The global e-pharmacy market was valued at USD 63.33 billion in 2022 and is expected to grow at a CAGR of 19.36% during the forecast period. The main drivers of market expansion include the increasing use of the internet around the globe, improved healthcare service digitization, and a rise in tech-savvy consumers. Convenience-driven consumer preferences for online shopping are also contributing to the expansion. Overall development is predicted to be boosted by the healthcare sector's growing use of digital technology and e-commerce.
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The market is developing as a result of rising smartphone adoption. ePharmacy solutions are required to cut operating costs due to the increasing healthcare sector and high operating expenditures. As chronic illnesses become more prevalent, there is an increased demand for many healthcare products, particularly pharmaceuticals. It symbolizes the expanding use of online drug shopping across the globe.
As a result of the lockdown, travel restrictions, and concern over COVID-19 virus infection, more people are turning to online pharmacies to buy over-the-counter and prescription medications. Additionally, virtual-based teleconsultations have taken the place of in-person medical appointments, which has led to the development of digital pharmaceuticals. Similarly, to this, important players developed a variety of tactics to fight the pandemic. For instance, Flipkart introduced Flipkart Health+ in November 2021 after buying the bulk of Sastasundar Marketplace Limited. During the COVID-19 pandemic, services were significantly needed to provide individuals with essential pharmaceuticals. Flipkart joined this industry at that time.
The pandemic has altered the top priority for health systems worldwide. It has inspired emerging nations to reconsider their priorities for urban infrastructure. Many countries struggled to combat the pandemic while advancing other healthcare objectives. Several nations, particularly India, are utilizing the COVID-19 outbreak as an opportunity to strengthen their health systems. Growing public attention to developing and enhancing the healthcare system may support e-pharmacy market expansion.
Online pharmacies emerged as one of the biggest beneficial factors of the pandemic-induced lockdown, even though medical supply stores were considered essential services since people opted to purchase their medications online to reduce the danger of disease transmission. Customers have been forced to use ePharmacy platforms to order medicines online from their homes rather than going to brick-and-mortar pharmacies and diagnostic facilities due to high caseloads in some countries and regional lockdowns. Due to increased government efforts encouraging the adoption of online drug purchases, ePharmacy has experienced tremendous growth throughout the epidemic. Numerous industry participants have increased their strategic endeavors due to the COVID-19 epidemic.
Growth Drivers
In recent years, both the Central and State Governments have recognized the value of E-Pharmacies, classifying them as vital services and promoting them on the Aarogya Setu App. The government has implemented several initiatives to encourage the expansion and improve the ease of doing business in the E pharmacy market, including the Ayushman Bharat, National Digital Health Mission (NDHM), Startup India, Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP), and Digital India.
E-pharmacies can help to ensure a supply of genuine and authorized pharmaceuticals at affordable prices with easier accessibility by eliminating intermediaries and offering savings (online platform, home delivery & improved digital payment infrastructure). E-pharmacies are projected to be widely used nationwide due to their convenience and value.
The market is primarily segmented based on Drug Type, Product Type, Payment Method, Platform and region.
By Drug Type |
By Product Type |
By Payment Method |
By Platform |
By Region |
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During the projected period, rising consumer awareness and the demand for OTC drugs are anticipated to fuel the worldwide ePharmacy market. Additionally, it is launched that increasing demand for cutting-edge technologies will drive the market. Further, an expanding geriatric population is anticipated to support market expansion.
The platform-based category forecasts a market where services for frequent patients are offered via apps and websites. Additionally, they provide patients with discounts and coupons. Further, they engage with manufacturers to offer lower prices, as well as with medical clinics, which boosts the market growth.
The major portion of the market under investigation comes from North America. This is mostly due to the increased usage of online services and the increased number of internet users, predicted to accelerate the market's expansion throughout the forecast period. For instance, Medicure Inc.'s subsidiary Marley Drug Pharmacy in the United States introduced its nationwide direct-to-consumer e-commerce pharmacy platform in February 2022. With this, Americans may purchase affordable, FDA-approved medications from Marley Drug on its brand-new e-commerce website, which provides home delivery to all 50 states.
The demand for over-the-counter pharmaceuticals rises as the frequency of minor diseases like the flu, fever, backaches, coughs, and colds rises. As a result, more people are turning to internet pharmacies to get these prescriptions. Additionally, it is anticipated that the e-pharmacy market in North America, particularly the United States, will be driven by the convenience of ordering medications from the comfort of home.
The Asia Pacific market is anticipated to expand at a quicker CAGR during the forecast period. This is attributable to the rising prevalence of common illnesses, which is predicted to increase demand for associated over-the-counter (OTC) medications. The industry is expanding due to government initiatives to raise the caliber of healthcare services. The expanding popularity of the direct-to-patient approach is also driving the market.
Some of Major players operating in the global E-pharmacy which include Express Scripts Holding, Giant Eagle, The Walgreen Company, Kroger Co, CVS Health Corporation, DocMorris, PharmEasy, Wal-Mart Stores, OptumRx, Rowland Pharmacy, Lloyds Pharmacy Ltd (McKesson Corporation), 1mg and Netmeds among other players.
Report Attributes |
Details |
Market size value in 2023 |
USD 75.50 billion |
Revenue forecast in 2032 |
USD 371.25 billion |
CAGR |
19.36% from 2023 - 2032 |
Base year |
2022 |
Historical data |
2019 - 2022 |
Forecast period |
2023 - 2032 |
Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2032 |
Segments covered |
By Drug Type, By Product Type, By Payment Method, By Platform and region, By Region |
Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
Key companies |
Express Scripts Holding, Giant Eagle, The Walgreen Company, Kroger Co, CVS Health Corporation, DocMorris, PharmEasy, Wal-Mart Stores, OptumRx, Rowland Pharmacy, Lloyds Pharmacy Ltd (McKesson Corporation), 1mg and Netmeds among other players |
Key companies in e-pharmacy market are Express Scripts Holding, Giant Eagle, The Walgreen Company, Kroger Co, CVS Health Corporation, DocMorris, PharmEasy, Wal-Mart Stores, OptumRx, Rowland Pharmacy.
The global e-pharmacy market expected to grow at a CAGR of 19.36% during the forecast period.
The e-pharmacy market report covering key segments are drug type, product type, payment method, platform and region.
key driving factors in e-pharmacy market are rising use of digital technology and e-commerce and government has implemented several initiatives.
The global E-pharmacy market size is estimated to reach USD 371.25 billion by 2032.