Pune, India, March 28, 2022 (GLOBE NEWSWIRE) -- The global ePharmacy market size is projected to reach USD 177,794 million by 2026 owing to increased home deliveries as patients need not travel to the pharmacy store. In addition, these e-stores provide medicines at a discounted prices compared to pharmacy stores. Since e deliveries are common in other sectors, many e-commerce giants are also investing in the healthcare sector. For instance, Amazon is set to acquire epharmacy company PillPack for USD 753 million. This information was given by Fortune Business Insights™ in a report, titled, “, 2020-2027.” As per the report, the market stood at USD 49,727.7million in 2018. It is set to exhibit a dramatic growth in CAGR by 17.3% during the forecast period between 2022 to 2026.
Information given in the research report pertains to different technological advancements introduced in recent years, which allows for a meticulous analysis of the industry and offers a more comprehensive understanding to the readers.
Industry Development
January 2019: Swedish Online pharmacy Meds was funded USD 5.5 million to expand its business in Europe.
June 2015: Envision RX Options was acquired by Rite Aid Corp. Envision RX options provide mail-order pharmacy service and prescription medicines.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2019 to 2026 |
| Forecast Period 2021 to 2028 CAGR | 17.3% |
| 2028 Value Projection | USD 177,794 Million |
| Base Year | 2018 |
| Market Size in 2020 | USD 49,727.7 Million |
| Historical Data for | 2015 to 2017 |
| No. of Pages | 100 |
| Segments covered | Product and Geography |
| Growth Drivers | A rising number of internet users and higher dependency on e-commerce goods are anticipated to boost the ePharmacy industry growth in the North America |
| CVS Health Corporation, Doc Morris, and Express Scripts Holding Company dominated the global ePharmacy market in 2018 | |
| The efficiency of ePharmacies in delivering low-cost medical products, and combined with the increasing penetration of e-commerce is driving the global ePharmacy market growth |
Advent of Latest Technologies based on Artificial Technology will Add Impetus to Market
The presence of the high geriatric population and their vulnerability to various diseases have propelled this generation to be reliable on medicines at a regular period. This also increases the dependency on a third person for the purchasing of drugs. The advent of ePharmacy reduces the involvement of third-party for delivering drugs and this is one of the factors responsible for the growth of this market. Besides this, ePharmacy provides medication at a discounted rate than the local retail shops and this is also helping to increase its popularity in the market. Additionally, the rise in penetration of the e-commerce industry is also influencing the positive growth of the market.
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Prescription Medicine Segment to take over in Coming Years on Account of Increasing Awareness among People
Based on product, the market is bifurcated into over-the-counter products and prescription medicine. Among these, the over-the-counter segment dominated the market in 2018 but is likely to be overpowered by the prescription medicine segment in the forecast duration. This is attributed to the increasing awareness about health and the importance of prescribed medication around the world.
Rising Home Care Treatment to Boost North America’s Market
North America is expected to hold a significant share in the market owing to the reliance of the maximum population on online deliveries including several nutritional supplements. Moreover, rising number of patients who prefer home care treatment due to high hospital expenditure is also driving regional growth.
On the other hand, Europe is also rising as online healthcare is regulated by the European Commission which offers people to develop trust in the market. Germany is the fastest-growing regional market in Europe as it has high-speed internet availability and awareness of online over-the-counter benefits. France and Italy have established markets and thus contribute significant shares in the European market.
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Key Players Aim to Broaden Product Portfolios by Increasing Production through Mergers and Acquisitions
The global market houses several companies that are persistently striving to expand their presence and enhance their product portfolios. To do so, they are implementing strategies, such as joint ventures and collaborative production of materials. For example, Temasek Holdings, LGT Group, and the Canadian pension fund CDPQ acquired Medlife in August 2020. US-based private equity firm TPG acquired a minority stake in API Holdings at a valuation of $1.2 billion. Also, South Africa’s Naspers is interested in investing $100 million in the firm at the same valuation. This will intensify completion in key players thus fueling the market growth
The Report Lists the Key Players in this Market:
• DocMorris
• CVS Health Corporation
• Express Script Holding Company
• Walgreen Co.
• Optum Rx, Inc.
• Giant Eagle, Inc.
• Walmart Stores, Inc.
• Rowland Pharmacy
• The Kroger Co.
• Other players
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Start-ups and Funding Overview
- Key Industry Developments - Mergers, Acquisitions, and Partnerships, 2018
- Overview of Regulatory Scenario - Key Countries
- Key Industry Trends
- Overview of e-Commerce Penetration – Key Countries
- Global ePharmacy Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Over-the-Counter Products
- Prescription Medicine
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of World
- North America ePharmacy Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis – By Product
- Over-the-Counter Products
- Prescription Medicine
- Market Analysis – By Country
- U.S.
- Canada
- Europe ePharmacy Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis – By Product
- Over-the-Counter Products
- Prescription Medicine
- Market Analysis – By Country/Sub-region
- U.K.
- Germany
- France
- Spain
- Italy
- Scandinavia
TOC Continued….!!!
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