The global market for ePharmacies is projected to reach USD 51.75 billion by the end of 2017 owing to the increasing number of tech-savvy people and rising demand for prescription drugs. The ePharmacies meeting the regulatory standards set by the government and following ethical business practices are likely to emerge as safe, affordable, and accessible source of prescription drugs in the near future. The present scenario reflects higher penetration of the ePharmacy industry in developed countries as compared to the developing market. This is mainly because of the increasing use of Internet in developed economies. However, the limitless nature of the Internet is imposing several challenges to the ePharmacy industry like increasing cyber crime in the name of ePharmacies, and the threats posed by illegal Internet operations likely to hamper the penetration of the ePharmacy industry.
American and European markets together hold a lion’s share in the ePharmacy industry owing to increased use of the Internet and active online presence. Furthermore, baby boomers are expected to drive market growth as a result of increase in the online sale of prescription drugs. The European market is the second largest growing market for the sales of prescription drugs through ePharmacies with a compounded growth rate of 20% during the analysis period. Although this industry has shown considerable growth in the past few years, the potential of the ePharmacy industry remains to be fully realized.
Development in ePharmacy is enabling customers to avail services like quality of care, convenience, drugs at low prices, especially to patients who live in remote areas or those who are homebound due to diseases or aging. Electronic pharmacies are playing a significant role in the prescription drug market providing pricing advantage and ease of ordering and obtaining the drug without visiting a pharmacist.
This research report analyzes the market and its market segments and major geographies. The regions analyzed under this report are:
- North America
- Rest of the World
This research report includes detailed analysis of different industry segments, industry growth drivers, restraints, market structure, and market projections for the near future. The report also includes an analysis of the recent technological developments in the field of ePharmacy, Porter’s five force model analysis, and complete company profiles of the top industry players. This report provides a review of the micro and macro factors significant with respect to the existing market players and new entrants along with detailed value chain analysis.
Some of the key players dominating this market are CVS Caremark, CanAmerica Drugs Inc., CanadaDrugs.com, CanDrugstore.com, MediSave, PlanetRx.com, drugstore.com Inc., DocMorris, Domzdrowia.pl SA, ePharmacy, eDrugstore.MD, Lloyds Pharmacy Ltd., Rowlands Pharmacy, The SANICARE Group, Walgreen Co., and others.
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