New York, NY, June 28, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “ePharmacy Market By Drug Type (Over-the-Counter Products & Prescription Medicine), By Product (Skin Care, Dental, Cold & Flu, Vitamins, Weight Loss, and Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 - 2026”.
“According to the recent research report, the demand of global ePharmacy Market size & share expected to reach to USD 111.10 Billion by 2026 from USD 51.20 Billion in 2020, at a compound annual growth rate (CAGR) of 15.10% during the forecast period 2021 to 2026”
Global ePharmacy Market: Overview
ePharmacy or Internet pharmacy refers to the act of distributing medicine through the Internet and distributing them directly to the doorstep of the consumer. For prescription of medicines over the Internet, rules regulate that you need to be a licensed pharmacist. Due to the ease of business and higher profit margins, a rising number of traditional pharmacy practices are now shifting toward the ePharmacy business. The driving factors behind the significant rise of the ePharmacy market are the rising penetration of e-commerce coupled with the increased efficiency of ePharmacies. Additionally, the increased ability of the old age population and consumers suffering from chronic disorders will further cater to a large number of consumers for the global ePharmacy market.
Rising consumer awareness, increasing millennial population, the rise of startups, and integration of advanced technological feats such as AI and ML will further boost the growth of the global ePharmacy market during the forecast period. Increasing regulation regarding consumer safety and stringent regulation will further open new revenue opportunities for the global ePharmacy market during the forecast. The rising number of Internet users increased access to web-based services, and the rising e-prescription requests from hospitals and other healthcare infrastructure will boost the growth of the market to a great extent.
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- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
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(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Industry Major Market Players
- DocMorris
- CVS Health Corporation
- Express Script Holding Company
- Walgreen Co
- Optum Rx Inc.
- Giant Eagle Inc.
- Walmart Stores Inc.
- Rowland Pharmacy
- The Kroger Co.
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Key questions answered in this report:
- What is the projected market size & growth rate of the ePharmacy Market?
- What are the key driving factors for the growth of the ePharmacy Market?
- What are the top companies operative in the ePharmacy Market?
- What segments are covered in the ePharmacy Market?
- How can I get free sample report/company profiles of the ePharmacy Market?
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Market Dynamics
The global ePharmacy market can be divided into over-the-counter products and prescription medicine on the basis of drug type. The over-the-counter segment is expected to witness the largest market share during the advent of the forecast while the latter is expected to witness the fastest growing CAGR. Factors responsible for the dominant position of the segment are the increasing trend of self-medication and increased cost-saving measures among others.
The global ePharmacy market can be fragmented into skincare, dental, cold & flu, vitamins, weight loss, and other product types on the basis of application.
The following developments are expected to change the dynamics of the global ePharmacy market during the forecast:
- Meds, a Swedish online pharmacy firm grabbed funding of $5.5 Million in order to expand their franchise into Europe. This initial round of funding is expected to increase the consumer base and increase the focus of the firm towards a new region.
- Rite Aid Corp recently acquired Envision Rx Options that specializes in mail-order pharmacies that include a wider range of prescription services. The following acquisition has allowed Rite Aid Corp to begin its transition to prescription medicine.
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Also Read: Online Pharmacy Market Size & Share 2021 Research Report
Global ePharmacy Market: Segmentation
The global ePharmacy market can be segmented into drug type, product, and region.
On the basis of drug type, the global ePharmacy market can be divided into over-the-counter products and prescription medicine. The segment of over-the-counter products is expected to witness the largest market share during the advent of the forecast. Factors responsible for the dominant growth of the segment can be credited to the increased tendency of people to switch to self-medication practice and efficient cost-saving advantages to name a few. However, the segment of prescription medicine is expected to witness the fastest growing CAGR during the forecast period. On the basis of product, the global ePharmacy market can be fragmented into skincare, dental, cold & flu, vitamins, weight loss, and other product types.
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Global ePharmacy Market: Regional Analysis
North America is expected to witness the largest market share during the advent of the forecast owing to global revenue contribution. Factors that are responsible for the dominant growth of the market in the region can be attributed to the over-reliance of the general population on online delivery for a popular range of consumables coupled with the rising adoption of patients opting for home care treatment solutions and services due to increased costs of traditional healthcare costs. Asia-Pacific is expected to witness the fastest growing CAGR during the forecast owing to increased penetration of the Internet and higher penetration of e-commerce solutions across the consumer base.
Browse the full report “ePharmacy Market By Drug Type (Over-the-Counter Products & Prescription Medicine), By Product (Skin Care, Dental, Cold & Flu, Vitamins, Weight Loss, and Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 - 2026” at https://www.fnfresearch.com/epharmacy-market
The global ePharmacy market can be segmented into:
Global ePharmacy Market: By Drug Type Segment Analysis
- Over-the-Counter Products
- Prescription Medicine
Global ePharmacy Market: By Product Segment Analysis
- Skin Care
- Dental
- Cold & Flu
- Vitamins
- Weight Loss
- Other Products
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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