Press release
Global e-Pharma Market (Online Pharmacy market) to See Huge Growth by 2026 | Major Players are Boehringer Ingelheim International GmbH, AbbVie Inc., Aurobindo Pharma, Pfizer Inc., Walmart Inc
Global e-Pharma Market
The Online Pharmacy market (Global e-Pharma Market ) is divided into products, applications, end users and regions. The analysis of the historical year and the base year 2018 in 2017 shows that new highs will be achieved in the 2019-2029 Online Pharmacy market. The best players and brands on the market make calculated movements such as product launches, research, joint ventures, mergers and acquisitions.
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Key Developments in the Market:
In December 2018, Giant Eagle Inc. announced its acquisition with Ricker Oil Company Inc. The main of the acquisition is to expand Giant Eagle's GetGo and Ricker's brand in Indiana market and provide customers with fresh products and services.
In February 2016, Wal-Mart Stores, Inc. announced the agreement McKesson Corporation for the distribution of generic pharmaceuticals. The main aim of the agreement is to expand their business worldwide and McKesson will distribute all the pharmaceuticals by Walmart.
The main factors behind the growth of the market are:
Increasing aging population: One of the most important factors behind the growth of e-pharmacy is the availability of older population group that have been prescribed a large amount of medicines and drugs by their physicians and therefore require frequent filling of their medicines. This population group also more comfort in various service offerings, and therefore with the availability of e-pharma they can adopt easier ordering of medicines from the comfort of their homes without having to partake any extra efforts to fill their prescriptions
Rising prevalence for e-prescriptions: Along with the availability of e-pharma services, the availability of physicians shifting towards online models of service delivery has resulted in increasing volume of e-prescriptions being available to the different consumers. This model of service delivery results in higher remuneration for the physicians as they do not have to bear the overhead costs of maintaining a particular healthcare facility. The rising availability of e-prescriptions being prescribed to patients is therefore expected to improve the overall share of the market players providing e-pharma services
The market is segmented on the basis of type as pharmacy benefit manager, legitimate internet pharmacy, illegal or unethical internet pharmacy; application as hospitals, personal use, government research.
Some of the recent market developments are as follows:
In May 2019, Medlife announced that they had acquired Myra, which will help Medlife expand their services to around twenty cities throughout India and also gain express delivery services. This will increase the overall value and quality of services with Medlife and the recently acquired service operations will be integrated into the business operations over the next six months
In June 2018, Amazon announced that they had PillPack for approximately USD 1 billion. This acquisition is evident to the presence of strict competition existing in the market with various market players introducing new & innovative services, and also dealing in extension of their servicing capabilities. With the combination of capabilities of Amazon and expertise of PillPack in pharmaceutical market, the consumers and the organizations alike will experience wide-range of benefits
"According to Data Bridge Market Research, global e-pharma market is expected to be growing at a healthy CAGR of 14.80% during the forecast period of 2019 to 2026"
Some of the major players operating in the market are Boehringer Ingelheim International GmbH, AbbVie Inc., Aurobindo Pharma, Pfizer Inc., Walmart Inc., Walgreen Co., Express Scripts Holding Company, The Kroger Co., L Rowland & Co, DocMorris, Giant Eagle, Inc., OptumRx, Inc., CVS Health, Merck & Co., Inc., Thermo Fisher Scientific among others.
Rapid rise in the consumers shifting towards online sources of product ordering, purchasing is expected to present the players of e-pharma market with a greater consumer base wanting to shift their purchases for pharmaceuticals and any drugs to online models, rather than staying true to traditional pharmacists. This is due to the fact that e-pharma will provide wide range of benefits and features, while also providing drugs at a reduced cost.
Segmentation: Global e-Pharma Market
By Type
Pharmacy Benefit Manager
Legitimate Internet Pharmacy
Illegal or Unethical Internet Pharmacy
By Application
Hospitals
Personal use
Government research
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Market Drivers
Increasing aging population is driving the growth of this market
Rising prevalence for e- prescriptions is another factor driving the market growth.
Industry Overview of Online Pharmacy
Industry Chain Analysis of Online Pharmacy
Manufacturing Technology of Online Pharmacy
Major Manufacturers Analysis of Online Pharmacy
Global Productions, Revenue and Price Analysis of Online Pharmacy by Regions, Manufacturers, Types and Applications
Global and Major Regions Capacity, Production, Revenue and Growth Rate of Online Pharmacy 2014-2019
Consumption Volumes, Consumption Value, Import, Export and Sale Price Analysis of Online Pharmacy by Regions
Gross and Gross Margin Analysis of Online Pharmacy
Marketing Traders or Distributor Analysis of Online Pharmacy
Global and Chinese Economic Impacts on Online Pharmacy Industry
Development Trend Analysis of Online Pharmacy
Contact information of Online Pharmacy
New Project Investment Feasibility Analysis of Online Pharmacy
Conclusion of the Global Online Pharmacy Industry 2019 Market Research Report
Contact:
Data Bridge Market Research
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UK: +44 208 089 1725
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About Data Bridge Market Research:
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