Pharma E-Commerce Market is Likely to Upsurge at USD 6.21 Billion Globally by 2030, Size, Share, Trends, Demand, Growth and Opportunity Analysis

Data Bridge Market Research analyses that the pharma e-commerce market, which was USD 1.2 billion in 2022, would rise to USD 6.21 billion by 2030 and is expected to undergo a CAGR of 22.5% during the forecast period 2023 to 2030

/EIN News/ -- MONTREAL, March 17, 2023 (GLOBE NEWSWIRE) -- Data Bridge Market Research completed a qualitative study titled "Pharma E-Commerce Market" with 100+ market data tables, pie charts, graphs, and figures spread across Pages and an easy-to-grasp full analysis. Global Pharma E-Commerce market survey reports intensely analyze the potential of the market with respect to the current scenario and the future prospects by considering several industry aspects of the Pharma E-Commerce industry. The most up-to-date market insights and analysis performed in this business report bring the marketplace clearly into focus. This market research study analyzes the market status, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, and distributors. This market report highlights key market dynamics, the current market scenario, and future prospects of the Pharma E-Commerce industry. Pharma E-Commerce market research report is generated with a nice blend of industry insight, talent solutions, practical solutions, and the use of technology to advance user experience.

An influential Pharma E-Commerce market report includes all the studies and estimations that are involved in the method of standard market research analysis. This market study provides an examination of various market segments that are relied upon to observe the fastest development amid the estimated forecast frame. Proficient capabilities and excellent resources in research, data collection, development, consulting, evaluation, compliance and regulatory services come together to generate this world-class market research report. The report suits business requirements in many ways and also assists in informed decision-making and smart working. The Pharma E-Commerce market research report is sure to help businesses for the informed and better decisions thereby managing the marketing of goods and services.

Data Bridge Market Research analyses that the pharma e-commerce market, which was USD 1.2 billion in 2022, would rise to USD 6.21 billion by 2030 and is expected to undergo a CAGR of 22.5% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Pharma e-commerce is an online pharmacy that operates online and distributes medicines to people through mail and shipping companies. It is also referred to as mail-order pharmacy or internet pharmacy. Telemedicine is among the most widely used technologies in the healthcare sector that has created a way for people to access healthcare advice through IT.

The ease of operation, more digitalization, and an increased number of beneficiaries registering under Medicare are all leading to market expansion. As per the Kaiser Family Foundation data, more than 26 million people are enrolled in a Medicare Advantage plan in 2021, resulting in 42% of the overall Medicare population. The increasing elderly population is most likely to boost the market expansion.

The Global Market Is Analyzed in Depth in the Latest Study. Taking into account the current level of competition and its projected evolution over the next few years.

Rapidly increasing demands, a rise in industrialization, consumer awareness, growing sectors, and technical improvements are fueling the expansion of the global Pharma E-Commerce market. Sales and revenue in this sector have increased at an exponential rate. The market's size and growth are both expected to increase thanks to the factors driving the market's expansion over the projected period.

Leading businesses in the worldwide Pharma E-Commerce market are investing heavily in R&D in order to build a larger client base and expand their share of the market by reintroducing improved products to consumers. All of the companies' strategy, as well as their financial health, revenue, gross margin, and growth rate, are detailed in the study.

Fundamental Aim of Pharma E-Commerce Market Report

In the Pharma E-Commerce market, every company has goals, but this report focus in on the most important ones, allowing you to gain insight into the competition, the future of the market, potential new products, and other useful information that can boost your sales significantly.

• Factors influencing the Pharma E-Commerce Market Size and growth rate.

• Major alterations to the Pharma E-Commerce Market in the near future.

• Notable Market rivals around the world.

• The Pharma E-Commerce Market's Future Scope and Product Outlook

• Future-promising emerging markets.

• The Market Presents Difficult Challenges and Threats.

• Sales data and profiles of the world's leading Pharma E-Commerce manufacturers

Some of the major players operating in the pharma e-commerce market are

• Boehringer Ingelheim International GmbH (Germany)

• AbbVie Inc (U.S.)

• Aurobindo Pharma (India)

• Pfizer Inc. (U.S.)

• Walmart Inc. (U.S.)

• Walgreen Co. (U.S.)

• Express Scripts (U.S.)

• The Kroger Co. (U.S.)

• L Rowland & Co (U.K.)

• DocMorris (Germany)

• Giant Eagle, Inc. (U.S.)

