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Global ePharmacy Market to Touch USD 177,794.9 Million by 2026; Growth Opportunities Witnessed Around the World to Support Expansion: Fortune Business Insights™

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Pune, India, Dec. 07, 2020 (GLOBE NEWSWIRE) — Fortune Business Insights™ states that the global ePharmacy market size is projected to reach USD 177,794.9 Million by 2026, thereby exhibiting an impressive CAGR of 17.3% during the forecast period (2019-2026). The company further states that the global market was valued at USD 49,727.7 Million in 2018.Key Industry Developments:In March 2019, 1mg, an Indian online pharmacy garnered LegitScript certification from the National Association of Boards of Pharmacy (NABP), USA making it the first company in India to earn the said certification. The certification will increase the trust of the customers in the company products.In November 2016, Netmeds Marketplace Limited announced the acquisition of hyperlocal drugs delivery app named Pluss for an undisclosed amount. This acquisition will enable the company to focus on enhancing the company’s online app.In January 2019, Swedish online pharmacy company Meds, bagged a US$ 5.5 Mn funding to expand its business across Europe. This funding is estimated to increase the focus of the company in expanding its reach in other European countries.In June 2015, Rite Aid Corp acquired Envision Rx Options that provides mail-order pharmacy services including prescription medicines. This acquisition facilitated Rite Aid Corp to enter into the field of ePharmacy.
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A large patient pool globally prefers doorstep delivery of healthcare products owing to unavailability of certain medicines in retail pharmacy stores. Additionally, ePharmacies lower the dependency of chronically ill patients and elderly citizens towards third person for procurement of medicines and healthcare supplies. Additionally, the increasing penetration and literacy regarding internet resources are projected to boost the market sales.Increasing Adoption of E-commerce Websites to Favor Growth in Asia PacificGeographically, the global ePharmacy market is grouped into Asia Pacific, North America, the Middle East and Africa, Europe, and Latin America. Out of these regions, North America is expected to remain in the leading position in the global ePharmacy market during the forecast period. The growth is attributed to the rapid shift of consumers towards online retailers from offline pharmacies.Europe and Asia Pacific, on the other hand, are projected to exhibit significantly high CAGR during the forecast period. In Europe, numerous prominent market players have begun offering products at lucrative rates. This will positively impact growth of ePharmacy market in this region. Asia Pacific, on the other hand, has been witnessing higher adoption of e-commerce websites and increasing patient pool.
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The market is a semi-consolidated market with the top five players accounting for a significant share of the market in 2018. A deep-rooted product presence in the ePharmacy, along with a strong distribution channel, has been contributory to the dominance of these players in the market. Additionally, the established market presence and trust of the consumers have facilitated the dominance of the top market players in ePharmacy.
List of the prominent market players in the global ePharmacy market:DocMorrisCVS Health CorporationExpress Script Holding CompanyWalgreen Co.Optum Rx, Inc.Giant Eagle, Inc.Walmart Stores, Inc.Rowland PharmacyThe Kroger Co.Other players
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Global ePharmacy Market Segmentation:By Product           •              Over-the-Counter Products•              Prescription MedicineBy Geography      •              North America (USA and Canada)•              Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)•              Asia Pacific (Japan, China, India, Australia, Rest of Asia Pacific)•              Rest of the World
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Table of Contents:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsKey Start-ups and Funding OverviewKey Industry Developments – Mergers, Acquisitions, and Partnerships, 2018Overview of Regulatory Scenario – Key CountriesKey Industry TrendsOverview of e-Commerce Penetration – Key CountriesGlobal ePharmacy Market Analysis, Insights and Forecast, 2015-2026Key Findings / SummaryMarket Analysis, Insights and Forecast – By ProductOver-the-Counter ProductsPrescription MedicineMarket Analysis, Insights and Forecast – By RegionNorth AmericaEuropeAsia PacificRest of World
TOC Continued….!
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companiesDetails in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facilityNumber of procedures and average price of proceduresReplacement rate and pricing of capital equipmentMarket dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunitiesMarket & technological trends, new product developments, product pipeline.
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About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
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