Healthcare E-Commerce Global Market Report 2024 - By Share, Size, Growth, Trends, Forecast To 2033

The healthcare e-commerce market size has grown rapidly in recent years. It will grow from $366.94 billion in 2023 to $434.88 billion in 2024 at a compound annual growth rate (CAGR) of 18.5%. The growth in the historic period can be attributed to emerging markets growth, adoption of advanced technology in the wake of covid-19, rapid growth in aging population, a rise in digital payments, and increased internet penetration.

The healthcare e-commerce market size is expected to see rapid growth in the next few years. It will grow to $874.76 billion in 2028 at a compound annual growth rate (CAGR) of 19.1%. The growth in the forecast period can be attributed to rising prevalence of chronic diseases and increasing awareness of a healthy lifestyle. Major trends in the forecast period include adopting wearable devices as this will ensure that healthcare e-commerce providers could enhance the reach of their businesses, utilize ar technologies to enhance their patient's personalized experiences, implement ai-powered tools to personalize the buying experience of their customers and increase revenues, focus on strategies such as product launches to enhance their product portfolio with improved technologies, invest in acquisitions to increase market share and expand their product portfolio offerings and providers should have a clear strategy for current and future offerings and offer a greater diversity of delivery models to stay competitive in the healthcare e-commerce sector.

Market Overview -
Healthcare e-commerce refers to the sale and purchase of healthcare goods and services using the internet. It enables healthcare institutions, such as hospitals, clinics, and other healthcare facilities, to purchase medical equipment and supplies through online channels. Healthcare e-commerce includes buying and selling medical devices and drugs and offers advantages such as convenience, lower prices and discounts, a wide range of products, replacement and refund policies, reviews and feedback, and quality certifications.

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Rising Consumer Spending And Increased Internet Penetration Drive Healthcare E-Commerce Market Growth
Increasing consumer spending on medical products, coupled with rising internet penetration, is expected to contribute to higher demand for the healthcare e-commerce market in the upcoming years. Growing demand for healthcare products and high internet penetration are enabling people to switch to online products, which in turn is creating higher demand for online healthcare products. For instance, in September 2021, according to the Centers for Medicare & Medicaid Services, a US-based federal agency within the U.S. Department of Health and Human Services, 2021, the expenditure on prescription drugs rose by 7.8% to reach a total of $378.0 billion, which is a faster growth rate than the 3.7% increase recorded in 2020. Also in 2021, spending on Medicare surged by 8.4% and reached $900.8 billion, making up 21% of the total National Health Expenditures (NHE). Additionally, Medicaid spending increased by 9.2% and reached $734.0 billion, accounting for 17% of the total NHE. This scenario is anticipated to propel the revenues of the growth of the healthcare e-commerce market over the forecast period.

Competitive Landscape -
Major companies operating in the healthcare e-commerce market report are Amazon.com, Inc., Alibaba Health Information Technology Limited, Walgreens Boots Alliance Inc., LloydsPharmacy Limited (McKesson Europe), JD Health International Inc. (JD.com, Inc.), CVS Health Corporation, Shop Apotheke Europe, Teladoc Health, Inc, DocMorris N.V., eBay Inc., 1mg.com , Healthkart.com , Netmeds.com, PharmEasy.com , Medlife.com, SastaSundar.com , Ali Health, Jianke.com, 111, Inc , Shimadzu Corporation, Menicon, Konica Minolta , Omron , Fukuda , Nihon Kohden , Sysmex, Nipro, Olympus, Echo , Babylon Health , BenevolentAI , Lantum , DoctorLink , Unmind , Thriva , Pando Health , Owkin, Dental Monitoring , eCential Robotics , Enterome, Hype, BioSerenity , Oxford Nanopore Technologies , Doctolib , Telehealth app KRY , Albertsons Companies Inc ., Optum Rx Inc ., Rowlands Pharmacy , Giant eagle Inc ., Walmart Stores Inc ., CIGNA (Express Scripts) , Rite Aid , Zur Rose Group AG , PlanetRX.com Inc ., Familymeds Inc , Medisave, The Kroger Co. , MercadoLibre, Al-Noor Medical Company , VPS Healthcare , Tumbay group , Al-Zahra Group, Belhoul Lifecare , Emirates Healthcare , Mediclinic Middle East , Aster DM Healthcare , Gulf Healthcare International , Gulf Medical Projects Company , Zulekha Hospital, Saudi German Hospital Group, Aster DM Healthcare, Vezeeta , Yodawy Smart Medical Services , Bypa-ss , Rology, Shezlong, Estshara, DentaCarts , Vitls, Healthforce, 3X4 Genetics , RecoMed , SyncroPhi , Ingress Healthcare , VitruvianMD, Link Health Technology

Rise Of Healthcare Applications Connecting Doctors And Patients In Healthcare E-Commerce
The launch of new healthcare applications for connecting doctors and patients directly is a leading trend driving the healthcare e-commerce market. In November 2021, SMV Healthcare, a Chennai-based pharmaceuticals company, launched MyMedicalShop.com, an online platform for purchasing medicine and healthcare products, e-consultations, and diagnostic tests at home. Therefore, the launch of new healthcare applications is likely to shape the growth of the healthcare e-commerce market in the near future.

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Key Segments -
The healthcare e-commerce market covered in this report is segmented -
1) By Type: Drug, Medical Devices
2) By Application: Telemedicine, Caregiving Services, Medical Consultation
3) By End User: Hospitals, Clinics, Others

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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