Analysts’ Viewpoint on Global Market Scenario
The global e-Pharmacy market is estimated to grow at a rapid pace during the forecast period, due to the rise in awareness about online pharmacies, increase in digital penetration, and growth in consumer comfort level with online transactions. The ePharmacy model is simple to use and has begun to replace traditional pharmacies. ePharmacy includes medications and medical services. e-pharmacies experienced an overnight increase in site traffic and sales due to the COVID-19 pandemic. Government officials became aware of telemedicine and the value of such services for the general population. However, lack of clearly stated laws and clear-cut guidelines to regulate, control, and monitor e-pharmacies is a concern. Leading players in the market are tapping into incremental opportunities in the global market to broaden their revenue streams.
The term 'ePharmacy' refers to an online pharmacy that provides medical care and allows patients to buy prescribed medications online. E-pharmacy is a branch of pharmacy that primarily operates online. It makes use of the Internet and sends medications to customers via dedicated delivery companies. Online pharmacies include independent Internet-only outlets, electronic subsidiaries of "brick-and-mortar" hospitals, and platforms serving pharmacy companies. It makes up 8% to 10% of the pharmaceutical market; however, there exists significant room for growth due to the rise in awareness about online pharmacies. People are able to access labs and medications from the security of their homes, as online pharmacies are primed and prepared for home delivery of medicines.
Electronic pharmacy systems, including online shopping and the sale of prescribed and non-prescribed drugs and medicines, are growing rapidly. Some of India's largest conglomerates and multinational e-commerce firms are striving to establish a presence in the sector, which is also undergoing consolidation among existing players. E-commerce is becoming increasingly important in wholesale and retail trade. Orders have increased by approximately 20% to 30% for e-commerce companies. The concept of electronic pharmacies and online drug sales has been popular across the world for more than two decades. Online pharmacy has experienced exponential growth across categories due to the rise in the availability of smartphones and the Internet. People have started purchasing various things online including groceries, apparel, and medicines. E-pharmacy has emerged as a promising industry as a result of this significant change in consumer shopping habits. E-pharmacies also offer online services such as doctor consultations as well as a number of offline services (including diagnostics). The global ePharmacy market size is anticipated to increase during the forecast period owing to the rise in the number of smartphone users and growth in penetration of the Internet across the globe. An increase in the adoption of electronic signature pharmacies is also likely to augment the market during the forecast period.
An increase in online medicine sales has caused significant disruption in the pharmacy market. The growth of mail orders and online pharmacies is another factor that has the potential to have a significant impact on pharmacy service structures and medicine costs. The COVID-19 pandemic has had a significant effect on consumer purchasing behavior. It has induced more people to buy healthcare products from online retailers or dedicated ePharmacies.
According to a study published in the Pharmaceutical Journal, the number of items dispensed from distance-selling pharmacies in the U.K. increased by 45% in 2020. Using dispensing data and lists of distance-selling pharmacies obtained through the Freedom of Information Act from the NHS Business Services Authority, it was discovered that these pharmacies dispensed 42 million items in 2020.
In Denmark, pharmacies have the exclusive right to sell prescription-only medicines to consumers. Several over-the-counter (OTC) drugs are available only at pharmacies. Denmark had 227 pharmacies and two online pharmacies as of January 1, 2021. Moreover, one of the pharmacies has 80 branches, 209 voluntarily established branches, 24 pharmacy outlets, approximately 350 OTC outlets, and around 400 medicine delivery facilities.
People look for convenience, dependability, and affordability in every online transaction. They are already at ease in purchasing categories such as music, food, and media from online retailers. They are now seeking the same level of service for more complex categories (OTC, medical devices, and prescription medicines). Hence, the trend of online pharmacies is expected to increase during the forecast period.
