North America Dominates the ePharmacy Market

Introduction

Online pharmacy is an internet retailer platform that offers prescribed medicines, OTC medications, and dietary supplements. They offer better prices than offline shops, with easier availability, faster delivery, and greater customer confidentiality. Rising internet penetration, enhanced healthcare facilities, an increasing geriatric population, and rising awareness about e-commerce drive market growth. The market’s most prominent driver is the changing customer preference for online pharmaceutical platforms. 

Panic buying amidst the novel coronavirus outbreak is driving the e-pharmacy market. While most offline pharmacies and medical stores continue to function amidst the countrywide lockdown, many consumers have switched to buying medicines online due to the fear of getting affected by the virus, further driving market growth.

Key Highlights

• The e-pharmacy market was valued at USD 49,990 million in 2019 and is expected to grow at a CAGR of 14.82% during the forecast study period.
• The over-the-counter drug segment held the largest market share during the forecast study period. The key factors propelling the development of this segment are easy availability, self-reliance in relieving minor symptoms, and instant relief.
• North America dominates the e-pharmacy market due to high internet penetration and increasing healthcare awareness.

Competitive Players

1. CVS Health Corporation
2. Cigna Corporation (Express Scripts Holdings)
3. Giant Eagle Inc.
4. Optum Rx Inc.
5. The Kroger Co.
6. Walgreen Boots Alliance (Walgreen Co.)
7. Amazon.com Inc.
8. Axelia Solutions (Pharmeasy)
9. Apex Healthcare Berhad (Apex Pharmacy)
10. Apollo Pharmacy
11. DocMorris (Zur Rose Group AG)
12. Netmeds.com

Recent Developments

Recent Developments

• 2022- CVS Health Corporation announced the launch of CVS Health Virtual Primary Care™, a new virtual care solution available through a single digital platform.
• 2022- Optum Rx Inc. announced the launch of Optum^® Specialty Fusion™, a first-of-its-kind specialty medication management solution to simplify care for patients with complex conditions and lower the cost of expensive specialty drugs.
• 2022- Optum Rx Inc. merged with LCH Group.

Segmentation

1. By Product Type
   1. Prescription Drugs
   2. Over-the-Counter (OTC) Drugs
2. By Drug Type
   1. Skin Care
   2. Dental
   3. Cold and Flu
   4. Vitamins
   5. Weight Loss
   6. Others