ePharmacy Market share by applications and regions for 2020- 2026

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Analysis of ePharmacy Market applications and
companys 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.

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• 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.

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• 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.

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