Online Pharmacy Market Industry Trends, Segmentation, Sales Revenue by 2027 - PharmEasy, Netmeds, CVS Health

The Online Pharmacy market research report provides an in-depth analysis of the current trends, latest developments, scenarios, market size, various drivers, restraints, and major players along with their profile details. The research report offers the historic data for year 2021 and 2027 and also provides the forecast data from year 2021 to 2027 which is based on revenue. With the help of all these information research report helps the market participants to improve market positions. With the help of all these insights Online Pharmacy market research report recommends a business strategy for present market participants to strengthen their position in the market.

The data studied for the preparation of the report takes into account the current major players and the major players that will be listed. Industry top players are: PharmEasy, Netmeds, CVS Health, Walgreen, Cigna, Giant Eagle, Zur Rose AG, Kroger, Rowlands Pharmacy, UnitedHealth Group, 1mg, MyDawa, Shanghai Yibang Medical Information Technology Co., Ltd., 111,Inc., China Resources

The Global Online Pharmacy Market Size is Projected to Reach at a CAGR of 13.85% during 2021-2027.

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Market Overview

The market is expected to witness drastic growth over the COVID-19 pandemic. The lockdown and travel restrictions, along with the fear of getting infected with the SARS-CoV2 virus, led to an increased dependence on online pharmacies for the purchase of both over-the-counter and prescription drugs. Also, in-person doctor visits are being replaced by virtual-based teleconsultations, which results in the generation of digital prescriptions. Similarly, key players are coming up with various strategies to combat the pandemic.

For instance, in March 2020, CVS Health began to implement new measures to balance the demand for the off-label use of drugs that are used in the treatment of both COVID-19 and other chronic diseases. Additionally, as the trend of non-contact delivery has been in progress, given the COVID-19 pandemic, the demand for e-pharmacy has increased over the current crisis.

The growth of the e-pharmacy market is attributed to a rise in the number of internet consumers, increased access to web-based and online services, and the rising implementation of e-prescriptions in hospitals and other healthcare services.

Covid-19 Impact and Recovery Analysis:

The number one goal of this Online Pharmacy Market document is to provide Quantitative records withinside the form of charts and graphs. The information regarding market fundamentals is provided surely for the sake of readers. All the readers on the side of stakeholders will understand the market situations and business enterprise environment because it needs to be through this properly-planned Market analysis. It turns smooth to collect the effect of COVID-19 on the market boom through this Online Pharmacy market document.

Online Pharmacy market Segmentation By Type:

Prescription Drugs

Over the Counter Drugs

Online Pharmacy market Segmentation By Application:

App only

Online store

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Key Market Trends

The Over-the-Counter Drugs Segment, under Drug Type, is Expected to Grow at the Fastest Rate, during the Forecast Period

The over-the-counter drug segment is poised to witness lucrative growth over the forecast timeframe. Major industry trends, such as Rx to OTC switch by pharmaceutical manufacturers, a growing tendency of people toward self-medication in developing regions, increasing burden of pain, and inclination of customers towards online pharmacies are strongly driving the segmental growth.

The increasing patent expiration rates are resulting in switching from Rx to OTC by the companies as a counterstrategy. In February 2020, the US Food and Drug Administration converted three prescription drugs to over-the-counter drugs, which include GlaxoSmithKline’s Voltaren Arthritis Pain, Alcon’s Pataday Twice Daily Relief, and Once Daily Relief (olopatadine HCl ophthalmic solution/drops, 0.2%).

Regional Analysis:

North America Holds the Largest Market Share of the E-pharmacy Market, and is Expected to Witness the Same Trend over the Forecast Period

North America accounts for the largest share of the studied market. This can be primarily attributed to the greater number of internet users and higher adoption of online services, which are expected to augment the growth of the market over the forecast period. 

With the growing burden of COVID-19 in the United States, the American Association of Homeopathic Pharmacists (AAHP) has come up with the law the Coronavirus Aid Relief and Economic Security (CARES) Act (HR 748). This legislation was incorporated in the direction to encourage the consumers to depend more on OTC products for relief of self-treatable symptoms, which can be reimbursed through pre-tax funds. Therefore, with the rising awareness of online pharmacies, it is expected that these initiatives from the government are expected to boost the adoption of online pharmacy services for the purchasing of the drugs without hassle in the United States market, which helps in the growth of the E-pharmacy market in this region.

North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

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Recent Developments

In August 2020, Amazon launched its online pharmacy service, named "Amazon Pharmacy" for both over-the-counter and prescription-based medicines in Bangalore, India.

In March 2021, Phoenix UK has bought the online platform Co-op Health to help independent pharmacies compete in the digital pharmacy market.

Significant Features and Key Highlights of the Reports:

– Detailed overview of Online Pharmacy Market

– Changing market dynamics of the industry

– In-depth market segmentation by Type, Application etc.

– Historical, current and projected market size in terms of volume and value.

– Recent industry trends and developments

– Competitive landscape of Online Pharmacy Market

– Strategies of key players and product offerings

– Potential and niche segments/regions exhibiting promising growth.

The report gives answers to the following:

What strategies are followed by key players to fight this Covid-19 situation?
What are the essential matters drivers, opportunities, challenges, and dangers of the market will face surviving?
Which are the leading market players in the Online Pharmacy industry?
What is the predicted compound annual growth rate (CAGR) of the global marketplace during the forecast period (2021-2027)?
What could be the anticipated value of the Online Pharmacy marketplace in the during the forecast period?
Impact of COVID-19:

The research includes historic data from 2016 to 2021 and forecasts until 2027 which makes the Online Pharmacy market report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Customization: -

The Global Online Pharmacy Market report may be modified to meet your specific business needs. Because we understand what our clients want, we provide up to 20% customization for any of our Market Intelligence Data reports at no additional cost to all of our Users.

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