SAN FRANCISCO, April 09, 2020 (GLOBE NEWSWIRE) -- The report is a great resource, which provides current and upcoming technical and financial details of the industry. While producing this finest Global e-Pharma Market research report, DBMR team focuses on the several key aspects, which are vital for the client to succeed in the industry. For the same, they deal with formalised and managerial approach to know the minds of their target markets, their feelings, their preferences, their attitudes, convictions and value systems. Major insights of the Global e-Pharma Market Report are complete and distinct analysis of the market drivers and restraints, major market players involved like industry, detailed analysis of the market segmentation and competitive analysis of the key players involved.
Market Analysis: Global e-Pharma Market
e-Pharma Market is expected to rise from its initial estimated value of USD 33.71 billion in 2018 to an estimated value of USD 101.69 billion by 2026 registering a CAGR of 14.80% in the forecast period of 2019-2026. This rise in the market can be attributed to the rising geriatric population over the world and demand of medicines in these populations.
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Some of the major players operating in the market are Boehringer Ingelheim International GmbH, AbbVie Inc., Aurobindo Pharma, Pfizer Inc., Walmart Inc., Walgreen Co., Express Scripts Holding Company, The Kroger Co., L Rowland & Co, DocMorris, Giant Eagle, Inc., OptumRx, Inc., CVS Health, Merck & Co., Inc., Thermo Fisher Scientific among others.
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This Global e-Pharma Market report intensely attempts to find out the impact of buyers, substitutes, new entrants, competitors, and suppliers on the market. The report has explained in-depth market insights about market size, latest trends, market threats and key drivers driving the market. This market research report also maintains to secure economies in the distribution of products and find out the best way of approaching the potential. The Global e-Pharma Market study report is evaluated mainly on two segments namely types and applications which cover all the analytical data for current and future markets.
Rapid rise in the consumers shifting towards online sources of product ordering, purchasing is expected to present the players of e-Pharma market with a greater consumer base wanting to shift their purchases for pharmaceuticals and any drugs to online models, rather than staying true to traditional pharmacists. This is due to the fact that e-Pharma will provide wide range of benefits and features, while also providing drugs at a reduced cost.
How will the report help new companies to plan their investments in the e-Pharma market?
- The e-Pharma market research report classifies the competitive spectrum of this industry in elaborate detail.
- The report also mentions about the details such as the overall remuneration, product sales figures, pricing trends, gross margins, etc.
- Information about the sales & distribution area alongside the details of the company, such as company overview, buyer portfolio, product specifications, etc., are provided in the study.
Market Definition: Global e-Pharma Market
E-Pharma market is a way of transaction between pharmaceutical companies and pharmacies. e-Pharma market is one of the recent innovations that has emerged as a most convenient way to order medicines. Broadly, there are 3 types of e-pharma exist in the market which are: Organized e-pharmacy, Non-organized e-pharmacy and illegal international trade through e-pharmacy. E-Pharmacy is beneficial to common people in many ways by providing: Consumer convenience, Consumer access, Consumer education, Data records, Medicine authenticity.
Market Drivers
- Increasing aging population is driving the growth of this market
- Rising prevalence for e- prescriptions is another factor driving the market growth.
Market Restraints
- Rising number of illegal online pharmacies is restraining the growth of this market
- Availability of fake drugs online is another factor restraining the market growth
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Segmentation: Global e-Pharma Market
- By Type
- Pharmacy Benefit Manager
- Legitimate Internet Pharmacy
- Illegal or Unethical Internet Pharmacy
- By Application
- Hospitals
- Personal use
- Government research
Key Developments in the Market:
- In December 2018, Giant Eagle Inc. announced its acquisition with Ricker Oil Company Inc. The main of the acquisition is to expand Giant Eagle’s GetGo and Ricker’s brand in Indiana market and provide customers with fresh products and services.
- In February 2016, Wal-Mart Stores, Inc. announced the agreement McKesson Corporation for the distribution of generic pharmaceuticals. The main aim of the agreement is to expand their business worldwide and McKesson will distribute all the pharmaceuticals by Walmart.
The main factors behind the growth of the market are:
- Increasing aging population: One of the most important factors behind the growth of e-pharmacy is the availability of older population group that have been prescribed a large amount of medicines and drugs by their physicians and therefore require frequent filling of their medicines. This population group also more comfort in various service offerings, and therefore with the availability of e-pharma they can adopt easier ordering of medicines from the comfort of their homes without having to partake any extra efforts to fill their prescriptions
- Rising prevalence for e-prescriptions: Along with the availability of e-pharma services, the availability of physicians shifting towards online models of service delivery has resulted in increasing volume of e-prescriptions being available to the different consumers. This model of service delivery results in higher remuneration for the physicians as they do not have to bear the overhead costs of maintaining a particular healthcare facility. The rising availability of e-prescriptions being prescribed to patients is therefore expected to improve the overall share of the market players providing e-pharma services
The market is segmented on the basis of type as pharmacy benefit manager, legitimate internet pharmacy, illegal or unethical internet pharmacy; application as hospitals, personal use, government research.
Some of the recent market developments are as follows:
- In May 2019, Medlife announced that they had acquired Myra, which will help Medlife expand their services to around twenty cities throughout India and also gain express delivery services. This will increase the overall value and quality of services with Medlife and the recently acquired service operations will be integrated into the business operations over the next six months
- In June 2018, Amazon announced that they had PillPack for approximately USD 1 billion. This acquisition is evident to the presence of strict competition existing in the market with various market players introducing new & innovative services, and also dealing in extension of their servicing capabilities. With the combination of capabilities of Amazon and expertise of PillPack in pharmaceutical market, the consumers and the organizations alike will experience wide-range of benefits
Some of the Major Highlights of TOC covers:
Chapter 1: Methodology & Scope
- Definition and forecast parameters
- Methodology and forecast parameters
- Data Sources
Chapter 2: Executive Summary
- Business trends
- Regional trends
- Product trends
- End-use trends
Chapter 3: E-Pharma Industry Insights
- Industry segmentation
- Industry landscape
- Vendor matrix
- Technological and innovation landscape
Chapter 4: E-Pharma Market, By Region
- Chapter 5: Company Profile
- Business Overview
- Financial Data
- Product Landscape
- Strategic Outlook
- SWOT Analysis
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