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ePharmacy Market worth $163.84 billion by 2030, growing at a CAGR of 17.29% - Exclusive Report by 360iResearch
ePharmacy Market | 360iResearch
The Global ePharmacy Market to grow from USD 53.62 billion in 2023 to USD 163.84 billion by 2030, at a CAGR of 17.29%.
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ePharmacy offers easier access to medicine purchases that significantly benefit elderly patients from nuclear families and patients not able to go out. The expansion of the healthcare sector, with increasing operational costs, has created the need to cut operating costs by implementing ePharmacy solutions. The ePharmacy model is simple to use and has replaced traditional pharmacies, including medical services, and experienced an increase in site traffic and sales due to the COVID-19 pandemic. The continuous adoption of digital technologies in the healthcare sector for better accessibility and flexibility and the growing geriatric population with chronic and acute conditions across the globe increases the adoption of ePharmacy worldwide. However, the requirement of technical expertise and adequate infrastructure for ePharmacy development and issues about patient data privacy & security due to the emergence of hacking and fishing activities is significantly impeding the adoption of ePharmacy. In addition, companies focus on deploying artificial intelligence (AI) and blockchain technology and introducing virtual assistance in ePharmacy to provide great convenience and offer a wider range of options than a traditional pharmacy.
The rising adoption of eCommerce, growing geriatric population, increasing online sales, developed healthcare infrastructure, and positive attitude towards adopting new technologies are expanding the utilization of ePharmacy in the United States. Approximately 80% of the population of the U.S. is connected to ePharmacy, and the trend is shifting toward the direct-to-patient model. High caseloads in the United States and regional lockdowns have pushed consumers to adopt the ePharmacy platforms to order medicines online from the comfort of their homes rather than visiting offline pharmacies and diagnostic centers. Emerging economies, such as China and India, possess high growth potential owing to the large population base coupled with increasing government initiatives supporting the adoption of digital technologies. In the UK and Germany, the utilization of ePharmacy is growing significantly due to the rise in inclination toward the online mode of medicine purchase among the people. According to the survey for the General Pharmaceutical Council (2021), 25% of people in the UK are expected to use an online pharmacy in the future. Doctors prefer ePrescriptions for patients to access medicine with the help of ePrescriptions quickly.
Market Segmentation & Coverage:
This research report categorizes the ePharmacy Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Product, market is studied across Cold & Flu, Dental, Skin Care, Vitamins, and Weight Loss. The Dental is projected to witness significant market share during forecast period.
Based on Drug Type, market is studied across Over the Counter (OTC) Drugs and Prescription Drugs. The Prescription Drugs is projected to witness significant market share during forecast period.
Based on Type, market is studied across Integrated and Standalone. The Integrated is projected to witness significant market share during forecast period.
Based on Business model, market is studied across Direct, Marketplace, and Pharmacy. The Direct is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas is projected to witness significant market share during forecast period.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the ePharmacy Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the ePharmacy Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the ePharmacy Market, highlighting leading vendors and their innovative profiles. These include Amazon.com, Inc., Apex Healthcare Berhad, Apollo Pharmacies Ltd., Aster Pharmacies Group LLC, BinSina Pharmacy, CareOnGo, Chemist Direct, CVS Health Corporation, De Online Drogist, DOCIB Group, Euro-pharmas, Express Scripts Holding Company by Cigna, HealthPlus Pharmacy, Healthxchange Pharmacy UK Ltd., Life Pharmacy, LloydsPharmacy Ltd., Lékárna WPK SRO, Mahendra ePharmacy Pvt. Ltd., mChemist Global Pvt. Ltd., Medexpresspharma by Life Wind Medicare Pvt. Ltd., Medicina Pharmacy, MonCoinSanté, myPOS Software Solutions (Pvt) Ltd., Netmeds by Reliance Retail Ltd., Newpharma by Colruyt Group, OneHealth Nigeria, OptumRx, Inc., Oxford e-Pharmacy, Pharm24.gr, Pharmacynet, Pharmeasy by Axelia Solutions Pvt. Ltd., Practo Technologies Pvt. Ltd., Rowlands Pharmacy by Phoenix Group, Shop Apotheke Europe N.V., Tata 1mg, The French Pharmacy, The Independent Pharmacy, The Kroger Co., UK Meds Direct Ltd., Vamida s.r.o., Walgreen Co., Walmart Inc., Wockhardtepharmacy, and Zur Rose Group AG.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. ePharmacy Market, by Product
7. ePharmacy Market, by Drug Type
8. ePharmacy Market, by Type
9. ePharmacy Market, by Business model
10. Americas ePharmacy Market
11. Asia-Pacific ePharmacy Market
12. Europe, Middle East & Africa ePharmacy Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the ePharmacy Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the ePharmacy Market?
3. What is the competitive strategic window for opportunities in the ePharmacy Market?
4. What are the technology trends and regulatory frameworks in the ePharmacy Market?
5. What is the market share of the leading vendors in the ePharmacy Market?
6. What modes and strategic moves are considered suitable for entering the ePharmacy Market?
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