Asia-Pacific E-Pharmacy Market Outlook, 2028

Asia-Pacific E-Pharmacy Market Outlook, 2028

Asia Pacific has a significant mobile-first population, with a high proportion of smartphone users. E-pharmacy platforms recognize this trend and priorities mobile app development and optimization. Mobile apps allow users to browse and order medications on their smartphones, providing a user-friendly and on-the-go experience. Furthermore, e-pharmacy culture in Asia and the Pacific is closely intertwined with the prevalence of mobile health apps. These apps provide a platform for users to manage their healthcare needs, including ordering medications, scheduling medication reminders, tracking health metrics, and accessing health records. Mobile health apps have become an integral part of the e-pharmacy culture, enabling individuals to take control of their health through their smartphones. In addition, the e-pharmacy culture in Asia and the Pacific is supported by the widespread adoption of digital payment systems. Many e-pharmacy platforms offer a variety of payment options, including digital wallets, online banking, and payment gateways, facilitating seamless transactions. The convenience and security of digital payments have contributed to the growth of e-pharmacy in the region. Furthermore, pharmacy platforms in Asia-Pacific leverage the power of social media to engage with their customers. They maintain active social media profiles and utilize platforms like Facebook, Instagram, and Twitter to share health tips, product information, and promotions. Social media presence allows e-pharmacies to connect with their audience, build a community, and foster engagement around healthcare topics.

According to the research report, “Asia-Pacific E-Pharmacy Market Outlook, 2028” published by Bonafide Research, the market is expected to grow with 18.08% CAGR by 2023-28. E-pharmacy platforms in Asia-Pacific are expanding beyond medication delivery to serve as comprehensive online healthcare marketplaces. These marketplaces offer a wide range of healthcare products and services, including doctor consultations, diagnostic tests, and home healthcare equipment. By diversifying their offerings, e-pharmacy platforms are becoming integrated healthcare hubs. Furthermore, the integration of IoT devices with e-pharmacy platforms is gaining traction in the Asia-Pacific region. IoT-enabled devices such as smart pill dispensers, wearable health monitors, and connected medical devices are being utilized to monitor patient health, improve medication adherence, and enable remote healthcare monitoring. Moreover, AI-powered algorithms and machine learning are being employed in the Asia-Pacific e-pharmacy market to assist in diagnosis, treatment recommendations, and medication management. AI-based systems can analyze large amounts of medical data, identify patterns, and provide personalized healthcare insights to users. In addition, e-pharmacy platforms in Asia Pacific are implementing advanced supply chain management systems to ensure timely delivery and efficient inventory management. They are utilizing technologies such as predictive analytics, RFID (radio-frequency identification), and automation to optimize supply chain processes, minimize stakeouts, and reduce delivery lead times.

Based on the report, the market is segmented into four major countries, including China, Japan, India, and Australia. Among them, China will dominate the market with around 35% market share in 2022. China has the largest population in the world, with over 1.4 billion people. This large consumer base presents a significant opportunity for e-pharmacy platforms to reach a wide audience and cater to the growing demand for convenient healthcare solutions. Furthermore, China is home to several leading e-pharmacy platforms, such as Dingdang Medicine Express, AliHealth, and JD Health. These platforms have invested heavily in technology, supply chain management, and customer service to provide a seamless and comprehensive healthcare experience for consumers. Moreover, e-pharmacy platforms in China have successfully integrated online and offline channels through the O2O model. They have established partnerships with physical pharmacies, allowing customers to order medications online and pick them up from nearby brick-and-mortar locations. This integration provides a seamless and convenient experience for consumers. In addition, India is expected to have the highest CAGR of 21.45% during the forecast period. Furthermore, e-pharmacy platforms in India are expanding their operations beyond metropolitan cities to reach Tier 2 and Tier 3 cities. They are focusing on establishing a strong presence in these regions to cater to the healthcare needs of individuals residing in smaller cities and towns. Moreover, the Indian government has shown support for e-pharmacy by introducing guidelines and regulations to govern the sector. In 2020, the Ministry of Health and Family Welfare released the draught rules for e-pharmacies, providing a regulatory framework to ensure the safety, authenticity, and quality of medications sold online.

