The Online Pharmacy Market size was valued at USD 92.47 in 2023 and is estimated to reach USD 311.65 Bn by 2031 and grow at a CAGR of 16.4% over the forecast period of 2024-2031.
An online pharmacy known as an "e-Pharmacy" sells medications to clients through mail or delivery services. One of the most cutting-edge innovations in the healthcare sector is telemedicine, which has given consumers access to medical advice through the Internet. Modern technology developments help with pricing transparency, awareness-building, finding the best healthcare providers, and offering prescription reminders. E-pharmacy is another technological innovation that has helped to alleviate issues with the availability of contactless medication, notably during pandemic days. Recent years have seen a considerable rise in the demand for online pharmacies, and it is predicted that this trend will continue over the projected period. Due to alluring features including price savings, accessibility of medicine availability, and home delivery choices, people are flocking to online pharmacies. Customers are no longer required to buy medications through pharmacies. Additionally, when information technology is more generally embraced in the healthcare industry, physicians will be able to electronically submit prescriptions, which will foster market growth.
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The world's population is adjusting to online pharmacies because of a rapidly expanding smartphone user base, improved digital infrastructure, and online payment choices. The market would have a lot of potential opportunities as the demand for products with nutritional and functional enhancements grows along with the incidence of vitamin deficiency in the population. Additionally, because a variety of brands are offered on these platforms, increasing self-medication might result in higher future sales of pharmaceutical products containing several vitamins. Since the epidemic, contactless delivery has seen tremendous growth in popularity. Due to the lockdown limitations, it has been impossible for individuals to get outside and buy medications. The market for online pharmacies has seen a rise in demand, and it is anticipated that the trend will continue, making it a crucial aspect to driving future growth.
DRIVERS
Accessibility and Convenience, Rising Chronic Diseases.
Ageing Population, Technological developments.
Online pharmacies make it easy to order prescription drugs from the comfort of one's home, eliminating the need to go to a traditional pharmacy. Online pharmacies now have a larger consumer base thanks to the increasing use of the internet globally. There is a greater need for drugs as a result of the rising prevalence of chronic diseases such as diabetes, cardiovascular disease, and respiratory disorders. The ageing population frequently finds online pharmacies to be a handy alternative and needs regular medicine. The whole online pharmacy experience has been enhanced by developments in e-commerce platforms, mobile apps, and logistics.
RESTRAIN
Regulatory Obstacles and Limited Consumer Awareness Privacy and protection Concerns.
Due to different legislation in different countries, doubts about the validity of prescriptions, and worries about medication safety, online pharmacies frequently encounter regulatory obstacles. Some prospective clients could still be ignorant of the advantages and security of online pharmacies, favouring conventional brick-and-mortar pharmacies. When doing online transactions, customers may be concerned about the protection of their financial and personal information.
OPPORTUNITY
Emerging Markets Integration of Telemedicine Online Portfolio Expansion.
In emerging economies where internet usage is rising and the healthcare infrastructure is changing, pharmacies have considerable development potential. A seamless patient experience is made possible by integrating online pharmacy services with telemedicine platforms, opening up new business prospects. Online pharmacies can broaden their product selection to include over-the-counter medicines, health supplements, and personal care items in addition to prescription medications.
CHALLENGES
Traditional pharmacies' competition, fake medications, and last-Minute Delivery.
The rivalry between internet pharmacies may increase if brick-and-mortar pharmacies have an online presence. Due to the dangers that counterfeit pharmaceuticals pose to the trust and health of patients, it is still difficult to ensure the authenticity and quality of medications. Online pharmacies must have effective last-mile logistics to guarantee client happiness and retention.
In addition to the effects of the worldwide pandemic, Russia's invasion of Ukraine is currently posing a severe threat to pharmaceutical supply chains. Due to numerous importers and exporters stocking up, the cost of all active pharmaceutical ingredients (APIs) has witnessed a dramatic increase throughout the epidemic. While the epidemic is still having a major impact on the pharmaceutical business, the situation in Russia and Ukraine now presents another major obstacle. The protracted conflict between Russia and Ukraine has hurt the country's pharmaceutical industry, with commerce falling by at least 50% as many companies that ship medicines to Russia assert that they have not yet received payment.
