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e-Pharmacy Market: Current Analysis and Forecast (2021-2027)

Region:Global

Author(s):

Product Code:UMHE21311

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Published on

July 2021

Total pages

118

Table of Content

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About the Report

About the Report

The e-pharmacy is an online pharmacy, which runs across the internet and delivers medicine to consumers through mail or shipping companies. The e-pharmacy cut off the long chain of suppliers and directly delivers medicine to the end-users at a reduced price. For instance, according to The Hindu in August 2019, the pharmacy chains such as MedPlus encourage online booking by offering discounts. The average discount on prescription drugs when a visit to a physical store is 10% (for purchases of up to USD 13.43). However, if the order is online, the discount consumers get is up to 20% on the maximum price. Further, the growing geriatric population is increasing the chances of chronic diseases and boosting the need for online Pharmacy for the easy delivery of medicines and healthcare devices. According to the United States Department of Economic and Social Affairs, globally there were around 727 million people aged 65 years or more in the world in 2020. And this share of the global population aged 65 years or above is expected to increase from 9.3% in 2020 to 16% by 2050.

Moreover, some factors that will hinder the growth of this market include the increasing fraud activities and strict adherence to regulatory guidelines. Also, the rising security and privacy concern among consumers is estimated to limit the growth of this market during the forecast period.

During the COVID-19 pandemic, the e-Pharmacy market has experienced healthy growth. The lockdown limitations and social distancing have functioned as a driving factor for over the counter and prescription drug purchases over the internet. For instance, on 12 July 2021, the leading pharma companies such as Sun Pharma, Lupin, Cadila Healthcare, Torrent Pharma, Dr. Reddy's Labs, and Cipla have come together to invest in a healthcare services firm ABCD Technologies (to be renamed as IndoHealth Services) with an objective of digitalizing healthcare infrastructure in India. Also, according to a report of global professional services firm EY shows that India's potential in the e-pharmacies market will rise to USD 18.1 billion by 2023 compared to USD 9.3 billion in 2019. And as per Adobe's analysis, there has been a 200% increase in Google Search volumes for COVID-19 related health products. The increasing use of the internet and e-commerce podiums will upsurge the growth of e-pharmacy during the forecast period.

Based on drug type, the market is bifurcated into over the counter (OTC) drugs, prescribed drugs, and others. The over the counter (OTC) drugs segment grabbed the major market in 2020 as OTC refers to a class of medication that can be sold without the need for a prescription and anyone can easily buy medicines with just a click. Moreover, the total sales value of over the counter (OTC) drugs in Great Britain amounted to 3.65 billion USD in 2020.

Based on product type, the market is bifurcated into hair care, skin care, dental, cold and flu, weight management, vitamins & supplements, toiletries, electrical medical devices, pet medicines, and others. The skin care segment ruled the major market and accounted for the maximum share in 2020. The rising awareness about the various benefits of using skin care products has resulted in rising demand over the last few years. This has also boosted the demand for natural and organic skincare products, making it a major segment in this market.

Based on platform, the market is bifurcated into business-to-business (B2B) and business-to-consumer (B2C). The business-to-consumer (B2C) segment grabbed the major market in 2020 and accounted for the maximum revenue during the forecast period. The e-pharmacies works on the collaboration with key companies and provide survives direct to consumers and that is why providing medicines at lesser prices which is the major factor driving the growth of this segment.

For a better understanding of the market adoption of the e-Pharmacy market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), GCC (Saudi Arabia, UAE, Kuwait, Bahrain, Qatar, Oman) and Rest of World. North America constitutes a major market for e-Pharmacy and generated maximum revenue in 2020 owing to the high government funding, robust personal healthcare spending, developed awareness programs, rapid acceptance of new analytical techniques, and the presence of skilled workforces.

