ePharmacy Market Overview
d the internet facilitate the healthcare sector to deploy technologically advanced healthcare solutions including ePharmacy. Ease of use is another important market driving factor as it is easy for patients to order medicine online. High demand for online availability of medicines and medical devices is also enhancing the market growth. Other factors driving the ePharmacy market growth include the growth of e-commerce, the difficulty faced by offline retail providers to meet the skyrocketing requirements in remote areas, surging demand for healthcare services, rise in geriatric population, and increasing prevalence of chronic ailments. However, some factors that can hurt the market growth include low penetration of advanced technology in underdeveloped regions and limited availability of the internet
Market Research Future (MRFR) in their recently published report predicted a multifold growth for the ePharmacy market during the forecast period (2018-2023). By 2023, the ePharmacy market can achieve remarkable valuation. ePharmacy Market is growing with the rapidly evolving ecommerce sector. It is experiencing the boons of both revolutionary changes taking place in logistics and better networking. The internet has now evolved as a big marketplace where ordering a medicine with a slight waiting time is gaining more prominence than the archaic methods of getting to the store for the prescribed ones. MRFR in their report included the segmental analysis and factors that can drive the market ahead in the coming days. The detailed study of the market competitors who can help in the market expansion with their strategic moves is expected to provide valuable inputs as well.
Increasing penetration of the internet, e-commerce, and a proliferated adoption of smartphones have enabled the healthcare sector to deploy technologically advanced solutions such as ePharmacy. The global ePharmacy market is anticipated to expand at a lucrative CAGR over the forecast period. Growing demand for healthcare services and problems faced by offline retailers to demographically meet the fast-paced growth in the demand has contributed significantly to the ascension of the global ePharmacy market. Increasing prevalence of chronic diseases, rise in the popularity of e-commerce platforms, and burgeoning geriatric population are contributing heavily to the upscaling of the global ePharmacy market over the assessment period. A rise in the cost of treatments and visits for pharmaceuticals has fueled a rising inclination towards online pharmacies as they offer cost-effective medicines, and the consumer can also avail discounts.
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ePharmacy Market Regional Analysis
Geographically, the epharmacy direct span across regions namely, Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.
the European and North American regions are considered significant regions with the presence of well-developed healthcare infrastructure coupled with strong network speed which highly support the growth of the market in these regions. Moreover, North America has a high concentration of prominent market players which is further contributing to the growth of the market. Meanwhile, Europe comprises highly supportive healthcare policies in order to improve the healthcare infrastructure, thereby influencing the market to a large extent. Both of the regions have a high concentration of geriatric population which is further leveraging the availability of affordable and convenient pharmaceuticals for healthcare needs.
On the other hand, Latin America and the Asia Pacific are predicted to emerge at a rapid pace. The Asia Pacific region is undergoing massive economic changes and is thus attracting international players owing to its high potential. Emerging nations such as China and India are further contributing to the growth of the market. Moreover, with the increased proliferation of smartphones in rural and urban areas and high-speed internet connectivity, the market for ePharmacy is predicted to flourish.
ePharmacy Market Players
3M,B. Braun Melsungen AG,Baxter International INC,Smith & Nephew Plc,Cardinal Health,Coloplast Corp.,ConvaTec Group Plc,Integra Lifesciences Holdings Corporation,Mölnlycke Health Care AB,Avery Dennison Corporation
ePharmacy Market Segmentation
The global ePharmacy market has been segmented on the basis of product type and drug type.
By mode of drug type, the global ePharmacy market has been segmented into over the counter (OTC) drugs and prescription drugs. For ordering prescription drugs, consumers have to upload prescriptions online. Among these, the over the counter (OTC) segment occupies a maximum share owing to the rising prevalence of chronic diseases resulting in the increased demand for healthcare products and drugs.
By mode of product type, the global ePharmacy market has been segmented into skin care, dental vitamins, weight loss, cold and flu, and others.
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Transparency Market Research (TMR) has published a new report titled, ‘ePharmacy Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’.
According to the report, the global ePharmacy market was valued at US$ 55.7 Bn in 2018 and is projected to expand at a CAGR of 12.3% from 2019 to 2027.Request Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=397OverviewAn ePharmacy or internet pharmacy or online pharmacy is a pharmacy which operates through internet and post and send product to patients/customers through shipping or mail.
There are many drugs and services can be accessed online via online pharmacies which is also called as cyber pharmacies.ePharmacies sell variety of products online including OTC drugs which generally don’t need prescription, prescription drugs, health supplements, beauty products, etc.North America dominated the global ePharmacy market in 2018 and the trend is anticipated to continue during the forecast period.
