What is the Historic and Current Scenario of the Healthcare E-Commerce Market?
The healthcare e-commerce market has seen considerable growth due to a variety of factors.
• In recent times, we've seen a significant acceleration in the size of the healthcare e-commerce market. It is projected to escalate from $427.26 billion in 2024 to $504.89 billion in 2025, boasting a compound annual growth rate (CAGR) of 18.2%.
This notable growth during the historical period can be attributed to several factors such as the evolution of emerging markets, the integration of advanced technology especially due to COVID-19, the swift increase in the ageing population, the surge in digital payments, and the rising level of internet penetration.
How Does the Forecast Look for the Healthcare E-Commerce Market?
The healthcare e-commerce market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations for the healthcare e-commerce market suggest a significant increase in its size over the upcoming years. It's anticipated to ascend to a worth of $1044.38 billion by 2029, with a compound annual growth rate (CAGR) of 19.9%.
This predicted growth in the forthcoming period can be correlated to the increasing incidents of chronic illnesses and the rising consciousness about maintaining a healthy lifestyle. The forecast period is likely to see key trends like the adoption of wearable devices, the use of AR technologies, and the implementation of AI-infused tools to enhance the customer shopping experience. An emphasis on strategic decision-making, investment in acquisitions to bolster market shares, expanding product portfolios, and offering a wider array of delivery models remain pivotal to retain competitiveness in the healthcare e-commerce sector.
What Are the Critical Driver Fuelling the Healthcare E-Commerce Market's Growth?
The anticipated surge in the healthcare e-commerce market in upcoming years is largely influenced by increased consumer expenditures on medical products and a rise in internet use. The rising demand for healthcare goods, fueled by heightened internet penetration, encourages individuals to purchase online, thus intensifying the need for online healthcare offerings. For instance, in September 2024, the Centers for Medicare and Medicaid Services (CMS), a US-based agency within the U.S. Department of Health and Human Services, reported that the spend on prescription medicines jumped 8.4% to $405.9 billion in 2022, a considerable increase from the 6.8% growth seen in 2021. Additionally, in 2022, Medicare's expenditure grew by 5.9% to reach $944.3 billion, contributing to 21% of overall national health expenditures (NHE). Meanwhile, Medicaid spending climbed 9.6% to reach $805.7 billion, accounting for 18% of the total NHE. Such conditions are expected to drive the revenue increase for healthcare e-commerce market over the anticipated period.
How Are The Segments Defined Within The Global Healthcare E-Commerce Market?
The healthcare e-commerce market covered in this report is segmented –
1) By Type: Drug, Medical Devices
2) By Application: Telemedicine, Caregiving Services, Medical Consultation
3) By End User: Hospitals, Clinics, Others
Subsegments:
1) By Drug: Prescription Medications, Over-the-Counter (OTC) Medications, Nutraceuticals And Dietary Supplements, Herbal Medicines
2) By Medical Devices: Diagnostic Equipment, Surgical Instruments, Mobility Aids, Home Healthcare Devices
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How Are New Trends Expected To Influence The Growth Of The Healthcare E-Commerce Market?
Leading firms in the healthcare e-commerce market are prioritising the development of technological advancements like B2B e-commerce healthcare purchasing platforms. These advancements are designed to optimize operational efficiency, simplify supply chain processes, and increase access to crucial medical products. A B2B e-commerce healthcare purchasing platform is a type of online marketplace or digital platform that accommodates business-to-business transactions particularly in the healthcare sector. For example, in June 2024, a healthcare solutions company based in Singapore, Zuellig Pharma, unveiled eZRx+. This tool is a creative B2B e-commerce healthcare purchasing platform aimed at restructuring the acquiring process for pharmacies and clinics throughout Asia. eZRx+ not only provides a thorough digital purchasing journey, but also allows users to order, pay for, and manage returns of prescription medication and medical equipment wherever and whenever. eZRx+ also ensures complete transparency in transactions, aiding in the eradication of manual errors and promising higher transparency in the buying process.
Who Are the Key Players in the Healthcare E-Commerce Market?
Major companies operating in the healthcare e-commerce market include:
• Amazon.com. Inc.
• Alibaba Health Information Technology Limited
• Walgreens Boots Alliance Inc.
• LloydsPharmacy Limited (McKesson Europe)
• JD Health International Inc. (JD.com. Inc)
• CVS Health Corporation
• Shop Apotheke Europe
• Teladoc Health. Inc
• DocMorris N.V.
• 1mg.com
• Healthkart.com
• Netmeds.com
• PharmEasy.com
• Medlife.com
• SastaSundar.com
• Ali Health
• Jianke.com
• 111. Inc
• Babylon Health
• BenevolentAI
• Lantum
• DoctorLink
• Unmind
• Thriva
• Pando Health
• Owkin
• Dental Monitoring
• eCential Robotics
• Enterome
• Hype
• BioSerenity
• Oxford Nanopore Technologies
• Doctolib
• Telehealth app KRY
• Albertsons Companies Inc .
• Optum Rx Inc .
• Rowlands Pharmacy
• Giant eagle Inc .
• Walmart Stores Inc .
• CIGNA (Express Scripts)
• Rite Aid
• Zur Rose Group AG
• PlanetRX.com Inc .
• Familymeds Inc
• Medisave
• The Kroger Co.
• MercadoLibre
• Al-Noor Medical Company
• VPS Healthcare
• Tumbay group
• Al-Zahra Group
• Belhoul Lifecare
• Emirates Healthcare
• Mediclinic Middle East
• Aster DM Healthcare
• Gulf Healthcare International
• Gulf Medical Projects Company
• Zulekha Hospital
• Saudi German Hospital Group
• Aster DM Healthcare
• Vezeeta
• Yodawy Smart Medical Services
• Bypa-ss
• Rology
• Shezlong
• Estshara
• DentaCarts
• Vitls
• Healthforce
• 3X4 Genetics
• RecoMed
• SyncroPhi
• Ingress Healthcare
• VitruvianMD
• Link Health Technology
What Is The Most Dominant Region In The Healthcare E-Commerce Market?
North America was the largest region in the healthcare e-commerce market in 2024. Asia-Pacific was the second largest region in the global healthcare e-commerce market share. The regions covered in the healthcare e-commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