Products


Companies

CVS Health Corporation, DocMorris NV, Express Scripts Holding Company, Walgreen Co., The Kroger Co., Rowlands Pharmacy (Phoenix Group), Giant Eagle, Inc., Walmart Inc., OptumRx, Inc., Lloyds Pharmacy Limited

Table of Contents

Table of Contents

1 MARKET INTRODUCTION

1.1 Market Definitions

1.2 Objective of the Study

1.3 Limitation

1.4 Stake Holders

1.5 Currency Used in Report

1.6 Scope of the Global e-Pharmacy Market Study

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1 Research Methodology for the Global e-Pharmacy Market

2.1.1 Main Objective of the Global e-Pharmacy Market

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 TOP START-UPs UNDER e-PHARMACY INDUSTRY

6 COVID-19 IMPACT

7 GLOBAL e-PHARMACY MARKET REVENUE

8 MARKET INSIGHTS BY DRUG TYPE

8.1 Over the counter (OTC) Drugs

8.2 Prescribed Drugs

8.3 Others

9 MARKET INSIGHTS BY PRODUCT TYPE

9.1 Hair Care

9.2 Skin Care

9.3 Dental

9.4 Cold and Flu

9.5 Weight Management

9.6 Vitamins & Supplements

9.7 Toiletries

9.8 Electrical Medical Devices

9.9 Pet Medicines

9.10 Others

10 MARKET INSIGHTS BY PLATFORM

10.1 Business-to-Business (B2B)

10.2 Business-to-Consumer (B2C)

11 MARKET INSIGHTS BY REGION

11.1 NORTH AMERICA e-PHARMACY MARKET

11.1.1 United States

11.1.2 Canada

11.1.3 Rest of North America

11.2 EUROPE e-PHARMACY MARKET

11.2.1 Germany

11.2.2 France

11.2.3 United Kingdom

11.2.4 Spain

11.2.5 Italy

11.2.6 Rest of Europe

11.3 ASIA PACIFIC e-PHARMACY MARKET

11.3.1 China

11.3.2 Japan

11.3.3 India

11.3.4 Australia

11.3.5 South Korea

11.3.6 Rest of Asia Pacific

11.4 GCC e-PHARMACY MARKET

11.4.1 Saudi Arabia

11.4.2 UAE

11.4.3 Kuwait

11.4.4 Bahrain

11.4.5 Qatar

11.4.6 Oman

11.5 REST OF THE WORLD e-PHARMACY MARKET

12 e-PHARMACY MARKET DYNAMICS

12.1 Market Drivers

12.2 Market Challenges

12.3 Impact Analysis

13 LEGAL & REGULATORY FRAMEWORK

14 DEMAND AND SUPPLY SIDE ANALYSIS

14.1 Demand Side Analysis

14.2 Supply Side Analysis

14.2.1 Top Product Launches

14.2.2 Top Business Partnerships

14.2.3 Top Merger & Acquisitions

15 VALUE CHAIN ANALYSIS

16 e-PHARMACY MARKET OPPORTUNITIES

17 e-PHARMACY MARKET TRENDS & INSIGHTS

18 COMPETITIVE SCENARIO

18.1 Porter's Five forces analysis

18.1.1 Bargaining power of Supplier

18.1.2 Bargaining power of Buyer

18.1.3 Industry Rivalry

18.1.4 Availability of Substitute

18.1.5 Threat of new Entrants

19 COMPANY PROFILED

19.1 CVS Health Corporation

19.1.1 Key Facts

19.1.2 Business Description

19.1.3 Key Product/Services Offerings

19.1.4 Growth Strategy

19.1.5 SWOT Analysis

19.1.6 Key Financials

19.1.6.1 Revenue Split

19.1.6.2 Financial Overview of CVS Health Corporation

19.1.7 Recent Developments

19.1.7.1 Product Launch

19.1.7.2 Partnerships

19.1.7.3 Business Expansion and Investments

19.1.7.4 Merger and Acquisition

19.2 Becton, Dickinson and Company

19.3 Danaher Corporation

19.4 General Electric Company

19.5 Bio-Rad Laboratories

19.6 NanoString Technologies

19.7 10x Genomics

19.8 Luminex Corporation

19.9 Menarini Silicon Biosystems

19.10 QIAGEN

20 DISCLAIMER

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