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How has the digital pharmacy market grown in recent years?

The digital pharmacy market has seen exponential growth in recent years. It will increase from $139.91 billion in 2024 to $168.58 billion in 2025, with a CAGR of 20.5%. The growth can be attributed to the growing number of internet users, expanding life science research, rising demand for remote consultations, an increase in diagnostic offerings, and the rise of illegal pharmacies.

How is the digital pharmacy market size expected to evolve during the forecast period?

The digital pharmacy market is projected to see exponential growth, reaching $350.73 billion by 2029 with a CAGR of 20.1%. This growth is fueled by the rising demand for OTC products, online drug purchases, automation, and increasing prevalence of chronic conditions. Trends include digital technology adoption, e-pharmacy models, telemedicine advancements, and healthcare technology innovations.

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Which key drivers are propelling the digital pharmacy market’s growth?

The growing adoption of e-commerce in healthcare is expected to drive the digital pharmacy market. E-commerce in healthcare allows for the online purchase of healthcare products and services, offering convenience, improved patient engagement, and consumer preference. Digital pharmacies strengthen this trend by providing easy access to medications, personalized patient care, efficient prescription management, and integration with telemedicine services. For instance, in 2022, the Australian Digital Health Agency reported delivering 118.2 million telehealth services to 18 million patients. As a result, the growing adoption of e-commerce in healthcare is propelling the digital pharmacy market.

What are the market segments in the digital pharmacy industry?

The digital pharmacy market covered in this report is segmented –

1) By Product: Medicines And Treatments, Personal Care Products, Vitamins And Supplements, Other Products

2) By Drug Type: Prescription Medicines, Over-The-Counter (OTC) Products

3) By Business Model: Captive, Franchise, Aggregator

4) By Platform: App-Based, Web-Based

5) By Application: Urban Areas, Rural Areas

Subsegments:

1) By Medicines And Treatments: Prescription Medicines, Over-The-Counter (OTC) Medications, Chronic Disease Medications, Acute Disease Medications, Specialty Medications

2) By Personal Care Products: Skincare Products, Hair Care Products, Oral Care Products, Hygiene And Grooming Products

3) By Vitamins And Supplements: Dietary Supplements, Herbal Supplements, Sports Nutrition Supplements, Weight Management Supplements, Probiotics

4) By Other Products: Medical Devices (Blood Pressure Monitors, Glucose Meters), Health-Related Devices (Thermometers, Pulse Oximeters), First Aid Products, Health Testing Kits (Pregnancy Tests, DNA Tests)

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Which leading companies are shaping the growth of the digital pharmacy market?

Major companies operating in the digital pharmacy market are Walmart Inc. , Amazon.com Inc., MetLife Inc., Omnicell (OMCL) Inc., Hims & Hers Health Inc., Tata 1MG Technologies Pvt Ltd., Ro, Medminder Systems Inc., Thirty Madison Inc., Pharmacy2U Ltd, NimbleRx, PocketPills Pharmacy Inc., Nurx, Medley Pharmacy Ltd., RxSafe LLC, ScriptDrop Inc., mscripts LLC, Blink Health LLC, MedAvail Inc., Truepill, NowRx Inc., Capsule Pharmacy

What key trends are currently impacting the digital pharmacy market’s development?

Companies in the digital pharmacy market are focused on developing online digital pharmacy platforms to streamline medication management, enhance customer experience, and improve accessibility. For example, in November 2023, Pure Health launched Dawak, a digital pharmacy platform in the UAE. This platform allows users to order medications, review prescriptions, and select delivery options, while also promoting medication adherence and offering services like easy payment processing and adverse effect reporting.

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Which geographic areas are influencing the growth of the digital pharmacy market?

North America was the largest region in the digital pharmacy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital pharmacy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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