E-pharmacy Market Analysis | CMI

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• Coherent Market Insights
• Market Research and Business Consulting Services
• https//www.coherentmarketinsights.com/
• COVID-19 Impact Tracker

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EPHARMACY MARKET ANALYSIS

• Epharmacy Market, By Drug class (Prescription
  Products, Over-the-Counter Products), and by
  Region (North America, Latin America, Europe,
  Asia Pacific, Middle East Africa) - Size,
  Share, Outlook, and Opportunity Analysis, 2020 -
  2027
• The global ePharmacy market is estimated to
  account for US 81.6 Bn in terms of value in 2020
  and is estimated to reach US 244.0 Bn by the end
  of 2027.

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Global ePharmacy Market Drivers

• Increasing adoption of Internet is expected to
  propel growth of the global ePharmacy market over
  the forecast period. For instance, according to
  Pew Research Center, the percentage of households
  with broadband connection in the U.S. increased
  from 68 in January 2018 to 77 in February 2019.
• Increasing geriatric population is also expected
  to aid in growth of the market. For instance,
  according to the U.S. Census Bureau, the U.S.
  geriatric population is expected to reach 77
  million by 2034.

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Statistics

• North America held dominant position in the
  global E-Pharmacy Market in 2019, accounting for
  35.9 share in terms of value, followed by Europe
  and Asia Pacific, respectively

Figure 1. Global ePharmacy Market Share (), by
Region, 2019
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Global ePharmacy Market Restraints

• Likely occurrences of substance abuse are
  expected to hinder growth of the global ePharmacy
  market. Easy availability of controlled
  prescription drugs such as stimulants,
  anxiolytics, narcotic painkillers, and sedative
  hypnotics through online retail platforms is
  indirectly resulting in increasing instances of
  substance abuse and has raised concerns for
  public health.
• Moreover, presence of a large number of rogue
  ePharmacies reduces customer trust, thereby
  hindering growth of the market. A large number of
  false ePharmacies or illegitimate ePharmacies
  have come into existence, which do not abide by
  the necessary safeguards. Such pharmacies provide
  medication without actual visits to the doctor
  and require neither prescriptions nor a medical
  history. As a result, there are increasing
  instances of falsified drug deliveries, which is
  hampering the trust of consumers on the
  desirability of purchasing their prescription
  drugs online.

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Global ePharmacy Market Opportunities

• Large untapped markets in Latin America are
  expected to offer lucrative growth opportunities
  for players in the market. Presently, Latin
  America and Middle East and Africa are the
  least-tapped markets for ePharmacy, owing to high
  presence of physical pharmacy stores and
  underdeveloped healthcare infrastructure in most
  countries in these regions. Countries such as
  Brazil, Uruguay, Chile, and Argentina are
  expected to show significant growth in the
  market.
• Moreover, increasing disposable income in Asia
  Pacific is also expected to display lucrative
  growth opportunity for players in the market. For
  instance, according to The Ministry of Statistics
  and Program Implementation, Government of India,
  disposable personal income in India increased to
  US 2,699,821.02 Million in 2019 from US
  2,517,856.54 Million in 2018.

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Figure 2. Global ePharmacy Market Value (US Bn),
and Y-o-Y Growth (), 2019-2027

• The global ePharmacy market was valued at US
  69.7 Bn in 2019 and is forecast to reach a value
  of US 244.0 Bn by 2027 at a CAGR of 17.0
  between 2020 and 2027.

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Market Trends/Key Takeaways

• Major players in the market are focused on
  offering various digital services. For instance,
  in February 2020, Ro, an ePharmacy, launched
  Health Guide, a new medical handbook for the
  internet.
• Major players in the market are also focused on
  investing in shop-in-shop pharmacies. For
  instance, in October 2019, Zur Rose Group AG
  partnered with Migros, a Switzerland-based retail
  company, to start the first shop-in-shop pharmacy
  in Switzerland.

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Global ePharmacy Market Competitive Landscape

• Major players operating in the global ePharmacy
  market include, CVS Caremark, Banner Health,
  DocMorris NV, Ro, Zur Rose Group AG, Right
  ePharmacy, PlanetRx.com.Inc., Lloyds Pharmacy
  Ltd., Dr. Fox Pharmacy, eDrugstore.MD, MediSave,
  Walgreen Co, and Rowlands Pharmacy.

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Key Developments

• Major players in the market are focused on
  adopting partnership and collaboration strategies
  to expand their product portfolio. For instance,
  in December 2019, DocMorris NV partnered with KRY
  International AB, a healthcare company, under
  which electronic prescription issued through KRY
  app can be redeemed at the DocMorris pharmacy or
  an on-site pharmacy.
• Major players in the market are also focused on
  adopting MA strategies to expand their product
  portfolio. For instance, in January 2019, Zur
  Rose Group AG announced the acquisition of
  e-commerce activities of medpex, an online
  pharmacy, which include, Comventure GmbH,
  Visionrunner GmbH, medpex wholesale GmbH, and
  Apotheke esando B.V.

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