CRI Report has released a report titled “E-pharmacy Market – Analysis of Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2030” which is anticipated to reach USD 174.87 billion by 2030. According to CRI Report, the market is anticipated to portray a CAGR of 16.24% between 2020 and 2030. According to the report, high acceptance of e-commerce, increased online orders, growth in the elderly population, and rising implementation of e-prescriptions in hospitals and other healthcare services are all major factors driving the e-pharmacy market size. Furthermore, the recent outbreak of COVID-19 has had a significant impact on the use of online pharmacy sites, resulting in an increase in the size of the e-pharmacy industry.
The market report on global E-pharmacy Market includes in-depth insights as:
- The estimated value of the market was USD 56.9 billion in the year 2020.
- Global E-pharmacy in Europe held the largest market share in the year 2020.
- Global E-pharmacy market is segmented by type into Over the Counter Drugs and Prescription Drugs.
- Global E-pharmacy market is divided by-products into Skin Care, Dental, Cold & Flu, Weight Loss, and Others.
- Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.
“Some of the factors driving growth include increased internet penetration around the world, improved healthcare infrastructure, rapid population ageing, and increased consumer knowledge of e-commerce. One of the main factors driving market growth is a change in consumer behavior, with an increased demand for convenience. In addition, the growing use of ecommerce and digital technology in the healthcare industry is expected to boost growth”, according to this report
A pharmacy that operates over the internet and sends orders to customers by mail or shipping companies is known as an E-Pharmacy. The rise in the number of internet users expanded access to web-based and online resources, and the increasing use of e-prescriptions in hospitals and other healthcare settings are all contributing to the e-pharmacy market’s growth.
Global E-pharmacy market is segmented by type into Over the Counter Drugs and Prescription Drugs. In the year 2020, the Over the Counter Drugs segment dominated the industry. Over-the-counter medicines offer key medications for a wide variety of health problems, allowing patients to avoid hospital visits. As a result, increased public awareness and knowledge about primary opioid treatment would spur demand growth. With an increase in dermal OTC product sales, the segment will expand as the prevalence of various dermatological conditions rises. Furthermore, the availability of OTC drugs will continue to increase consumer demand, resulting in increased sales for the market.
Key Players in the Market
Some of the key players operating in the global E-pharmacy Market are 3M, ConvaTec Group Plc, Integra Lifesciences Holdings Corporation, Molnlycke Health Care AB, B. Braun Melsungen AG, Baxter International INC, Smith & Nephew Plc, Cardinal Health, Coloplast Corp., and other prominent players
Get Valuable Insights into Global E-pharmacy Market
In the new report, CRI Report thrives to present an unbiased analysis of the global E-pharmacy Market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2030. The study includes compelling insights into growth that is witnessed in the market. Global E-pharmacy market is segmented by type into Over the Counter Drugs and Prescription Drugs. Global E-pharmacy market is divided by-products into Skin Care, Dental, Cold & Flu, Weight Loss, and Others. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.
E-Pharmacy Market in India 2020