• OptumRx, Inc. (U.S.)

• CVS Health (U.S.)

• Merck & Co., Inc. (U.S.)

• Thermo Fisher Scientific (U.S.)

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Recent Development

• In 2021, Medicure Inc. announced the launch of an innovative e-commerce pharmacy platform that provides hundreds of medications directly to millions of U.S. citizens. The main goal is to go beyond the conventional framework managed by health insurers and pharmacy benefit managers

The investment made in the study would provide you access to information such as:

• Pharma E-Commerce Industry [Global – Broken-down into regions]
• Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
• Country wise Market Size Split [of important countries with major market share]
• Market Share and Revenue/Sales by leading players
• Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter’s Five Forces, etc.
• Market Size
• Market Size by application/industry verticals
• Market Projections/Forecast

Opportunities:

• Increasing Demand for Omnichannel Retailing Technique

The omnichannel retailing technique by pharmacy chains is boosting market growth. With consumers' increasing adoption of online pharmacies, retail pharmacy chains globally have incorporated online services and mobile applications with their conventional platforms to provide rapid and real-time access to the retail brand. It combines physical and digital experiences with pharmacy as its touchpoint. This involves being backed by real-time inventory data and effective logistics and stock availability advice and display. Thus, this factor boosts market growth.  

• Increasing Demand for E-prescriptions

Numerous healthcare professionals are now drifting towards e-prescriptions to let patients rapidly avail medicine with the help of e-prescriptions. Countries such as the U.K. are indulging in more effort into applying e-prescriptions. For instance, Co-op Health, a digital prescription service that allows individuals to obtain medication through an app for convenient pickup at a nearby pharmacy or home delivery, was acquired by Phoenix U.K. in 2021. The app has shown major development within a short period, and PHOENIX UK will use its network of Numark and Rowlands to meet that need. Thus, this factor enhances the market growth.

Key Market Segments Covered in Pharma E-Commerce Industry Research

Product

• Prescription Medicine (Rx)

• Over the Counter (OTC)

End User

• Direct Sales

• Distributors

• Online

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Key Growth Drivers:

• Increase in Elderly Population and Chronic Diseases

An increase in the elderly population and chronic diseases is a major trend in the market. The life expectancy of people in Europe is more than in other developed countries. The increased prevalence of chronic illnesses such as arthritis, cancer, diabetes, obesity, asthma, heart disease, and chronic obstructive pulmonary disease (COPD) among the elderly leads to their higher dependency on families and caregivers. This e-commerce platform helped the elderly greatly as it is difficult for them to step out and buy medicines. Thus, this factor boosts market growth.

Pharma E-Commerce Market Regional Analysis/Insights:

The countries covered in the pharma e-commerce market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America dominates the pharma e-commerce market because of the increasing adoption of e-commerce and the growing geriatric population in this region.  The growing prevalence of minor illnesses, such as backache, flu, fever, cough, and cold, increases the Demand for OTC medications. Thus, the huge dependence on online pharmacies to obtain these drugs also increases
Asia-Pacific is expected to witness significant growth due to the increasing number of the patient population and increasing initiatives by the government for the improvement of infrastructure in this region. Additionally, the increased concentration of key market players and the launch of advanced technologies by manufacturers to improve the experience of online medicine purchases by customers are expected to boost the market's growth.

This Market Intelligence Report Analyses Some of the Most Crucial Concerns:

• How will the major segments of this international market develop over the next few years?

• Who are the major players that will dominate the market in the future?

• When it comes to this industry, who are the top suppliers and producers?

• How have the most successful companies in the industry planned for future growth and expansion?

• In what sectors might we expect to see the greatest increase in demand over the coming years?

• How many distinct subsets of buyers make up this market?

• Which regional powerhouse do you foresee as becoming the largest player in the international market?

• Does a new coronavirus pandemic have any consequences?

• In what ways are established actors stymied by the entry of newcomers, and how may they be overcome?

Table of Contents:

1. Introduction
2. Market Segmentation
3. Executive Summary
4. Premium Insights
5. Global Pharma E-Commerce Market: Regulations
6. Market Overview
7. Global Pharma E-Commerce Market, By Product
8. Global Pharma E-Commerce Market, By End User
9. Global Pharma E-Commerce Market, By Region
10. Global Pharma E-Commerce Market: Company Landscape
11. SWOT Analyses
12. Company Profile
13. Questionnaires
14. Related Reports

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