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Base Year
Historical Year
Forecast Year
The global ePharmacy market size reached approximately USD 93.18 billion in 2023. The market is projected to grow at a CAGR of 14.2% between 2024 and 2032, reaching a value of around USD 308.61 billion by 2032.
Global ePharmacy Market Report Summary | Description | Value |
Base Year | USD Billion | 2023 |
Historical Period | USD Billion | 2018-2023 |
Forecast Period | USD Billion | 2024-2032 |
Market Size 2023 | USD Billion | 93.18 |
Market Size 2032 | USD Billion | 308.61 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 14.2% |
CAGR 2024-2032 - Market by Region | Asia Pacific | 15.3% |
CAGR 2024-2032 - Market by Country | India | 15.6% |
CAGR 2024-2032 - Market by Country | China | 15.1% |
CAGR 2024-2032 - Market by Type | Prescription Medicine | 15.2% |
CAGR 2024-2032 - Market by Operating Platform | Mobile Application | 15.8% |
Market Share by Country 2023 | Australia | 2.1% |
An epharmacy is an online pharmacy or a platform that operates over the Internet and allows users to order or purchase medicines without physically visiting any medical store. These orders are delivered to the customer’s place via mail. The option to place an online order and the easy access to healthcare products with timely delivery have resulted in increased consumer satisfaction, thus, increasing the demand for epharmacies globally.
The growing consumer preference for doorstep services and online procurement of goods, including healthcare products, is driving the epharmacy market growth. The market is being supported by the expansion of the e-commerce sector both in developed and developing countries. With the rapid technological advancements and the increasing startup investments, the market is expected to witness healthy growth over the forecast period. The ability of epharmacies to offer convenient and hassle-free services at low costs and discounted prices supports the market.
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Increased adoption of digital health solutions; ability to offer personalised services and improve customer engagement; use of blockchain for security and transparency; and regulatory changes and compliance are the major trends impacting the ePharmacy market
Date | Company | Event |
Jan 13, 2022 | Hyphens Pharma | Hyphens Pharma formally inaugurates the first e-pharmacy in Singapore which is approved by the Health Sciences Authority (HSA). |
Jan 3, 2023 | Ghana National Electronic Pharmacy Platform | The Ghana National Electronic Pharmacy Platform, also known as the e-Pharmacy platform, commences its operations nationwide, enabling the Ghanaian public to buy prescribed medicines online, offering improved accessibility and convenience of home-delivery. |
Jan 19, 2023 | Unfabled | An e-commerce startup Unfabled, focused on menstrual wellbeing, entered into a partnership with an online platform, E-pharmacy to provide online pharmacy services. |
Mar 13, 2023 | Medigo | The Vietnam-based telehealth platform, Medigo, successfully secured $2 million in Series A funding, with East Ventures leading the investment round, emphasising growing interest and confidence in the telehealth sector within Southeast Asia. |
Trends | Impact |
Increased adoption of digital health solutions worldwide | Consumers are increasingly comfortable using online platforms for health consultations, prescription management, and purchasing medications, which supports the epharmacy market expansion. |
Ability to offer personalised services and improve customer engagement | E-pharmacies are leveraging data analytics and AI to offer personalised shopping experiences, medication management, and health advice. |
Use of blockchain for security and transparency | Some e-pharmacies are exploring blockchain technology to enhance security, privacy, and transparency in the prescription fulfilment process. |
Regulatory changes and compliance in epharmacy sector | As the e-pharmacy market grows, regulatory frameworks are evolving to ensure consumer safety, data privacy, and the integrity of the medication supply chain. |
The growing comfort of consumers with online platforms for health consultations, prescription management, and purchasing medications is a significant trend that is driving the expansion of the market. The advancement of secure and user-friendly digital platforms has made online health consultations, prescription management, and medication ordering more reliable and easier to use, and enhanced digital interfaces, mobile apps, and improved cybersecurity measures have contributed to increased consumer trust.
Many e-pharmacies and digital health platforms are now integrated with health systems, allowing for seamless communication between patients, doctors, and pharmacists and this integration supports efficient prescription management, medication adherence, and continuity of care.
Moreover, the market players are increasing their collaboration efforts to broaden their reach. The 2023 partnership between Unfabled, a startup specialising in menstrual care, and E-pharmacy, a platform regulated by the General Pharmaceutical Council and operated by clinicians, represents a strategic collaboration aimed at expanding the range of healthcare services available to consumers via digital platforms. By partnering with an e-pharmacy, Unfabled is broadening its service offerings beyond just menstrual care products to include a wider range of pharmacy services. This could encompass prescription medications, over-the-counter drugs, and other health and wellness products accessible through the convenience of an online platform.