IMPACT OF ONGOING RECESSION
Consumers become more cost-conscious during economic downturns, and price sensitivity tends to rise. Customers wishing to save money on prescription drugs may go to online pharmacies that provide competitive pricing and incentives. Consumer Behaviour Shifting Economic downturns frequently result in shifts in consumer behaviour, with an increased focus on value and convenience. With their convenience and possible cost savings, online pharmacies may be preferred by customers looking for inexpensive and hassle-free solutions. Minimal Disposable Many people may see a drop in their discretionary income during economic downturns. As a result, some customers may postpone or lower their spending on healthcare, including prescription drugs. This may have an effect on the market for internet pharmacies as a whole.
By Production Type
Skincare
Dental
Cold and flu
Vitamins
Weight loss
Others
By Platform Type
Mobile users
Desktop user
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The online pharmacy industry in North America is the one with the most revenue. The region's development drivers are increased internet penetration, which has sped up the acceptance of new technologies and generated demand for digital health platforms. This is due to the simplicity with which a broad variety of drugs may be available. The market will also grow as a result of the regional presence of large industry players and local online pharmacy operators.
A sizeable portion of the worldwide online pharmacy market is located in Europe. Due to the expanding elderly population, rising incidence of chronic illnesses, quick e-commerce expansion, and well-developed IT infrastructures, the e-Pharmacy market in Europe is predicted to grow throughout the projected period.
The major key players are Kroger Co., Wal-Mart Stores Inc, Walgreen Co, Express Scripts Holding Company, CVS Health, Giant Eagle Inc, Rowlands Pharmacy, DocMorris (Zur Rose Group AG) and OptumRx Inc, Netmeds Marketplace Ltd., DocMorris Express Scripts, Medlife International Pvt. Ltd, Flipkart, Phoenix and others.
Flipkart group:
With the introduction of Flipkart Health+ in November 2021, the Flipkart group joined the healthcare industry. In connection with this development, the business agreed to buy a majority stake in SastaSundar Marketplace Limited, which runs and controls the digital pharmacy and healthcare platform.
Phoenix group:
Phoenix Group Holdings purchased Co-op Health in March 2021. Co-op Health offers digital prescription services that allow customers to buy medication using an app or online for pickup at a nearby drugstore or home delivery.
| Report Attributes | Details |
| Market Size in 2023 | US$ 92.47 Bn |
| Market Size by 2031 | US$ 311.65 Bn |
| CAGR | CAGR of 16.4% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Production Type (Skincare, Dental, Cold and flu, Vitamins, Weight loss, Others) • By Platform Type (Mobile user, Desktop user) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Kroger Co., Wal-Mart Stores Inc, Walgreen Co, Express Scripts Holding Company, CVS Health, Giant Eagle Inc, Rowlands Pharmacy, DocMorris (Zur Rose Group AG) and OptumRx Inc, Netmeds Marketplace Ltd., DocMorris Express Scripts, Medlife International Pvt. Ltd, Flipkart, Phoenix |
| Key Drivers | • Accessibility and Convenience, Rising Chronic Diseases. • Ageing Population, Technological developments. |
| Market Restraints | • Regulatory Obstacles and Limited Consumer Awareness Privacy and protection Concerns. |
Ans: The CAGR Growth rate of Online Pharmacy Market is approx. CAGR 16.2% over the forecast.
Ans: The projected size of Online Pharmacy Market by at USD 79460.23 million in 2022 and is expected to reach USD 264118.52 million by 2030.
Ans: The major key players are The Kroger Co., Wal-Mart Stores Inc, Walgreen Co, Express Scripts Holding Company, CVS Health, Giant Eagle Inc, Rowlands Pharmacy, DocMorris (Zur Rose Group AG) and OptumRx Inc, Netmeds Marketplace Ltd., DocMorris Express Scripts, Medlife International Pvt. Ltd, Flipkart, Phoenix and others.
Ans: Due to the high frequency of chronic illnesses and widespread internet access in North America, this region has the largest online pharmacy market.
Ans: OTC drug sales are increasing in the online pharmacy market.
