Online Pharmacy Market - Global Outlook & Forecast 2022-2027
Description
Online Pharmacy Market - Global Outlook & Forecast 2022-2027
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Online Pharmacy Market Report
The favorable regulatory framework, product innovations, high penetration in the emerging market, and growing pharmaceutical companies toward OTC drugs from Rx drugs are among the top trends driving the global online pharmacy market growth.
Online pharmacy companies use competitive pricing by providing the same product at an equal or lesser price to acquire new customers and a larger market share. Online pharmacies also have an opportunity to present their online platform as advertising space on rent, allowing different parties such as manufacturers, laboratories, clinics, hospitals to do their promotion on these websites. This is an excellent source for generating revenue.
The online pharmacy market is expected to grow at a CAGR of 17.26% during the forecast period
COVID-19 IMPACT
With the COVID-19 pandemic gripping the globe and social distancing being the popular mode of operation, Internet sales of medicinal items such as face masks, hand sanitizers, and anti-bacterial shot up by more than 800% over the past year. Moreover, with policymakers enforcing travel bans and lockdowns or staying-at-home initiatives, consumers are taking advantage of the ability to buy OTC medications. online pharmacies have also eased the delivery of basic necessities and have driven the demand for other businesses as well.
MARKET GROWTH & TRENDS
In 2021, the OTC segment dominated the global online pharmacy market with a share of over 54%
The increasing proliferation of e-prescriptions will help the prescription medicine segment gain market share during the forecast period 2021−2027.
Medications include the regular purchase of medicines and refilling prescriptions. This segment accounted for a major share in the market due to various reasons like an increase in the target population and the rising prevalence of patients suffering from chronic conditions like diabetes, cancer, hypertension, and other cardiac-related conditions that require constant medications.
GEOGRAPHICAL OUTLOOK
Online pharmacy platforms are simple and convenient because they reduce the effort required to go to the pharmacy and help consumers know about the availability of over-the-counter products and medicines.
The convenience and easy access to products through online pharmacy services is expected to increase the online customer base and contribute to the growth of the North American online pharmacy market during the forecast period.
VENDOR LANDSCAPE
The major players in the industry are Amazon Pharmacy, Cigna (Express Scripts), CVS Health, Giant Eagle, Kroger, Shop Apotheke, Walgreens Boots Alliance, Walmart, and Zur Rose Group.
New players like Amazon are entering the US market by acquiring the online pharmacy channel of major players.
THE REPORT INCLUDES:
1. The analysis of the Global Online Pharmacy Market provides market size and growth rate for the forecast period 2022-2027.
2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the Online Pharmacy Market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of the global Online Pharmacy Market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and critical market strategies to gain competitive advantage.
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Online Pharmacy Market Report
The favorable regulatory framework, product innovations, high penetration in the emerging market, and growing pharmaceutical companies toward OTC drugs from Rx drugs are among the top trends driving the global online pharmacy market growth.
Online pharmacy companies use competitive pricing by providing the same product at an equal or lesser price to acquire new customers and a larger market share. Online pharmacies also have an opportunity to present their online platform as advertising space on rent, allowing different parties such as manufacturers, laboratories, clinics, hospitals to do their promotion on these websites. This is an excellent source for generating revenue.
The online pharmacy market is expected to grow at a CAGR of 17.26% during the forecast period
COVID-19 IMPACT
With the COVID-19 pandemic gripping the globe and social distancing being the popular mode of operation, Internet sales of medicinal items such as face masks, hand sanitizers, and anti-bacterial shot up by more than 800% over the past year. Moreover, with policymakers enforcing travel bans and lockdowns or staying-at-home initiatives, consumers are taking advantage of the ability to buy OTC medications. online pharmacies have also eased the delivery of basic necessities and have driven the demand for other businesses as well.
