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The favorable regulatory framework, product innovations, high penetration in the emerging market, and growing pharmaceutical companies toward OTC drugs from Rx drugs are among the top trends driving the global online pharmacy market growth. Speak directly to the analyst to clarify any post sales queries you may have.
Online pharmacy companies use competitive pricing by providing the same product at an equal or lesser price to acquire new customers and a larger market share. Online pharmacies also have an opportunity to present their online platform as advertising space on rent, allowing different parties such as manufacturers, laboratories, clinics, hospitals to do their promotion on these websites. This is an excellent source for generating revenue.
The online pharmacy market is expected to grow at a CAGR of 17.26% during the forecast period. In-depth analysis and data-driven insights on the impact of COVID-19 are included in this report.
COVID-19 IMPACT
With the COVID-19 pandemic gripping the globe and social distancing being the popular mode of operation, Internet sales of medicinal items such as face masks, hand sanitizers, and anti-bacterial shot up by more than 800% over the past year. Moreover, with policymakers enforcing travel bans and lockdowns or staying-at-home initiatives, consumers are taking advantage of the ability to buy OTC medications. online pharmacies have also eased the delivery of basic necessities and have driven the demand for other businesses as well.
MARKET GROWTH & TRENDS
- Increase in Health Awareness & Demand for Self-medication
- Increased Collaboration Among Stakeholders
- Competitive Price Heavy Promotion & Different Business Models
- Rise in Direct to Patient Drug Sales
- Rising Implementation of E-Prescriptions in Hospitals and Other Healthcare Services
- Improving Online Payment
ONLINE PHARMACY MARKET SEGMENTS
In 2021, the OTC segment dominated the global online pharmacy market with a share of over 54%
The increasing proliferation of e-prescriptions will help the prescription medicine segment gain market share during the forecast period 2021-2027.
Medications include the regular purchase of medicines and refilling prescriptions. This segment accounted for a major share in the market due to various reasons like an increase in the target population and the rising prevalence of patients suffering from chronic conditions like diabetes, cancer, hypertension, and other cardiac-related conditions that require constant medications.
GEOGRAPHICAL OUTLOOK
Online pharmacy platforms are simple and convenient because they reduce the effort required to go to the pharmacy and help consumers know about the availability of over-the-counter products and medicines.
The convenience and easy access to products through online pharmacy services is expected to increase the online customer base and contribute to the growth of the North American online pharmacy market during the forecast period.
VENDOR LANDSCAPE
The major players in the industry are Amazon Pharmacy, Cigna (Express Scripts), CVS Health, Giant Eagle, Kroger, Shop Apotheke, Walgreens Boots Alliance, Walmart, and Zur Rose Group.
New players like Amazon are entering the US market by acquiring the online pharmacy channel of major players.
THE REPORT INCLUDES:
1. The analysis of the Global Online Pharmacy Market provides market size and growth rate for the forecast period 2022-2027.
2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the Online Pharmacy Market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of the global Online Pharmacy Market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and critical market strategies to gain competitive advantage.
Table of Contents
1 Research Methodology2 Research Objectives3 Research Process6 Market at a Glance
4 Scope & Coverage
5 Report Assumptions & Caveats
7 Introduction
8 Market Opportunities & Trends
9 Market Growth Enablers
10 Market Restraints
11 Market Landscape
12 Medicine Type
13 Platform Type
14 Product Type
15 Geography
16 North America
17 Europe
18 EU5
19 Central & Eastern Europe
20 Nordic Countries
21 APAC
22 Latin America
23 Middle East & Africa
24 Competitive Landscape
25 Key Company Profiles
26 Other Prominent Vendors
27 Report Summary
28 Quantitative Summary
29 Appendix
List of Exhibits
List of Tables
Companies Mentioned
- Amazon Pharmacy
- Cigna (Express Scripts)
- CVS Health
- Giant Eagle
- Kroger
- Shop Apotheke
- Walgreens Boots Alliance
- Walmart
- Zur Rose Group
- Chemist Direct
- Medlife
- MonCoinSanté
- TATA 1mg
- AMX Holdings
- Apteka.ru
- Apotea
- Azeta
- BestPharmacy
- BioPlus Specialty Pharmacy
- Carepoint Pharmacy
- Chemist 4 U
- Cocooncenter
- DeOnlineDrogist
- Farmacia Internacional
- Foundation Care
- GoGoMeds
- Healthwarehouse
- Hi-School Pharmacy
- Hims & Hers Health
- Henry Ford Health System
- Kinney Drugs
- KwikMed
- Index Medical
- InhousePharmacy
- Japan Health center
- Lékárna WPK
- Lekarnar
- LloydsPharmacy
- MedExpress
- Meds
- MedVantx
- MyCare
- Netmeds
- Newpharma
- com
- Nunokame
- Oxford Online Pharmacy
- Parafarmacia-online
- Pharm24
- Pharmacy2U
- Pharmacy4u
- Prvalekarna
- PROTEK Group
- RO pharmacy
- RX-24-Online.com
- Sanicare
- SBER EAPTEKA
- Simple Online Pharmacy
- The Canadian Pharmacy
- UK Meds
- Vamida
- Woori Pharmacy
Methodology
Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.
Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 351 |
| Published | February 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 70.11 Billion |
| Forecasted Market Value ( USD | $ 182.22 Billion |
| Compound Annual Growth Rate | 17.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 62 |
