicity of purchase, availability of a diverse range of medications, and high-quality medical services offered via the internet.
A large number of smartphone transactions have occurred, as has the spread of epharmacy awareness. The expanding senior population, which has chronic illnesses and lives in remote areas, promotes ePharmacy sales. As smartphone sales increase, this has an impact on the Indian e-pharmacy market.
As part of the ePharmacy business model, enticing offers, considerable savings, and easy accessibility help end users navigate and acquire drugs swiftly. This accelerates the global market and increases epharmacy sales.
As e-commerce and the online sector grow more accessible, so will the availability of medicines, as multiple vendors (B2C and B2C) establish an online presence. This provides a better environment for these vendors to offer their items.
“The major challenge with ePharmacy market is rising number of illegal vendors online that decrease the credibility of online sources. Also, risks associated with counterfeit drugs are downgrading the marketing. To prevent these illegal vendors, e pharmacy regulations are there in every country.”
For any queries linked with the report, ask an analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-14334
Key Takeaway
- Government initiatives and e-pharmacy regulations promote and control digital technology in order to improve the space’s functionality. Government awareness efforts assist a number of industry participants.
- North America is the market leader, accounting for more than 35% of global epharmacy sales. The quick rise can be attributed to the high rate of internet usage among Americans.
- When epharmacy firms build their product profile and marketing campaign with the prescription portal attached, customers may simply engage with the website and post prescriptions.
- 63% of the world’s population regularly utilises the internet and interacts with eCommerce websites, supporting market development.
- The worldwide epharmacy market is divided into product types, which are further divided into OTC items and prescription drugs.
- The biggest segment by the product type category is OTC products. These products are in high demand because of the easy access and low hassle processes.
Competitive Landscape
The Walgreen Company dominates the global ePharmacy market are Express Scripts Holding, CVS Health, DocMorris, Giant Eagle, Wal-Mart Stores, OptumRx, PharmEasy, 1mg and Netmeds. These companies are adopting new digital channels and processes to increase their stronghold in the ePharmacy market.
- In 2021, PharmEasy initiated the takeover of MedLife to expand the deliverables and stronghold in India.
- Lately, Express scripts have launched a new program named Express Scripts Parachute Rx that offer price discounts on multiple products.
Contact Sales for Further Assistance in Purchasing this Report@ https://www.futuremarketinsights.com/checkout/14334
Key Segments Covered in ePharmacy Industry Research
By Product:
- Over the Counter Product
- Prescription Medicines
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports
LinkedIn | Twitter | Blogs