MARKET GROWTH & TRENDS
- Increase in Health Awareness & Demand for Self-medication
- Increased Collaboration Among Stakeholders
- Competitive Price Heavy Promotion & Different Business Models
- Rise in Direct to Patient Drug Sales
- Rising Implementation of E-Prescriptions in Hospitals and Other Healthcare Services
- Improving Online Payment
In 2021, the OTC segment dominated the global online pharmacy market with a share of over 54%
The increasing proliferation of e-prescriptions will help the prescription medicine segment gain market share during the forecast period 2021−2027.
Medications include the regular purchase of medicines and refilling prescriptions. This segment accounted for a major share in the market due to various reasons like an increase in the target population and the rising prevalence of patients suffering from chronic conditions like diabetes, cancer, hypertension, and other cardiac-related conditions that require constant medications.
GEOGRAPHICAL OUTLOOK
Online pharmacy platforms are simple and convenient because they reduce the effort required to go to the pharmacy and help consumers know about the availability of over-the-counter products and medicines.
The convenience and easy access to products through online pharmacy services is expected to increase the online customer base and contribute to the growth of the North American online pharmacy market during the forecast period.
VENDOR LANDSCAPE
The major players in the industry are Amazon Pharmacy, Cigna (Express Scripts), CVS Health, Giant Eagle, Kroger, Shop Apotheke, Walgreens Boots Alliance, Walmart, and Zur Rose Group.
New players like Amazon are entering the US market by acquiring the online pharmacy channel of major players.
THE REPORT INCLUDES:
1. The analysis of the Global Online Pharmacy Market provides market size and growth rate for the forecast period 2022-2027.
2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the Online Pharmacy Market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of the global Online Pharmacy Market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and critical market strategies to gain competitive advantage.
Table of Contents
351 Pages
- 1 Research Methodology
- 2 Research Objectives
- 3 Research Process
- 4 Scope & Coverage
- 4.1 Market Definition
- 4.1.1 Inclusions
- 4.1.2 Exclusions
- 4.1.3 Market Estimation Caveats
- 4.2 Base Year
- 4.3 Scope of The Study
- 4.3.1 Market Segmentation by Medicine Type
- 4.3.2 Market Segmentation by Platform Type
- 4.3.3 Market Segmentation by Product Type
- 4.3.4 Market Segmentation by Geography
- 5 Report Assumptions & Caveats
- 5.1 Key Caveats
- 5.2 Currency Conversion
- 5.3 Market Derivation
- 6 Market at a Glance
- 7 Introduction
- 7.1 Overview
- 7.2 Impact of Covid 19
- 7.2.1 Impact on Online Pharmacy Market
- 8 Market Opportunities & Trends
- 8.1 Increased Health Awareness & Demand for Self-Medication
- 8.2 Increased Collaboration Among Stakeholders
- 8.3 Competitive Price, Heavy Promotion & Different Business Models
