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Prominent Digital Pharmacy Market Trend for 2025: Revolutionizing Pharmacy Services With User-Friendly App Innovation
Digital Pharmacy
The increasing use of e-commerce in the healthcare sector is expected to accelerate the growth of the digital pharmacy market. E-commerce in healthcare involves buying and selling healthcare products and services online. The rise in e-commerce adoption is driven by factors such as convenience, improved patient engagement, and consumer preferences. Digital pharmacies strengthen e-commerce by offering accessible medications, broader product ranges, personalized care, efficient prescription management, cost savings, and integration with telemedicine. For example, in August 2022, the Australian Digital Health Agency reported that 118.2 million telehealth services were provided to 18 million patients in 2022. As a result, the growth of e-commerce in healthcare is fueling the digital pharmacy market.
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What Is the projected market size and growth rate for the digital pharmacy market?
The digital pharmacy market has seen exponential growth in recent years. It is projected to grow from $139.91 billion in 2024 to $168.58 billion in 2025, at a CAGR of 20.5%. This growth is driven by the increasing number of internet users, advancements in life sciences research, demand for remote consultations, expanding diagnostic services, and the rise of illegal pharmacies.
The digital pharmacy market is forecast to grow to $350.73 billion by 2029 with a CAGR of 20.1%. This growth is fueled by the increasing demand for OTC products, online drug procurement, automation, and consumer demand for online pharmaceuticals. Trends include digital tech adoption, innovative e-pharmacy models, and advancements in telemedicine.
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What new trends are reshaping the digital pharmacy market and its opportunities?
Leading companies in the digital pharmacy market are creating online pharmacy platforms to improve medication management and enhance the customer experience. For instance, in November 2023, Pure Health, a UAE-based healthcare company, launched Dawak, an online digital pharmacy platform. Dawak simplifies the medication ordering and prescription refilling process, offers convenient delivery options, and facilitates easy payment. It organizes medications into date- and time-sealed sachets and includes dosage information to promote medication adherence.
What major market segments define the scope and growth of the digital pharmacy market?
The digital pharmacy market covered in this report is segmented -
1) By Product: Medicines And Treatments, Personal Care Products, Vitamins And Supplements, Other Products
2) By Drug Type: Prescription Medicines, Over-The-Counter (OTC) Products
3) By Business Model: Captive, Franchise, Aggregator
4) By Platform: App-Based, Web-Based
5) By Application: Urban Areas, Rural Areas
Subsegments:
1) By Medicines And Treatments: Prescription Medicines, Over-The-Counter (OTC) Medications, Chronic Disease Medications, Acute Disease Medications, Specialty Medications
2) By Personal Care Products: Skincare Products, Hair Care Products, Oral Care Products, Hygiene And Grooming Products
3) By Vitamins And Supplements: Dietary Supplements, Herbal Supplements, Sports Nutrition Supplements, Weight Management Supplements, Probiotics
4) By Other Products: Medical Devices (Blood Pressure Monitors, Glucose Meters), Health-Related Devices (Thermometers, Pulse Oximeters), First Aid Products, Health Testing Kits (Pregnancy Tests, DNA Tests)
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Which region dominates the digital pharmacy market?
North America was the largest region in the digital pharmacy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital pharmacy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the digital pharmacy industry growth?
Major companies operating in the digital pharmacy market are Walmart Inc. , Amazon.com Inc., MetLife Inc., Omnicell (OMCL) Inc., Hims & Hers Health Inc., Tata 1MG Technologies Pvt Ltd., Ro, Medminder Systems Inc., Thirty Madison Inc., Pharmacy2U Ltd, NimbleRx, PocketPills Pharmacy Inc., Nurx, Medley Pharmacy Ltd., RxSafe LLC, ScriptDrop Inc., mscripts LLC, Blink Health LLC, MedAvail Inc., Truepill, NowRx Inc., Capsule Pharmacy
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What Is Covered In The Digital Pharmacy Global Market Report?
•Market Size Forecast: Examine the digital pharmacy market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the digital pharmacy market for a structured understanding.
•Key Players Overview: Analyze major players in the digital pharmacy market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the digital pharmacy market.
•Segment Contributions: Evaluate how different segments drive overall growth in the digital pharmacy market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the digital pharmacy market.
•Industry Challenges: Identify potential risks and obstacles affecting the digital pharmacy market.
•Competitive Landscape: Review strategic developments in the digital pharmacy market, including expansions, agreements, and new product launches.
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