e-Pharmacy Market: Current Analysis and Forecast (2021-2027)

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Emphasis on Drug Type (Over-the-Counter (OTC) Drugs, Prescribed Drugs, Others), Product Type (Hair Care, Skin Care, Dental, Cold & Flu, Weight Management, Vitamins & Supplements, Toiletries, Electrical Medical Devices, Pet Medicines, Others); Platform (Business-to-Business (B2B), Business-to-Consumer (B2C); and Region & Country.

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118

Table:

55

Figure:

91

Report ID:

UMHE21311

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Report Description
Table of content
Research Methodology

Report Description

The e-Pharmacy is a type of pharmacy working across the internet and deliver drugs, medicines, and healthcare products to the consumers. With the help of e-pharmacy, patients can order the medicines using the internet & get them delivered at their doorsteps. The e-pharmacy offers many advantages such as convenience, time-saving, less price, range of choices, drug approval, and many others. For instance, in August 2020, Amazon launched its online pharmacy service, named “Amazon Pharmacy” for over-the-counter, prescription-based medicines and ayurvedic medicines in Bangalore, India. Moreover, the growing use of the internet & e-commerce podiums and direct-to-patient sales of medical products are also providing a boost to this market. According to the Mayo Clinic in August 2020, convenience was the most motivating factor for over 50% of people who used online pharmacies and 44% of customers said that a lower cost was their primary reason for choosing e-Pharmacies.

Moreover, the increasing cases of chronic diseases are adding pace to the growth of the e-pharmacy market. According to the Office of Disease Prevention and Health Promotion, more than 25 million people in the United States have asthma. And almost 14.8 million adults are diagnosed with COPD, and nearly 12 million people are not yet been diagnosed with respiratory diseases in 2020. Also, as per the American Cancer Society, in 2020, there were approximately 89,500 cancer cases diagnosed and about 9,270 cancer deaths in adolescents and young adults aged between 15 to 39 years in the US.  These increasing cases of chronic diseases are also boosting the e-pharmacy industry.

The covid-19 pandemic has impacted the e-Pharmacy market positively. For instance, according to the American Association of Homeopathic Pharmacists (AAHP), an act was passed, the Coronavirus Aid Relief and Economic Security (CARES) Act. This regulation was incorporated in the direction to encourage the consumers to depend more on over-the-counter products for relief of self-treatable symptoms, which can be reimbursed through pre-tax funds. Hence, with the increasing awareness of e-pharmacies, it is anticipated that these initiatives from the government are expected to boost the adoption of e-pharmacy services for the purchasing of the drugs without hassle in the United States market. Also, according to the Hindu news of India in September 2019, the e-pharmacies offer drugs cheaper by about 30-40%, or even higher in some cases, as they can cut down costs in supply chain management and inventory management.

Value Chain of e-Pharmacy Market

CVS Health Corporation, DocMorris NV, Express Scripts Holding Company, Walgreen Co., The Kroger Co., Rowlands Pharmacy (Phoenix Group), Giant Eagle, Inc., Walmart Inc., OptumRx, Inc., Lloyds Pharmacy Limited are some of the prominent players operating in the e-Pharmacy market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst Drug Type, Over the Counter (OTC) Drug’s segment holds the major share”

Based on drug type, the market is bifurcated into over-the-counter (OTC) drugs, prescribed drugs, and others. The over-the-counter (OTC) drugs segment grabbed the major market in 2020 as OTC refers to a class of medication that can be sold without the need for a prescription and anyone can easily buy medicines with just a click. Moreover, according to Statista, the total sales value of over-the-counter (OTC) drugs in Great Britain amounted to 3.65 billion USD in 2020.

“Amongst Product type, Skin Care segment is anticipated to grow at the highest CAGR during the analyzed period”

Based on product type, the market is bifurcated into hair care, skin care, dental, cold and flu, weight management, vitamins & supplements, toiletries, electrical medical devices, pet medicines, and others. The skin care segment ruled the major market and accounted for the maximum share in 2020. The rising awareness about the various benefits of using skin care products has resulted in rising demand over the last few years. This has also boosted the demand for natural and organic skincare products, making it a major segment in this market.

“Amongst Platform, Business-to-Consumer (B2C) segment holds the major share”

Based on platform, the market is bifurcated into business-to-business (B2B) and business-to-consumer (B2C). The business-to-consumer (B2C) segment grabbed the major market in 2020 and accounted for the maximum revenue during the forecast period. The e-pharmacies works on the collaboration with key companies and provide survives direct to consumers and that is why providing medicines at lesser prices is the major factor driving the growth of this segment.

