Global E-Pharmacy Market: Key Highlights
- The Global E-Pharmacy Market is estimated to reach USD 123.2 billion by 2027 at a CAGR of 14.2% during the review period
- The e-pharmacy market is majorly segments into drugs type and product type
- On the basis of drugs type, the market is sub segmented into prescription drugs and over the counter (OTC) drugs. The prescription drugs is excepted to hold the highest share in the forecast period. as there is rising implementation of e-prescriptions, and the strict regulatory policies about the online pharmacies leading to the enhance the quality of drugs to be sold
- On the basis of region, the market is segmented into Americas, Europe, Asia-Pacific, and Middle East & Africa
- Americas accounted for the major market share, as the region has large adoption of ecommerce, an growing in the online orders, as well as the rise in the elderly population will lead to contribute in the growth of the market
- Top players that account for the major share include Avery Dennison Corporation, Cardinal Health, Coloplast Corp, CVS Health, Express Scripts Holding Company, Giant Eagle, Inc., OptumRx, Inc., The Kroger Co., Walgreen Co., Walmart and among others.
Global E-Pharmacy Market: Key Market Dynamics
- There has been growing internet penetration across the world is play a significant role for the e-pharmacy market. As the millennial in the generation are majorly depend on the online procurements of the goods such as counter medicines
- The rising usage of mobile application is also lead to enhance the demand of the e-pharmacy market growth
- Further, increasing adoption of ecommerce and digital technologies in healthcare as a significant opportunities for the market growth
- However, growing large number of illegitimate e-pharmacies are hindering the growth of the market.
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Global E-PHARMACY MARKET: Regional Overview
- America region is further divided in to North America and Latin America. Globally, Americas accounted for the major market share
- Americas accounted for the major market share, as the U.S is excepted to hold the high penetration market of internet due to the well-developed infrastructure as well as the rise in number of people suffering from Covid-19 is also lead to boost the market growth in the region
- In the region, U.S is a largest segment for the e-pharmacies market with the growing awareness about health as well as the increasing chronic diseases in the country.
- Asia-Pacific region is segmented into five major countries including China, Japan, India, Australia, and South Korea
- The region would grow at a significant growth rate, creating impressive opportunities for ePharmacy market players; with the factors such as growing in disposable incomes, improvement in internet penetration, as well as rise of e-commerce industry
- The rising incidences of chronic diseases as well as the other health disorders is also lead to boost the growth of the market in the region
Global E-Pharmacy Market: Key Players
Some of the key players operating in the Avery Dennison Corporation, Cardinal Health, Coloplast Corp, CVS Health, Express Scripts Holding Company, Giant Eagle, Inc., OptumRx, Inc., The Kroger Co., Walgreen Co., Walmart and among others.
Global E-Pharmacy Market: Key Developments
- On May 2020, Walgreens had announced a new digital enhancement to its recently launched ‘on the spot’ drive-thru shopping experience.
- On September 2018, , Walmart Inc. had announced the acquisition of Cornershop, Inc., which is a leading online marketplace for on-demand delivery from supermarkets, pharmacies as well as the specialty food retailers in Mexico and Chile.
- On October 2020, the CVS Pharmacy, the retail division of CVS Health, had announced the launch of QuickRenew, an online contact lens prescription renewal tool powered by technology from Premium Vision, is currently available on the CVS Optical website.
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