E-pharmacy Market revenue worth $206 Billion by 2028, Says Global Market Insights Inc.
SELBYVILLE, Del., Feb. 23, 2022 /PRNewswire/ — Global E-pharmacy market value is anticipated to cross USD 206 billion by 2028, according to a new research report by Global Market Insights Inc. Increasing adoption of digital technologies and e-commerce platforms in the pharmaceutical industry is anticipated to spur the market growth.
Increasing use of digital platforms by healthcare professionals as well as patients to broaden medicine accessibility will impel the e-pharmacy industry statistics. Entry of new players with focus on the development of digital health technologies further favors the industry growth. Additionally, increasing adoption of online platforms allow ease and convenience in prescription refills and medicine purchase.
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Prescription medicine segment is set to register 18.7% CAGR during the analysis timeframe. Development of online platforms allowing ease in the purchase of prescription medicines will expand the business size. Further, the introduction of favorable norms and criteria for repeat online prescription purchases will help e-pharmacies to increase their sales. As a result of increasing acceptance and usage of digital platforms, the segment is expected to grow at a rapid pace in the coming years.
Some major findings of the e-pharmacy market report include:
- Convenient doorstep delivery of medicines or pharmaceutical products will influence the adoption of e-pharmacy platforms.
- Consumer shift towards e-commerce for medicine purchasing is anticipated to augment the market share.
- Advantages including timely services and affordability with considerable discounts on product prices will benefit the adoption of online pharmacies.
- Expansion of e-pharmacy network across developing areas with high rate of internet penetration will contribute to the market expansion.
Browse key industry insights spread across 100 pages with 67 market data tables & 8 figures & charts from the report, “E-pharmacy Market Statistics By Product Type (OTC Products, Prescription Medicine), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/e-pharmacy-market
Asia Pacific e-pharmacy market held over 17% revenue share in 2021 and is anticipated to register a lucrative CAGR during the forecast timeframe. Increase in the use and accessibility of internet across the urban as well as rural area allowed internet pharmacies to broaden their business reach in the region. According to the report published by the IBEF, internet penetration rate in India has been increased from 4% in 2007 to 50.52% in 2019. Further, rising burden of chronic diseases among elderly population requiring long-term medication will boost the regional market statistics.
Major players operating in the e-pharmacy industry include The Kroger Co, The Walgreen Company, Express Scripts Holding, CVS Health, DocMorris, Giant Eagle, Wal-Mart Stores, OptumRx, PharmEasy, 1mg and Netmeds among other players. These players are broadening their market presence by adopting several strategies such as augmentation of their services, partnerships, and collaborations.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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SOURCE Global Market Insights Inc.
