About E-pharmacy
E-Pharmacy operates over the internet pharmacy that offers medical care providers the ability to prescribe medications for patients online. These medications can then be delivered to patients without ever requiring them to leave the confines of their homes. The global e-Pharmacy market is led by North America and Europe and is at its nascent stage in India, but like other categories, it has the potential to be a very huge industry segment in the near future. E-Pharmacy ensures efficacy, transparency, and reliability in delivering the items.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 17.0% |
Competition among existing players is due to the E-pharmacy market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for E-pharmacy Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global E-pharmacy market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
CVS Health Corporation (United States), Doc Morris (Ireland), Express Scripts Holding Company (United States), Walgreen Co. (United States), Optum Rx, Inc. (United States), Giant Eagle Inc. (United States), Rowland Pharmacy (United Kingdom) and The Korger Co (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Wal-Mart Stores, Aurobindo Pharma and Others.
Segmentation Overview
AMA Research has segmented the market of Global E-pharmacy market by Type (Prescription Drugs and Over-the-counter (OTC) Drugs), Application (Skin Care, Dental, Vitamins, Weight Loss and Others) and Region.
On the basis of geography, the market of E-pharmacy has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Model Used, the sub-segment i.e. Inventory-Based will boost the E-pharmacy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Platform, the sub-segment i.e. App will boost the E-pharmacy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The growth of the Internet has given rise to various technology-driven models, to access and serve consumers in a fast-paced and most efficient way. One of the progressive technology models that have evolved in the last few years is telemedicine and E-Pharmacy which is likely to bridge the gap by providing easy and affordable access to medicines to the consumer at their doorstep at a mere finger click.
Market Growth Drivers:
Rising Penetration of E-Commerce and Growing Investments by Private Companies in E-Pharmacy
Challenges:
Lack of Adoption in Underdeveloped Countries
Restraints:
Strict Government Regulation on Selling of Prescription Drugs Online
Opportunities:
Rising Adoption of IoT in the Healthcare Sector and Growing Adoption of Online Services in Developed and Developing Countries
Market Leaders and their expansionary development strategies
In December 2019, Kroger and Walgreens form group purchasing organization as companies expand collaboration with new joint venture. The new joint venture will be called Retail Procurement Alliance. Through this unique joint venture, Walgreens and Kroger have the opportunity to use collective resources to create efficiencies across supply chains.
In November 2023, Express Scripts, announced the launch of its new pharmacy network option, ClearNetwork, which operates under a cost-plus model. In this approach, clients pay a "straightforward" acquisition cost for individual drugs as well as a small markup that covers dispensing and service costs.
India - Licensing: Online pharmacies have to register with the Central Licensing Authority (CLA) to operate, without which, no person or company can distribute, sell, stock, or exhibit drugs through e-pharmacy portals. E-pharmacies have to pay a fee a sum of amount to register for a three-year license. and Advertising: No e-pharmacy shall advertise any drug on radio or television or the internet or print or any other media for any purpose.
Key Target Audience
Servicer Providers of E-Pharmacy, Software Providers of E-Pharmacy, Network Providers, Healthcare Industry, Pharmaceutical Industry, Regulatory Bodies and Governmental Bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.