Dublin, June 30, 2023 (GLOBE NEWSWIRE) -- The "Global E-Pharmacy Market Overview, 2023-28" report has been added to ResearchAndMarkets.com's offering.
The Global E-Pharmacy Market Overview, 2023-28 market is anticipated to cross USD 217.06 Billion market size by 2028, increasing from USD 87.46 Billion in 2022. The market is projected to grow with a 16.71% CAGR by 2023-28.
E-pharmacy platforms are introducing subscription-based models, where customers can sign up for regular medication refills and receive them automatically at predefined intervals. This subscription approach ensures medication adherence, eliminates the need for frequent reordering, and provides convenience for users with chronic conditions. Furthermore, e-pharmacy platforms are investing in same-day or on-demand delivery services to provide faster and more convenient access to medications and healthcare products. They are partnering with logistics providers and employing innovative delivery models like drones and autonomous vehicles to expedite order fulfilment.
Moreover, e-pharmacy platforms are integrating voice-activated assistants and smart devices to enhance the user experience. Users can place medication orders, get dosage instructions, and receive medication reminders through voice commands, leveraging the growing popularity of smart speakers and virtual assistants. In addition, some e-pharmacy platforms are exploring the use of 3D printing technology to produce personalised medications. This allows for precise dosing and formulation tailored to individual patients' needs, improving medication effectiveness and patient outcomes.
The general public's over-reliance on online delivery of consumable goods in North America, including over-the-counter healthcare items like vitamin pills, nutrition supplements, and cosmetics, among others, is anticipated to have a beneficial impact on the ePharmacy market trend. According to estimates, the number of patients choosing home care services and treatments will increase in North America as a result of high hospital healthcare costs. Due to the widespread use of the Internet, the market in North America is also well established and has attracted a sizable demographic base. Additionally, the Food and Drug Administration (FDA) in the United States concentrates on actively educating the populace about the laws and guidelines of ePharmacy and ensuring their awareness of the security of drug purchases made online.
The European Commission has strict regulations that heavily govern the market in Europe, but because of the attractive prices offered by the biggest players in the industry, it is predicted that the global market will rise. In the United States, about 75% of people have internet access, whereas in Germany, 84% of people use it regularly, according to the World Bank. Global demand for ePharmacy is increasing as a result of the big population that depends on the internet for purchasing goods and the tempting pricing offers made by key companies. During the anticipated period, ePharmacy growth is expected to be further boosted by the entry of new companies into the market and increasing worldwide competition.
Prescription drugs have traditionally held a significant share of the e-pharmacy market. They represent a substantial portion of the overall revenue generated by e-pharmacy platforms. Furthermore, e-pharmacy platforms typically have processes in place to verify the authenticity and validity of prescriptions. This may involve validating the prescription with the prescribing healthcare professional or using electronic prescription systems. In addition, the OTC drug segment in the e-pharmacy market has been gaining prominence in recent years. The convenience and accessibility offered by e-pharmacy platforms have contributed to the increasing demand for OTC medications online. OTC drugs are often associated with self-care and wellness. E-pharmacy platforms may offer additional resources, such as educational content, to help users make informed choices about OTC medications and manage their health effectively.
The skin care segment in the e-pharmacy market focuses on products for the treatment of skin diseases and injuries. The skin care segment also includes products for wound care, such as dressings, bandages, antiseptics, and wound healing creams. E-pharmacy platforms offer a selection of wound care products for different types of injuries and wound severities. In addition, e-pharmacy platforms offer a wide range of diabetes medications, including oral hypoglycemic agents and insulin.
Users can conveniently order their prescribed medications online and have them delivered to their doorstep. Furthermore, e-pharmacy platforms may also offer a range of diabetic supplies, including diabetic socks, diabetic footwear, and skin care products specifically formulated for individuals with diabetes. These products cater to the unique needs and challenges faced by people living with diabetes.
Furthermore, the naturopathy segment may include products related to alternative therapies such as homoeopathy, Ayurveda, traditional Chinese medicine, and other holistic approaches to health. E-pharmacy platforms may provide access to a range of products associated with these alternative therapeutic practices.
Considered in this report
- Geography: Global
- Historic year: 2017
- Base year: 2022
- Estimated year: 2023
- Forecast year: 2028
Aspects covered in this report
- Global E-Pharmacy market with its value and forecast along with its segments
- Region-wise E-Pharmacy market analysis
- Various drivers and challenges
- On-going trends and developments
- Top profiled companies
- Strategic recommendation
By Drug Type
- Prescription drug
- Over-the-counter drug
By Product Type Channel
- Skin Care (Skin diseases & skin injuries)
- Allergy & food intolerance, Stomach, Intestines & Digestion
- Diabetes Care
- Heart care, circulation & veins, BP, cholesterol
- Orthopedic (muscles, bones, joints)
- Urology (Bladder, Kidney & Prostate)
- Animal pharmacy
- Naturopathy
- ENT (Eyes, ears, Tooth & Mouth)
- Cold flu
- vitamins & minerals
- Cosmetics
- Painkiller
- Others (gynec, Calm down, sleep & stress, sexuality, Lose weight, Diet & Lifestyle, Self-tests & everyday aids, smoking cessation)
Companies Mentioned:
- Amazon.Com, Inc.
- Walmart Inc.
- Lloyds Pharmacy Limited
- Rite Aid Corporation
- Zur Rose Group
- Apollo Hospitals Enterprise Limited
- Raia Drogasil S.A.
- Walgreens Boots Alliance, Inc.
- McKesson Corporation
- CVS Health Corporation
For more information about this report visit https://www.researchandmarkets.com/r/a5g90s
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