Online Pharmacy Market Size to Reach Revenues of over $131 Billion by 2025 - Arizton
CHICAGO, Sept. 8, 2020 /PRNewswire/ -- The global online pharmacy market size is expected to grow at a CAGR of over 20% during the period 2019-2025.
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Key Highlights Offered in the Report:
1. The global online pharmacy market would realize an incremental growth of
around $88 billion in revenue between 2019 and 2025.
2. Contributing over 60% market share in 2019, North America continues to
dominate the online sales of pharma products.
3. Online sales of OTC medicines is expected to contribute over $90 billion
market revenue by 2025.
4. The growth of the online pharmacy market in Europe is expected to be in
double digits throughout the forecast period. COVID-19 pandemic has
driven the online sales in major European countries where
brick-and-mortar sales are otherwise dominant.
5. Germany continues to lead the online pharma sales in Europe. Expected
positive changes in the regulatory framework allowing online sales of Rx
medicines will drive the German market by 15% CAGR during 2019-2025.
6. APAC, led by India, China, and Japan, is expected to witness strong
traction in demand for online pharma products and will contribute an
incremental revenue of nearly $30 billion between 2019 and 2025.
Key Offerings:
-- Market Size & Forecast by Revenue | 2019-2025
-- Market Dynamics - Leading trends, growth drivers, restraints, and
investment opportunities
-- Market Segmentation - A detailed analysis by platform type, medicine
type, and geography
-- Competitive Landscape - 7 key vendors and 43 other vendors
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Online Pharmacy Market - Segmentation
-- The global OTC drugs market is likely to record the highest growth rate
in Latin America and APAC in the coming years owing to the rapidly
growing population, coupled with the growing middle-class population and
increase in disposable incomes, which will increase access to OTC
medication.
-- The rising incidence of chronic illnesses such as obesity,
cardiovascular diseases, and diabetes, would drive selling incentives
for prescription medications in the market. The rise in new diseases
would also have a high effect on the market share of prescription drugs
online.
-- The presence of desktop computers and laptops in households has
increased over the years. Consumer PC penetration per capita in North
America was increasing at a high rate and is still higher than across
the world. The penetration of PCs is increasing steadily in Europe as
most households in Europe have PC.
Online Pharmacy Market by Platform Type
-- Mobile Users
-- Desktop Users
Online Pharmacy Market by Medicine Type
-- OTC Medicines
-- Prescription Medicines
Online Pharmacy Market - Dynamics
The role of the pharmacies has been changing over the years. It is no longer just a supplier of medicines and medicinal products but also involved in the provision of other health care services. It can be found in hospitals, communities, laboratories, and academic institutions, among others. The importance of Pharmaceutical care is growing with the increase in the need and demand for self-care, such as self-medication. Self-care is gradually enhancing due to an increase in health awareness among the population in both developed and developing countries. The increase in demand for self-care is due to several factors mentioned below and is expected to increase the demand for online pharmacies, especially for OTC medicines.
Key Drivers and Trends fueling Market Growth:
-- Rise in Economic Growth, Per Capita Income, & Healthcare Expenditure
-- Increased Collaboration among Stakeholders
-- Growing Internet Penetration
-- Rising Implementation of E-Prescriptions in Hospitals and Other
Healthcare Services
Online Pharmacy Market - Geography
North America's online pharmacy industry is powered by state-of-the-art technologies and latest apps for current applications, increasing the internet of things and the introduction of cloud-based solutions in virtually any field, especially in the medical sector. The pharmacy automation market in North America is growing enormously. Pharmacy automation comprises automatic processes to handle and dispense medications, counting small objects, mixing and calculating liquids and powders for compounding, updating, and tracing records in the database and inventory management. This is expected to boost the online pharmacy market in North America during the forecast period.
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Online Pharmacy Market by Geography
-- North America
-- US
-- Canada
-- Europe
-- UK
-- Germany
-- France
-- Italy
-- Spain
-- Sweden
-- Switzerland
-- Netherlands
-- Poland
-- Russia
-- Czech Republic
-- APAC
-- China
-- Japan
-- South Korea
-- Australia
-- India
-- Latin America
-- Brazil
-- Mexico
-- Argentina
-- Middle East & Africa
-- South Africa
-- Saudi Arabia
-- UAE
Prominent Vendors
-- Zur Rose Group
-- SHOP APOTHEKE
-- Kroger
-- Walmart Stores
-- CVS Health
-- Cigna (Express Scripts)
-- Giant Eagle
Other Prominent Vendors
-- UK Meds
-- NorthWestPharmacy.com
-- Japan Health Center
-- AMX Holdings
-- BioPlus Specialty Pharmacy
-- Carepoint Pharmacy
-- Medvantx
-- parafarmacia-online
-- GoGoMeds
-- Newpharma
-- MonCoinSanté
-- MEDS
-- AZETA
-- LloydsPharmacy
-- Oxford Online Pharmacy
-- Chemist 4 U
-- Simple Online Pharmacy
-- myCARE
-- The Canadian Pharmacy
-- Juvalis
-- Apotea
-- Chemist Direct
-- Lékárna WPK
-- Pharmacy2U
-- Index Medical
-- InhousePharmacy
-- Prvalekarna
-- Cocooncenter
-- DeOnlineDrogist
-- MedExpress
-- Farmacia Internacional
-- Foundation Care
-- Lekarnar
-- BestPharmacy
-- Pharm24
-- Pharmacy4u
-- Vamida
-- Sanicare
-- 1MG Technologies
-- Netmeds
-- MedLife
-- Nunokame
-- Walgreens Boots Alliance
Explore our health & wellness profile to know more about the industry.
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About Arizton:
Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
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