Global Online Pharmacy Market Size To Hit USD 210.35 Billion by 2028 at a 17.83% CAGR Growth (with COVID-19 Analysis): Facts & Factors

·10 min read

[230+ Pages Research Study] According to a Facts and Factors market research study, the demand analysis of Global Online Pharmacy Market size & share revenue was estimated at approximately USD 69.25 Billion in 2020 and is expected to generate revenue of around USD 210.35 Billion by the end of 2028, growing at a CAGR of around 17.83% between 2021 and 2028. 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, and others are among the key market players listed in the report, along with their sales, revenues, and strategies.

Tokyo, Japan, Jan. 17, 2022 (GLOBE NEWSWIRE) -- "Online Pharmacy Market By Product Type (Skin Care, Dental, Cold and Flu, Vitamins, Weight Loss, and Others), By Platform Type (Mobile Users, and Desktop Users), By Drug Type (OTC Medicines, and Prescription Medicines): Global & Regional Industry Perspective, Comprehensive Analysis and Forecasts, 2021 – 2028 " is the title of the latest analysis report that Facts and Factors has recently added to their research database.

“The latest research shows that the demand for global Online Pharmacy Market size & share was about USD 69.25 Billion in 2020 and is projected to reach approximately USD 210.35 Billion by the end of 2028, with a compound annual growth rate (CAGR) of roughly 17.83% from 2021 to 2028.”

Online Pharmacy market research report is a professional and in-depth investigation that focuses on market share, leading segments, primary and secondary drivers, production, and geographical analysis of the market in discussion (such as North America, South America, Europe, Asia-Pacific and Middle East & Africa.)

What is Online Pharmacy? How big is the Online Pharmacy Market?

Online Pharmacy Market Coverage & Overview:

E-pharmacies are online pharmacies that sell medications to customers over the mail or through shipping services. Telemedicine, which has provided people with access to healthcare advice via the Internet, has emerged recently as one of the most innovative technologies in the healthcare industry, according to the World Health Organization (WHO). Price transparency, raising awareness, selecting appropriate healthcare service providers, and delivering medication reminders are all made possible by technological breakthroughs that are constantly being made.

Electronic pharmacy (e-pharmacy) is another technological innovation that has shown to be a problem solver for the supply of contactless medicine, notably during pandemic days. Recently, there has been a growth in the demand for online pharmacies, and it is anticipated that this trend will continue over the projected period.

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Our Free Sample Report Consists of the following:

  • Introduction, Overview, and in-depth industry analysis are all included in the 2021 updated report.

  • The COVID-19 Pandemic Outbreak Impact Analysis is included in the package

  • About 230+ Pages Research Report (Including Recent Research)

  • Provide detailed chapter-by-chapter guidance on Request

  • Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2021

  • Includes Tables and figures have been updated

  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis

  • Facts and Factors research methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Major Market Players

  • 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 and Medlife International Pvt. Ltd

Online Pharmacy Market: COVID-19 Impact

The expansion of the Online Pharmacy Market was primarily fueled by an increase in R&D expenditures around the globe; however, the recent COVID-19 epidemic and economic downturn have altered the entire market statistics of many sectors around the world. The Online Pharmacy Market is no exception to this rule. It has benefited the worldwide online pharmacy sector. Customers rushed in huge numbers, exhibiting a keen interest in online medicine purchases. Globally, people started taking vitamin and mineral supplements as a precaution. As a result of the pandemic-induced shutdown, online drug purchases surged. Due to the pandemic's restrictions, companies and customers choose contactless delivery. This has become the new normal in the pandemic, and it is projected to remain beyond the pandemic.

Governments around the world took drastic steps, such as lockdowns, border closures, and the implementation of tight social distancing protocols, in an attempt to halt the rapid spread of the COVID-19 virus. These moves had a significant impact on the global economy, causing numerous industries to suffer. When evaluating the current and prospective market sizes and growth trends of the market for all regions and countries, the impact of COVID-19 on market demand is taken into account.

Key questions answered in this report:

  • What is the size of the online pharmacy market and what is its expected growth rate?

  • What are the primary driving factors that push the online pharmacy market forward?

  • What are the online pharmacy Industry's top companies?

  • What are the different categories that the online pharmacy Market caters to?

  • What will be the fastest-growing segment or region?

  • In the value chain, what role do essential players play?

  • What is the procedure for getting a free copy of the online pharmacy market sample report and company profiles?

Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2021−2028

  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends

  • Market Segmentation – A detailed analysis by Product Type, by Platform Type, by Drug Type, and by Region

  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Global Online Pharmacy Market: Dynamics

  • The widespread use of e-commerce platforms throughout the world

People are turning to online pharmacies because of attractive offerings such as price reductions, ease of drug availability, and home delivery options. Consumers are no longer obligated to purchase medicines through pharmacies. In addition, when information technology becomes more widely adopted in the healthcare sector, clinicians will be able to submit prescriptions electronically, boosting market development.

