What Has Driven the Growth of the E-Pharmacy Market in Recent Years?
The e-pharmacy market has seen considerable growth due to a variety of factors.
• The electronic pharmacy industry has seen a significant expansion in its market size in the past few years. It is projected to rise from $109.25 billion in 2024 to $131.64 billion in 2025, achieving a compound annual growth rate (CAGR) of 20.5%.
The growth witnessed in the past was largely influenced by factors such as increased internet access and e-commerce development, a rise in chronic disease occurrences, an aging populace with its healthcare requirements, legal approval for e-pharmacies, and consumer benefits in terms of convenience and time saved.
What is the Market Size Forecast for the E-Pharmacy Market?
The e-pharmacy market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for the e-pharmacy market size, which is projected to experience exponential growth in the coming years. The market is forecasted to amount to $303.34 billion in 2029, with a compound annual growth rate (CAGR) of 23.2%.
Factors contributing to this growth during the forecast period include the growing adoption of telemedicine, a heightened emphasis on healthcare accessibility in rural and remote areas, the evolution of online prescription services, the broadening of e-commerce frameworks, and the extension of e-pharmacy services in rural locations. Notable trends for the forecast period encompass the unification of virtual health consultations, the development of prescription delivery services, bespoke medication management apps, utilisation of blockchain technology for supply chain clarity, and the initiation of cross-border e-pharmacy operations.
Which Factors Are Boosting Growth In The E-Pharmacy Market?
The rapid expansion of digital health is set to drive the upswing of the e-pharmacy market in the future. E-pharmacy services and digital health technologies are leveraging computer platforms, software, sensors, and networks for health-related applications encompassing mobile health (mHealth), health IT, wearables, telehealth, telemedicine, and customized medication. These technologies offer a wide range of uses, from overall wellbeing to medical equipment. For instance, as per the Australian Digital Health Agency 2022, a government agency based in Australia, 118.2 million telehealth services were offered to 18 million patients between 13 March 2020 and 31 July 2022. Moreover, over 95,000 practitioners availed telehealth services in 2022. Hence, the surge in digital health is propelling the E-Pharmacy market growth.
What Key Areas Define The Segmentation Of The Global E-Pharmacy Market?
The e-pharmacy market covered in this report is segmented –
1) By Drug Type: Prescription Drugs, Over-The-Counter (OTC) Drugs
2) By Product Type: Skin Care, Dental, Cold And Flu, Vitamins, Weight Loss, Other Product Types
3) By Payment Method: Cash on Delivery, Online Payment
4) By Platform: App-Based, Web-Based
Subsegments:
1) By Prescription Drugs: Chronic Disease Medications, Acute Disease Medications, Specialty Drugs, Controlled Substances
2) By Over-The-Counter (OTC) Drugs: Pain Relievers, Cold And Allergy Medications, Digestive Health Products, Vitamins And Supplements
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How Are Emerging Trends Reshaping The Dynamics Of The E-Pharmacy Market?
Major firms in the E-Pharmacy sector are utilizing digital technology to improve patient access to medications, by providing services such as home delivery, telehealth consultations, and tailored medication management to boost healthcare ease and adherence. Eli Lilly has created a distinctive digital health platform, LillyDirect, that provides personalized disease management resources, telehealth services, and direct home delivery of medications. This platform is particularly aimed at simplifying healthcare accessibility for patients suffering from chronic disorders like obesity, migraine, and diabetes. For instance, in January 2024, US-based pharmaceutical firm, Eli Lilly and Company, introduced LillyDirect, a novel digital healthcare initiative for American patients dealing with obesity, migraine, and diabetes. LillyDirect incorporates a feature known as LillyDirect Pharmacy Solutions, enabling patients to purchase specific Lilly medications online. These prescriptions are directly shipped to their residences through associated online pharmacy delivery services, thereby increasing user convenience.
Who Are the Key Players in the E-Pharmacy Market?
Major companies operating in the e-pharmacy market include:
• Walgreen Company
• Express Scripts Holding Company
• CVS Health Corporation
• DocMorris N. V
• OptumRx Holdings LLC
• PharmEasy
• Tata 1mg
• Netmeds
• Amazon Inc.
• Apollo Pharmacy Ltd.
• Rowlands Phamacy
• The Kroger Co.
• Wal-Mart Stores Inc.
• Medlife International Private Limited
• MedPlus Health Services Private Limited
• Medikabazaar Private Limited
• MedPlusMart Private Limited
• MedsIndia Limited
• MedsOnCall Healthcare Private Limited
• MedsSure Healthcare Private Limited
• MedsDelight Healthcare Private Limited
• MedsBazaar Healthcare Private Limited
What Is The Most Dominant Region In The E-Pharmacy Market?
North America was the largest region in the e-pharmacy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the e-pharmacy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
