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ePharmacy Market

ePharmacy Market (Product: Prescription Medicines, Over-the-counter Products, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2022-2031

ePharmacy Market Outlook 2031

  • The global ePharmacy market was valued at US$ 63.5 Bn in 2021
  • It is projected to advance at a CAGR of 19.2% from 2022 to 2031
  • The global ePharmacy market is anticipated to reach more than US$ 362.8 Bn by the end of 2031

Analysts’ Viewpoint on ePharmacy Market Scenario

The global ePharmacy market is estimated to grow at a rapid pace during the forecast period, due to the rise in awareness about online pharmacies, increase in digital penetration, and growth in consumer comfort level with online transactions. The ePharmacy model is simple to use and has begun to replace traditional pharmacies. ePharmacy includes medications and medical services. e-pharmacies experienced an overnight increase in site traffic and sales due to the COVID-19 pandemic. Government officials became aware of telemedicine and the value of such services for the general population. However, lack of clearly stated laws and clear-cut guidelines to regulate, control, and monitor e-pharmacies is a concern. Leading players in the market are tapping into incremental opportunities in the global ePharmacy market to broaden their revenue streams.

Epharmacy Market

ePharmacy Market Introduction

The term 'ePharmacy' refers to an online pharmacy that provides medical care and allows patients to buy prescribed medications online. E-pharmacy is a branch of pharmacy that primarily operates online. It makes use of the Internet and sends medications to customers via dedicated delivery companies. Online pharmacies include independent Internet-only outlets, electronic subsidiaries of "brick-and-mortar" hospitals, and platforms serving pharmacy companies. It makes up 8% to 10% of the pharmaceutical market; however, there exists significant room for growth due to the rise in awareness about online pharmacies. People are able to access labs and medications from the security of their homes, as online pharmacies are primed and prepared for home delivery of medicines.

Electronic pharmacy systems, including online shopping and the sale of prescribed and non-prescribed drugs and medicines, are growing rapidly. Some of India's largest conglomerates and multinational e-commerce firms are striving to establish a presence in the sector, which is also undergoing consolidation among existing players. E-commerce is becoming increasingly important in wholesale and retail trade. Orders have increased by approximately 20% to 30% for e-commerce companies. The concept of electronic pharmacies and online drug sales has been popular across the world since more than two decades. Online pharmacy has experienced exponential growth across categories due to rise in availability of smartphones and the Internet. People have started purchasing various things online including groceries, apparel, and medicines. E-pharmacy has emerged as a promising industry as a result of this significant change in consumer shopping habits. E-pharmacies also offer online services such as doctor consultations as well as a number of offline services (including diagnostics). The global ePharmacy market size is anticipated to increase during the forecast period owing to the rise in number of smartphone users and growth in penetration of the Internet across the globe. Increase in adoption of electronic signature pharmacies is also likely to augment the market during the forecast period.

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Increase in Preference for Online Pharmacies Augmenting Global ePharmacy Market

Increase in online medicine sales has caused significant disruption in the pharmacy market. Growth of mail order and online pharmacies is another factor that has the potential to have a significant impact on pharmacy service structures and medicine costs. The COVID-19 pandemic has had a significant effect on consumer purchasing behavior. It has induced more people to buy healthcare products from online retailers or dedicated ePharmacies.

According to a study published in the Pharmaceutical Journal, the number of items dispensed from distance-selling pharmacies in the U.K. increased by 45% in 2020. Using dispensing data and lists of distance-selling pharmacies obtained through the Freedom of Information Act from the NHS Business Services Authority, it was discovered that these pharmacies dispensed 42 million items in 2020.

In Denmark, pharmacies have the exclusive right to sell prescription-only medicines to consumers. Several over-the-counter (OTC) drugs are available only at pharmacies. Denmark had 227 pharmacies and two online pharmacies as of January 1, 2021. Moreover, one of the pharmacies has 80 branches, 209 voluntarily established branches, 24 pharmacy outlets, approximately 350 OTC outlets, and around 400 medicine delivery facilities.

