Global ePharmacy Market to Grow at a CAGR of 14.2% During 2024-2032, Aided by the Increasing Consumer Preference for Online Delivery of Healthcare Products

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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Market Breakup by Type, Operating Platform, Business Model, and Region:

• The market is bifurcated based on type into over-the-counter products and prescription medicine.
• On the basis of operating platform, the market can be divided into mobile application and website.
• Based on business model, the market is segmented into inventory, marketplace, and direct.
• Region-wise, the global market for epharmacy can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for epharmacy is being driven by the growing consumer demand for convenient and online services.
• The growing e-commerce sector has significantly contributed to the market expansion. 
• The rapid technological advancements and the increasing internet penetration, particularly in developing nations, are also aiding the industry growth.
• With the outbreak of the COVID-19 pandemic, the market is expected to witness a robust growth owing to the stringent regulations on movement of people and a surge in demand for healthcare products.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for epharmacy for the periods (2018-2023) and (2024-2032).
• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the types, operating platforms, business models, and major regions of epharmacy.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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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