The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s E pharmacy market report forecasts the E pharmacy market size to grow to $193.73 Billion by 2027, with a CAGR (compound annual growth rate) of more than 20%.

Learn More On The E Pharmacy Market Report 2023 – https://www.thebusinessresearchcompany.com/report/e-pharmacy-global-market-report

E Pharmacy Market Size Forecast
The global E pharmacy market is expected to grow from $75.04 billion in 2022 to $91.33 billion in 2023 at a compound annual growth rate (CAGR) of 21.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The e-pharmacy market size is expected to grow to $193.73 billion in 2027 at a CAGR of 20.7%.

North America held the largest E pharmacy market share, and Asia-Pacific was the fastest-growing region in 2022.

Key E Pharmacy Market Driver ­– Growth In Demand For Digital Health
For instance, in June 2021, according to the Federation of Indian Chambers of Commerce & Industry (FICCI), an India-based non-governmental trade association, before the COVID-19 pandemic, 3.5 million families purchased online pharmaceuticals and during the pandemic, the figure increased to 9 million, and by 2025, it is expected to reach 70 million. Therefore, booming digital health is driving the growth of the e-pharmacy market.

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Key E Pharmacy Market Trend – Product Innovation
Major players operating in the e-pharmacy market are focused on developing an innovative platform to strengthen their market position. For instance, in December 2021, HealthPlus, a Nigeria-based integrative pharmacy company launched West Africa’s first pharmacy and digital prescription platform that would make it easier for patients (customers) and healthcare professionals to communicate throughout the country. The launch also marks a significant step forward in Nigeria’s health democratization, delivering unparalleled healthcare access to Nigerians across the country. Customers can now use mobile devices to consult with experienced pharmacists from the comfort of their own homes.

E Pharmacy Market Segment
1) By Drug Type: Prescription Drugs, Over-the-Counter (OTC) Drugs
2) By Product Type: Skin Care, Dental, Cold and Flu, Vitamins, Weight Loss, Other Product Types
3) By Payment Method: Cash on Delivery, Online Payment
4) By Platform: App-Based, Web-Based

E Pharmacy Market Major Players and Strategies
Major players in the E pharmacy market are Walgreen Company, Express Scripts Holding Company, CVS Health Corporation, DocMorris N.V, OptumRx, PharmEasy, Tata 1mg, Netmeds, Amazon Inc., Axelia Solutions Pvt Ltd., Apex Healthcare Berhad (Apex Pharmacy), Apollo Pharmacy, Doctors Rowlands Phamacy, Optus Rx Inc., and Healthkart.

In May 2021, PharmEasy, an India-based health-tech start-up acquired MedLife for an undisclosed amount. With this acquisition, PharmEasy would become the leading participant in the domestic online pharmacy business, with the aim to service 2 million users each month. MedLife is an India-based company that provides online pharmacy, diagnostics, and e-consultation.

The E Pharmacy Global Market Report 2023 covers regional data on E pharmacy market size, E pharmacy market trends and drivers, opportunities, strategies, and E pharmacy market competitor analysis. The countries covered in the E pharmacy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

E-pharmacy refers to a business model that operates similarly to traditional pharmacies in that it deals with the preparation and sale of prescription and over-the-counter medications. On the other hand, internet pharmacies accept online orders and mail the medications to the customer. E-pharmacy allows patients to refill prescriptions and receive over-the-counter and specialized medications.

View More Reports Related To The E Pharmacy Market –
Pharmacies And Drug Stores Global Market Report 2023
MHealth Apps Global Market Report 2023
Pharmacy Inventory Management Software Solutions And Cabinets Global Market Report 2023

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