Healthcare E-Commerce Market:
WiseGuyReports.com adds “Global Healthcare E-Commerce Market Research Report 2020 Analysis and Forecast 2026” reports to its database.
Executive Summary
The global healthcare e-commerce market is expected to grow from $181 billion in 2019 to about $311.3 billion in 2020. Due to Covid-19, a significant growth is seen in the demand for medical supplies including surgical masks, gloves, medicines and other products. With people avoiding visiting market places and preferring to stay indoors, the online or e-commerce market for healthcare, especially supplies and medicines, is seeing a significant growth. The market is expected to stabilize and reach $382.8 billion at a CAGR of 20.6% through 2023.
The healthcare e-commerce market consists of sales of healthcare products and their related services. E-commerce is also known as internet commerce or electronic commerce and refers to the sales and purchase of goods and services using the internet. It enables healthcare institutions, 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 & discounts, a wide range of products, replacement & refund policies, reviews & feedbacks, and quality certifications.
Request Free Sample Report @ https://www.wiseguyreports.com/sample-request/5278108-healthcare-e-commerce-global-market-report-2020-30
The global healthcare e-commerce market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. North America was the largest region in the healthcare e-commerce market in 2019.
In June 2018, Amazon.com, Inc., America-based multinational technology company and PillPack announced the acquisition of PillPack for an amount of $ 753.0 Billion. This acquisition is expected to expand Amazon’s business across the USA and improve the consumer experience with the online & timely delivery of medicines. PillPack Inc. was founded in 2013 and is an online pharmacy company based in Manchester, USA. PillPack Inc. delivers medications online in pre-sorted dose packaging across the USA and is committed to the timely delivery of medications.
The healthcare e-commerce market covered in this market is segmented by type into drug; medical devices. It is also segmented by application into telemedicine; caregiving services; medical consultation.
Stringent regulations and cybersecurity laws are expected to limit the growth of healthcare e-commerce market during the period. According to e-retailing laws and regulations in India published in December 2018, e-retailing companies hit hard by the policy for e-commerce in India including the healthcare e-commerce industry. Moreover, healthcare-related e-commerce platforms are mandated to make their cybersecurity infrastructure resilient and robust. The online pharmacies and telemedicine must comply with the techno legal regulations together with making their websites cyber secure. Therefore, stringent regulations imposed by various country governments are likely to restraint the growth of the healthcare e-commerce industry market over the approaching years.
The launch of new healthcare applications for connecting doctors and patients directly is a leading trend driving the healthcare e-commerce market. In December 2019, XcelTech Group, a software and mobile app development company known for delivering excellence in IoT, technology, and engaging mobile applications, announced the launch of a new healthcare platform, MyCare Softech Private Limited, a personalized healthcare assistance app. MyCare apps connect patients to doctors through a secure mobile application. Therefore, the launch of new healthcare applications is likely to shape the growth of the healthcare e-commerce market in the near future.
Increasing consumer spending on medical products coupled with rising internet penetration is to contribute higher demand for the healthcare e-commerce market in the upcoming years. Growing demand for healthcare products and high internet penetration is enabling people to switch to online products, which in turn is creating higher demand for online healthcare products. According to USA Health Affairs’ article published in December 2019, healthcare spending in the USA increased at a rate of 4.6% to $3.6 trillion or $ 11,172 per person in 2018 up from 4.2% in 2017. Moreover, according to WeAreSocial’s Stats published in January 2019, the total internet users across the globe increased by 366 million from January 2018 to 4.39 billion in 2019. This scenario is anticipated to propel the revenues for healthcare e-commerce market over the forecast period.
Major players in the healthcare e-commerce market are Amazon, Exactcare Pharmacy, Flipkart Pvt. Ltd., Alibaba Group Holding Ltd., eBay Inc., Remdi SeniorCare, Lloyds Pharmacy Ltd., McCabes Pharmacy, Walgreens Boots Alliance Inc., and CVS Health.
Continuous…
For further information on this report, visit – https://www.wiseguyreports.com/reports/5278108-healthcare-e-commerce-global-market-report-2020-30
NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
CONTACT US:
NORAH TRENT
Partner Relations & Marketing Manager
Ph: +1-646-845-9349 (US)
Ph: +44 208 133 9349 (UK)