Epharmacy Market Size Share Forecast 2027
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ePharmacy, also known as electronic pharmacy or Internet pharmacy, is an online retail platform that acts as an intermediary between customers and the vendors to enable the sale of medicine. It offers round-the-clock delivery of drugs, access to comprehensive information on prescribed drugs, and transparency in prices. Patients need not physically visit the pharmacies to receive their medication, but can instead order the drugs online.
ePharmacy deals with sales and distribution of pharmaceutical and medical products through online channels. ePharmacy involves use of information, communication, and technology in medical products, and services. Any pharmacy can become a, ePharmacy as long as it has computerized serives, and active internet connection, and a working detailed website. Pharmacies can offer their products and services through online website to its customers.
The global ePharmacy market is estimated to account for US$ 81.6 Bn in terms of value in 2020 and is estimated to reach US$ 244.0 Bn by the end of 2027.
Increasing adoption of Internet is expected to propel growth of the global ePharmacy market over the forecast period. For instance, according to Pew Research Center, the percentage of households with broadband connection in the U.S. increased from 68% in January 2018 to 77% in February 2019.
Increasing geriatric population is also expected to aid in growth of the market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.
North America held dominant position in the global ePharmacy market in 2019, accounting for 35.9% share in terms of value, followed by Europe and Asia Pacific, respectively
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Table of Contents
Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
Market Purview
Report Description
Market Definition and Scope
Executive Summary
Market Snippet, By Drug Type
Market Snippet, By Distribution Channel
Market Snippet, By Region
Coherent Opportunity Map (COM)
Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Restraints
Market Opportunities
Impact Analysis
Market Trends
Regulatory Scenario
Reimbursement Scenario
Epidemiology
PEST Analysis
Recent Product Launch
Merger and Acquisition Scenario
Top players in the market
Major players in the market are focused on adopting partnership and collaboration strategies to expand their product portfolio. For instance, in December 2019, DocMorris NV partnered with KRY International AB, a healthcare company, under which electronic prescription issued through KRY app can be redeemed at the DocMorris pharmacy or an on-site pharmacy.
Major players in the market are also focused on adopting M&A strategies to expand their product portfolio. For instance, in January 2019, Zur Rose Group AG announced the acquisition of e-commerce activities of medpex, an online pharmacy, which include, Comventure GmbH, Visionrunner GmbH, medpex wholesale GmbH, and Apotheke esando B.V.
Research methodology adopted by Coherent Market Insights
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
Primary Research (Trade Surveys and Experts Interviews)
Desk Research
Proprietor Data Analytics Model
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
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