ePharmacy Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2028

According to Vision Research Reports, the global ePharmacy market size surpassed at US$ 56 Bn in 2020 and is expected to grow at a CAGR of 12.8% from 2021 to 2028.

Global ePharmacy market size is projected to surpass around US$ 160 billlion by 2028.

An ePharmacy or internet pharmacy or online pharmacy is a pharmacy which operates through internet and post and send product to patients/customers through shipping or mail. There are many drugs and services can be accessed online via online pharmacies which is also called as cyber pharmacies.

ePharmacies sell variety of products online including OTC drugs which generally don’t need prescription, prescription drugs, health supplements, beauty products, etc.

North America dominated the global ePharmacy market in 2020 and the trend is anticipated to continue during the forecast period. Highly structured health care industry, increasing internet penetration driving the shift toward online purchase of drugs the U.S. are expected to drive the market in North America.

Asia Pacific is likely to be a highly lucrative market for ePharmacy and it is expected to expand at a high CAGR during the forecast period.

Increasing Internet Penetration Driving the Shift toward Online Purchase of Drugs to Drive Market

• The Internet has changed the world significantly in the past 25 years. According to the Internet World Stats, about half a billion new users were connected to Internet in 2014, an increase of more than 20%, bringing the total number of Internet users to over three billion worldwide.
• Globally, North America is leading in terms of Internet penetration with 88% of the population connected to the Internet, followed by Europe with 73.5% penetration. Australia/Oceania is another region with significant Internet penetration.
• The sales channels of almost all industries are going online owing to the shopping convenience it offers to the buyers. Online pharmacies are expected to witness a lucrative growth during the forecast period with the rise of Internet penetration and a growing trend of online shopping. Ease of access to the Internet via smartphones and availability of medicines that are otherwise difficult to find are some of the major driving factors responsible for the growth of the ePharmacy market.
• A lower possibility of getting wrong products and on-time delivery owing to a well-established supply chain are other factors favoring the market growth for ePharmacy over its brick-and-mortar counterparts. Growing work pressure on physical pharmacies is encouraging the shift toward online platforms, thus driving the growth of the global ePharmacy market.

Rising Use of Mobile Apps for Prescription Refill is expected to boost growth of the Market

• Mobile apps are getting popular and becoming part of everyday lives. The use of mobile apps in online pharmacy sector is increasing rapidly, with availability of several Android and iOS apps that enable patients to order prescriptions easily and quickly.
• According to Deloitte survey, 19% of health care providers in the U.S. offer customer’s web-based prescription refill online program. It was also reported that several retail pharmacies have been offering mobile apps for online prescription refill. Large number of companies such as Walgreens and CVS Pharmacy offer mobile apps so as to make prescription refill easy and convenient with round to clock delivery.
• Mobile apps offers prescription QR scanners, photo centers to find out latest deals also offers many options for patients to deal with prescriptions. Few mobile apps feature functions such as minute clinic, pill scanner, pill identifier, and refill prescriptions.
• These mobile apps preserve the prescription history and provide non health services. For instance, CVS Caremark has its iPhone app that provides features of refilling prescriptions through CVS Caremark - pharmacy management managers.

North America to Dominate Global Market

• In terms of region, the global ePharmacy market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global ePharmacy market in 2018, followed by Europe.
• Further, North America is categorized into U.S., and Canada. Europe is categorized into Germany, U.K., Spain, France, Italy, and Rest of Europe. Asia Pacific is categorized into Japan, China, Indian Subcontinent (India, Pakistan, Bangladesh, Sri Lanka), Australasia (Australia, New Zealand, and Guinea), and Rest of Asia Pacific. Latin America is categorized into Brazil and rest of Latin America. Middle East and Africa is categorized into GCC Countries, North Africa, South Africa, and Rest of Middle East and Africa.
• North America accounted for major share of the global ePharmacy market in 2020, owing to adoption of online shopping trend, well-established health care industry, early availability of advanced technologies, and higher penetration of Internet across the country
• Europe is second largest market for ePharmacy followed by North America. Major factors driving the ePharmacies in Europe include increasing penetration of high speed Internet and consumer shift toward online purchase of medicines. Germany leads the ePharmacy market in Europe attributed to the cross border trade which was pioneered by DocMorris. Asia Pacific is projected to display lucrative growth owing to increasing disposable incomes and rising popularity of the e-commerce industry, resulting in growth of ePharmacies.
• The ePharmacy market in Asia Pacific is anticipated to expand at a high CAGR from 2021 to 2028. This can be attributed to rapid economic growth in developing economies such as India, China, Indonesia, Vietnam, South Korea, and the Philippines.

Competitive Landscape

• The global ePharmacy market is fragmented in terms of number of players. Key players in the global market include Walgreens Boots Alliance, Inc., Wal-Mart Stores, Inc., CVS Health, Dr. Fox Pharmacy, DocMorris N.V., Rowlands Pharmacy, PlanetRX.com Inc., Online Drugstore, Well Pharmacy, and Lloyds Pharmacy among others

The global ePharmacy market has been segmented as follows:

By Region

• • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific          
    • Japan
    • China
    • Indian Subcontinent (India, Pakistan, Bangladesh, Sri Lanka)
    • Australasia (Australia, New Zealand, and Guinea)
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC Countries
    • North Africa
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Rest of Latin America

Report Scope

The EPharmacy market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of EPharmacy market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global EPharmacy market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the EPharmacy market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted EPharmacy market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the EPharmacy capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of EPharmacy by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global EPharmacy market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major EPharmacy market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of EPharmacy market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the EPharmacy industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

EPharmacy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to EPharmacy market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of EPharmacy market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new EPharmacy market. These factors have benefited the growth of the global market for EPharmacy. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for EPharmacy. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of EPharmacy are as follows:

• History Year: 2017-2020
• Base Year: 2020
• Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.