TABLE OF CONTENT
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Online Pharmacy Market Segmentation, By Production Type
8.1 Skincare
8.2 Dental
8.3 Cold and flu
8.4 Vitamins
8.5 Weight loss
8.6 Others
9. Online Pharmacy Market Segmentation, By Platform Type
9.1 Mobile users
9.2 Desktop user
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Online Pharmacy Market by Country
10.2.2North America Online Pharmacy Market by Production Type
10.2.3 North America Online Pharmacy Market by Platform Type
10.2.4 USA
10.2.4.1 USA Online Pharmacy Market by Production Type
10.2.4.2 USA Online Pharmacy Market by Platform Type
10.2.5 Canada
10.2.5.1 Canada Online Pharmacy Market by Production Type
10.2.5.2 Canada Online Pharmacy Market by Platform Type
10.2.6 Mexico
10.2.6.1 Mexico Online Pharmacy Market by Raw Technology
10.2.6.2 Mexico Online Pharmacy Market by Platform Type
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Online Pharmacy Market by Country
10.3.1.2 Eastern Europe Online Pharmacy Market by Production Type
10.3.1.3 Eastern Europe Online Pharmacy Market by Platform Type
10.3.1.4 Poland
10.3.1.4.1 Poland Online Pharmacy Market by Production Type
10.3.1.4.2 Poland Online Pharmacy Market by Platform Type
10.3.1.5 Romania
10.3.1.5.1 Romania Online Pharmacy Market by Production Type
10.3.1.5.2 Romania Online Pharmacy Market by Platform Type
10.3.1.6 Hungary
10.3.1.6.1 Hungary Online Pharmacy Market by Production Type
10.3.1.6.2 Hungary Online Pharmacy Market by Platform Type
10.3.1.7 Turkey
10.3.1.7.1 Turkey Online Pharmacy Market by Production Type
10.3.1.7.2 Turkey Online Pharmacy Market by Platform Type
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Online Pharmacy Market by Production Type
10.3.1.8.2 Rest of Eastern Europe Online Pharmacy Market by Platform Type
10.3.2 Western Europe
10.3.2.1 Western Europe Online Pharmacy Market by Country
10.3.2.2 Western Europe Online Pharmacy Market by Production Type
10.3.2.3 Western Europe Online Pharmacy Market by Platform Type
10.3.2.4 Germany
10.3.2.4.1 Germany Online Pharmacy Market by Production Type
10.3.2.4.2 Germany Online Pharmacy Market by Platform Type
10.3.2.5 France
10.3.2.5.1 France Online Pharmacy Market by Production Type
10.3.2.5.2 France Online Pharmacy Market by Platform Type
10.3.2.6 UK
10.3.2.6.1 UK Online Pharmacy Market by Production Type
10.3.2.6.2 UK Online Pharmacy Market by Platform Type
10.3.2.7 Italy
10.3.2.7.1 Italy Online Pharmacy Market by Production Type
10.3.2.7.2 Italy Online Pharmacy Market by Platform Type
10.3.2.8 Spain
10.3.2.8.1 Spain Online Pharmacy Market by Production Type
10.3.2.8.2 Spain Online Pharmacy Market by Platform Type
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands Online Pharmacy Market by Production Type
10.3.2.9.2 Netherlands Online Pharmacy Market by Platform Type
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland Online Pharmacy Market by Production Type
10.3.2.10.2 Switzerland Online Pharmacy Market by Platform Type
10.3.2.11 Austria
10.3.2.11.1 Austria Online Pharmacy Market by Production Type
10.3.2.11.2 Austria Online Pharmacy Market by Platform Type
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Online Pharmacy Market by Production Type
10.3.2.12.2 Rest of Western Europe Online Pharmacy Market by Platform Type
10.4 Asia-Pacific
10.4.1 Asia Pacific Online Pharmacy Market by Country
10.4.2 Asia Pacific Online Pharmacy Market by Production Type
10.4.3 Asia Pacific Online Pharmacy Market by Platform Type
10.4.4 China
10.4.4.1 China Online Pharmacy Market by Production Type
10.4.4.2 China Online Pharmacy Market by Platform Type
10.4.5 India
10.4.5.1 India Online Pharmacy Market by Production Type
10.4.5.2 India Online Pharmacy Market by Platform Type
10.4.6 Japan
10.4.6.1 Japan Online Pharmacy Market by Production Type
10.4.6.2 Japan Online Pharmacy Market by Platform Type
10.4.7 South Korea
10.4.7.1 South Korea Online Pharmacy Market by Production Type
10.4.7.2 South Korea Online Pharmacy Market by Platform Type
10.4.8 Vietnam
10.4.8.1 Vietnam Online Pharmacy Market by Production Type
10.4.8.2 Vietnam Online Pharmacy Market by Platform Type
10.4.9 Singapore
10.4.9.1 Singapore Online Pharmacy Market by Production Type
10.4.9.2 Singapore Online Pharmacy Market by Platform Type
10.4.10 Australia
10.4.10.1 Australia Online Pharmacy Market by Production Type
10.4.10.2 Australia Online Pharmacy Market by Platform Type
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Online Pharmacy Market by Production Type
10.4.11.2 Rest of Asia-Pacific APAC Online Pharmacy Market by Platform Type
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Online Pharmacy Market by Country
10.5.1.2 Middle East Online Pharmacy Market by Production Type
10.5.1.3 Middle East Online Pharmacy Market by Platform Type
10.5.1.4 UAE
10.5.1.4.1 UAE Online Pharmacy Market by Production Type
10.5.1.4.2 UAE Online Pharmacy Market by Platform Type
10.5.1.5 Egypt
10.5.1.5.1 Egypt Online Pharmacy Market by Production Type
10.5.1.5.2 Egypt Online Pharmacy Market by Platform Type
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Online Pharmacy Market by Production Type
10.5.1.6.2 Saudi Arabia Online Pharmacy Market by Platform Type
10.5.1.7 Qatar
10.5.1.7.1 Qatar Online Pharmacy Market by Production Type
10.5.1.7.2 Qatar Online Pharmacy Market by Platform Type
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Online Pharmacy Market by Production Type
10.5.1.8.2 Rest of Middle East Online Pharmacy Market by Platform Type
10.5.2 Africa
10.5.2.1 Africa Online Pharmacy Market by Country
10.5.2.2 Africa Online Pharmacy Market by Production Type
10.5.2.3 Africa Online Pharmacy Market by Platform Type
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria Online Pharmacy Market by Production Type
10.5.2.4.2 Nigeria Online Pharmacy Market by Platform Type
10.5.2.5 South Africa
10.5.2.5.1 South Africa Online Pharmacy Market by Production Type
10.5.2.5.2 South Africa Online Pharmacy Market by Platform Type
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Online Pharmacy Market by Production Type
10.5.2.6.2 Rest of Africa Online Pharmacy Market by Platform Type
10.6 Latin America
10.6.1 Latin America Online Pharmacy Market by Country
10.6.2 Latin America Online Pharmacy Market by Production Type
10.6.3 Latin America Online Pharmacy Market by Platform Type
10.6.4 Brazil
10.6.4.1 Brazil Online Pharmacy Market by Production Type
10.6.4.2 Brazil Africa Online Pharmacy Market by Platform Type
10.6.5 Argentina
10.6.5.1 Argentina Online Pharmacy Market by Production Type
10.6.5.2 Argentina Online Pharmacy Market by Platform Type
10.6.6 Colombia
10.6.6.1 Colombia Online Pharmacy Market by Production Type
10.6.6.2 Colombia Online Pharmacy Market by Platform Type
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Online Pharmacy Market by Production Type
10.6.7.2 Rest of Latin America Online Pharmacy Market by Platform Type
11 Company Profile
11.1 Kroger Co.
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 Wal-Mart Stores Inc,
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Walgreen Co,
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Express Scripts Holding Company.
11.4 Company Overview
11.4.2 Financials
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 CVS Health.
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Giant Eagle Inc.
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Rowlands Pharmacy.
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 DocMorris (Zur Rose Group AG) and OptumRx Inc.
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Netmeds Marketplace Ltd.
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Medlife International.
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
12. Competitive Landscape
12.1 Competitive Bench marking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
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