Fort Collins, Colorado, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The Healthcare E-Commerce Market was valued at USD 327.8 Billion in 2022 and is anticipated to reach USD 1,440.9 Billion by 2032 at a CAGR of 16.1%.
The healthcare e-commerce market is poised for growth in the upcoming years, driven by increased consumer spending on medical products and internet penetration. The proliferation of online healthcare products, coupled with the high demand for these products, is expected to fuel the growth of the online healthcare market. Electronic commerce, which involves buying and selling goods, services, and information over the Internet, is expected to expand globally, supported by advancements in e-commerce technology and online pharmaceutical sales.
The increasing consumer demand for convenience drives the healthcare e-commerce market. With the rise of digital platforms, people seek effortless access to healthcare products and services from the comfort of their homes. E-commerce websites provide a user-friendly interface, making it easy for customers to browse, compare, and purchase medical items without hassle.
Telehealth services have led to the growth of healthcare e-commerce. As virtual healthcare becomes popular, there is a surge in demand for online prescription services, medical consultations, and pharmaceutical delivery. The healthcare e-commerce market has expanded beyond traditional pharmaceuticals to include health and wellness products. The comprehensive product offerings cater to a diverse customer base, driving the market's growth.
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Segmentation Overview:
The global healthcare e-commerce market has been segmented into type, application, and region. The demand for prescription medications is expected to increase due to patient demand, internet accessibility, and government initiatives. Online pharmacies are expected to majorly meet this demand, with doorstep deliveries becoming increasingly prevalent. Integrating telemedicine, digital health data, and e-prescribing on healthcare e-commerce platforms to increase pharmaceutical market share likely.
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Healthcare E-Commerce Market Report Highlights:
- The global healthcare e-commerce market growth is anticipated at a CAGR of 16.1% by 2032.
- The healthcare e-commerce market is expected to grow due to the increasing demand for online healthcare products. The convenience of buying medical items from home through user-friendly e-commerce websites is driving this growth. Telehealth services have also contributed to expanding the healthcare e-commerce market, with a surge in demand for virtual medical consultations, prescription services, and pharmaceutical delivery. The market has now broadened to include health and wellness products, catering to a diverse customer base.
- North America is a major player in healthcare e-commerce, with a strong digital infrastructure, high internet usage, and a tech-savvy population. Online healthcare platforms for prescription refills, appointment scheduling, and purchasing over-the-counter medications are widely adopted. Regulatory frameworks like HIPAA in the US prioritize data security and patient privacy, impacting market dynamics.
- Some prominent players in the healthcare e-commerce market report include Amazon, Exactcare Pharmacy, Flipkart Pvt. Ltd., Alibaba Group Holding Ltd., eBay Inc., Remdi SeniorCare, Lloyds Pharmacy Ltd., McCabes Pharmacy, GE Healthcare, Siemens Healthcare, Cerner Corporation, and CVS Health.
Industry Trends and Insights:
- ExactCare, a provider of medication management and comprehensive long-term pharmacy services, has completed its acquisition of Tabula Rasa HealthCare. Tabula Rasa HealthCare is a leading healthcare company focusing on personalized, comprehensive care for value-based organizations.
- Clarest Health has acquired Remedi SeniorCare, a long-term and post-acute care pharmacy service provider, to lead the post-acute care market. The U.S. market for pharmacy care for the post-acute patient population is valued at $5.7 billion, and the U.S. Rx fill market for medically complex patients is valued at $115 billion.
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Healthcare E-Commerce Market Segmentation:
By Type: Drugs & Medical devices
By Application: Telemedicine, Caregiving services, and Medical Consultation
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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