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“ePharmacy Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup | Categories |
Type | Over-The-Counter Products, Prescription Medicine |
Operating Platform | Mobile Application, Website |
Business Model | Inventory, Marketplace, Direct |
Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
Prescription medicines account for the majority of the ePharmacy market share owing to the increased convenience of purchasing medicines through digital prescriptions
Prescription medicines hold the highest share in the market. The increasing acceptance and regulatory approval of digital prescriptions in many countries have made it easier for patients to purchase prescription medications online and this convenience, combined with the need for ongoing medication by patients with chronic conditions, drives a high volume of sales. In many regions, prescription drugs are covered by health insurance plans, making them more accessible and affordable for consumers when ordered online.
The demand for over-the-counter products is also anticipated to grow at a robust rate in the forecast period. Consumers value the convenience of purchasing OTC products online, especially for common ailments and personal wellbeing, and the ability to compare products, read reviews, and receive home delivery appeals to a broad consumer base. The trend towards self-care and wellness has led to an increase in the consumption of vitamins, supplements, and other health-related OTC products.
Mobile applications lead the ePharmacy market as these apps offer highly personalised services to the users
The epharmacy market is driven by the widespread use of smartphones and the convenience of accessing services through mobile apps. Consumers appreciate the ease of browsing, ordering, and tracking deliveries on their phones, which are always within reach. Mobile apps allow for a higher degree of personalisation, offering users recommendations based on their browsing and purchase history. Push notifications enable real-time updates on promotions, order status, and prescription refill reminders, enhancing user engagement.
Websites also hold a sizeable share in the epharmacy market as websites can be accessed from any device with internet connectivity, including desktops, laptops, tablets, and smartphones, ensuring that e-pharmacy services are available to a wide audience, including those who may not use smartphones extensively. Websites often provide more comprehensive information about products, health resources, and customer support options and the larger screen size of desktops and laptops facilitates easier browsing of extensive product catalogs and the reading of detailed product descriptions and reviews.
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The market players are focused on strengthening their product and services offerings through acquisitions and diversification, further directing their efforts to improve supply-side economics
Company | Founded | Based in | Operations |
CVS Pharmacy | 1963 | Rhode Island, United States | Retail pharmacy, prescription fulfilment, health-related services |
Giant Eagle Inc. | 1931 | Pennsylvania, United States | Grocery retail, pharmacy services, banking, fuel |
Express Script Holding Company | 1986 | Missouri, United States | Managing drug plans, negotiating with pharmacies and drug manufacturers, processing prescription drug claims |
Walmart Corporate | 1962 | Arkansas, United States | Retail goods, grocery, pharmacy, financial services |
Other major players in the ePharmacy market include OptumRx, Inc. and Medlife International Pvt.Ltd., among others. Key market players in the market engage in a variety of activities to serve their customers, maintain competitiveness, and expand their market share.
North America dominates the global market for epharmacy. The high internet penetration and the increased literacy of the general population regarding internet resources in the region are aiding the market growth. The early access to advanced technology in the region and the thriving e-commerce sector are significantly contributing to the regional market growth.
CAGR 2024-2032 - Market by | Country |
India | 15.6% |
China | 15.1% |
Mexico | 14.7% |
UK | 14.6% |
USA | 13.7% |
Canada | XX% |
Germany | 13.6% |
France | XX% |
Italy | XX% |
Japan | XX% |
Australia | XX% |
Saudi Arabia | XX% |
Brazil | XX% |
Europe is another key market, contributing to the overall revenue. However, the stringent regulatory compliance regarding the sales of prescription drugs in developed countries is expected to be a major challenge for the manufacturers.
Meanwhile, the Asia Pacific ePharmacy market is expected to witness robust growth in the forecast period owing to the growing digitisation and the increasing penetration of the e-commerce sector in the region. Moreover, with the outbreak of the COVID-19 pandemic, the sales of pharmaceuticals and healthcare products through online platforms and mobile apps have significantly increased, along with the penetration of virtual care and digital health services, which is expected to have a positive influence on the market globally.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Operating Platform |
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Breakup by Business Model |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market reached an approximate value of USD 93.18 billion.
The market is estimated to grow at a CAGR of 14.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 308.61 billion by 2032.
The major drivers of the market include the increasing internet penetration, growing demand for online services, thriving e-commerce market, and growing technological advancements.
The key market trends include the increasing investments in various startups and the rising demand for contactless services.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading types of epharmacy in the market are over-the-counter products and prescription medicine.
The major operating platforms of epharmacy in the market are mobile application and website.
The significant business models in the market are inventory, marketplace, and direct.
The major players in the market are CVS Pharmacy, Giant Eagle Inc., Express Script Holding Company, OptumRx, Inc., Walmart Corporate, and Medlife International Pvt.Ltd., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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