Global Pharma E-Commerce Market – Industry Trends and Forecast to 2030

Pharma E-Commerce Market Analysis and Size

The ease of operation, more digitalization, and an increased number of beneficiaries registering under Medicare are all leading to market expansion. As per the Kaiser Family Foundation data, more than 26 million people are enrolled in a Medicare Advantage plan in 2021, resulting in 42% of the overall Medicare population. The increasing elderly population is most likely to boost the market expansion.

Data Bridge Market Research analyses that the pharma e-commerce market, which was USD 1.2 billion in 2022, would rise to USD 6.21 billion by 2030 and is expected to undergo a CAGR of 22.5% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Pharma E-Commerce Market Scope and Segmentation

Market Definition

Pharma e-commerce is an online pharmacy that operates online and distributes medicines to people through mail and shipping companies. It is also referred to as mail-order pharmacy or internet pharmacy. Telemedicine is among the most widely used technologies in the healthcare sector that has created a way for people to access healthcare advice through IT.

Global Pharma E-Commerce Market Dynamics

Drivers

• Increase in Elderly Population and Chronic Diseases

An increase in the elderly population and chronic diseases is a major trend in the market. The life expectancy of people in Europe is more than in other developed countries. The increased prevalence of chronic illnesses such as arthritis, cancer, diabetes, obesity, asthma, heart disease, and chronic obstructive pulmonary disease (COPD) among the elderly leads to their higher dependency on families and caregivers. This e-commerce platform helped the elderly greatly as it is difficult for them to step out and buy medicines. Thus, this factor boosts market growth.

Opportunities

• Increasing Demand for Omnichannel Retailing Technique

The omnichannel retailing technique by pharmacy chains is boosting market growth. With consumers' increasing adoption of online pharmacies, retail pharmacy chains globally have incorporated online services and mobile applications with their conventional platforms to provide rapid and real-time access to the retail brand. It combines physical and digital experiences with pharmacy as its touchpoint. This involves being backed by real-time inventory data and effective logistics and stock availability advice and display. Thus, this factor boosts market growth.  

• Increasing Demand for E-prescriptions

Numerous healthcare professionals are now drifting towards e-prescriptions to let patients rapidly avail medicine with the help of e-prescriptions. Countries such as the U.K. are indulging in more effort into applying e-prescriptions. For instance, Co-op Health, a digital prescription service that allows individuals to obtain medication through an app for convenient pickup at a nearby pharmacy or home delivery, was acquired by Phoenix U.K. in 2021. The app has shown major development within a short period, and PHOENIX UK will use its network of Numark and Rowlands to meet that need. Thus, this factor enhances the market growth.

Restraints/Challenges

• High Prevalence of Counterfeit Medicines

Illegal online pharmacies have become a life-threatening issue worldwide. Online pharmacies in almost all countries are operating in an unregulated manner. Medicines sold from infamous websites can be very low quality and dangerous often. In the U.K., authorities removed over 3,100 advertising websites for the illegal supply of unlicensed medicines and disrupted 3 million fake medicines and devices, costing more than USD 13 million. These major factors which impede the growth of the market

This pharma e-commerce market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the pharma e-commerce market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In 2021, Medicure Inc. announced the launch of an innovative e-commerce pharmacy platform that provides hundreds of medications directly to millions of U.S. citizens. The main goal is to go beyond the conventional framework managed by health insurers and pharmacy benefit managers

Global Pharma E-Commerce Market Scope

The pharma e-commerce market is segmented on the basis of product and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Prescription Medicine (Rx)
• Over the Counter (OTC)

End User

• Direct Sales
• Distributors
• Online

Pharma E-Commerce Market Regional Analysis/Insights

The pharma e-commerce market is analyzed and market size insights and trends are provided by product and end user as referenced above.

The countries covered in the pharma e-commerce market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the pharma e-commerce market because of the increasing adoption of e-commerce and the growing geriatric population in this region.  The growing prevalence of minor illnesses, such as backache, flu, fever, cough, and cold, increases the Demand for OTC medications. Thus, the huge dependence on online pharmacies to obtain these drugs also increases.   

Asia-Pacific is expected to witness significant growth due to the increasing number of the patient population and increasing initiatives by the government for the improvement of infrastructure in this region. Additionally, the increased concentration of key market players and the launch of advanced technologies by manufacturers to improve the experience of online medicine purchases by customers are expected to boost the market's growth.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The pharma e-commerce market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for pharma e-commerce market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the pharma e-commerce market. The data is available for historic period 2011-2021.

Competitive Landscape and Pharma E-Commerce Market Share Analysis

The pharma e-commerce market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to pharma e-commerce market.

Some of the major players operating in the pharma e-commerce market are:

• Boehringer Ingelheim International GmbH (Germany)
• AbbVie Inc (U.S.)
• Aurobindo Pharma (India)
• Pfizer Inc. (U.S.)
• Walmart Inc. (U.S.)
• Walgreen Co. (U.S.)
• Express Scripts (U.S.)
• The Kroger Co. (U.S.)
• L Rowland & Co (U.K.)
• DocMorris (Germany)
• Giant Eagle, Inc. (U.S.)
• OptumRx, Inc. (U.S.)
• CVS Health (U.S.)
• Merck & Co., Inc. (U.S.)
• Thermo Fisher Scientific (U.S.)

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