E-pharmacy Market Is Growing Rapidly 2019 | Top Vendors LLOYDS Pharmacy Limited, Pharmacy2u Ltd., Gordons Direct, Shop Apotheke, CVS Health, Walgreen Company, Familymeds, Inc., The Medicine Shoppe Pharmacy

The General Pharmaceutical Council defines an e-pharmacy or internet pharmacy as a registered pharmacy, which supplies medicines and other healthcare & personal care products and/or provides other professional services over the internet, or makes arrangements for the supply of such products or provision of such services over the internet.

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Increasing customer preference towards e-pharmacy is attributed to ease and convenience in ordering and accessing websites. Customers can also access a wide range of products at competitive prices at single click of a button, which further increases consumer preference toward e-pharmacy stores. For instance, in 2016, according to a survey conducted by Consumer Online Foundation and Bureau of Research on Industry and Economic Fundamentals (BRIEF), 61% people prefer to buy medicines online in India.

Furthermore, as online pharmacies do not have a physical pharmacy, they are able to keep the costs low and can offer products at attractive prices. Therefore, lower prices, discounts, and varied package offers and free home delivery services with preferred time and address are some of the major advantages offered by e-pharmacy facilities.

Market Dynamics

E-pharmacy beauty and personal care (BPC) market was valued at USD 7.69 billion in 2018 and is predicted to grow further recording a CAGR of 11.4% over the forecast period. Factors such as changing lifestyles, rising number of youth and working population, along with increasing awareness about personal care and beauty products is contributing to high demand for personal care products.

In 2018, North America held dominant position in the global e-pharmacy (BPC) market. The market growth is driven by rising geriatric population along with growing disposable income. Increasing disposable income coupled with large base of young consumers is expected to boost demand for personal & beauty care products, thereby boosting the sales of e-pharmacy beauty and personal care products.

According to Trading Economics Statistics on Disposable Personal Income in the U.S., the disposable personal income in the U.S. averaged US$ 5,200.2 billion in 1959, which increased to US$ 15,742.81 billion in November 2018. Asia Pacific e-pharmacy (BPC) market is expected to exhibit a CAGR of over 14% during the forecast period.

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Few of the major companies operating in the global e-pharmacy (BPC) market include, LLOYDS Pharmacy Limited, Pharmacy2u Ltd., Gordons Direct, Shop Apotheke, CVS Health, Walgreen Company, Familymeds, Inc., The Medicine Shoppe Pharmacy, Cardinal Health, and Rite Aid Corporation.

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