ePharmacy - Market Scope
E pharmacy enables the patients purchase the required pharmaceutical products across the globe with the help online portals. Increasing digitalization across the globe as well as safe and favorable government regulations will lead to boost the E pharmacy or Online Pharmacy Market. Consumers only have to place the orders according to their requirement by online website or mobile application, and the E-pharmacy companies distribute their products at the consumer’s places. E-pharmacy is also referred to as Mail-Order pharmacy and Internet Pharmacy or Online Pharmacy.
According to AMA, the Global ePharmacy - market is expected to see growth rate of 15.8% and may see market size of USD115.6 Billion by 2027.
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global ePharmacy - market throughout the predicted period.
The Kroger Co. (United States), Walgreen Co. (United States), Walmart Stores, Inc. (United States), CVS Health (United States), Express Scripts Holding Company (United States), Giant Eagle, Inc. (United States), DocMorris (Zur Rose Group) (Switzerland), Rowlands Pharmacy (United States), OptumRx Inc. (United States) and MediSave (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are eDrugstore.MD (United States), The SANICARE Group (Sweden), CanDrugstore.com (Canada), Domzdrowia.pl SA (Poland) and CanadaDrugs.com (Canada).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global ePharmacy - market by Type (Skin Care, Dental, Cold and Flu, Vitamins, Weight Loss and Others) and Region with country level break-up.
On the basis of geography, the market of ePharmacy - 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).
Market Leaders and their expansionary development strategies
On October 2nd, 2018, The Kroger Co. and Walgreens has announced that these companies are collaborating on an exploratory pilot with a new format and concept that combines Kroger’s role as America’s grocer and food authority with Walgreens global expertise in pharmacy, health and beauty.
According to United States Food and Drug Administration Cybercrime Investigation Unit, “Individuals who traffic in counterfeit drugs or controlled substances and dispense prescription drugs without a valid prescriptions or otherwise receives and distributes adulterated as well as misbranded drugs are subject to number of penalties under the Federal Law. For Instance; recently in 2018, some Canadian online pharmacy company was importing some illegal cancer drugs which was not being approved by government bod
Market Trend
- Gaining Popularity owing to Price Discounts
- Improved Customer-Pharmacist Interaction
Market Drivers
- Increasing Prevalence of Numerous Diseases across the Globe
- Constantly Increasing Demand in Emerging Economies
- Growing Geriatric Population
Opportunities
- Enhanced Healthcare Infrastructure
- Introduction to E-Prescriptions
- Globally Increasing Demand for E medicinal Products
Restraints
- Rising Instances of Illegal Online Pharmacies
- Hidden Dues Added to Drug Prices
Challenges
- Stringent Government Regulations
- Privacy related to Personal and Financial Information
Key Target Audience
E-pharmacist, Pharma Industry, Healthcare Industry, Government Agencies, Research and Development Organizations and Others