Online Pharmacy Market Strategy, Regional Analysis and Growth F

  • Online Pharmacy Market 2021

    Global online pharmacy (E-Pharma) market is expected to reach US$ 150,891.1 million by 2027, growing at an estimated CAGR of 14.8% over the forecast period as they make the life of patients simpler

    Online pharmacies tend to provide services that help patients comply with their drug therapies. Customers can choose to use refill reminders that notify them via e-mail when it is time to refill or renew prescriptions. The provision of e-mail reminders offers a low-cost scalable approach towards addressing the problem of medication non-compliance. This enables the consumers to make informed decisions and save money. Also, the penetration of new entrants has made the overall online pharmacy market fragmented in nature. Major factors driving the growth of online pharmacies includes the convenience and privacy of this new channel. Patients with limited mobility or living far from the pharmacy tend to benefit tremendously from legitimate internet pharmacies. Owing to attractive advertisement campaigns of pharmaceutical companies on television in the press and low cost products, consumers find the aforementioned option to be more beneficial. However, risk associated with counterfeit prescription drugs is expected to critically impact the overall market growth. Technological advancements such as electronic prescription methods coupled with barcode medication identification is expected to propel the global online pharmacy (E-Pharma) market in the future years.


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    Major Key Players:

    Prominent players operating in the global online pharmacy (E-Pharma) market include Lloyds Pharmacy Limited, The Walgreen Company, CVS Health, OptumRx, The Kroger Co., and Netmeds amongst others

    Key Findings of the Report:

    Global online pharmacy (E-Pharma) market is expected to reach US$ 150,891.1 million by 2027 owing rising internet accessibility and increasing economic growth

    The prescription drugs segments is anticipated to witness considerable growth in the future years owing to increasing demand for e-prescriptions and strict regulatory compliances.

    A company named The Swiss Online pharmacy (E-Pharma) is engaged in providing both branded and branded medications, hair loss remedies and weight loss pills. The sale of low cost generic medications has increased the demand for these medications all the more among consumers. Manufacturers that provide generic medication products are Finax, Finast, Fincar amongst others.

    The Swiss Online pharmacy (E-Pharma) works directly with manufacturers of pharmaceutical products and is also a wholesaler for hospitals and other online pharmacies.

    North America held the largest share in 2018 and is expected to continue the same trend over the forecast period. Rising adoption of online services amongst the regional population has assisted the growth of North America online pharmacy (E-Pharma) market. Established high street pharmacies such as Lloyds have a strong presence online, but consumers are increasingly familiar with companies that operates only online such as PillTime.

    Market Segmentation

    By Product Category

    Prescription Drugs

    Over-the-counter Drugs (OTC)

     

    By Product Type

    Synthetic

    Natural

    By Product Delivery Mode

    In-store

    Home Delivery

    By Application

    Hair

    Skin Care

    Weight Management

    Others (Sexual Health, Allergies Etc.)

    By Geography

    North America

    U.S.

    Canada

    Mexico

    Rest of North America

    Europe

    France

    The UK

    Spain

    Germany

    Italy

    Nordic Countries

    Denmark

    Finland

    Iceland

    Norway

    Sweden

    Benelux Union

    Belgium

    The Netherlands

    Luxemburg

    Rest of Europe

    Asia Pacific

    China

    Japan

    India

    New Zealand

    Australia

    South Korea

    Southeast Asia

    Indonesia

    Thailand

    Malaysia

    Singapore

    Rest of Southeast Asia

    Rest of Asia Pacific

    Middle East & Africa

    Saudi Arabia

    UAE

    Egypt

    Kuwait

    South Africa

    Rest of Middle East & Africa

    Latin America

    Brazil

    Argentina

    Rest of Latin America


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