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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.
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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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