People look for convenience, dependability, and affordability in every online transaction. They are already at ease in purchasing categories such as music, food, and media from online retailers. They are now seeking the same level of service for more complex categories (OTC, medical devices, and prescription medicines). Hence, the trend of online pharmacy is expected to increase during the forecast period.

Growth in Smartphone Availability and Internet Penetration to Fuel Online Sale of Prescribed Medicines

In terms of product, the prescription medicines segment accounted for the largest global ePharmacy market share in 2021. The segment is expected to maintain its leading position in the market during the forecast period. Patients benefit significantly from online pharmacies, as these offer a much wider variety of options than conventional pharmacies. Several drugs are available in regular drug stores, but it is not always possible to find prescribed medicines at a local physical pharmacy. The Internet makes everything simple and practical. Patients can now order medicines online with a registered medical practitioner's prescription and have them delivered right to their door. This is a popular practice of ordering drugs prescribed by doctors. People are likely to opt for online pharmacies instead of visiting a nearby pharmacy owing to the rise in penetration of smartphones and the Internet. They can also order their prescriptions from the convenience of their homes by comparing the prices of medications. They can have their medications delivered right to their doorstep with just a few clicks. This convenience is a key selling point that is likely to fuel the ePharmacy market growth in the next few years.

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Regional Outlook of Global ePharmacy Market

North America accounted for the largest share of the global ePharmacy market in 2021. The region is expected to maintain its share during the forecast period. Increase in number of Internet users has led to a rise in adoption of digital technologies, thus offering unprecedented growth opportunities to the ePharmacy market in the region.

The U.K. and Germany are the major hotspots of the e-pharmacy industry in Europe, led by the rise in inclination toward the online mode of medicine purchase among the people in these countries. According to a YouGov survey for the General Pharmaceutical Council (2021), 25% of people in the U.K. are likely to use an online pharmacy in the future. The country has more than 350 registered online pharmacies. Over the last 12 months, 300,000 patients have used Pharmacy2U's NHS prescription service to have their medication delivered, with a new facility in Leicestershire capable of dispensing 7.5 million items per month.

The market in Asia Pacific is anticipated to grow at the fastest CAGR during the forecast period. Large population base in emerging economies such as China and India; increase in government initiatives to encourage the adoption of digital technologies; and rise in preference of customers to use ePharmacy solutions have led to a steady growth in investor interest in e-pharmacies, with the sector attracting US$ 700 Mn in investments in 2020 alone. Some of the leading players in the market in Asia Pacific include Pharmeasy, Medlife, 1Mg, and Netmeds.

Analysis of Key Players in Global ePharmacy Market

The global ePharmacy market is consolidated, with the presence of a small number of leading players that control majority of the share. Expansion of product portfolio and mergers & acquisitions are the key strategies adopted by the leading players in the global ePharmacy market. Chemist Direct, DocMorris, Express Scripts Holding Company, Giant Eagle, Inc., Healthxchange Pharmacy, LloydsPharmacy, MedExpress, Netmeds, Optum Rx, Inc., PharmEasy, 1Mg, Rowlands Pharmacy, The Kroger Co., Walgreen Co., and Well Pharmacy are the prominent players operating in the global ePharmacy market.

Key Developments in Global ePharmacy Market

  • In March 2022, Walgreens and Labcorp, a renowned international life sciences company, unveiled Pixel by Labcorp, a PCR test (COVID-19 at-home collection kit). Many communities can easily access testing services, as Walgreens includes the kits, which are provided in cooperation with the U.S. Department of Health and Human Services (HHS).
  • In May 2021, Well Pharmacy announced a new collaboration with Omnicell, a leading provider of supply and medication management solutions, as well as adherence tools for healthcare systems and pharmacies. This collaboration is likely to highlight Omnicell's innovative eMAR solution to more than 350 care homes across the U.K. in an effort to reduce medication errors, improve patient safety, and increase operational efficiencies, thus enabling care staff to spend more time on face-to-face patient care.
  • In 2018, PharmEasy received a total investment of around US$ 65 Mn from investors including Think Investments, Fundamentum, Bessemer, Eight Roads Ventures, Trifecta Capital, Orios VP, Aarin Capital, and JM Financial. The online pharmacy sector in India has attracted the most private equity (PE) and venture capital (VC) investments in the past six years.

