New York, NY, June 04, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Online Pharmacy Market By Product Type (Skin Care, Dental, Cold and Flu, Vitamins, Weight Loss, and Others), By Platform Type (Mobile Users, and Desktop Users), By Drug Type (OTC Medicines, and Prescription Medicines): Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026”.
“According to the recent research report, the demand of global Online Pharmacy Market size & share expected to reach to USD 178.1 Billion by 2026 from USD 68.3 Billion in 2020, at a compound annual growth rate (CAGR) of 17.3% during the forecast period 2021 to 2026”
Global Online Pharmacy Market: Overview
An online pharmacy is a web-based vendor that sells drugs. It includes both legitimate and illegal pharmacies. Independent Internet-only pharmacies, online branches of "brick-and-mortar" pharmacies, and sites that represent pharmacy partnerships are all included in the phrase "online pharmacies." E-commerce has increased in recent years, particularly online purchasing, and this includes the sale of both prescription and non-prescription drugs. The concept of online pharmacies and online medicine sales has been widespread around the world for more than two decades. The demand for online pharmacies has risen dramatically in recent years, and the trend is expected to continue during the projected period.
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(The free sample of this report is readily available on request).
Our Free Sample Report Includes:
- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 195+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of table & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Industry Major Market Players
- The Kroger Co.
- Wal-Mart Stores Inc.
- Walgreen Co.
- Express Scripts Holding Company
- CVS Health
- Giant Eagle Inc.
- Rowlands Pharmacy
- DocMorris (Zur Rose Group AG) and OptumRx Inc.
- Netmeds Marketplace Ltd.
- DocMorris Express Scripts and Medlife International Pvt. Ltd
To know an additional revised list of 2020-2021 top market players, request a sample report: https://www.fnfresearch.com/sample/online-pharmacy-market
Key questions answered in this report:
- What is the projected market size & growth rate of the Online Pharmacy Market?
- What are the key driving factors for the growth of the Online Pharmacy Market?
- What are the top companies operative in Online Pharmacy Market?
- What segments are covered in Online Pharmacy Market?
- How can I get free sample report/company profiles of the Online Pharmacy Market?
Market Dynamics
Wide Adoption of E-Commerce Platform across the World
People are choosing internet pharmacies because of appealing features including lower prices, easier drug availability, and home delivery possibilities. Consumers are no longer required to buy medications through pharmacies. Furthermore, as information technology becomes more generally implemented in the healthcare industry, practitioners will be able to electronically submit prescriptions, supporting market growth. The world's population is adapting to online pharmacies, thanks to a rapidly expanding number of smartphone users, improved digital infrastructure, and online payment choices.
The constant rise in healthcare costs in emerging nations indicates a growing need to minimize expenses. The ever increasing demand for healthcare products and services makes it difficult for offline retailers to meet the growing demand demographically, presenting a huge opportunity for online health retailers to cater to a large consumer base. The rising prevalence of chronic diseases is driving up demand for a variety of drugs and healthcare products. People are turning to online pharmacies because of attractive offers such as price reductions, ease of drug availability, and home delivery services. Consumers are no longer required to purchase medicines from pharmacies. In addition, as information technology becomes more widely adopted in the healthcare sector, clinicians will be able to send prescriptions electronically, boosting the market growth.
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COVID-19 Impact on the Global Online Pharmacy Market
Covid-19 pandemic has been a boon for the global online pharmacy market. Customers turned up massively and started showing great interest in online purchases of medicines. The citizens around the world had resorted to taking precautionary vitamin and mineral supplements via medicine. The pandemic forced lockdown made movement difficult for the people and online medicines purchased a significant surge. Also, the restrictions owing to the pandemic have resulted in companies and consumers preferring contactless delivery. This has become the new normal in the pandemic and the trend is expected to continue throughout the forecast period, even after the pandemic.
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North America Region Dominates the Global Online Pharmacy Market
North America hunks the major market share in the global online pharmacy industry in 2020 and is predicted to grow at a strong CAGR through 2026. Due to the ease with which a wide range of pharmaceuticals may be accessible, the region's growth drivers are increasing internet penetration, which has led to the rapid acceptance of new technologies, as well as demand for digital health platforms. Furthermore, the presence of local online pharmacy players, as well as major industry players, in the region will expand the market.
The Asia Pacific is expected to grow at the fastest pace over the forecasted period, owing to the availability of a large patient pool and an increase in the target population. Emerging economies like China and India have plenty of opportunities to expand. In addition, the Asia-Pacific region would house almost 66 percent of the world's elderly population. An increase in diabetes incidence, rising per capita income, and government efforts to improve healthcare quality are all contributing to the Asia-Pacific region's rapid rise. China, India, and Australia are promising e-Pharmacy markets because of their aging populations. In India, In August 2020, MedLife and PharmEasy announced their merger, where MedLife will be selling off their operations to PharmEasy for an almost 20% stake in the latter. This merger will offer business expansion opportunities to the firm in emerging economies.
Browse the full “Online Pharmacy Market By Product Type (Skin Care, Dental, Cold and Flu, Vitamins, Weight Loss, and Others), By Platform Type (Mobile Users, and Desktop Users), By Drug Type (OTC Medicines, and Prescription Medicines): Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” report at https://www.fnfresearch.com/online-pharmacy-market.
The global online pharmacy market is segmented as follows:
By Product Type:
- Skin Care
- Dental
- Cold and Flu
- Vitamins
- Weight Loss
- Others
By Platform Type:
- Mobile Users
- Desktop Users
By Drug Type:
- OTC Medicines
- Prescription Medicines
Key Highlights of this Report:
- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
- Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
- Market Attractiveness Analysis and Key Investment Opportunity Analysis in the Market going forward
- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
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