“North America signifies one of the largest markets of the e-Pharmacy market”

For a better understanding of the market dynamics of the Ventricular assist devices market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), GCC (Saudi Arabia, UAE, Kuwait, Bahrain, Qatar, Oman), Rest of World. North America constitutes a major market for e-Pharmacy and generated maximum revenue in 2020 owing to the high government funding, robust personal healthcare spending, developed awareness programs, rapid acceptance of new analytical techniques, and the presence of skilled workforces.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

Customization Options:

The e-Pharmacy Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

1.1Market Definitions  
1.2Objective of the Study 
1.3Limitation  
1.4Stake Holders  
1.5Currency Used in Report 
1.6Scope of the Global e-Pharmacy Market Study
2.1Research Methodology for the Global e-Pharmacy Market
 2.1.1Main Objective of the Global e-Pharmacy Market
3MARKET SYNOPSIS
5TOP START-UPs UNDER e-PHARMACY INDUSTRY
6COVID-19 IMPACT
7GLOBAL e-PHARMACY MARKET REVENUE
8.1Over the counter (OTC) Drugs
8.2Prescribed Drugs 
8.3Others  
9.1Hair Care  
9.2Skin Care  
9.3Dental  
9.4Cold and Flu 
9.5Weight Management
9.6Vitamins & Supplements
9.7Toiletries  
9.8Electrical Medical Devices
9.9Pet Medicines 
9.1Others  
10.1Business-to-Business (B2B)
10.2Business-to-Consumer (B2C)
11.1NORTH AMERICA e-PHARMACY MARKET 
 11.1.1United States 
 11.1.2Canada  
 11.1.3Rest of North America
11.2EUROPE e-PHARMACY MARKET 
 11.2.1Germany  
 11.2.2France  
 11.2.3United Kingdom 
 11.2.4Spain  
 11.2.5Italy  
 11.2.6Rest of Europe 
11.3ASIA PACIFIC e-PHARMACY MARKET
 11.3.1China  
 11.3.2Japan  
 11.3.3India  
 11.3.4Australia  
 11.3.5South Korea 
 11.3.6Rest of Asia Pacific 
11.4GCC e-PHARMACY MARKET 
 11.4.1Saudi Arabia 
 11.4.2UAE  
 11.4.3Kuwait  
 11.4.4Bahrain  
 11.4.5Qatar  
 11.4.6Oman  
11.5REST OF THE WORLD e-PHARMACY MARKET
12.1Market Drivers 
12.2Market Challenges
12.3Impact Analysis
13LEGAL & REGULATORY FRAMEWORK
14.1Demand Side Analysis 
14.2Supply Side Analysis 
 14.2.1Top Product Launches
 14.2.2Top Business Partnerships
 14.2.3Top Merger & Acquisitions
15VALUE CHAIN ANALYSIS
16e-PHARMACY MARKET OPPORTUNITIES
17e-PHARMACY MARKET TRENDS & INSIGHTS
18.1Porter’s Five forces analysis 
 18.1.1Bargaining power of Supplier
 18.1.2Bargaining power of Buyer
 18.1.3Industry Rivalry 
 18.1.4Availability of Substitute
 18.1.5Threat of new Entrants
19.1CVS Health Corporation  
 19.1.1Key Facts  
 19.1.2Business Description
 19.1.3Key Product/Services Offerings
 19.1.4Growth Strategy 
 19.1.5SWOT Analysis 
 19.1.6Key Financials 
  19.1.6.1Revenue Split
  19.1.6.2Financial Overview of CVS Health Corporation 
 19.1.7Recent Developments
  19.1.7.1Product Launch
  19.1.7.2Partnerships
  19.1.7.3Business Expansion and Investments
  19.1.7.4Merger and Acquisition
19.2Becton, Dickinson and Company
19.3Danaher Corporation 
19.4General Electric Company 
19.5Bio-Rad Laboratories 
19.6NanoString Technologies 
19.710x Genomics  
19.8Luminex Corporation 
19.9Menarini Silicon Biosystems 
19.1QIAGEN   
20DISCLAIMER

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global e-Pharmacy Market were the three major steps undertaken to create and analyze the adoption of e-Pharmacy in different segments across major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the e-pharmacy sector. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the e-Pharmacy through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the e-pharmacy market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments for major regions. Major segments included in the report are drug type, product type, and platform. Further country-level analyses were conducted to evaluate the overall adoption of e-pharmacy in every region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of e-pharmacy. Further, we conducted factor analysis using dependent and independent variables such as increasing implementation of telemedicine & e-prescriptions and the growing use of internet and e-commerce podiums will upsurge the demand for e-pharmacy. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the e-pharmacy industry across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the e-pharmacy market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (USD) and the adoption rate of e-pharmacy across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the e-pharmacy market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the e-pharmacy market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of drug type, product type, and platform of the e-pharmacy market.

Main Objective of the e-Pharmacy market Study

The current & future market trends of e-pharmacy were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of e-pharmacy in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of drug type, product type, and platform
  • Define and analysis of the regulatory framework for the e-pharmacy industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the e-pharmacy market for the major region
  • Major regions studied in the report include North America (the United States and Canada), Europe (Germany, France, Italy, Spain, and United Kingdom), Asia-Pacific (China, Japan, India, and Australia), GCC (Saudi Arabia, UAE, Kuwait, Bahrain, Qatar, Oman), and Rest of the World
  • Company profiles of the e-pharmacy market and the growth strategies adopted by the market players to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry