Online Pharmacy Market by Platform (Apps, Websites), by Drug Type (OTC Medicines, Prescribed Medicines), By Product Type (Beauty and personal care, Cold and Flu, Vitamins, Weight Loss, Others) and Region (Asia Pacific, Europe, North America, Middle East and Africa, Latin America), forecast period-2022 – 2028

Report ID - MRC_483 | Pages - 324 | Category - Healthcare and Pharma

Market overview

Online Pharmacy Market is projected to be worth USD 240.2 Billion by 2028, registering a CAGR of 18.4% CAGR during the forecast period (2022-2028), the market was valued at USD 56.15 Billion in 2021. App-based platforms have the largest market share in the platform segment due to the significant rise in mobile usage and internet penetration. The OTC products sub-segment have the largest market share in the platform segment due to population awareness and education about primary medication for common diseases. North American online pharmacy market dominated the global pharmacy industry due to rapid adoption of digital technologies.

An online pharmacy is a vendor that sells medicines over the internet. Independent internet-only sites, online branches of retail pharmacy stores, and sites representing pharmacy collaboration are all included in online pharmacies. This includes the sale of both prescription and nonprescription medications. The ease of purchasing, quality services, availability of a wide range of medications, and increased internet accessibility has shifted customer preferences towards online pharmacy platforms. Furthermore, a significant hike in the number of smartphone users is expected to propel the global market. This also allows e-pharmacy players to capture a diverse customer base across developed and developing economies.

Driver:

The market is being driven by the surge in the number of internet users and improved access to web-based and online services. Furthermore, an increase in the number of older people who find it difficult to go to the pharmacy every time and require medical assistance is also driving the market growth.

Restrain:

The rise in fraud activities is slightly restraining the demand of the online pharmacy market. Concerns regarding security and privacy among consumers are also challenging factors.

Opportunity:

Ease of purchasing, quality service, availability of range of medicines and increasing accessibility to internet have provided opportunity to online pharmacy. This reflects the growing global adoption of online drug purchasing channels. As certain medications are not available in retail pharmacy stores, a large patient population worldwide prefers to order them online and have them delivered to their home. Thus, providing opportunities in the online pharmacy market.

COVID-19 Impact Analysis:

The pandemic has changed the priorities of healthcare systems all over the world. It has prompted developing economies to reconsider their urban infrastructure priorities. Many countries faced the challenge of combating the pandemic while also advancing other healthcare goals. Countries such as India are turning the urgency of combating COVID-19’s spread into opportunities to build more resilient health systems. Increased government emphasis on advancement and improvement in the overall healthcare system will help to drive market growth.

Scope of the Online Pharmacy Report

Report AttributesReport Details
Study Timeline2016-2028
Market Size in 2028 (USD Billion)240.2
CAGR (2022-2028)18.4%
By PlatformApps

Websites

By Drug TypeOTC Medicines

Prescribed Medicines

By Product TypeBeauty and personal care

Cold and Flu

Vitamins

Weight Loss

Others

By geographyNorth America

·         U.S.

·         Canada

·         Mexico

Europe

·         Germany

·         France

·         U.K.

·         Russia

·         Italy

·         Spain

·         BENELUX

·         Rest of Europe

Asia Pacific

·         China

·         Japan

·         India

·         South Korea

·         Australia

·         ASEAN

·         Rest of Asia Pacific

Latin America

·         Brazil

·         Argentina

·         Chile

·         Rest of Latin America

The Middle East and Africa

·         GCC

·         Turkey

·         Israel

·         Rest of MEA

 

Online Pharmacy Market Segmentation:

By Platforms

The segment is bifurcated into apps and websites. In recent years, the rise in mobile usage and internet penetration has increased the demand for online drugs via app-based platforms. Mobile health (mHealth) has recently changed the paradigm of the online pharmacy market by providing highly efficient assistance to both healthcare professionals and patients. Furthermore, the use of mobile applications is enhancing the role of mHealth in market growth. As it provides several benefits such as adequate assistance to pharmacists, tracking of patient disease history, and the calculation of individual drug doses. Moreover, mHealth transforms smartphones into point-of-care diagnostic tools for monitoring blood pressure, which is gaining popularity among consumers.

global online pharmacy market by platform

By Drug Type

The drug type segment is divided into OTC medicines and prescribed medicines. The OTC products sub-segment is expected to grow significantly during the forecast period. Population awareness and education about primary medication for common diseases will benefit OTC sub-segment demand. The availability of a wide range of drugs for several common diseases such as colds and flu will surge the online pharmacy market. According to the Consumer Healthcare Products Association, consumers are switching from prescription drugs to OTC drugs due to improved accessibility and cost-effectiveness. As a result of the mentioned factors, there will be more growth in OTC medicines market.

