E-Pharmacy Market Segmentation And By Key Players Kroger Co., The Walgreen Company, Express Scripts Holding Company, CVS Health, Zur Rose Group AG, Giant Eagle

Global E-Pharmacy Market, by Drug class (OTC Drugs and Prescription Drugs), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 31.5 Bn in 2016 and is projected to exhibit a CAGR of 16.5% over the forecast period (2017–2025)

The company will use this funding to expand its business across India. In 2017, 1mg, an India-based online pharmacy company received US$ 15 Mn funding in Series C round. In 2017, Zur Rose AG, a Switzerland-based online pharmacy company, launched its initial public offering (IPO). The company plans to use the funds raised through IPO to strengthen its position in Europe E-pharmacy market. This increasing investment will support expansion of the business and hence, these companies will be able to cater more customers, which results in growth of E-pharmacy market in the near future. Moreover, some players in the market are focusing on inorganic growth model. For instance in 2016, online pharmacy company 1mg, acquired an India-based company, Medd. With this strategic acquisition, 1mg increased its offerings by providing diagnostic services to its customers. 1mg customers can book and appoint home sample collection and receive test results online. Furthermore, companies in the market are also focusing on expanding its business in new geographies, remain competitive in the market. For instance, in 2016, 1mg expanded its online pharmacy business across 30 cities in India with the help of funding’s raised by HBM Healthcare Investments.

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Prohibiting sale of illegal drugs online is a major concern of regulatory bodies in key regions such as North America, Europe and Asia Pacific. For instance, Food and Drug Administration (FDA) has prohibited the import of prescription drugs, and declared it as illegal in the U.S. Therefore, all online pharmacies need to be physically located in the country. E-pharmacy companies need to be licensed at the state-level. However, it does not need physical presence in state, it just needs to get licensed if it wants to deliver its products in a particular state. Moreover, FDA launched BeSafeRx campaign in 2012 to increase awareness of the dangers of buying prescription medicines from fake online pharmacies.

The global E-pharmacy market is expected to exhibit a CAGR of 16.5% over the forecast period (2017–2025), owing to increasing investments by key players to scale up E-pharmacy business

North America was the dominant region in the global E-pharmacy market and is expected to retain its dominance over the forecast period (2017–2025). This is due to presence of major key players in the region. For instance, The Kroger Co., Walgreen Co., and CVS Health are the major players in North America E-pharmacy market, and supply online medications in the region.

Asia Pacific is expected to exhibit highest growth over the forecast period, due to increasing number of E-pharmacy startups in key countries such as India, dedicated to expand their E-pharmacy business across India. For instance, startups like 1mg, Myra Medicines, EasyMedico, PharmEasy, and Netmeds has gain significant fioothold Indian E-pharmacy market in last few years.

Furthermore, in march 2017, Ministry of Health and Family Welfare (MoHFW), India proposed that an electronic platform will be developed where stakeholders in the pharmaceutical supply chain such as retail shop, E-pharmacy chain have to register itself and to enter all details of the medicines received, sold, returned to the manufacturer or disposed. The electronic platform will be helpful in identifying any wrong doing in distribution of drugs.

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