The Global E-Pharmacy Market was valued at USD 60.4 Bn in 2021, and it is expected to reach USD 136.1 Bn in 2028, at a CAGR of 13.84%. E-Pharmacy is a pharmacy that operates over the internet and sends orders to customers through shipping companies. Increasing utilization of Electronic Prescription Service (EPS) in the pharmacy sector has driven the E-pharmacy market growth as the patients can easily upload their e-prescriptions and order medicines online. The Electronic Prescription Service (EPS) allows healthcare professionals to go paperless, by sending prescriptions in the digital format. In October 2019, the Department of Health, UK, has announced to all medical prescriptions will become fully digital under an NHS plan. Therefore, due to the rising implementation of EPS, uploading the prescription online has become easy and less time-consuming. Thus, all the aforementioned factors are propelling the market growth during the forecast period.
To acquire information about the global E-Pharmacy market secondary research has been used extensively in this study. Furthermore, primary research has been conducted to validate the aforementioned assumptions and findings for individual industries/businesses. The research report on the E-Pharmacy market report is described as a basic source of information on the topological landscape of the companies and their respective businesses.
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COVID-19 ANALYSIS
During the COVID-19, the e-pharmacy market is expected to grow significantly due to lockdown and travel restrictions, along with the fear of getting infected with the coronavirus. During the pandemic, in-person doctor visits are being replaced by virtual-based teleconsultations, which results in the generation of electronic or digital prescriptions. This is led to increased dependence on e-pharmacies for the purchase of both over-the-counter and prescription drugs.
During the pandemic, the major market players are coming up with various strategies to combat the COVID-19. In March 2020, CVS Health is working with clients to implement new measures to balance the demand for the off-label use of drugs that are used in the treatment of both COVID-19 and other chronic diseases. These medicines include azithromycin, hydroxychloroquine, one protease inhibitor, and albuterol inhalers, which are approved for the treatment of bacterial infections, HIV, asthma, and rheumatoid arthritis. Moreover, the trend of non-contact delivery has been in increased due to the pandemic, which has propelled the e-pharmacy demand.
LATEST TREND
The Over-The-Counter (OTC) Drugs Is Expected to Grow at The Fastest Rate
Over-the-counter (OTC) medicines are drugs you can buy without a prescription. Some OTC medicines relieve aches, pains, and itches and cure diseases, like tooth decay and athlete's foot. In February 2020, the United States, the Food and Drug Administration, which decides whether a medicine is safe and effective enough to sell over-the-counter, converted three prescription drugs to over-the-counter, including GlaxoSmithKline’s Voltaren Arthritis Pain, and Alcon’s Pataday. Moreover, during the pandemic, the e-pharmacy market, particularly for the OTC drugs, witnessed significant growth, as consumers are reluctant to visit clinics for minor ailments in fear of being infected by COVID-19.
We've also provided a brief overview of its leading manufacturers' revenue share, production, consumption volume, sales price, import/export, and gross margin. Furthermore, the E-Pharmacy market is bifurcated into segments based on upstream raw materials, definitions, downstream users, and equipment analyses. The global E-Pharmacy market report also includes data on recent developments, the competitive landscape, E-Pharmacy market impacting factors, and key industry statistics.
The global E-Pharmacy market report has been classified by application, key manufacturers, product kinds, and topological zones to enhance numerous manufacturing techniques, advertising methods, and global and regional sales affects the E-Pharmacy market. In the E-Pharmacy market, several important aspects such as E-Pharmacy market share, investments, revenue growth, focus on expanding demand and supply factors are thoroughly examined. The research document also examines the E-Pharmacy market's production value and growth rate across various regions. It also focuses on the top consumers, consumption, product capacity, their market share, and projected growth potential.
Top Players involved in this report are:
DocMorris
CVS Health
Express Script Holding Company
Walgreen Co.
Optum Rx, Inc.
Giant Eagle, Inc.
Walmart Stores, Inc.
Rowland Pharmacy
The Kroger Co
Global E-Pharmacy Market segmentation by Types:
Prescription Drugs
Over-the-Counter (OTC) Drugs
The Application of the E-Pharmacy market can be divided as:
App
Website
Geographical outlook of this report:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa
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The competitive assessment of the prominent industry players is also encompassed in the global E-Pharmacy market which is responsible to recognize direct or indirect competitors present in the industry. It offers company profiles of the E-Pharmacy industry players in accordance with product picture and its portfolios, E-Pharmacy market plans, and technology. We have also mentioned strength and weaknesses of the E-Pharmacy market alongside the competitive benefits which improves productivity and efficiency of the companies.
