Chicago, Feb. 21, 2022 (GLOBE NEWSWIRE) -- Our new research study on, "Online Pharmacy Market – Global Outlook & Forecast 2022-2027" is segmented by medicine type, platform type, product type, and geography. The online pharmacy market is projected to reach $70.11 billion during the forecast period. The online pharmacy market is projected to reach $70.11 billion during the forecast period.
Scope of the Online Pharmacy Market
| Report Coverage | Details | |
| Market Size in 2021 | $70.11 billion | |
| Market Size in 2027 | $182.22 billion | |
| Growth Rate from 2021 to 2027 | 17.26% | |
| Largest Market | North America | |
| Fastest Market | APAC | |
| Base Year | 2021 | |
| Forecast Period | 2022-2027 | |
| Segments Covered | Medicine Type, Platform Type, Product Type, and Geography | |
| Companies Mentioned | Amazon Pharmacy, Cigna (Express Scripts), CVS Health, Giant Eagle, Kroger, Shop Apotheke, Walgreens Boots Alliance, Walmart, and Zur Rose Group | |
| Geographic Analysis | 7 Region and 30 Countries | |
Click Here to Download the Free Sample Report
Key Highlights Offered in the Report:
- The internet has revolutionized and changed customer lives, communication, and procurement practices and strategies in every market. This is applicable even in the global online pharmacy market. Major factors like increased access to the internet, rising target population, and growing awareness regarding self-health are driving the demand for online pharmacies across the globe.
- Increased health awareness & demand for self-medication, increased collaboration among stakeholders, rise in direct-to-patient drug sales are the factors expected to drive the online pharmacy market.
- The global online pharmacy market is trending in most of the developing and developed countries of North America and Europe. There is major growth potential for the market in the US, the UK, France, Germany, Italy, Spain, China, India, and Japan. The US in North America and Germany in Europe is the fastest-growing regional markets due to the high internet penetration and awareness regarding online OTC benefits.
- Online pharmacies are using competitive pricing by giving the same product at an equal or lesser price to acquire new customers and a bigger market share.
- The growth of OTC products is more compared to prescription medicines as the regulatory authorities and the government in many countries are not allowing online sales of prescription medicines.
- The rise of e-prescribing technology is expected to provide an opportunity for online pharmacy service providers to increase their customer base and service levels.
- The increasing internet and smartphone usage are expected to drive the growth of the North American online pharmacy market during the forecast period.
- E-commerce services, including online pharmacies, rely heavily on the internet for the profitability of their business. The growth of the online pharmacy market in North America is expected to be high due to the higher investments and sponsorships of online pharmacies in North American countries.
Key Offerings:
- Market Size & Forecast by Revenue | 2021−2027
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by medicine type, platform type, product type, and geography
- Competitive Landscape – 9 key vendors and 53 other vendors
Looking for more information? Click: https://www.arizton.com/market-reports/online-pharmacy-market-size-analysis
Online Pharmacy Market – Trends and Drivers
- Online pharmacies collaborate with medical technology, health technology, and health insurance companies to increase their reach and revenue. Medtech companies increase their presence in North America, Europe, and APAC countries.
- Online pharmacies have an opportunity to offer their online platform as advertising space on rent, which will allow different parties such as manufacturers, laboratories, clinics, and hospitals to promote themselves on these websites.
- Millennials are revolutionizing the online pharmacy customer trends in the market. The online pharmacy market is also evolving as per the needs of customers.
Online Pharmacy Market – Segmentation
Segmentation by Medicine Type
- OTC Products
- Prescription Medicines
Segmentation by Platform Type
- Mobile
- Desktop
Segmentation by Product Type
- Medication
- Health Wellness & Nutrition
- Personal Care & Essentials
- Others
Segmentation by Geography
- North America
- US
- Canada
- Europe
- EU5
- Germany
- UK
- France
- Italy
- Spain
- Central & Eastern Europe
- Poland
- Netherlands
- Russia
- Switzerland
- Czech Republic
- Hungary
- Nordic Countries
- Denmark
- Sweden
- Norway
- Finland
- Iceland
- APAC
- China
- Japan
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
Key Drivers and Trends Fueling Market Growth:
- 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 – Competitor Landscape
The rapid change in the technological environment such as internet penetration and devices used to access the internet will benefit vendors as these factors lead to higher online retail sales, which is expected to drive online pharmacy sales in Europe. The present scenario is driving vendors to change and refine their unique value proposition to achieve a strong market presence. However, local vendors provide products with similar specifications at lower prices. This has intensified price wars among vendors. Moreover, major vendors continually compete for a leading position in the market, with occasional spurts of competition coming from other local vendors. Existing online pharmacies should focus on increasing their investments in creating user-friendly technological platforms to boost their growth in the online pharmacy market.
KEY VENDORS
- Amazon Pharmacy
- Cigna (Express Scripts)
- CVS Health
- Giant Eagle
- Kroger
- Shop Apotheke
- Walgreens Boots Alliance
- Walmart
- Zur Rose Group
OTHER PROMINENT VENDORS
- Chemist Direct
- Medlife
- MonCoinSanté
- TATA 1mg
- AMX Holdings
- 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
Explore our health & wellness profile to know more about the industry.
Click Here to Download the Free Sample Report
Read some of the top-selling reports:
- Europe Online Pharmacy Market - Industry Outlook and Forecast 2020-2025
- U.S. Pharmacy Benefit Management Market - Industry Outlook and Forecast 2020-2025
- E-prescribing Market - Global Outlook and Forecast 2021-2026
- U.S. Online Pharmacy Market - Industry Outlook & Forecast 2021-2026
About Arizton:
Arizton Advisory and Intelligence is an innovation and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Call: +1-312-235-2040
+1 302 469 0707