- 8.4 Rise in Direct-To-Patient Drug Sales
- 9 Market Growth Enablers
- 9.1 Rising Implementation Of E-Prescriptions in Hospitals & Healthcare Services
- 9.2 Improving Online Payments
- 9.3 Increase in Chronic Diseases & Aging Population
- 9.4 Increase in Teleconsultation & Diagnostic Support
- 10 Market Restraints
- 10.1 Low Penetration in Rural Areas of Developing Countries
- 10.2 Baby Boomer Population New to Internet Usage
- 10.3 Strict Regulatory Frameworks to Curb Illegal Online Pharmacy Practices
- 10.4 Stiff Competition & Low Profit Margins Due to Discounts
- 10.5 Sale of Unapproved Drugs & Opioids
- 11 Market Landscape
- 11.1 Market Overview
- 11.2 Market Size & Forecast
- 11.2.1 Market Share by Medicine Type
- 11.2.2 Market Share by Platform Type
- 11.2.3 Market Share by Product Type
- 11.2.4 Market by Geography
- 11.3 Five Forces Analysis
- 11.3.1 Threat of New Entrants
- 11.3.2 Bargaining Power of Suppliers
- 11.3.3 Bargaining Power of Buyers
- 11.3.4 Threat of Substitutes
- 11.3.5 Competitive Rivalry
- 12 Medicine Type
- 12.1 Market Snapshot & Growth Engine
- 12.2 Market Overview
- 12.3 OTC Products
- 12.3.1 Market Overview
- 12.3.2 Market Size & Forecast
- 12.3.3 OTC Products: Market by Geography
- 12.4 Prescription Medicines
- 12.4.1 Market Overview
- 12.4.2 Market Size & Forecast
- 12.4.3 Prescription Medicines: Market by Geography
- 13 Platform Type
- 13.1 Market Snapshot & Growth Engine
- 13.2 Market Overview
- 13.3 Mobile
- 13.3.1 Market Overview
- 13.3.2 Market Size & Forecast
- 13.3.3 Mobile: Market by Geography
- 13.4 Desktop
- 13.4.1 Market Overview
- 13.4.2 Market Size & Forecast
- 13.4.3 Desktop: Market by Geography
- 14 Product Type
- 14.1 Market Snapshot & Growth Engine
- 14.2 Market Overview
- 14.3 Medications
- 14.3.1 Market Overview
- 14.3.2 Market Size & Forecast
- 14.3.3 Medications: Market by Geography
- 14.4 Health Wellness & Nutrition
- 14.4.1 Market Overview
- 14.4.2 Market Size & Forecast
- 14.4.3 Health Wellness & Nutrition: Market by Geography
- 14.5 Personal Care & Essentials
- 14.5.1 Market Overview
- 14.5.2 Market Size & Forecast
- 14.5.3 Personal Care & Essentials: Market by Geography
- 14.6 Others
- 14.6.1 Market Overview
- 14.6.2 Market Size & Forecast
- 14.6.3 Others: Market by Geography
- 15 Geography
- 15.1 Market Snapshot & Growth Engine
- 15.2 Geographic Overview
- 16 North America
- 16.1 Market Overview
- 16.2 Market Size & Forecast
- 16.3 North America: Medicine Type Segmentation
- 16.4 North America: Platform Type Segmentation
- 16.5 North America: Product Type Segmentation
- 16.7 North America: Key Countries
- 16.7.1 US: Market Size & Forecast
- 16.7.2 Canada: Market Size & Forecast
- 17 Europe
- 17.1 Market Overview
- 17.2 Market Snapshot & Growth Engine
- 18 EU5
- 18.1 Market Overview
- 18.2 Market Size & Forecast
- 18.3 EU5: Medicine Type Segment
- 18.4 EU5: Platform Type Segment
- 18.5 EU5: Product Type Segment
- 18.6 Key Countries
- 18.6.1 Germany: Market Size & Forecast
- 18.6.2 The UK: Market Size & Forecast
