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According to a new report by EMR titled, ‘Global ePharmacy Market Report and Forecast 2021-2026’, the market is expected to witness a healthy growth in the forecast period, growing at a CAGR of 13% between 2021 and 2026. The market is projected to reach a value of USD 131 billion by 2026.
The global epharmacy industry is being driven by the thriving e-commerce sector across the globe. The increasing consumer demand for online services and doorstep delivery of healthcare products has significantly boosted the growth of the industry. The market is also being supported by the rising implementation of e-prescription and digital technologies in clinics and hospitals. In developed countries like the United States, the over-reliance of consumers on online delivery of consumable goods has significantly contributed to the market expansion. Further, the increased penetration of the leading companies in the region is also aiding the industry growth. Meanwhile, the Middle East and Africa is expected to account for a relatively small market share in the forecast period due to the lack of consumer awareness regarding epharmacy.
The growing focus of the leading players on expanding their presence across the key developing markets and strengthening their distribution channel is expected to significantly boost the industry growth over the forecast period. CVS Pharmacy, one of the leading players in the industry, is a retail pharmacy chain owned by an American healthcare company CVS Health Corp (NYSE: CVS). The company announced to open three new CVS Pharmacy stores in the Portland area by end of 2019, with the aim to bring a health-centric retail pharmacy experience to the region. Such developments are expected to have a positive influence on the market growth over the forecast period.
Market Breakup by Type, Operating Platform, Business Model, and Region:
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Key Offerings of the Report:
The major players in the global epharmacy market are CVS Pharmacy, Giant Eagle Inc., Express Script Holding Company, OptumRx, Inc., Walmart Corporate, and Medlife International Pvt.Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
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