global online pharmacy market by drug type

By Product Type

The segment is categorized into beauty and personal care, cold and flu, vitamins, weight loss, others. Beauty and Personal Care sub segment holds the largest share in product type segment. Consumers can buy products from the comfort of their own homes and save time by using online pharmacy. Beauty and personal care product dominate the segment as it provides complete information about the product that the customer wishes to purchase. Online pharmacy also offers discounts on products that are appealing to customers.

By Region

The region segment is divided into Asia Pacific, Europe, North America, Middle East, and Africa, and Latin America. North American online pharmacy market dominated the global pharmacy industry due to higher internet penetration and rapid adoption of digital technologies. The North American online pharmacy market had a significant revenue share in 2021, and the market is expected to grow at a modest CAGR. This can be attributed to the fact that individuals now understand how to use the internet and related services and rely heavily on online delivery of OTC. United States has the largest online pharmacy market in North America. In the coming years, the Asia Pacific and Europe will experience significant growth.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, surge in Research and Development (R&D), product innovation, and various business strategies have accelerated the growth of the market. Some of these players in Simulator Market are as follows.

Key Players

  • 1mg
  • Optum Rx. Inc
  • Netmeds Marketplace Ltd.
  • Express Scripts
  • Medlife International Pvt. Ltd.
  • Walmart stores
  • CVS health corporation
  • co
  • Rowlands Phamacy
  • DocMorris

Recent Development:

  • June 2021, Tata Digital purchased a majority stake in 1mg, an Indian epharama firm. This acquisition will allow Tata Digital to enter the epharamacy market and provide customers with high-quality health care products and services.
  • August 2020, MedLife and PharmEasy announced a merger in which MedLife will sell its operations to PharmEasy in exchange for a nearly 20% stake in the latter. This merger will allow the company to expand its operations in emerging markets.