Each of these players has been profiled in the ePharmacy market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.

Global ePharmacy Market Snapshot

Attribute

Detail

Market Size Value in 2021

US$ 63.5 Bn

Market Forecast Value in 2031

More than US$ 362.8 Bn

Growth Rate

(CAGR)

19.2%

Forecast Period

2022–2031

Historical Data Available for

2017–2020

Quantitative Units

US$ Bn for Value

Market Analysis

It includes segment analysis as well as regional level analysis. Moreover, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis.

Competition Landscape

  • Market share analysis by company (2021)
  • Company profiles section includes overview, product portfolio, sales footprint, key subsidiaries or distributors, strategy & recent developments, and key financials

Format

Electronic (PDF) + Excel

Market Segmentation

  • Product
    • Prescription Medicines
    • Over-the-counter (OTC) Products
    • Others

Regions Covered

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Countries Covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • China
  • India
  • Japan
  • Australia & New Zealand
  • Brazil
  • Mexico
  • South Africa
  • GCC Countries

Companies Profiled

  • Chemist Direct
  • DocMorris
  • Express Scripts Holding Company
  • Giant Eagle, Inc.
  • Healthxchange Pharmacy
  • LloydsPharmacy
  • MedExpress
  • Netmeds
  • Optum Rx, Inc.
  • PharmEasy
  • 1Mg
  • Rowlands Pharmacy
  • The Kroger Co.
  • Walgreen Co.
  • Well Pharmacy

Customization Scope

Available upon request

Pricing

Available upon request

ePharmacy Market

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Frequently Asked Questions

How big was the global ePharmacy market in 2021?

The global ePharmacy market was valued at US$ 63.5 Bn in 2021

How big will be the global ePharmacy market in 2031?

The global ePharmacy market is projected to reach more than US$ 362.8 Bn by 2031

What will be the CAGR of the global ePharmacy market during the forecast period (2022–2031)?

The global ePharmacy market is anticipated to advance at a CAGR of 19.2% from 2022 to 2031

Which are the prominent trends that affect market growth?

Increase in digitization of healthcare services, rise in smartphone availability & internet penetration, and growth in consumer preference for online pharmacies

Which region will account for major share of the global market during the forecast period?

North America is expected to account for major share of the global ePharmacy market during the forecast period.

Who are the prominent players in the global ePharmacy market?

Chemist Direct, DocMorris, Express Scripts Holding Company, Giant Eagle, Inc., Healthxchange Pharmacy, LloydsPharmacy, MedExpress, Netmeds, Optum Rx, Inc., and PharmEasy

