GCC E-Pharmacies market is expected to grow at a CAGR of 9% during 2021-2026

The growth of the e-pharmacy market is attributed to the increasing awareness pertaining to e-commerce amongst users, growing IT infrastructure, and increase in smartphone users. The growing adoption of telemedicine supporting to drive the demand for healthcare products through online pharmacies. Further, the emergence of various start-ups which are more focused on providing quality and affordable medicines and the efficiency of e-pharmacies in delivering medical products at a low cost are the key factors aiding the growth of the e-pharmacy market. However, consumer awareness regarding data security and various government regulations and policies are the challenges restraining the growth of the market.

According to the MarkNtel Advisors’ research report, “GCC E-Pharmacies Market Analysis, 2021”, the market is expected to grow at a CAGR of 9% during (2021-26).

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Key questions answered in the study
1. What are the current and future trends in GCC E-Pharmacies market?
2. How the industry has been evolving in terms of geography and services adoption?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for GCC E-Pharmacies market?
5. What are the customer orientation, purchase behavior, and expectations from the GCC E-Pharmacies market service provider across various countries?

Impact of COVID-19 Pandemic

The COVID-19 pandemic has reached an uncertain stage and has adversely affected the economy of the entire world. The imposition of lockdown, restriction on movement, social distancing measures, and need for isolation has been a convenient motivation for driving the growth of the e-pharmacy market. Purchase of the medicines through the online platforms is also rising due to ease of access in one click with safety during the COVID-19 pandemic. Further, due to the rising fear of getting infected, demand for digital and e-services has escalated, thereby, driving the growth of the e-pharmacy market.

For detailed analysis: https://www.marknteladvisors.com/research-library/gcc-e-pharmacies-market.html

“GCC E-Pharmacies Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the market potential, key factors impacting market growth, hotspots and opportunities available for E-Pharmacy providers across the countries. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

Cold and Flu Segment Exhibits Fastest Growth
Based on the product type, the Cold and Flu segment is expected to grow at a considerable rate during the forecast period. Cold and Flu is the most commonly occurring disease among all the age groups, therefore, demand for medicines for curing cold and flu without the prescription is high. Moreover, due to the outbreak of the COVID-19 pandemic, the need for keeping cold and flu medicines in stock has increased as it is the common symptom of COVID-19. Thus, the segment is projected to contribute to the overall growth of GCC E-Pharmacies market in the forecast period as revealed by MarkNtel Advisors’ research report “GCC E-Pharmacies Market Analysis, 2021”.

According to MarkNtel Advisors, the major leading players in the GCC E-Pharmacies market are Care n Cure Pharmacy, Wellcare Pharmacy, BinSina, Aster Pharmacy (Aster Online), Four Seasons Pharmacy LLC, MediSouq, Kulud Pharmacy, Nahdi Pharmacy (Nahdi Medical Company), Al-Dawaa Pharmacies (DMSCO), Nasser Pharmacy W.L.L., Al Mutawa Pharmacies, Inc.

Market Segmentation:
1. By Drug Type (Over-the-Counter (OTC) Drugs, Prescription Drugs)
2. By Product Type (Cold and Flu, Vitamins, Skin Care, Weight Loss, Dental, Others (Baby Care, Maternity Care, etc.))
3. By Operating Platform (Website, App)
4. By Delivery Model (Direct, Pharmacy, Marketplace)
5. By Country (UAE, Saudi Arabia, Bahrain, Oman, Qatar, Kuwait)
6. By Competitors (Care n Cure Pharmacy, Wellcare Pharmacy, BinSina, Aster Pharmacy (Aster Online), Four Seasons Pharmacy LLC, MediSouq, Kulud Pharmacy, Nahdi Pharmacy (Nahdi Medical Company), Al-Dawaa Pharmacies (DMSCO), Nasser Pharmacy W.L.L., Al Mutawa Pharmacies, Inc)

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We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

This release was published on openPR.