The global ePharmacy market is set to experience significant expansion, with projections indicating a compound annual growth rate (CAGR) of 14.3% over the next decade. By the end of 2033, the market is anticipated to reach a staggering valuation of USD 351.9 billion, up from the USD 81.5 billion recorded in 2022.
This surge in market growth is being driven by the increasing adoption of online platforms for purchasing medicines, the rising need for convenient healthcare solutions, and the growing penetration of the internet and smartphones worldwide. Additionally, the demand for ePharmacy services has seen a significant boost due to shifts in consumer behavior, with more individuals seeking contactless and time-saving healthcare options.
The surge in the ePharmacy market is driven by increasing consumer preference for the convenience of online pharmaceutical services, the growing adoption of digital health technologies, and a rising demand for accessible healthcare solutions. As ePharmacies offer a streamlined, user-friendly experience for purchasing medications and health products, their popularity continues to grow.
Innovations in digital platforms and advancements in healthcare technology are further fueling the market’s expansion, making ePharmacies an integral part of the modern healthcare landscape.
easing Furthermore, ePharmacy businesses offer prescription drugs at a lower cost than conventional brick-and-mortar pharmacies. Over the course of the projection period, the ePharmacy market is anticipated to grow at a rapid pace due to the growing investment in the healthcare sector by significant e-commerce companies. Because certain prescription prescriptions are not available at retail pharmacies, a significant portion of the global patient population opts for doorstep delivery of medical supplies. ePharmacies significantly reduce the need for elderly people and people with chronic illnesses to rely on outside parties to get their prescription medications and medical supplies. Similarly, it is anticipated that increased ePharmacy market sales will come from increased internet awareness and usage.
Competitive Landscape:
industry players are investigating a variety of growth tactics in an effort to obtain a competitive advantage and strengthen their positions in the industry. Growing customer needs are projected to drive considerable expansion in the global ePharmacy industry. Indirectly driving market expansion are online retail platforms’ convenient access to regulated prescription medications such analgesics, stimulants, and hypnotics that cause sedation.
Recent Market Developments
- In September 2022, a partnership was formed between Walmart Canada and Canada Health Infoway. In 14 Walmart Canada pharmacies, Infoway’s PrescribeIT computerized prescribing service is now available.
- In May 2020, Pharmeasy announced the acquisition of Medlife to broaden its product offerings and clientele in India. The company’s market presence has been expanded due to this acquisition, and sales have increased.
Similarly, recent developments have been tracked by the team at Future Market Insights related to companies in the ePharmacy market, which are available in the full report.
Key Companies Profiled:
- Netmeds Marketplace Ltd.
- TEasyMedico
- Medlife
- Amazon. Inc
- Apotek
- The Kroger Co.
- Walgreen Co.
- Giant Eagle, Inc.
- Walmart
- Express Scripts
- CVS Health
- Optum, Inc.
- L Rowland & Co (Retail) Ltd
- Zur Rose Group AG
- McKesson Corporation
- SHOP-APOTHEKE EUROPE N.V.
- UK Meds Direct Ltd.
- Walgreens Boots Alliance, Inc.
- DocMorris
A Old Full Report Analysis Click Here
Key Segments Covered in ePharmacies Industry Research
By Product:
- Over the Counter Product
- Prescription Medicines
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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