- 18.6.3 France: Market Size & Forecast
- 18.6.4 Italy: Market Size & Forecast
- 18.6.5 Spain: Market Size & Forecast
- 19 Central & Eastern Europe
- 19.1 Market Overview
- 19.2 Market Size & Forecast
- 19.3 Central & Eastern Europe: Medicine Type Segmentation
- 19.4 Central & Eastern Europe: Platform Type Segmentation
- 19.5 Central & Eastern Europe: Product Type Segmentation
- 19.6 Key Countries
- 19.6.1 Poland: Market Size & Forecast
- 19.6.2 Netherlands: Market Size & Forecast
- 19.6.3 Russia: Market Size & Forecast
- 19.6.4 Switzerland: Market Size & Forecast
- 19.6.5 Czech Republic: Market Size & Forecast
- 19.6.6 Hungary: Market Size & Forecast
- 20 Nordic Countries
- 20.1 Market Overview
- 20.2 Market Size & Forecast
- 20.3 Nordics: Medicine Type Segmentation
- 20.4 Nordic: Platform Type Segmentation
- 20.5 Nordic Countries: Product Type Segmentation
- 20.6 Key Countries
- 20.6.1 Denmark: Market Size & Forecast
- 20.6.2 Sweden: Market Size & Forecast
- 20.6.3 Norway: Market Size & Forecast
- 20.6.4 Finland: Market Size & Forecast
- 20.6.5 Iceland: Market Size & Forecast
- 21 APAC
- 21.1 Market Overview
- 21.2 Market Size & Forecast
- 21.3 APAC: Medicine Type Segmentation
- 21.4 APAC: Platform Type Segmentation
- 21.5 APAC: Product Type Segmentation
- 21.6 APAC: Key Countries
- 21.6.1 China: Market Size & Forecast
- 21.6.2 Japan: Market Size & Forecast
- 21.6.3 India: Market Size & Forecast
- 21.6.4 Australia: Market Size & Forecast
- 21.6.5 South Korea: Market Size & Forecast
- 22 Latin America
- 22.1 Market Overview
- 22.2 Market Size & Forecast
- 22.3 Latin America: Medicine Type Segmentation
- 22.4 Latin America: Platform Type Segmentation
- 22.5 Latin America: Product Type Segmentation
- 22.6 Latin America: Key Countries
- 22.6.1 Mexico: Market Size & Forecast
- 22.6.2 Argentina: Market Size & Forecast
- 22.6.3 Brazil: Market Size & Forecast
- 23 Middle East & Africa
- 23.1 Market Overview
- 23.2 Market Size & Forecast
- 23.3 Middle East & Africa: Medicine Type Segmentation
- 23.4 Middle East & Africa: Platform Type Segmentation
- 23.5 Middle East & Africa: Product Type Segmentation
- 23.6 Middle East & Africa: Key Countries
- 23.6.1 Saudi Arabia: Market Size & Forecast
- 23.6.2 UAE: Market Size & Forecast
- 23.6.3 South Africa: Market Size & Forecast
- 24 Competitive Landscape
- 24.1 Competition Overview
- 25 Key Company Profiles
- 25.1 AMAZON PHARMACY
- 25.1.1 Business Overview
- 25.1.2 Key Strategies
- 25.1.3 Key Strengths
- 25.1.4 Key Opportunities
- 25.2 CIGNA (EXPRESS SCRIPTS)
- 25.2.1 Business Overview
- 25.2.2 Key Strategies
- 25.2.3 Key Strengths
- 25.2.4 Key Opportunities
- 25.3 CVS HEALTH
- 25.3.1 Business Overview
- 25.3.2 Key Strategies
- 25.3.3 Key Strengths
- 25.3.4 Key Opportunities
- 25.4 GIANT EAGLE
- 25.4.1 Business Overview
- 25.4.2 Key Strategies
- 25.4.3 Key Strengths
- 25.4.4 Key Opportunities
- 25.5 KROGER
- 25.5.1 Business Overview
- 25.5.2 Key Strategies
- 25.5.3 Key Strengths
- 25.5.4 Key Opportunities
- 25.6 SHOP APOTHEKE