In terms of product, the prescription medicines segment accounted for the largest global ePharmacy market share in 2021. The segment is expected to maintain its leading position in the market during the forecast period. Patients benefit significantly from online pharmacies, as these offer a much wider variety of options than conventional pharmacies. Several drugs are available in regular drug stores, but it is not always possible to find prescribed medicines at a local physical pharmacy. The Internet makes everything simple and practical. Patients can now order medicines online with a registered medical practitioner's prescription and have them delivered right to their door. This is a popular practice of ordering drugs prescribed by doctors. People are likely to opt for online pharmacies instead of visiting a nearby pharmacy owing to the rise in penetration of smartphones and the Internet. They can also order their prescriptions from the convenience of their homes by comparing the prices of medications. They can have their medications delivered right to their doorstep with just a few clicks. This convenience is a key selling point that is likely to fuel the e-Pharmacy market growth in the next few years.
North America accounted for the largest share of the global market for e-Pharmacy in 2021. The region is expected to maintain its share during the forecast period. An increase in the number of Internet users has led to a rise in the adoption of digital technologies, thus offering unprecedented growth opportunities to the ePharmacy market in the region.
The U.K. and Germany are the major hotspots of the e-pharmacy industry in Europe, led by the rise in inclination toward the online mode of medicine purchase among the people in these countries. According to a YouGov survey for the General Pharmaceutical Council (2021), 25% of people in the U.K. are likely to use an online pharmacy in the future. The country has more than 350 registered online pharmacies. Over the last 12 months, 300,000 patients have used Pharmacy2U's NHS prescription service to have their medication delivered, with a new facility in Leicestershire capable of dispensing 7.5 million items per month.
The market in Asia Pacific is anticipated to grow at the fastest CAGR during the forecast period. Large population base in emerging economies such as China and India; an increase in government initiatives to encourage the adoption of digital technologies; and a rise in preference of customers to use ePharmacy solutions have led to a steady growth in investor interest in e-pharmacies, with the sector attracting US$ 700 Mn in investments in 2020 alone. Some of the leading players in the market in Asia Pacific include Pharmeasy, Medlife, 1Mg, and Netmeds.
The global market for e-Pharmacy is consolidated, with the presence of a small number of leading players that control the majority of the share. Expansion of product portfolio and mergers & acquisitions are the key strategies adopted by the leading players in the global market. Chemist Direct, DocMorris, Express Scripts Holding Company, Giant Eagle, Inc., Healthxchange Pharmacy, LloydsPharmacy, MedExpress, Netmeds, Optum Rx, Inc., PharmEasy, 1Mg, Rowlands Pharmacy, The Kroger Co., Walgreen Co., and Well Pharmacy are the prominent players operating in the global ePharmacy business.
Each of these players has been profiled in the e-Pharmacy industry report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.
| Attribute | Detail |
|---|---|
| Market Size Value in 2021 | US$ 63.5 Bn |
| Market Forecast Value in 2031 | More than US$ 362.8 Bn |
| Growth Rate (CAGR) | 19.2% |
| Forecast Period | 2022-2031 |
| Historical Data Available for | 2017-2020 |
| Quantitative Units | US$ Bn for Value |
| Market Analysis | It includes segment analysis as well as regional-level analysis. Moreover, the qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis. |
| Competition Landscape |
|
| Format | Electronic (PDF) + Excel |
| Market Segmentation |
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| Regions Covered |
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| Countries Covered |
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| Companies Profiled |
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| Customization Scope | Available upon request |
| Pricing | Available upon request |
The global market was valued at US$ 63.5 Bn in 2021
The global e-Pharmacy market is projected to reach more than US$ 362.8 Bn by 2031
The global e-Pharmacy market is anticipated to advance at a CAGR of 19.2% from 2022 to 2031
Increase in digitization of healthcare services, rise in smartphone availability & internet penetration, and growth in consumer preference for online pharmacies
North America is expected to account for a major share of the global e-Pharmacy market during the forecast period.
