The convenience of smartphones has made it easy for customers to call in for medicinal drugs. This is highly useful for people with disabilities, elderly, and patients unable to attain the required medicine in their neighborhoods. E-pharmacy or ePharmacy are pharmacies which accept orders online and deliver via mail or shipping companies. The global ePharmacy market report takes a look at the various policies governing sales, establishment of online companies, distribution agreements, and other factors for a specified period. The COVID-19 pandemic and its impact on the market has been included in the report.
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ePharmacy Market Scope
The global ePharmacy market is anticipated for a huge windfall owing to the convenience it offers to customers. The proliferation of smartphones and the Internet has made it possible for customers to procure medicines with ease. Slashed discounts on medicines and the aim to lower healthcare costs can propel the market growth. Availability of medicines, prevalence of chronic diseases, and popularity of online platforms can foster growth as well. Moreover, the surge in online platforms as well as change in shopping habits of consumers can elevate the prospects of the global ePharmacy market.
ePharmacy Market Segmentation
The global ePharmacy market report is segmented by drug type and product type.
By drug type, it is segmented into prescription drugs and over the counter drugs. The product types that are covered in the report are weight loss, skin care, dental, vitamins, cold and flu, and others.
ePharmacy Market Regional Analysis
All the segments covered in the report are sized by their potential in five major regions of Europe, North America, Latin America, Asia Pacific (APAC) and the Middle East and Africa (MEA), with respective country-level analysis.
North America and Europe are expected to be at the forefront of the industry with business models focusing on data science for aggregation of accurate customer insights. Efforts to modernized healthcare infrastructure, shift to digitization, and high data speeds are factors expected to drive regional growth for ePharmacies. Stimulus checks provided for unemployed citizens in the U.S. is also likely to ring in sales for the market as they procure medicines for enhancing immunity.
APAC and Latin America are economies with latent potential for the market. Mergers and acquisitions are on an upswing in India with online pharmacies rushing to gain market share. The effort by ePharmacies in providing services outside their core expertise such as online video consultation, patient management, and diagnostic consultation can bode well for the market. China and India are expected to contribute majorly to the APAC ePharmacy market. Large potential of the market as well as complemented by a large patient pool can lead to foreign investments.
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ePharmacy Market Competition Outlook
CVS Health, Giant Eagle, Inc., drugstore.com Inc., Sanicare AB, Secure Medical, Inc., Medisave, Walgreen Co., Canada Drugs, PlanetRx, The Kroger Co., Lloyds Pharmacy Ltd., Rowlands Pharmacy, Express Scripts Holding Company, DocMorris (Zur Rose Group AG), eDrugstore.com, Optum Rx, Inc., and Walmart Stores, Inc. are noteworthy players of the global ePharmacy market.
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