Online Pharmacy Market:
The latest report WiseGuy states that the European online pharmacy market is expected to grow at a sizeable rate in the coming future. The study analyses the various market trends, future projections for the market and the segregation of the market on the basis of various relevant segments and which segment is expected to perform well. It also includes various factors which are likely to influence the European online pharmacy market positively and negatively. The European online pharmacy market is supposed to cater to the consumers’ needs that require better access to medicines.
There is a mounting occurrence of chronic diseases globally which promotes the growth of European online pharmacy market. Increase in healthcare awareness among consumers and recognition of healthcare as a human right also contributes to the spike in the market. The advancements in digital technology have also spurred the European online pharmacy market. The increasing reliance of consumers on online services owing to the convenience factor also encourages the magnification of the European online pharmacy market. The launch of e-prescription has also facilitates the sales of online medicines and contributes to the growth of the market.
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There is also a lot of resistance from consumers to get their medicines from an unverified online source due to rampant stereotype of fake online stores which could impede the growth of the European online pharmacy market. Healthcare sector in general requires a huge amount of investments in technological and pharmaceutical advancements to progress and that could also hinder the growth of the sector. Also, healthcare market also has to go through a lot of regulations from the government which could obstruct the European online pharmacy market.
Company Analysis – Zur Rose, Shop Apotheke, Medikamente- per-klick, Apotea.se, Apotal.de
The market is segmented on the basis of drug type and product type. The European online pharmacy market is segmented based on drug type as: prescription drugs and over the counter drugs. The over the counter medicines dominated the e-pharmacy industry in the year 2018. However, the prescription medicines is expected to grow at a higher rate as compared to the previous year. The European online pharmacy market is also segmented based on product type as: skin care, dental, cold and flu, vitamins, weight loss and other product types.
Geographically, the European online pharmacy market is segmented as: Western Europe and Eastern Europe. Western Europe is further divided into countries like Germany, UK, Italy, France and others while Eastern Europe is divided into countries like Russia, Bulgaria, Greece and others. From an economic perspective, Western Europe is more prosperous than Eastern Europe and hence takes the major stake of the European online pharmacy market owing to its availability of disposable income, increased investments in health care, rising geriatric population and government support to pharmaceuticals.
January 2019: Zur Rose group successfully completed acquiring e-commerce activities of Germany’s third largest online pharmacy Medpex. This move is seen to have been in light of the increasingly significant market of e-pharmacy services.
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