1. Preface

    1.1. Market Definition and Scope

    1.2. Market Segmentation

    1.3. Key Research Objectives

    1.4. Research Highlights

2. Assumptions and Research Methodology

3. Executive Summary: Global ePharmacy Market

4. Market Overview

    4.1. Introduction

        4.1.1. Definition

        4.1.2. Industry Evolution / Developments

    4.2. Overview

    4.3. Market Dynamics

        4.3.1. Drivers

        4.3.2. Restraints

        4.3.3. Opportunities

    4.4. Global ePharmacy Market Analysis and Forecast, 2017–2031

5. Key Insights

    5.1. Pricing Analysis

    5.2. Key Industry Events (mergers, acquisitions, collaborations, approvals, etc.)

    5.3. COVID-19 Impact Analysis

    5.4. Regulatory Scenario

6. Global ePharmacy Market Analysis and Forecast, by Product

    6.1. Introduction & Definition

    6.2. Key Findings / Developments

    6.3. Market Value Forecast, by Product, 2017–2031

        6.3.1. Prescription Medicine

        6.3.2. Over-the-counter (OTC) Products

        6.3.3. Other (Diagnostic Services)

    6.4. Market Attractiveness Analysis, by Product

7. Global ePharmacy Market Analysis and Forecast, by Region

    7.1. Key Findings

    7.2. Market Value Forecast, by Region

        7.2.1. North America

        7.2.2. Europe

        7.2.3. Asia Pacific

        7.2.4. Latin America

        7.2.5. Middle East & Africa

    7.3. Market Attractiveness Analysis, by Region

8. North America ePharmacy Market Analysis and Forecast

    8.1. Introduction

        8.1.1. Key Findings

    8.2. Market Value Forecast, by Product, 2017–2031

        8.2.1. Prescription Medicine

        8.2.2. Over-the-counter (OTC) Products

        8.2.3. Other

    8.3. Market Value Forecast, by Country, 2017–2031

        8.3.1. U.S.

        8.3.2. Canada

    8.4. Market Attractiveness Analysis

        8.4.1. By Product

        8.4.2. By Country

9. Europe ePharmacy Market Analysis and Forecast

    9.1. Introduction

        9.1.1. Key Findings

    9.2. Market Value Forecast, by Product, 2017–2031

        9.2.1. Prescription Medicine

        9.2.2. Over-the-counter (OTC) Products

        9.2.3. Other

    9.3. Market Value Forecast, by Country/Sub-region, 2017–2031

        9.3.1. Germany

        9.3.2. U.K.

        9.3.3. France

        9.3.4. Italy

        9.3.5. Spain

        9.3.6. Rest of Europe

    9.4. Market Attractiveness Analysis

        9.4.1. By Product

        9.4.2. By Country/Sub-region

10. Asia Pacific ePharmacy Market Analysis and Forecast

    10.1. Introduction

        10.1.1. Key Findings

    10.2. Market Value Forecast, by Product, 2017–2031

        10.2.1. Prescription Medicine

        10.2.2. Over-the-counter (OTC) Products

        10.2.3. Other

    10.3. Market Value Forecast, by Country/Sub-region, 2017–2031

        10.3.1. China

        10.3.2. Japan

        10.3.3. India

        10.3.4. Australia & New Zealand

        10.3.5. Rest of Asia Pacific

    10.4. Market Attractiveness Analysis

        10.4.1. By Product

        10.4.2. By Country/Sub-region

11. Latin America ePharmacy Market Analysis and Forecast

    11.1. Introduction

        11.1.1. Key Findings

    11.2. Market Value Forecast, by Product, 2017–2031

        11.2.1. Prescription Medicine

        11.2.2. Over-the-counter (OTC) Products

        11.2.3. Other

    11.3. Market Value Forecast, by Country/Sub-region, 2017–2031

        11.3.1. Brazil

        11.3.2. Mexico

        11.3.3. Rest of Latin America

    11.4. Market Attractiveness Analysis

        11.4.1. By Product

        11.4.2. By Country/Sub-region

12. Middle East & Africa ePharmacy Market Analysis and Forecast

    12.1. Introduction

        12.1.1. Key Findings

    12.2. Market Value Forecast, by Product, 2017–2031

        12.2.1. Prescription Medicine

        12.2.2. Over-the-counter (OTC) Products

        12.2.3. Other

    12.3. Market Value Forecast, by Country/Sub-region, 2017–2031

        12.3.1. GCC Countries

        12.3.2. South Africa

        12.3.3. Rest of Middle East & Africa

