North America Dominates the ePharmacy Market

Mon, 25 May 2020 2:59

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, increasing geriatric population, and rising awareness about e-commerce drive the market growth. The market’s most prominent driver is the changing customer preference for online pharmaceutical platforms

Impact of COVID-19

Panic buying amidst the novel coronavirus outbreak is driving the ePharmacies 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 the market growth.

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Key Highlights

  • The ePharmacy market was valued at USD 49,990 million in 2019 and is expected to grow with a CAGR of 14.82% during the forecast study period.
  • The over the counter drug segment holds 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 ePharmacies market due to high internet penetration and increasing healthcare awareness.

Key Players

  • The Kroger Co.
  • Walgreen Co.
  • Wal-Mart Stores, Inc.
  • CVS Health
  • Express Scripts Holding Company
  • Giant Eagle, Inc.
  • DocMorris (Zur Rose Group AG)
  • Rowlands Pharmacy
  • 1mg
  • Netmeds
  • Medline Industries
  • OptumRx, Inc.

Key Development

  • In May 2019, CVS Pharmacy launched ‘Tested to Be Trusted,’ a program requiring third-party testing of all vitamins and supplements sold in-store and online to confirm the accuracy of the dietary ingredients listed on the supplement facts panel. To date, about 1,400 vitamins and supplements from 152 brands across 11 categories have been tested.

ePharmacy Market Segmentation

By Drug Type

  • Prescription drugs
  • Over the counter (OTC) drugs

By Product Type

  • Dental
  • Skincare
  • Vitamins
  • Cold and flu
  • Weight loss

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Central and South America and the Caribbean
  • The Middle-East and Africa

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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