Chemist Direct, DocMorris, Express Scripts Holding Company, Giant Eagle, Inc., Healthxchange Pharmacy, LloydsPharmacy, MedExpress, Netmeds, Optum Rx, Inc., and PharmEasy
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global ePharmacy Market
4. Market Overview
4.1. Introduction
4.1.1. Definition
4.1.2. Industry Evolution / Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global ePharmacy Market Analysis and Forecast, 2017-2031
5. Key Insights
5.1. Pricing Analysis
5.2. Key Industry Events (mergers, acquisitions, collaborations, approvals, etc.)
5.3. COVID-19 Impact Analysis
5.4. Regulatory Scenario
6. Global ePharmacy Market Analysis and Forecast, by Product
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Market Value Forecast, by Product, 2017-2031
6.3.1. Prescription Medicine
6.3.2. Over-the-counter (OTC) Products
6.3.3. Other (Diagnostic Services)
6.4. Market Attractiveness Analysis, by Product
7. Global ePharmacy Market Analysis and Forecast, by Region
7.1. Key Findings
7.2. Market Value Forecast, by Region
7.2.1. North America
7.2.2. Europe
7.2.3. Asia Pacific
7.2.4. Latin America
7.2.5. Middle East & Africa
7.3. Market Attractiveness Analysis, by Region
8. North America ePharmacy Market Analysis and Forecast
8.1. Introduction
8.1.1. Key Findings
8.2. Market Value Forecast, by Product, 2017-2031
8.2.1. Prescription Medicine
8.2.2. Over-the-counter (OTC) Products
8.2.3. Other
8.3. Market Value Forecast, by Country, 2017-2031
8.3.1. U.S.
8.3.2. Canada
8.4. Market Attractiveness Analysis
8.4.1. By Product
8.4.2. By Country
9. Europe ePharmacy Market Analysis and Forecast
9.1. Introduction
9.1.1. Key Findings
9.2. Market Value Forecast, by Product, 2017-2031
9.2.1. Prescription Medicine
9.2.2. Over-the-counter (OTC) Products
9.2.3. Other
9.3. Market Value Forecast, by Country/Sub-region, 2017-2031
9.3.1. Germany
9.3.2. U.K.
9.3.3. France
9.3.4. Italy
9.3.5. Spain
9.3.6. Rest of Europe
9.4. Market Attractiveness Analysis
9.4.1. By Product
9.4.2. By Country/Sub-region
10. Asia Pacific ePharmacy Market Analysis and Forecast
10.1. Introduction
10.1.1. Key Findings
10.2. Market Value Forecast, by Product, 2017-2031
10.2.1. Prescription Medicine
10.2.2. Over-the-counter (OTC) Products
10.2.3. Other
10.3. Market Value Forecast, by Country/Sub-region, 2017-2031
10.3.1. China
10.3.2. Japan
10.3.3. India
10.3.4. Australia & New Zealand
10.3.5. Rest of Asia Pacific
10.4. Market Attractiveness Analysis
10.4.1. By Product
10.4.2. By Country/Sub-region
11. Latin America ePharmacy Market Analysis and Forecast
11.1. Introduction
11.1.1. Key Findings
11.2. Market Value Forecast, by Product, 2017-2031
11.2.1. Prescription Medicine
11.2.2. Over-the-counter (OTC) Products
11.2.3. Other
11.3. Market Value Forecast, by Country/Sub-region, 2017-2031
11.3.1. Brazil
11.3.2. Mexico
11.3.3. Rest of Latin America
11.4. Market Attractiveness Analysis
11.4.1. By Product
11.4.2. By Country/Sub-region
12. Middle East & Africa ePharmacy Market Analysis and Forecast
12.1. Introduction
12.1.1. Key Findings
12.2. Market Value Forecast, by Product, 2017-2031
12.2.1. Prescription Medicine
12.2.2. Over-the-counter (OTC) Products
12.2.3. Other
12.3. Market Value Forecast, by Country/Sub-region, 2017-2031
12.3.1. GCC Countries
12.3.2. South Africa
12.3.3. Rest of Middle East & Africa
12.4. Market Attractiveness Analysis
12.4.1. By Product
