ePharmacy Industry Overview
The global ePharmacy market size is expected to reach USD 249.9 billion by 2030 and is expected to grow at a CAGR of 19.5% over the forecast period, according to a new report by Grand View Research, Inc. Factors driving the adoption of ePharmacy include the improved access to online & web-based services, increasing awareness regarding e-commerce among consumers, rise in the number of internet users, and a surge in the aging population experiencing difficulty to visit pharmacies. In addition, benefits, such as affordability, convenience, and ease in the availability of medicines, are boosting the adoption of these platforms. High treatment costs are driving the demand for low-cost healthcare services, which, in turn, is bolstering the adoption of online pharmacies owing to the lucrative offers, such as price discounts, provided by them.
The COVID-19 pandemic has positively impacted the market growth and transformed the fortunes of ePharma companies owing to increasing consumer switch from traditional buying towards online purchases of general medications and medical devices, such as oximeters, thermometers, and health supplements. Moreover, the second wave of the Covid-19 epidemic has prompted a spike in demand for medical gadgets, personal protective equipment (PPE), as well as health supplements, and frequently accessible medications in the market.
ePharmacy Market Segmentation
Grand View Research has segmented the global ePharmacy market based on region:
ePharmacy Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- South Africa
- Saudi Arabia
Key Companies Profile & Market Share Insights
Key players implement various marketing strategies to gain a competitive edge and increase their share. In addition, the companies also implement strategies, such as mergers, acquisitions, and partnerships, for increasing their market share.
Some prominent players in the global ePharmacy market include:
- The Kroger Co.
- Walgreen Co.
- Giant Eagle, Inc.
- Walmart, Inc.
- Express Scripts Holding Company
- CVS Health
- Optum Rx, Inc.
- Rowlands Pharmacy
- DocMorris (Zur Rose Group AG)
Order a free sample PDF of the ePharmacy Market Intelligence Study, published by Grand View Research.