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ePharmacy Market Share 2018: Analysis By Growth Opportunities, Driving Factors, Top Manufacturers, Regions, Type and Application And Forecast to 2023 | 360 Market Updates

ePharmacy

ePharmacy Market (2018 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The ePharmacy market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.

ePharmacy Market report is anticipated to register a CAGR of 14.2% over a five years forecast period (2018 – 2023).”

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List of Major Key players operating in the Global ePharmacy Market are –

  • CVS Health
  • DocMorris (Zur Rose Group AG)
  • Express Scripts Holding Company
  • Giant Eagle
  • Inc
  • Optum Rx
  • Inc.
  • Rowlands Pharmacy
  • The Kroger Co.
  • Walgreen Co.
  • Walmart Stores
  • Inc.
  • among others.

The global ePharmacy market is expected to witness a CAGR of 14.2% over the forecast period of 2018-2023. The key factors propelling the growth of the market studied are rise in the number of internet consumers, increased access to web-based & online services and rising implementation of e-prescriptions in hospitals and other healthcare services.

Rising Implementation of e-Prescriptions in Hospitals to propel the e-Pharmacy Market

e-Prescription is the electronic prescribing technology that allows healthcare professionals to send the prescriptions electronically instead of using handwritten prescriptions. This technology has improved the efficiency of the pharmacy operations and pharmacy management. It also reduces the chances of errors that occur because of the handwriting of the doctors. There are pharmacy software’s that check for the appropriate dosage form and the proper drug that is being given to the patient. Doctors now prefer e prescriptions because patients get ease of the access to the medicine with the help of e prescriptions. Countries like UK are putting more efforts in the implementation of the e prescription. The NHS hospitals in England are planning to go paperless by the year 2020. This will increase the e prescription rapidly in the future. Major advantage of e prescription is that, one can easily upload his e prescription on the ePharmacy website and order medicine online without any hurdle. There are ePharmacy websites that does not sell drugs or medications without prescriptions. It is quite tough for the patients to upload the handwritten paper online. Therefore, due to the increasing implementation of e prescriptions, uploading the prescription online has become easy and less time consuming. This in turn is contributing for the growth of ePharmacy market in the forecast period. Other factors such as rise in the number of internet consumers and increased access to web-based & online services are also contributing for the growth of this market.

Increasing Number of Illegal Online Pharmacies Limits the Growth of ePharmacy Market

According to the ASOP Global Foundation (Alliance for Safe Online Pharmacies), at any given time, 35,000 online pharmacy websites are active among which 96% are not legally following the laws and pharmacy standards. The counterfeit medication provided by illegal online pharmacies is manufactured under the unsafe conditions. In the year 2018, one of the Canadian online pharmacy was importing counterfeit cancer drugs and other drugs that were not approved by the regulatory body. For this, the pharmacy was fined around USD 34 million. Such instances are increasing day by day and that is the biggest factor contributing to the hindrance of the ePharmacy market. However, Organizations like ASOP Global Foundation are continuously giving attention towards such illegal online pharmacies and working towards the eradication of such pharmacies and let people buy safer online drugs. As per the American Pharmacist Association (APhA), around 36 million people from America buy prescription medicines online without the proper prescription. These circumstances are coming into picture because of the rising online pharmacies that allows people to buy drugs without prescription. Due to the availability of such illegal online pharmacies, people are getting access to the drugs that are banned to buy without prescription such as narcotics and opioids. Rising number of illegal pharmacies is having a great negative impact on ePharmacy market. However, the involvement of government and other associations in the eradication of illegal sell of online drugs is helping to reduce the number of unlawful or fake online pharmacies.

North America Holds the Largest Share in the ePharmacy Market

North America accounts for the largest share of the market studied. This can be primarily attributed to more number of internet users and higher adoptability to the online services, which are expected to augment the growth of the market studied over the forecast period.

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Scope of the Report:

The report analyses ePharmacy market, which includes –

  • Analysis of the growth of ePharmacy market in global and regional level including Asia-Pacific, Americas, and EMEA.
  • The report provides ePharmacy market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
  • The report offers country level ePharmacy market volume and value by end-user segment for the period 2012-2023.
  • Qualitative analysis of key market drivers and restraints, and analysis of their impacts on ePharmacy market are discussed.
  • The report provides competitive landscape at country level for the year 2018. It also covers key policies and initiatives, key deals, and key upcoming projects.

Highlighted points of ePharmacy Market Report:

  • Varying dynamics of the ePharmacy industry.
  • Prospective changes in sales volumes and worldwide share growth in upcoming years (2018-2023).
  • ePharmacy market report recognizes the key drivers of growth and challenges of the key industry players.
  • Competitors profiles along with product description, overview, and business data.
  • A complete analysis of market risks, opportunities, limitations, and growth of the market.
  • Market driving and restraining factors.
  • Delivers information on the historical and current market size and the future potential of the market.
  • ePharmacy market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.

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Reasons to Purchase ePharmacy Market Report:

  • The report analyses how stringent emission control norms will drive the global ePharmacy market.
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
  • Study on the product type that is expected to dominate the market.
  • Study on the regions that are expected to witness the fastest growth during the forecast period.
  • Identify the latest developments, market shares and strategies employed by the major ePharmacy market players.
  • 3 months’ analyst support along with the Market Estimate sheet (in excel).

In this study, the years considered to estimate the market size of ePharmacy:

History Year: 2013-2017
Base Year: 2017
Estimated Year: 2018
Forecast Year 2018 to 2023

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