Online Pharmacy Market 2021

Global online pharmacy (E-Pharma) market is expected to reach US$ 150,891.1 million by 2027, growing at an estimated CAGR of 14.8% over the forecast period as they make the life of patients simpler

Online pharmacies tend to provide services that help patients comply with their drug therapies. Customers can choose to use refill reminders that notify them via e-mail when it is time to refill or renew prescriptions. The provision of e-mail reminders offers a low-cost scalable approach towards addressing the problem of medication non-compliance. This enables the consumers to make informed decisions and save money. Also, the penetration of new entrants has made the overall online pharmacy market fragmented in nature. Major factors driving the growth of online pharmacies includes the convenience and privacy of this new channel. Patients with limited mobility or living far from the pharmacy tend to benefit tremendously from legitimate internet pharmacies. Owing to attractive advertisement campaigns of pharmaceutical companies on television in the press and low cost products, consumers find the aforementioned option to be more beneficial. However, risk associated with counterfeit prescription drugs is expected to critically impact the overall market growth. Technological advancements such as electronic prescription methods coupled with barcode medication identification is expected to propel the global online pharmacy (E-Pharma) market in the future years.


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Major Key Players:

Prominent players operating in the global online pharmacy (E-Pharma) market include Lloyds Pharmacy Limited, The Walgreen Company, CVS Health, OptumRx, The Kroger Co., and Netmeds amongst others

Key Findings of the Report:

Global online pharmacy (E-Pharma) market is expected to reach US$ 150,891.1 million by 2027 owing rising internet accessibility and increasing economic growth

The prescription drugs segments is anticipated to witness considerable growth in the future years owing to increasing demand for e-prescriptions and strict regulatory compliances.

A company named The Swiss Online pharmacy (E-Pharma) is engaged in providing both branded and branded medications, hair loss remedies and weight loss pills. The sale of low cost generic medications has increased the demand for these medications all the more among consumers. Manufacturers that provide generic medication products are Finax, Finast, Fincar amongst others.

The Swiss Online pharmacy (E-Pharma) works directly with manufacturers of pharmaceutical products and is also a wholesaler for hospitals and other online pharmacies.

North America held the largest share in 2018 and is expected to continue the same trend over the forecast period. Rising adoption of online services amongst the regional population has assisted the growth of North America online pharmacy (E-Pharma) market. Established high street pharmacies such as Lloyds have a strong presence online, but consumers are increasingly familiar with companies that operates only online such as PillTime.

Market Segmentation

By Product Category

Prescription Drugs

Over-the-counter Drugs (OTC)

 

By Product Type

Synthetic

Natural

By Product Delivery Mode

In-store

Home Delivery

By Application

Hair

Skin Care

Weight Management

Others (Sexual Health, Allergies Etc.)

By Geography

North America

U.S.

Canada

Mexico

Rest of North America

Europe

France

The UK

Spain

Germany

Italy

Nordic Countries

Denmark

Finland

Iceland

Norway

Sweden

Benelux Union

Belgium

The Netherlands

Luxemburg

Rest of Europe

Asia Pacific

China

Japan

India

New Zealand

Australia

South Korea

Southeast Asia

Indonesia

Thailand

Malaysia

Singapore

Rest of Southeast Asia

Rest of Asia Pacific

Middle East & Africa

Saudi Arabia

UAE

Egypt

Kuwait

South Africa

Rest of Middle East & Africa

Latin America

Brazil

Argentina

Rest of Latin America


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