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ePharmacy Market

Global ePharmacy Market Size, Share, Trends, Analysis: By Type: Over-The-Counter Products, Prescription Medicine; By Operating Platform: Mobile Application, Website; By Business Model: Inventory, Marketplace, Direct; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Global ePharmacy Market Outlook

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.

 

Key Takeaways

  • E-pharmacies in regions such as the US and the UK provide end-to-end healthcare solutions, including teleconsultations and e-diagnostics.
  • Players are increasingly investing in mergers and acquisitions and are partnering with offline pharmacies to increase their reach.
  • As healthcare goes mobile, teleconsultation and e-pharmacy are becoming the new normal even in developing nations like India.

 

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.

 

Global ePharmacy Market

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Key Trends and Developments

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.

 

ePharmacy Market Trends

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.

 

Global ePharmacy Market by Type

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Market Segmentation

“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.

 

Global ePharmacy Market By Region

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Competitive Landscape

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.

 

ePharmacy Market Analysis by Region

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.

 

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.

 

Key Highlights of the Report

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:

  • Type
  • Operating Platform
  • Business Model
  • Region
Breakup by Type
  • Over-The-Counter Products
  • Prescription Medicine
Breakup by Operating Platform
  • Mobile Application
  • Website
Breakup by Business Model
  • Inventory
  • Marketplace
  • Direct
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • CVS Pharmacy
  • Giant Eagle Inc.
  • Express Script Holding Company
  • OptumRx, Inc.
  • Walmart Corporate
  • Medlife International Pvt.Ltd.
  • Others
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.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global ePharmacy Market Analysis
    8.1    Key Industry Highlights
    8.2    Global ePharmacy Historical Market (2018-2023) 
    8.3    Global ePharmacy Market Forecast (2024-2032)
    8.4    Global ePharmacy Market by Type
        8.4.1    Over-The-Counter Products
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Prescription Medicine
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global ePharmacy Market by Operating Platform
        8.5.1    Mobile Application
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Website
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global ePharmacy Market by Business Model
        8.6.1    Inventory
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Marketplace
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Direct
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
    8.7    Global ePharmacy Market by Region       
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032) 
9    North America ePharmacy Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe ePharmacy Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific ePharmacy Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America ePharmacy Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa ePharmacy Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    CVS Pharmacy
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Giant Eagle Inc.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Express Script Holding Company
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    OptumRx, Inc.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Walmart Corporate
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Medlife International Pvt.Ltd.
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Others
17    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global ePharmacy Market: Key Industry Highlights, 2018 and 2032
2.    Global ePharmacy Historical Market: Breakup by Type (USD Billion), 2018-2023
3.    Global ePharmacy Market Forecast: Breakup by Type (USD Billion), 2024-2032
4.    Global ePharmacy Historical Market: Breakup by Operating Platform (USD Billion), 2018-2023
5.    Global ePharmacy Market Forecast: Breakup by Operating Platform (USD Billion), 2024-2032
6.    Global ePharmacy Historical Market: Breakup by Business Model (USD Billion), 2018-2023
7.    Global ePharmacy Market Forecast: Breakup by Business Model (USD Billion), 2024-2032
8.    Global ePharmacy Historical Market: Breakup by Region (USD Billion), 2018-2023
9.    Global ePharmacy Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.    North America ePharmacy Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    North America ePharmacy Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Europe ePharmacy Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Europe ePharmacy Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Asia Pacific ePharmacy Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Asia Pacific ePharmacy Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Latin America ePharmacy Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Latin America ePharmacy Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Middle East and Africa ePharmacy Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Middle East and Africa ePharmacy Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Global ePharmacy Market Structure

Key Questions Answered in the Report

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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