The scope of the global ePharmacy Market was appreciated at US$ 33.03 billion in 2016. The range is projected to touch US$ 109.2 billion by 2025, growing at a CAGR of 14.8% for the duration of the forecast.
This is attributed to the upsurge in pharmaceutical products’ sale through electronic media. The use of Internet has been increasing at an alarming rate in the present scenario. Besides, rise in geriatric population calls for availability of medicines at the doorstep. This is another factor bolstering the e-Pharma market.
The ePharmacy market is segmented based on mode and geography. By mode, it comprises direct and aggregator. By geography, the segmentation goes like North America (U.S., Mexico, and Canada), Europe (France, UK, Italy, Russia, Germany, and the rest of Europe), LATAM (Columbia, Argentina, Brazil, and the rest of LATAM), Asia Pacific (Japan, China, South Korea, Southeast Asia, India, and the rest of Asia Pacific), and MEA (Nigeria, Egypt, UAE, Saudi Arabia, and rest of MEA). North America leads the market; thanks to immediate adoption of advanced technology coupled with extensive spending on healthcare. Asia Pacific comes in second; with India being the torchbearer.
Indian market on the roll:
India is into rapid adoption of e-Commerce with improvement in digital payments’ infrastructure and mobile-first consumer behavior. Plus, government is increasingly focusing on quicker adoption of internet and healthcare spending. This is bound to not only add to the value for customers but also create loads of B2B opportunities henceforth. The verticals like fintech, consumer tech, e-Commerce, and hyperlocal space are looking upon e-Pharma as a promising investment in India as well as globally.
Indian players also have omnichannel presence; especially in the emerging tier-2 or tier-3 towns who are hands on with healthcare spending. This factor is also likely to boost the ePharmacy industry all over.
The players contributing to the ePharmacy market include Aurobindo Pharma, Doc Morris, Boehringer Ingelheim, AbbVie Contract Manufacturing, Express Scripts Holding Company, Walmart Stores, Inc., Pfizer Centre Source, Optum Rx, Inc., Walgreen Co., CVS Health, Inc., and Giant Eagle.
e-Pharma Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
• South Africa
Research Support Specialist, USA