12.4.2. By Country/Sub-region
13. Competition Landscape
13.1. Market Player - Competitive Matrix (by tier and size of companies
13.2. Market Share Analysis, by Company (2021)
13.3. Company Profiles
13.3.1. Chemist Direct
13.3.1.1. Company Overview
13.3.1.2. Product Portfolio
13.3.1.3. SWOT Analysis
13.3.1.4. Financial Overview
13.3.1.5. Strategic Overview
13.3.2. DocMorris
13.3.2.1. Company Overview
13.3.2.2. Product Portfolio
13.3.2.3. SWOT Analysis
13.3.2.4. Financial Overview
13.3.2.5. Strategic Overview
13.3.3. Express Scripts Holding Company
13.3.3.1. Company Overview
13.3.3.2. Product Portfolio
13.3.3.3. SWOT Analysis
13.3.3.4. Financial Overview
13.3.3.5. Strategic Overview
13.3.4. Giant Eagle, Inc.
13.3.4.1. Company Overview
13.3.4.2. Product Portfolio
13.3.4.3. SWOT Analysis
13.3.4.4. Financial Overview
13.3.4.5. Strategic Overview
13.3.5. Healthxchange Pharmacy
13.3.5.1. Company Overview
13.3.5.2. Product Portfolio
13.3.5.3. SWOT Analysis
13.3.5.4. Financial Overview
13.3.5.5. Strategic Overview
13.3.6. LloydsPharmacy
13.3.6.1. Company Overview
13.3.6.2. Product Portfolio
13.3.6.3. SWOT Analysis
13.3.6.4. Financial Overview
13.3.6.5. Strategic Overview
13.3.7. MedExpress
13.3.7.1. Company Overview
13.3.7.2. Product Portfolio
13.3.7.3. SWOT Analysis
13.3.7.4. Financial Overview
13.3.7.5. Strategic Overview
13.3.8. Netmeds
13.3.8.1. Company Overview
13.3.8.2. Product Portfolio
13.3.8.3. SWOT Analysis
13.3.8.4. Financial Overview
13.3.8.5. Strategic Overview
13.3.9. Optum Rx, Inc.
13.3.9.1. Company Overview
13.3.9.2. Product Portfolio
13.3.9.3. SWOT Analysis
13.3.9.4. Financial Overview
13.3.9.5. Strategic Overview
13.3.10. PharmEasy
13.3.10.1. Company Overview
13.3.10.2. Product Portfolio
13.3.10.3. SWOT Analysis
13.3.10.4. Financial Overview
13.3.10.5. Strategic Overview
13.3.11. 1Mg
13.3.11.1. Company Overview
13.3.11.2. Product Portfolio
13.3.11.3. SWOT Analysis
13.3.11.4. Financial Overview
13.3.11.5. Strategic Overview
13.3.12. Rowlands Pharmacy
13.3.12.1. Company Overview
13.3.12.2. Product Portfolio
13.3.12.3. SWOT Analysis
13.3.12.4. Financial Overview
13.3.12.5. Strategic Overview
13.3.13. The Kroger Co.
13.3.13.1. Company Overview
13.3.13.2. Product Portfolio
13.3.13.3. SWOT Analysis
13.3.13.4. Financial Overview
13.3.13.5. Strategic Overview
13.3.14. Walgreen Co.
13.3.14.1. Company Overview
13.3.14.2. Product Portfolio
13.3.14.3. SWOT Analysis
13.3.14.4. Financial Overview
13.3.14.5. Strategic Overview
13.3.15. Well Pharmacy
13.3.15.1. Company Overview
13.3.15.2. Product Portfolio
13.3.15.3. SWOT Analysis
13.3.15.4. Financial Overview
13.3.15.5. Strategic Overview
List of Tables
Table 01: Global ePharmacy Market Size (US$ Mn) Forecast, by Product, 2017-2031
Table 02: Global ePharmacy Market Size (US$ Mn) Forecast, by Region, 2017-2031
Table 03: North America ePharmacy Market Size (US$ Mn) Forecast, by Country, 2017-2031
Table 04: North America ePharmacy Market Size (US$ Mn) Forecast, by Product, 2017-2031
Table 05: Europe ePharmacy Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017-2031
Table 06: Europe ePharmacy Market Size (US$ Mn) Forecast, by Product, 2017-2031
Table 07: Asia Pacific ePharmacy Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017-2031
Table 08: Asia Pacific ePharmacy Market Size (US$ Mn) Forecast, by Product, 2017-2031