With a fast-growing number of smartphone users, enhanced digital infrastructure, and online payment options, the world's population is adapting to online pharmacies. Growing demand for nutritionally and functionally enhanced products, as well as the rising prevalence of vitamin insufficiency among the population, would provide the market with significant potential possibilities. Furthermore, because different brands are available on such platforms, expanding self-medication would contribute to increased sales of multivitamin pharmaceutical goods in the future. Contactless delivery has become immensely popular during the pandemic. It has been difficult for people to go outside to purchase medicines because of the lockdown restrictions. The online pharmacy market has witnessed a surge in demand and it is expected that the trend will continue, hence being a key factor to drive future growth.

Global Online Pharmacy Market: Report Scope

Report Attribute

Details

Market Size in 2020

USD 69.25 Billion

Projected Market Size in 2028

USD 210.35 Billion

CAGR Growth Rate

17.83% CAGR

Base Year

2020

Forecast Years

2021-2028

Key Market Players

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, and Medlife International Pvt. Ltd

Key Segment

By Product Type, By Platform Type, By Drug Type, and By Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

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Online Pharmacy Market: Segmentation Analysis

The global online pharmacy market is segregated into product type, platform type, and drug type.

The product type is categorized into skincare, dental, cold and flu, vitamins, weight loss, and others. In terms of platform type, the market is segmented into mobile users and desktop users. The number of desktop and laptop computers in households has increased over time. In Europe, per capita, PC penetration is increasing swiftly and steadily, with most families owning a computer. While most European countries' personal computer product life cycles have reached maturity, retail sales of desktop computers are progressively expanding. Mobile usage has increased dramatically in recent years. In 2020, global smartphone traffic increased by more than 70%. Mobile and desktop traffic levels were roughly similar in 2020.

By 2020, the number of orders placed on mobile devices will have overtaken ones placed on desktop computers. Personal computer purchases, on the other hand, cost twice as much as purchases are done on mobile devices. Based on drug type, the industry has been bifurcated into OTC medicines and prescription medicines. The over the counter (OTC) segment dominated the online pharmacy industry in 2020, but the prescription medicine segment though accounted for a lower share in the past is estimated to register a healthy CAGR during the forecast period. Because of increased health awareness and the rise of lifestyle-related disorders, the OTC category is expected to grow in upcoming years too. By 2028, global prescription medicine consumption is estimated to grow owing to an increasing focus on R&D and high spending on healthcare.

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Regional Analysis:

  • North America will dominate the regional market in terms of revenue share from 2021 to 2028

The online pharmacy market in North America is the most lucrative in terms of revenue generation. Because of the simplicity with which a wide range of medications may be obtained, increasing internet penetration is one of the region's growth drivers, which has resulted in the rapid acceptance of new technologies as well as the desire for digital health platforms. Also contributing to market expansion will be the presence of local online pharmacy players, as well as big industry players, in the region.

The European online pharmacy market accounts for a sizable portion of the worldwide online pharmacy business. In Europe, the e-Pharmacy market is expected to grow significantly over the forecast period, owing to a rise in online orders, an increase in the geriatric population, an increase in the prevalence of chronic diseases, rapid e-commerce growth, and well-developed information technology infrastructures.

Browse the full “Online Pharmacy Market By Product Type (Skin Care, Dental, Cold and Flu, Vitamins, Weight Loss, and Others), By Platform Type (Mobile Users, and Desktop Users), By Drug Type (OTC Medicines, and Prescription Medicines): Global & Regional Industry Perspective, Comprehensive Analysis and Forecasts, 2021 – 2028” Report at https://www.fnfresearch.com/online-pharmacy-market

The global online pharmacy market is segmented as follows:

Global Online Pharmacy Market - By Product Type

  • Skin Care

  • Dental

  • Cold and Flu

  • Vitamins

  • Weight Loss

  • Others

Global Online Pharmacy Market - By Platform Type

  • Mobile Users

  • Desktop Users

Global Online Pharmacy Market - By Drug Type

  • OTC Medicines

  • Prescription Medicines

Key Insights from Primary Research

  • According to analysis shared by our research team, the online pharmacy market is expected to touch annually at a CAGR of approximately 17.83% from 2021 to 2028.

  • As per primary research, it was stated that the online pharmacy market was worth about USD 69.25 Billion in 2020 and will reach revenue of roughly USD 210.35 Billion by 2028.

  • Based on Geography, “North America” is anticipated to witness the largest market share by 2028.

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