Table of Content

  1. Introduction
    • Market Introduction
    • Market Research Methodology
      • Research Process
      • Primary Research
      • Secondary Research
      • Data Collection Technique
      • Data Sources
    • Market Estimation Methodology
      • Limitations of the Study
    • Product Picture of Online Pharmacy
    • Global Online Pharmacy Market: Classification
    • Geographic Scope
    • Years Considered for the Study
    • Research Methodology in brief:
    • Parent Market Overview
    • Overall Online Pharmacy Market Regional Demand
    • Research Programs/Design
    • Market Breakdown and Data Triangulation Approach
    • Data Source
    • Secondary Sources
    • Primary Sources
    • Primary Interviews:
    • Average primary breakdown ratio
  2. Executive Summary
    • Business Trends
    • Regional Trends
    • Platform Trends
    • Drug Type Trends
  3. Market Dynamics
    • Drivers
      • Drivers
    • Restraints
      • Restraints
    • Opportunity
      • Impact forces for market dynamics
      • Impact forces during the forecast years
    • Industry Value Chain
      • Upstream analysis
      • Downstream analysis
      • Distribution Channel
      • Direct Channel
      • Indirect Channel
    • Potential Customers
    • Manufacturing/Operational Cost Analysis
    • Pricing Analysis by Region
    • Key Technology Landscape
    • Regulatory Analysis
    • Porter’s Analysis
      • Supplier Power
      • Buyer Power
      • Substitution Threat
      • Threat from New Entry
      • Competitive Rivalry
    • PESTEL Analysis
    • Political Factors
    • Economic Factor
    • Social Factors
    • Technological Factor
    • Environmental Factors
    • Legal Factor 81
    • Covid-19 impact on Global economy
    • Covid-19 impact on Online Pharmacy demand
    • Post Covid Impact on Online Pharmacy Market Demand
    • Impact analysis of Russia-Ukraine conflict
  4. Global Online Pharmacy Market Analysis Forecast by Platform
    • Global Online Pharmacy Segment by Platform
      • Global Online Pharmacy Market Revenue Share (%), by Platform, 2021
      • Global Online Pharmacy Market Revenue (USD Billion), by Platform, 2016 – 2028
    • Global Online Pharmacy Market Revenue (USD Billion), by Platform, 2016 – 2028
      • Apps
      • Websites
  1. Global Online Pharmacy Market Analysis Forecast by Drug Type
    • Global Online Pharmacy Segment by Drug Type
      • Global Online Pharmacy Market Revenue Share (%), by Drug Type, 2021
      • Global Online Pharmacy Market Revenue (USD Billion), by Drug Type, 2016 – 2028
    • Global Online Pharmacy Market Revenue (USD Billion), by Drug Type, 2016 – 2028
      • OTC Medicines
      • Prescribed Medicines          
  1. Online Pharmacy by Regions
    • Global Online Pharmacy Market Overview, By Region
      • Global Online Pharmacy Market Revenue, By region
    • Global Online Pharmacy Market Revenue (USD Billion), 2016-2028
      • Global Online Pharmacy Market Revenue Share (%) by region, 2021
    • North America
      • North America Online Pharmacy Market Revenue (USD Billion), 2016-2028
    • Asia Pacific
      • APAC Online Pharmacy Market Revenue (USD Billion), 2016-2028
    • Europe
      • Europe Online Pharmacy Market Revenue (USD Billion), 2016-2028
    • Latin America
      • Latin America Online Pharmacy Market Revenue (USD Billion), 2016-2028
    • Middle East & Africa
      • Middle East & Africa Online Pharmacy Market Revenue (USD Billion), 2016-2028
  1. North America
    • North America Online Pharmacy Market Size by Countries
      • North America Online Pharmacy Market Revenue (USD Billion) by Countries (2016-2021)
      • North America Online Pharmacy Market Revenue (USD Billion), by Platform, 2016 – 2028
    • United States
      • S. Online Pharmacy Market Revenue (USD Billion), by Platform, 2016 – 2028
      • S. Online Pharmacy Market Revenue (USD Billion), by Drug Type, 2016 – 2028
    • Canada
    • Mexico
  2. Europe
    • Europe Online Pharmacy Market Size by Countries
      • Europe Online Pharmacy Market Size, by Platform, 2016 – 2028
      • Europe Online Pharmacy Market Size, by Drug Type, 2016 – 2028
    • France
    • UK
    • Spain
    • Russia
    • Italy
    • BENELUX
  3. Asia Pacific
    • Asia Pacific Online Pharmacy Market Size by Countries
      • Asia Pacific Online Pharmacy Market Size, by Platform, 2016 – 2028
      • Asia Pacific Online Pharmacy Market Size, by Drug Type, 2016 – 2028
    • China
    • Japan
    • Australia
    • South Korea
    • India
    • ASEAN
  4. Latin America
    • Latin America Online Pharmacy Market Size by Countries
      • Latin America Online Pharmacy Market Size, by Platform, 2016 – 2028
      • Latin America Online Pharmacy Market Size, by Drug Type, 2016 – 2028
    • Brazil
    • Argentina
    • Chile
  5. Middle East and Africa
    • Middle East and Africa Online Pharmacy Market Size by Countries
      • Middle East and Africa Online Pharmacy Market Size, by Platform, 2016 – 2028
      • Middle East and Africa Online Pharmacy Market Size, by Drug Type, 2016 – 2028
    • GCC
    • Turkey
    • South Africa
  6. Global Online Pharmacy Market by Players
    • Global Online Pharmacy Market Revenue Share (%): Competitive Analysis, 2021
      • Key entry strategies adopted by market players
      • Global Online Pharmacy Market Revenue (USD Billion), By Manufacturer 2021
      • Global Online Pharmacy Market Revenue Share (%), By Manufacturer 2021
      • Global Online Pharmacy Market Player Positioning, By Manufacturer 2021
    • Global Online Pharmacy Market: Recent Development
  7. Competitive Analysis
    • 1mg
      • Business Overview
      • 1mg Business Financials (USD Billion)
      • 1mg Online Pharmacy Product Category, Type and Specification
      • 1mg Main Business/Business Overview
      • 1mg Geographical Analysis
      • 1mg Recent Development
      • 1mg Swot Analysis
    • Optum Rx. Inc
    • Netmeds Marketplace Ltd.
    • Express Scripts
    • Medlife International Pvt. Ltd.
    • Walmart stores
    • CVS health corporation
    • co
    • Rowlands Phamacy
    • DocMorris
  8. Market Research Findings & Conclusion

Disclaimer 

Research Methodology

The Market Research Community offers numerous solutions and its full addition in the research methods to be skilled at each step. We use wide-ranging resources to produce the best outcome for our customers. The achievement of a research development is completely reliant on the research methods implemented by the company. We always faithful to our clients to find opportunities by examining the global market and offering economic insights.

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