ePharmacy Market Poised to Reach USD 351.9 Billion by 2033 at a 14.3% of CAGR

The ePharmacy market is set for exponential growth, projected to expand at a robust compound annual growth rate (CAGR) of 14.3% to reach a market valuation of USD 351.9 billion by the end of 2033. This significant increase marks a substantial rise from the USD 81.5 billion recorded in 2022, driven by the accelerating adoption of digital platforms in the healthcare sector and increasing consumer preference for online pharmacy services.

ePharmacy, also known as online pharmacy or internet pharmacy, enables consumers to purchase medications and healthcare products through digital platforms. The convenience, accessibility, and affordability offered by ePharmacy solutions are transforming traditional pharmaceutical retailing models and enhancing patient healthcare experiences worldwide.

The market’s expansion is also supported by advancements in technology, regulatory developments, and shifts in consumer behavior toward digital health solutions. As the healthcare industry continues to evolve, ePharmacy is playing a pivotal role in improving medication adherence, enhancing patient outcomes, and transforming the delivery of pharmaceutical services globally.

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easing Furthermore, ePharmacy businesses offer prescription drugs at a lower cost than conventional brick-and-mortar pharmacies. Over the course of the projection period, the ePharmacy market is anticipated to grow at a rapid pace due to the growing investment in the healthcare sector by significant e-commerce companies. Because certain prescription prescriptions are not available at retail pharmacies, a significant portion of the global patient population opts for doorstep delivery of medical supplies. ePharmacies significantly reduce the need for elderly people and people with chronic illnesses to rely on outside parties to get their prescription medications and medical supplies. Similarly, it is anticipated that increased ePharmacy market sales will come from increased internet awareness and usage.

Competitive Landscape:

industry players are investigating a variety of growth tactics in an effort to obtain a competitive advantage and strengthen their positions in the industry. Growing customer needs are projected to drive considerable expansion in the global ePharmacy industry. Indirectly driving market expansion are online retail platforms’ convenient access to regulated prescription medications such analgesics, stimulants, and hypnotics that cause sedation.

Recent Market Developments

• In September 2022, a partnership was formed between Walmart Canada and Canada Health Infoway. In 14 Walmart Canada pharmacies, Infoway’s PrescribeIT computerized prescribing service is now available.
• In May 2020, Pharmeasy announced the acquisition of Medlife to broaden its product offerings and clientele in India. The company’s market presence has been expanded due to this acquisition, and sales have increased.

Similarly, recent developments have been tracked by the team at Future Market Insights related to companies in the ePharmacy market, which are available in the full report.

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Key Companies Profiled:

• Netmeds Marketplace Ltd.
• TEasyMedico
• Medlife
• Amazon. Inc
• Apotek
• The Kroger Co.
• Walgreen Co.
• Giant Eagle, Inc.
• Walmart
• Express Scripts
• CVS Health
• Optum, Inc.
• L Rowland & Co (Retail) Ltd
• Zur Rose Group AG
• McKesson Corporation
• SHOP-APOTHEKE EUROPE N.V.
• UK Meds Direct Ltd.
• Walgreens Boots Alliance, Inc.
• DocMorris

Key Segments Covered in ePharmacies Industry Research

By Product:

• Over the Counter Product
• Prescription Medicines

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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