E-pharmacy platforms often provide competitive pricing for prescription drugs, offering cost savings to consumers. They may offer discounts, promotional offers, or bulk purchase options, making medications more affordable for individuals in need of long-term treatment or expensive medications. This segment of the market is expected to dominate in 2022. Furthermore, e-pharmacy platforms allow users to upload their digital prescriptions directly on the platform. This feature eliminates the need for physical prescriptions and enables a seamless ordering process for prescription drugs. It also reduces the risk of errors associated with manual prescription handling. In addition, many e-pharmacy platforms offer online doctor consultations, allowing individuals to receive prescriptions remotely. Through secure video calls or chat platforms, users can consult with licensed healthcare professionals who can assess their medical condition, provide diagnoses, and prescribe the necessary medications. In addition, e-pharmacy platforms in the Asia-Pacific region offer a diverse range of over-the-counter drugs. This includes common medications for pain relief, cough and cold, allergies, gastrointestinal issues, skincare, vitamins, and more. Users have access to a comprehensive selection of OTC products for various health concerns.

Based on the product types in the Asia Pacific E-Pharmacy market, diabetes care products play a crucial role in managing diabetes, a chronic condition affecting a significant population in the Asia Pacific region. E-pharmacy platforms offer a wide range of diabetes care products, including blood glucose meters, test strips, insulin, oral medications, lancets, and diabetic-friendly food items. These platforms provide convenient access to essential supplies for diabetes management. Furthermore, e-pharmacy platforms provide easy access to essential ENT products, ensuring individuals can manage common eye or ear conditions, maintain oral health, and address specific concerns related to these areas. They may also offer online consultations with ophthalmologists, audiologists, or dentists to provide expert advice and recommendations. In addition, orthopaedic products cater to the musculoskeletal system, including muscles, bones, and joints. E-pharmacy platforms in the Asia-Pacific region offer a variety of orthopaedic products such as braces, splints, support belts, hot and cold packs, joint supplements, and pain relief medications.

Based in India, PharmEasy is one of the largest and most popular e-pharmacies in the country. It offers a wide range of medicines, healthcare products, and wellness items. Customers can order medicines online through their website or mobile app, upload prescriptions, and get them delivered to their doorstep. PharmEasy also provides attractive discounts and offers, making it a preferred choice for many customers. Furthermore, Grab, a Southeast Asian ride-hailing and delivery services company, has expanded its offerings to include GrabHealth. It provides e-pharmacy services in select Southeast Asian countries like Singapore, Malaysia, and the Philippines. Through the Grab app, users can order prescription medicines and over-the-counter products. GrabHealth ensures convenient delivery and offers various payment options. In addition, Guardian is a popular e-pharmacy and retail chain that operates in multiple countries across the Asia-Pacific region, including Singapore, Malaysia, and Vietnam. Customers can order a wide range of medicines, personal care products, vitamins, and supplements through the Guardian website or mobile app. Guardian also offers loyalty programs and exclusive discounts to its customers.

Major Companies present in the market:
Amazon.Com, Inc., Walmart Inc., Apollo Hospitals Enterprise Limited, Chemist Warehouse Group, Tata Digital Limited, JD Health International Inc.

Considered in this report
• Geography: Asia Pacific
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Countries covered in the report:
• Germany
• United Kingdom
• France
• Italy
• Spain
• Russia

Aspects covered in this report
• Asia pacific E-Pharmacy market with its value and forecast along with its segments
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Drug Type
• Prescription drug
• Over-the-counter drug

By Product Type Channel
• Skin Care (Skin diseases & skin injuries)
• Allergy & food intolerance, Stomach, Intestines & Digestion
• Diabetes Care
• Heart care, circulation & veins, BP, cholesterol
• Orthopedic (muscles, bones, joints)
• Urology (Bladder, Kidney & Prostate)
• Animal pharmacy
• Naturopathy
• ENT (Eyes, ears, Tooth & Mouth)
• Cold flu
• vitamins & minerals
• Cosmetics
• Painkiller
• Others (gynec, Calm down, sleep & stress, sexuality, Lose weight, Diet & Lifestyle, Self-tests & everyday aids, smoking cessation)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to ready to E-Pharmacy industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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