E-pharmacy Market Share, Size, Trends, Industry Analysis Report By Drug Type (Prescription Drug, OTC Drug), By Product Type, By Payment Method, By Platform, By Regions; and Forecast, 2023-2032

E-pharmacy Market Share, Size, Trends, Industry Analysis Report By Drug Type (Prescription Drug, OTC Drug), By Product Type, By Payment Method, By Platform, By Regions; and Forecast, 2023-2032

The global e-pharmacy market size is expected treach USD 371.25 billion by 2032, according ta new study by Polaris Market Research. The report “E-pharmacy Market Share, Size, Trends, Industry Analysis Report By Drug Type (Prescription Drug, OTC Drug), By Product Type, By Payment Method, By Platform, By Regions; and Forecast, 2023-2032” gives a detailed insight intcurrent market dynamics and provides analysis on future market growth.

Easy ordering, high-quality services, availability of pharmaceuticals, and rising internet accessibility have changed customers' preferences in favor of e-pharmacy platforms. The global market is alsanticipated tbe driven by the huge rise in smartphone usage, which enables firms in the e-pharmacy sector tattract a wide spectrum of customers from established and emerging economies.

The e-pharmacy industry expanded significantly during COVID-19, especially in developing nations like India. The proliferation of e-pharmacy mobile applications that offer online drug delivery services results from regional lockdowns and movement limitations. Additionally, government actions encouraging digital technology tenhance drug access have positively impacted the expansion of the e-pharmacy sector. As a result, several industry companies engaged in the e-pharmacy business during the pandemic saw an increase in application subscribers.

E-pharmacy, commonly referred tas an internet pharmacy or an online pharmacy, is a digital platform where users can buy pharmaceuticals or other medications. The platform is made toffer online pharmacy services, such as the delivery of drugs. Refilling prescriptions and providing patients with over-the-counter and specialty medications are both made possible by e-pharmacies.

The availability of online pharmacies in developing countries has improved due ta significant increase in online service providers. Internet users have significantly increased in recent years, further fueling a high adoption rate. Therefore, the availability of a wide selection of pharmaceutical items and the simplicity with which internet pharmacies can be accessed via smartphones are key drivers fueling the expansion of the e-pharmacy market. Additionally, partnerships between producers and online pharmacies tincrease the accessibility of their products and the client base through online channels will spur market expansion during the forecast period.

The e-pharmacy market statistics will be driven by the availability of a variety of over-the-counter medications for various commonly occurring disorders like the flu and the common cold. Additionally, a favourable regulatory environment that encourages Rx tOTC conversion will improve segment revenue growth. The Consumer Healthcare Products Association claims that the conversion of prescription allergy medications tover-the-counter (OTC) medications results in increased consumer preference due tbetter accessibility and cost effectiveness. As a result, there will be more products available on the market as a result of the aforementioned considerations.

E-pharmacy Market Report Highlights

The online pharmacy market is divided intOTC and prescription drugs. The segment with the largest market share was OTC products, and in the upcoming years, that segment is anticipated tgrow significantly.

App-based and web-based E-pharmacies are dominating the E-pharmacy market because they offer convenience, accessibility, and personalized services tcustomers.

North America accounts for the majority of the market under investigation. This is primarily caused by the rising popularity of online services and the rise in internet users, which are expected thasten the market's expansion throughout the forecast year.

During the pandemic, there was a surge in demand for E-pharmacy services as people avoided visiting physical pharmacies due tconcerns about infection. The increased demand led tsignificant growth in the E-pharmacy market.

Polaris Market Research has segmented E-pharmacy Market report based on Drug Type, Product Type, Payment Method, Platform and Region:

E-pharmacy Market, Drug Type Outlook (Revenue - USD Billion, 2019-2032)

Prescription Drug

OTC Drug

E-pharmacy Market, Product Type Outlook (Revenue - USD Billion, 2019-2032)

Skin Care

Dental

Cold and Flu

Vitamins

Weight Loss

Other Product Types

E-pharmacy Market, Payment Method Outlook (Revenue - USD Billion, 2019-2032)

Cash On Delivery

Online Payment

E-pharmacy Market, Platform Outlook (Revenue - USD Billion, 2019-2032)

App Based

Web Based

E-pharmacy Market, Regional Outlook (Revenue - USD Billion, 2019-2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa