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ePharmacy Market trends research and projections for 2020- 2026

ePharmacy Market trends research and projections for 2020- 2026

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ePharmacy Market trends research and projections for 2020- 2026

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  1. Analysis of ePharmacy Market applications and company’s active in the industry • The significance of e-pharmacy platforms is anticipated to heightened in the coming years backed by rising penetration of smartphones and rapid digitalization. Consumers are steadily edging towards these platforms given to numerous offered benefits like availability of specific drugs and door step delivery. • The emergence of new and advanced digital platforms to improve accessibility of treatment to a broad spectrum of population could proliferate the demand for e-pharmacies. According to a study published by Global Market Insights, Inc., the ePharmacy market had attained a valuation of USD 59 million in 2019 and is projected to register a CAGR of 14.3% by 2026. © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  2. The ongoing COVID-19 pandemic has played a crucial role in maximizing the adoption of online pharmacy platforms. Consumers are preferring these platforms over traditional OTC pharmaceuticals as they provide contactless delivery options that elude the risk of contracting the contagious virus. According to the Federation of Indian Chambers of Commerce & Industry (FICCI), the number of e-pharmacy households in the country registered a growth from 3.5 million in Q1 of 2020 to 9 million in May 2020 during the lockdown. Additionally, nearly 19 states in India have recognized e-pharmacies as essential services. • Surging in adoption of e-pharmacies during the COVID-19 pandemic coupled with rising support from governments to encourage the use of digital platforms might massively enhance business outlook over the forthcoming years. Integration of innovative technologies to enhance the functionality of these platforms could further broaden the industry landscape for online pharmaceutical companies. • Several major e-commerce companies are entering the online pharmacy market, thereby deepening service penetration in untapped markets. Citing an instance, in August 2020, Amazon launched its online pharmacy platform in India. With this launch, it will be able to deliver its services across a broad customer range. The e-commerce giant is also planning to invest almost $100 million in India's pharmacy chain Apollo Pharmacy. This will boost its penetration in the regional e-pharmacy market. © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  3. Request for a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/3303 © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  4. Regional Analysis • North America is also considered to be a lucrative avenue for e-pharmacy companies and is predicted to showcase a 14.1% CAGR within the predicted timeframe. The region is observing a significant rise in the burden of chronic disorders among geriatric population, which could stimulate the demand for e-pharmacy platforms. Growing demand for pharmaceuticals to withstand burgeoning disease burden as well as rampant adoption of internet-based platforms could hugely benefit the local industry outlook. • Competitive Analysis • Prominent players like DocMorris, 1mg, Express Scripts, Medlife International Pvt. Ltd., and Netmeds Marketplace Ltd. are expanding their global presence by implementing strategic business initiatives like acquisition, partnerships and private funding. Taking December 2020 for instance, PharmEasy, the Indian e-pharmacy startup, is in talks with TPG Capital to sell its 7% stake for business expansion. The startup intends to use these funds to accelerate its market penetration in India. © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  5. Latest Research Report On ePharmacy Market @ https://www.gminsights.com/industry-analysis/e-pharmacy-market Request for sample of this research report@ https://www.gminsights.com/request-sample/detail/3303 Request for customization: https://www.gminsights.com/roc/3303 © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  6. Stay In Touch You can visit us at: www.gminsights.com Thank You…! © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com www.gminsights.com

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