    12.4. Market Attractiveness Analysis

        12.4.1. By Product

        12.4.2. By Country/Sub-region

13. Competition Landscape

    13.1. Market Player - Competitive Matrix (by tier and size of companies

    13.2. Market Share Analysis, by Company (2021)

    13.3. Company Profiles

        13.3.1. Chemist Direct

            13.3.1.1. Company Overview

            13.3.1.2. Product Portfolio

            13.3.1.3. SWOT Analysis

            13.3.1.4. Financial Overview

            13.3.1.5. Strategic Overview

        13.3.2. DocMorris

            13.3.2.1. Company Overview

            13.3.2.2. Product Portfolio

            13.3.2.3. SWOT Analysis

            13.3.2.4. Financial Overview

            13.3.2.5. Strategic Overview

        13.3.3. Express Scripts Holding Company

            13.3.3.1. Company Overview

            13.3.3.2. Product Portfolio

            13.3.3.3. SWOT Analysis

            13.3.3.4. Financial Overview

            13.3.3.5. Strategic Overview

        13.3.4. Giant Eagle, Inc.

            13.3.4.1. Company Overview

            13.3.4.2. Product Portfolio

            13.3.4.3. SWOT Analysis

            13.3.4.4. Financial Overview

            13.3.4.5. Strategic Overview

        13.3.5. Healthxchange Pharmacy

            13.3.5.1. Company Overview

            13.3.5.2. Product Portfolio

            13.3.5.3. SWOT Analysis

            13.3.5.4. Financial Overview

            13.3.5.5. Strategic Overview

        13.3.6. LloydsPharmacy

            13.3.6.1. Company Overview

            13.3.6.2. Product Portfolio

            13.3.6.3. SWOT Analysis

            13.3.6.4. Financial Overview

            13.3.6.5. Strategic Overview

        13.3.7. MedExpress

            13.3.7.1. Company Overview

            13.3.7.2. Product Portfolio

            13.3.7.3. SWOT Analysis

            13.3.7.4. Financial Overview

            13.3.7.5. Strategic Overview

        13.3.8. Netmeds

            13.3.8.1. Company Overview

            13.3.8.2. Product Portfolio

            13.3.8.3. SWOT Analysis

            13.3.8.4. Financial Overview

            13.3.8.5. Strategic Overview

        13.3.9. Optum Rx, Inc.

            13.3.9.1. Company Overview

            13.3.9.2. Product Portfolio

            13.3.9.3. SWOT Analysis

            13.3.9.4. Financial Overview

            13.3.9.5. Strategic Overview

        13.3.10. PharmEasy

            13.3.10.1. Company Overview

            13.3.10.2. Product Portfolio

            13.3.10.3. SWOT Analysis

            13.3.10.4. Financial Overview

            13.3.10.5. Strategic Overview

        13.3.11. 1Mg

            13.3.11.1. Company Overview

            13.3.11.2. Product Portfolio

            13.3.11.3. SWOT Analysis

            13.3.11.4. Financial Overview

            13.3.11.5. Strategic Overview

        13.3.12. Rowlands Pharmacy

            13.3.12.1. Company Overview

            13.3.12.2. Product Portfolio

            13.3.12.3. SWOT Analysis

            13.3.12.4. Financial Overview

            13.3.12.5. Strategic Overview

        13.3.13. The Kroger Co.

            13.3.13.1. Company Overview

            13.3.13.2. Product Portfolio

            13.3.13.3. SWOT Analysis

            13.3.13.4. Financial Overview

            13.3.13.5. Strategic Overview

        13.3.14. Walgreen Co.

            13.3.14.1. Company Overview

            13.3.14.2. Product Portfolio

            13.3.14.3. SWOT Analysis

            13.3.14.4. Financial Overview

            13.3.14.5. Strategic Overview

        13.3.15. Well Pharmacy

            13.3.15.1. Company Overview

            13.3.15.2. Product Portfolio

            13.3.15.3. SWOT Analysis

            13.3.15.4. Financial Overview

            13.3.15.5. Strategic Overview

List of Tables

Table 01: Global ePharmacy Market Size (US$ Mn) Forecast, by Product, 2017–2031

Table 02: Global ePharmacy Market Size (US$ Mn) Forecast, by Region, 2017–2031

Table 03: North America ePharmacy Market Size (US$ Mn) Forecast, by Country, 2017–2031

