E-pharmacy Market to Witness Unprecedented Growth By 2026

E-pharmacy Market
E-pharmacy Market

E-pharmacy refers to online platforms that provide pharmacy products to consumers at their doorstep. Consumers have to order their requirement by mobile application or website, and the online pharmacy company delivers their products at the given address. E-pharmacy is also called as internet pharmacy or mail-order pharmacy. E-pharmacy companies provide both over-the-counter (OTC) dugs and prescription drugs. For ordering prescription drugs, one has to upload its prescription online. Increasing internet penetration has supported growth of E-pharmacy market in the recent past and is expected to witness high growth in the near future. For instance, according to the data published by The World Bank, around 34.3% of total population were using internet in China in 2010 which has increased to 53.2% in 2016. E-pharmacy market in developed economies such as North America and Europe is well developed, however, the market in emerging economies such as India is at nascent stage, and growing rapidly.

Increasing investment by private players and initiatives taken by governments is expected to drive growth of the global e-pharmacy market

Key players in the market are majorly investing to scale-up online pharmacy business, which is projected to drive growth of the global e-pharmacy market in the near future. For instance, in 2017, Zur Rose AG, a Switzerland-based online pharmacy company, invested US$ 237 million to expand its business in Germany. Furthermore, initiatives taken by government to establish well developed online infrastructure and provide high speed internet connection is driving growth of the market. For instance, in 2015, Indian government launched Digital India program with the motto ‘Power to Empower’. Under this program, government aims to digitalize India by providing high-speed internet networks in rural areas. Such initiatives by Indian government is expected to positively affect the E-pharmacy market over the forecast period.

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Key players operating in the E-Pharmacy Market includes The Kroger Co., The Walgreen Company, Express Scripts Holding Company, CVS Health, Zur Rose Group AG, Giant Eagle, Inc., Walmart Stores, Inc., OptumRx Inc., 1mg, and Netmeds.