- 25.6.1 Business Overview
- 25.6.2 Key Strategies
- 25.6.3 Key Strengths
- 25.6.4 Key Opportunities
- 25.7 WALGREENS BOOTS ALLIANCE
- 25.7.1 Business Overview
- 25.7.2 Key Strategies
- 25.7.3 Key Strengths
- 25.7.4 Key Opportunities
- 25.8 WALMART
- 25.8.1 Business Overview
- 25.8.2 Key Strategies
- 25.8.3 Key Strengths
- 25.8.4 Key Opportunities
- 25.9 ZUR ROSE GROUP
- 25.9.1 Business Overview
- 25.9.2 Key Strategies
- 25.9.3 Key Strengths
- 25.9.4 Key Opportunities
- 26 Other Prominent Vendors
- 26.1 CHEMIST DIRECT
- 26.1.1 Business Overview
- 26.1.2 Key Strategy
- 26.1.3 Key Strengths
- 26.2 MEDLIFE
- 26.2.1 Business Overview
- 26.2.2 Key Strategies
- 26.2.3 Key Strengths
- 26.3 MONCOINSANTÉ
- 26.3.1 Business Overview
- 26.3.2 Key Strategies
- 26.3.3 Key Strengths
- 26.4 TATA 1MG
- 26.4.1 Business Overview
- 26.4.2 Key Strategy
- 26.4.3 Key Strengths
- 26.5 AMX HOLDINGS
- 26.5.1 Business Overview
- 26.5.2 Key Strategies
- 26.5.3 Key Strengths
- 26.6 APTEKA.RU
- 26.6.1 Business Overview
- 26.6.2 Key Strategies
- 26.6.3 Key Strengths
- 26.7 APOTEA
- 26.7.1 Business Overview
- 26.7.2 Key Strategies
- 26.7.3 Key Strength
- 26.8 AZETA
- 26.8.1 Business Overview
- 26.8.2 Key Strategies
- 26.8.3 Key Strength
- 26.9 BESTPHARMACY
- 26.9.1 Business Overview
- 26.9.2 Key Strategies
- 26.9.3 Key Strengths
- 26.10 BIOPLUS SPECIALTY PHARMACY
- 26.10.1 Business Overview
- 26.10.2 Key Strategy
- 26.10.3 Key Strength
- 26.11 CAREPOINT
- 26.11.1 Business Overview
- 26.11.2 Key Strategy
- 26.11.3 Key Strengths
- 26.12 CHEMIST 4 U
- 26.12.1 Business Overview
- 26.12.2 Key Strategies
- 26.12.3 Key Strength
- 26.13 COCOONCENTER
- 26.13.1 Business Overview
- 26.13.2 Key Strategies
- 26.13.3 Key Strength
- 26.14 DEONLINEDROGIST
- 26.14.1 Business Overview
- 26.14.2 Key Strategy
- 26.14.3 Key Strengths
- 26.15 FARMACIA INTERNACIONAL
- 26.15.1 Business Overview
- 26.15.2 Key Strategies
- 26.15.3 Key Strength
- 26.16 FOUNDATION CARE
- 26.16.1 Business Overview
- 26.16.2 Key Strategies
- 26.16.3 Key Strengths
- 26.17 GOGOMEDS
- 26.17.1 Business Overview
- 26.17.2 Key Strategy
- 26.17.3 Key Strength
- 26.18 HEALTHWAREHOUSE
- 26.18.1 Business Overview
- 26.19 HI-SCHOOL PHARMACY
- 26.19.1 Business Overview
- 26.20 HIMS &HERS HEALTH
- 26.20.1 Business Overview
- 26.21 HENRY FORD HEALTH SYSTEM
- 26.21.1 Business Overview
- 26.22 KINNEY DRUGS
- 26.22.1 Business Overview
- 26.23 KWIKMED
- 26.23.1 Business Overview
- 26.24 INDEX MEDICAL
- 26.24.1 Business Overview
- 26.24.2 Key Strategy
- 26.24.3 Key Strengths
- 26.25 INHOUSEPHARMACY
- 26.25.1 Business Overview
- 26.25.2 Key Strategy
- 26.25.3 Key Strength
- 26.26 JAPAN HEALTH CENTER
- 26.26.1 Business Overview
- 26.26.2 Key Strategy
- 26.26.3 Key Strength
- 26.27 LÉKÁRNA WPK
- 26.27.1 Business Overview
- 26.27.2 Key Strategy
- 26.27.3 Key Strength
- 26.28 LEKARNAR
- 26.28.1 Business Overview
- 26.28.2 Key Strategies
- 26.28.3 Key Strengths
- 26.29 LLOYDSPHARMACY
- 26.29.1 Business Overview
- 26.29.2 Key Strategy
- 26.29.3 Key Strengths
- 26.30 MEDEXPRESS