Table 04: North America ePharmacy Market Size (US$ Mn) Forecast, by Product, 2017–2031

Table 05: Europe ePharmacy Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2031

Table 06: Europe ePharmacy Market Size (US$ Mn) Forecast, by Product, 2017–2031

Table 07: Asia Pacific ePharmacy Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2031

Table 08: Asia Pacific ePharmacy Market Size (US$ Mn) Forecast, by Product, 2017–2031

Table 09: Latin America ePharmacy Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2031

Table 10: Latin America ePharmacy Market Size (US$ Mn) Forecast, by Product, 2017–2031

Table 11: Middle East & Africa ePharmacy Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2031

Table 12: Middle East & Africa ePharmacy Market Size (US$ Mn) Forecast, by Product, 2017–2031

List of Figures

Figure 01: Global ePharmacy Market Size (US$ Mn) and Distribution (%), by Region, 2017 and 2031

Figure 02: Global ePharmacy Market Revenue (US$ Mn), by Product, 2021

Figure 03: Global ePharmacy Market Value Share, by Product, 2021

Figure 04: Global ePharmacy Market Value Share, by Region, 2021

Figure 05: Global ePharmacy Market Value (US$ Mn) Forecast, 2017–2031

Figure 06: Global ePharmacy Market Value Share Analysis, by Product, 2017 and 2031

Figure 07: Global ePharmacy Market Attractiveness Analysis, by Product, 2022-2031

Figure 08: Global ePharmacy Market Attractiveness Analysis, by Region, 2022-2031

Figure 09: North America ePharmacy Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031

Figure 10: North America ePharmacy Market Attractiveness Analysis, by Country, 2017–2031

Figure 11: North America ePharmacy Market Value Share Analysis, by Country, 2017 and 2031

Figure 12: North America ePharmacy Market Value Share Analysis, by Product, 2017 and 2031

Figure 13: North America ePharmacy Market Attractiveness Analysis, by Product, 2022–2031

Figure 14: Europe ePharmacy Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031

Figure 15: Europe ePharmacy Market Attractiveness Analysis, by Country/Sub-region, 2017–2031

Figure 16: Europe ePharmacy Market Value Share Analysis, by Country/Sub-region, 2017 and 2031

Figure 17: Europe ePharmacy Market Value Share Analysis, by Product, 2017 and 2031

Figure 18: Europe ePharmacy Market Attractiveness Analysis, by Product, 2022–2031

Figure 19: Asia Pacific ePharmacy Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031

Figure 20: Asia Pacific ePharmacy Market Attractiveness Analysis, by Country/Sub-region, 2017–2031

Figure 21: Asia Pacific ePharmacy Market Value Share Analysis, by Country/Sub-region, 2017 and 2031

Figure 22: Asia Pacific ePharmacy Market Value Share Analysis, by Product, 2017 and 2031

Figure 23: Asia Pacific ePharmacy Market Attractiveness Analysis, by Product, 2022–2031

Figure 24: Latin America ePharmacy Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031

Figure 25: Latin America ePharmacy Market Attractiveness Analysis, by Country/Sub-region, 2017–2031

Figure 26: Latin America ePharmacy Market Value Share Analysis, by Country/Sub-region, 2017 and 2031

Figure 27: Latin America ePharmacy Market Value Share Analysis, by Product, 2017 and 2031

Figure 28: Latin America ePharmacy Market Attractiveness Analysis, by Product, 2022–2031

Figure 29: Middle East & Africa ePharmacy Market Size (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031

Figure 30: Middle East & Africa ePharmacy Market Attractiveness Analysis, by Country/Sub-region, 2017–2031

Figure 31: Middle East & Africa ePharmacy Market Value Share Analysis, by Country/Sub-region, 2017 and 2031

Figure 32: Middle East & Africa ePharmacy Market Value Share Analysis, by Product, 2017 and 2031

Figure 33: Middle East & Africa ePharmacy Market Attractiveness Analysis, by Product, 2022–2031

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