Ease of access to the Internet via smartphones and availability of medicines that are otherwise difficult to find are some of the major driving factors responsible for the growth of the ePharmacy market.A lower possibility of getting wrong products and on-time delivery owing to a well-established supply chain are other factors favoring the market growth for ePharmacy over its brick-and-mortar counterparts.
The use of mobile apps in online pharmacy sector is increasing rapidly, with availability of several Android and iOS apps that enable patients to order prescriptions easily and quickly.According to Deloitte survey,19% of health care providers in the U.S. offer customer’s web-based prescription refill online program.
Large number of companies such as Walgreens and CVS Pharmacy offer mobile apps so as to make prescription refill easy and convenient with round to clock delivery.Mobile apps offers prescription QR scanners, photo centers to find out latest deals also offers many options for patients to deal with prescriptions.
The scope of the global ePharmacy Market was appreciated at US$ 33.03 billion in 2016.
The range is projected to touch US$ 109.2 billion by 2025, growing at a CAGR of 14.8% for the duration of the forecast.This is attributed to the upsurge in pharmaceutical products’ sale through electronic media.
Besides, rise in geriatric population calls for availability of medicines at the doorstep.
This is another factor bolstering the e-Pharma market.Download Sample Report @ https://www.millioninsights.com/industry-reports/epharmacy-market/request-sampleThe ePharmacy market is segmented based on mode and geography.
By geography, the segmentation goes like North America (U.S., Mexico, and Canada), Europe (France, UK, Italy, Russia, Germany, and the rest of Europe), LATAM (Columbia, Argentina, Brazil, and the rest of LATAM), Asia Pacific (Japan, China, South Korea, Southeast Asia, India, and the rest of Asia Pacific), and MEA (Nigeria, Egypt, UAE, Saudi Arabia, and rest of MEA).
North America leads the market; thanks to immediate adoption of advanced technology coupled with extensive spending on healthcare.
Global ePharmacy Market: Information by Drug Type (Prescription Drugs and Over the Counter (OTC) Drugs), Operating platform (App and Website), Business model (Marketplace, Pharmacy and Direct) and Region (Americas, Europe, Asia-Pacific and Rest of the World) - Forecast till 2027Market HighlightsGlobal ePharmacy Market is expected to register a CAGR of 12.5% during the forecast period and expected to hit USD 164,829.5 Million by 2027.One of the progressive technology models, which have evolved in the last few years, is telemedicine that has enabled access to the finest doctors at the tap of a button.
The ePharmacy cuts down the long chain of distributors and directly provides medicine to the end user at a lesser price.
E-pharmacy is an online pharmacy, which operates over the internet and provides medicines to consumers through mail or shipping companies.Factors such as the rise in popularity of e-commerce platforms, increasing investments in ePharmacy start-ups and rising adoption of digital technologies in the healthcare sector are, are driving the growth of the ePharmacy market.
Additionally, the key players adopting the strategy of bringing in acquisition for expanded geographical reach as well as optimization of operational costs are also driving the growth of the ePharmacy market.
Avail a Free Sample@ https://www.marketresearchfuture.com/sample_request/6615Segment AnalysisGlobal ePharmacy Market has been divided based on drug Type, Operating Platform, and Business Model.The market, based on drug type, has been segregated into prescription drugs and over the counter (OTC) drugs.Based on operating platform, the ePharmacy market has been divided into app and websites.On the basis of business model, the ePharmacy market is segregated into the marketplace, pharmacy, and direct.Regional AnalysisThe global ePharmacy market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East and Africa.
According to a 2019 survey, 19% of health care providers in the U.S. offer a customer’s web-based prescription refill online program.
The scope of the global ePharmacy Market was appreciated at US$ 33.03 billion in 2016.
The range is projected to touch US$ 109.2 billion by 2025, growing at a CAGR of 14.8% for the duration of the forecast.
Besides, rise in geriatric population calls for availability of medicines at the doorstep.
Request a Sample PDF Copy of This Report @ https://www.millioninsights.com/industry-reports/epharmacy-market/request-sample Market Synopsis of EPharmacy Market: The ePharmacy market is segmented based on mode and geography.
By geography, the segmentation goes like North America (U.S., Mexico, and Canada), Europe (France, UK, Italy, Russia, Germany, and the rest of Europe), LATAM (Columbia, Argentina, Brazil, and the rest of LATAM), Asia Pacific (Japan, China, South Korea, Southeast Asia, India, and the rest of Asia Pacific), and MEA (Nigeria, Egypt, UAE, Saudi Arabia, and rest of MEA).
North America leads the market; thanks to immediate adoption of advanced technology coupled with extensive spending on healthcare.