Table 09: Latin America ePharmacy Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017-2031
Table 10: Latin America ePharmacy Market Size (US$ Mn) Forecast, by Product, 2017-2031
Table 11: Middle East & Africa ePharmacy Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017-2031
Table 12: Middle East & Africa ePharmacy Market Size (US$ Mn) Forecast, by Product, 2017-2031
List of Figures
Figure 01: Global ePharmacy Market Size (US$ Mn) and Distribution (%), by Region, 2017 and 2031
Figure 02: Global ePharmacy Market Revenue (US$ Mn), by Product, 2021
Figure 03: Global ePharmacy Market Value Share, by Product, 2021
Figure 04: Global ePharmacy Market Value Share, by Region, 2021
Figure 05: Global ePharmacy Market Value (US$ Mn) Forecast, 2017-2031
Figure 06: Global ePharmacy Market Value Share Analysis, by Product, 2017 and 2031
Figure 07: Global ePharmacy Market Attractiveness Analysis, by Product, 2022-2031
Figure 08: Global ePharmacy Market Attractiveness Analysis, by Region, 2022-2031
Figure 09: North America ePharmacy Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017-2031
Figure 10: North America ePharmacy Market Attractiveness Analysis, by Country, 2017-2031
Figure 11: North America ePharmacy Market Value Share Analysis, by Country, 2017 and 2031
Figure 12: North America ePharmacy Market Value Share Analysis, by Product, 2017 and 2031
Figure 13: North America ePharmacy Market Attractiveness Analysis, by Product, 2022-2031
Figure 14: Europe ePharmacy Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017-2031
Figure 15: Europe ePharmacy Market Attractiveness Analysis, by Country/Sub-region, 2017-2031
Figure 16: Europe ePharmacy Market Value Share Analysis, by Country/Sub-region, 2017 and 2031
Figure 17: Europe ePharmacy Market Value Share Analysis, by Product, 2017 and 2031
Figure 18: Europe ePharmacy Market Attractiveness Analysis, by Product, 2022-2031
Figure 19: Asia Pacific ePharmacy Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017-2031
Figure 20: Asia Pacific ePharmacy Market Attractiveness Analysis, by Country/Sub-region, 2017-2031
Figure 21: Asia Pacific ePharmacy Market Value Share Analysis, by Country/Sub-region, 2017 and 2031
Figure 22: Asia Pacific ePharmacy Market Value Share Analysis, by Product, 2017 and 2031
Figure 23: Asia Pacific ePharmacy Market Attractiveness Analysis, by Product, 2022-2031
Figure 24: Latin America ePharmacy Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017-2031
Figure 25: Latin America ePharmacy Market Attractiveness Analysis, by Country/Sub-region, 2017-2031
Figure 26: Latin America ePharmacy Market Value Share Analysis, by Country/Sub-region, 2017 and 2031
Figure 27: Latin America ePharmacy Market Value Share Analysis, by Product, 2017 and 2031
Figure 28: Latin America ePharmacy Market Attractiveness Analysis, by Product, 2022-2031
Figure 29: Middle East & Africa ePharmacy Market Size (US$ Mn) Forecast and Y-o-Y Growth (%), 2017-2031
Figure 30: Middle East & Africa ePharmacy Market Attractiveness Analysis, by Country/Sub-region, 2017-2031
Figure 31: Middle East & Africa ePharmacy Market Value Share Analysis, by Country/Sub-region, 2017 and 2031
Figure 32: Middle East & Africa ePharmacy Market Value Share Analysis, by Product, 2017 and 2031
Figure 33: Middle East & Africa ePharmacy Market Attractiveness Analysis, by Product, 2022-2031
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