- 26.30.1 Business Overview
- 26.30.2 Key Strategy
- 26.30.3 Key Strength
- 26.31 MEDS
- 26.31.1 Business Overview
- 26.31.2 Key Strategies
- 26.31.3 Key Strength
- 26.32 MEDVANTX
- 26.32.1 Business Overview
- 26.32.2 Key Strategy
- 26.32.3 Key Strength
- 26.33 MYCARE
- 26.33.1 Business Overview
- 26.33.2 Key Strategy
- 26.33.3 Key Strengths
- 26.34 NETMEDS
- 26.34.1 Business Overview
- 26.34.2 Key Strategy
- 26.34.3 Key Strengths
- 26.35 NEWPHARMA
- 26.35.1 Business Overview
- 26.35.2 Key Strategies
- 26.35.3 Key Strengths
- 26.36 NORTHWESTPHARMACY.COM
- 26.36.1 Business Overview
- 26.36.2 Key Strategy
- 26.36.3 Key Strengths
- 26.37 NUNOKAME
- 26.37.1 Business Overview
- 26.37.2 Key Strategy
- 26.37.3 Key Strengths
- 26.38 OXFORD ONLINE PHARMACY
- 26.38.1 Business Overview
- 26.38.2 Key Strategy
- 26.38.3 Key Strengths
- 26.39 PARAFARMACIA-ONLINE
- 26.39.1 Business Overview
- 26.39.2 Key Strategy
- 26.39.3 Key Strengths
- 26.40 PHARM24
- 26.40.1 Business Overview
- 26.40.2 Key Strategies
- 26.40.3 Key Strengths
- 26.41 PHARMACY2U
- 26.41.1 Business Overview
- 26.41.2 Key Strategies
- 26.41.3 Key Strengths
- 26.42 PHARMACY4U
- 26.42.1 Business Overview
- 26.42.2 Key Strategy
- 26.42.3 Key Strength
- 26.43 PRVALEKARNA
- 26.43.1 Business Overview
- 26.43.2 Key Strategy
- 26.43.3 Key Strength
- 26.44 PROTEK GROUP
- 26.44.1 Business Overview
- 26.44.2 Key Strategies
- 26.44.3 Key Strength
- 26.45 RO PHARMACY
- 26.45.1 Business Overview
- 26.46 RX-24-ONLINE.COM
- 26.46.1 Business Overview
- 26.47 SANICARE
- 26.47.1 Business Overview
- 26.47.2 Key Strategies
- 26.47.3 Key Strengths
- 26.48 SBER EAPTEKA
- 26.48.1 Business Overview
- 26.48.2 Key Strategy
- 26.48.3 Key Strength
- 26.49 SIMPLE ONLINE PHARMACY
- 26.49.1 Business Overview
- 26.49.2 Key Strategy
- 26.49.3 Key Strength
- 26.50 THE CANADIAN PHARMACY
- 26.50.1 Business Overview
- 26.50.2 Key Strategy
- 26.50.3 Key Strength
- 26.51 UK MEDS
- 26.51.1 Business Overview
- 26.51.2 Key Strategies
- 26.51.3 Key Strengths
- 26.52 VAMIDA
- 26.52.1 Business Overview
- 26.52.2 Key Strategies
- 26.52.3 Key Strengths
- 26.53 WOORI PHARMACY
- 26.53.1 Business Overview
- 27 Report Summary
- 27.1 Key Takeaways
- 27.2 Strategic Recommendations
- 28 Quantitative Summary
- 28.1 Market by Geography
- 28.2 Market by Medicine Type
- 28.3 Market by Platform Type
- 28.4 Market by Product Type
- 28.5 North America: by Medicine Type
- 28.6 North America: by Platform Type
- 28.7 North America: by Product Type
- 28.8 Europe: by Medicine Type
- 28.9 Europe: by Platform Type
- 28.10 Europe: by Product Type
- 28.11 APAC: by Medicine Type
- 28.12 APAC: by Platform Type
- 28.13 APAC: by Product Type
- 28.14 Latin America: by Medicine Type
- 28.15 Latin America: by Platform Type
- 28.16 Latin America: by Product Type
- 28.17 Middle East & Africa: by Medicine Type
- 28.18 Middle East & Africa: by Platform Type
- 28.19 Middle East & Africa: by Product Type
- 29 Appendix
- 29.1 Abbreviations
Pricing
Currency Rates
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