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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