Global E-Pharmacy Market Expected to Reach around US$ 132.3 billion by 2028, market to Transcend Greater Heights with CAGR of 18.3% Over 2021-2028 - Zion Market Research

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20 Sep, 2021, 13:00 GMT

NEW YORK, Sept. 20, 2021 /PRNewswire/ -- As per the findings of Zion Market Research study, E-Pharmacy industry gathered revenue about US$ 60.5 billion in 2020 and is slated to earn revenue of approximately US$ 132.3 billion by 2028. The E-Pharmacy Market is projected to register highest gains of approximately 18.3% during 2021-2028. Additionally, surge in internet penetration across globe along with need for digitization of healthcare solutions will steer growth of e-pharmacy industry during assessment period. In addition to this, onset of COVID pandemic has resulted in strict implementation of social distancing norms and face to face interactions, thereby boosting growth of e-pharmacy market.

Apparently, rise in online purchasing of medicines due to COVID pandemic will promulgate scope of e-pharmacy industry over projected timeframe. With e-pharmacy firms offering huge discounts to customers, market for e-pharmacy is anticipated to gain traction over upcoming years. Furthermore, e-pharmacies provide better pricing than other offline stores and have greater access in addition to reduced product & transaction costs. Moreover, it can also provide high access to persons that have low mobility as well as persons residing in remote areas. Furthermore, e-pharmacy industry is swiftly expanding in low-income and middle-income countries over last few years and COVID-19 pandemic has prompted massive online sale of medicines.

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Furthermore, e-pharmacy is also predicted to offer new avenues for customers to have easy medicine access, particularly those customers who need regular medicines for treatment of their chronic ailments and those patients who are elderly & residing in remote areas as well as unable to avail offline pharmacy services. Apart from this, purchase of medicines online can be easy, prompt, and convenient and can be easily accessed to persons with deformities & disabilities.

High Smartphone Utilization & COVID Outbreak to Drive Market Trends

Growing trend of using smartphone and internet usage across globe is likely to enlarge growth prospects of e-pharmacy market over upcoming years. In addition to this, thriving e-commerce activities in healthcare sector will further contribute towards expansion of e-pharmacy market over forecasting period. Additionally, rise in occurrence of chronic ailments has led to surge in demand for myriad healthcare products, thereby steering market size. Rampant rise in COVID pandemic across globe has resulted in lockdown to arrest disease spread and promoted social distancing and this has facilitated demand for medicines through online pharmacies. This will result in growth of e-pharmacy market across globe.

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North American E-Pharmacy Market to Register Lucrative Growth By 2028  

Surging geriatric population, rise in digital sales, and enhanced healthcare infrastructure facility in countries such as Canada and the U.S. will escalate growth of e-pharmacy market in North America over 2021-2028. Changing trend towards direct-to-patient prototype will steer need for end-user friendly online experiences, thereby paving way for growth of e-pharmacy industry in North America during assessment period.

Key players influencing market growth and profiled in our study are The Kroger Co., The Walgreen Company, Express Scripts Holding Company, CVS Health, Doc Morris, Giant Eagle, Inc., WalMart, Inc., OptumRx, Inc., and Netmeds.

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This review is based on a report by Zion Market Research, titled, "Global E-Pharmacy Market - by Drug Type (Prescription Drugs and Over the Counter Drugs): Industry Perspective, Comprehensive Analysis, and Forecast, 2021–2028."

The global E-Pharmacy market is segmented as follows:

By Drug Type

  • Over The Counter (OTC) Drugs
  • Prescription Drugs

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Browse Other Related Research Reports from Zion Market Research

Browse all other Pharmaceutical Industry Research Reports - https://www.zionmarketresearch.com/category/pharmaceutical

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