Overview

E-pharmacy market was valued over USD 38 billion by 2019 with a CAGR of 16% and it is estimated to skyrocket owing to the recent COVID-19 pandemic.

E-Pharmacy Market Introduction:

Rising penetration of internet worldwide, improvements in the healthcare infrastructure, growing awareness related to e-commerce amongst users, rising geriatric population are some of the key factors leading to the growth of the market. Furthermore, a rising transformation of consumer behaviour is another important factor responsible for the e-pharmacy market growth. Rising number of unmet needs and a sudden upsurge in online purchasing has aided the escalation of the market growth. As per Safe Medicines India, 2016, over 50 new start-ups have emerged in the country since 2014 that provide e-pharmacy services and it garnered a funding of over USD 90 million in 2015. Such emergence of start-ups has provided lucrative opportunities for the market growth.

With the rising COVID-19 outbreak, the demand for e-pharmacies has increased, especially in regions with strict lockdown scenarios where the number of COVID-19 patients are rising at a remarkable rate. People living in these regions and who suffer from diseases other than the COVID-19 require pharmaceutical supplies and with the lockdown, the patients are unable to get out of their homes to purchase medicines which is why e-pharmacy proves to be an effective alternative for fulfilling this demand. Furthermore, many e-pharmacy companies in India have started hiring new employee on an urgent basis to provide the necessary services. 1mg, which is a Gurugram based company, is looking to hire over 500 employees immediately while Bangalore-based Medlife has planned to fill up over 400 open positions, mainly for warehouse management and last-mile deliveries.

The North America region is expected to dominate the global market, and this is mainly owing to the rising geriatric population, increased disposable income, rise in online purchasing and high adoption rate of e-commerce. Furthermore, a strong presence of key market players shall reinforce the market growth in the region.

Key market players included are The Kroger Co., DocMorris (Zur Rose Group AG), Walgreen Co., Wal-Mart Stores Inc., Express Scripts Holding Company, Giant Eagle Inc., VS Health, Rowlands Pharmacy, OptumRx, Inc.

E-Pharmacy Market Segmentation:

By Drug Type

Over the Counter Drugs
Prescription Drugs

By Product

Skin Care
Dental
Cold & Flu
Others

By Region

North America
Europe
Asia Pacific
Latin America
Middle East And Africa

FutureWise Key Takeaways:

Growth prospects
SWOT analysis
Key market trends
Key data-points affecting market growth

Objectives of the Study:

To provide with an exhaustive analysis on the global e-pharmacy market by drug type, by product type and by region
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East and Africa
To record, evaluate and analyze competitive landscape mapping- product launches, technological advancements, mergers and expansions

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