Pharma E-commerce Market Size, Share, Growth, And Industry Analysis, By Type (Rx and OTC), By Application (Direct Sales, Distributors, and Online), Regional Forecast To 2031

Updated On: 01 April 2024

Pharma E-commerce Market Report Overview

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The global pharma e-commerce market size was USD 12 billion in 2021 and the market is expected to reach USD 78.44 billion in 2031, exhibiting a Compound annual growth rate (CAGR) of 21.07% during the forecast period. The sudden rise in CAGR was brought on by the market's expansion and the demand levelling down after the pandemic is over.

Pharma E-commerce refers to an online pharmacy that runs on the web and dispenses medication to customers via postal and shipping services. It is also referred to as an internet pharmacy, a mail-order pharmacy, or a computer pharmacy. Telemedicine is one of the cutting-edge technologies that has made it possible for consumers to obtain medical advice via IT in the healthcare sector. Similar to this, e-pharmacy is another technical advancement that provided a solution for the delivery of contactless medicine, particularly during pandemics.

The whole health care delivery system now includes an essential role for online care and pharmaceutical retail. Over the course of the forecast period, sales in the industry will be boosted by rising expectations for reduced pricing, regulatory reforms, and discounts and incentives offered by online retail channels.

COVID-19 Impact: Choice of People to Purchase their Medication Online to Avoid Risking Contact with the Virus Increased the Market of E-commerce

Globally, the COVID-19 pandemic had shifted the emphasis of healthcare systems. Developing nations had been compelled to reevaluate their goals for urban infrastructure as a result. The challenge of containing the pandemic while simultaneously obtaining other healthcare goals was one that many governments had to deal with. For instance, India was using the urgency of combatting COVID-19 as a chance to develop stronger health systems. The government's increased emphasis on innovation and enhancements to the healthcare system as a whole supported the market growth. Online pharmacies profited the greatest from the pandemic-induced quarantine since many people chose to purchase medications online rather than risk the spread of disease, even though medical stores were categorized as important services.

Latest Trends

"Introduction of New ePharmacy to Provide Clients with Simple Access to Pharmaceutical Services "

Hyphens Pharma International Limited, Singapore's largest speciality pharmaceutical and consumer healthcare company, introduced WellAway ePharmacy on the island nation in April 2022. In addition to helping doctors with teleconsultation, WellAway provides clients with simple access to pharmaceutical services. In particular during the recent COVID-19 outbreak, this service is advantageous for patients who are elderly, bedridden, self-isolating, or simply wish to restrict their time spent with other people outside of their immediate family.

Pharma E-commerce Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Rx and OTC

• By Application Analysis

Based on application, the market can be divided into Direct Sales, Distributors and Online

Driving Factors

"Rising Digitalization and Advantages of Using an ePharmacy over Traditional Pharmacy will Drive the Growth of the Market "

The market will keep expanding after the epidemic, largely because of rising consumer adoption due to the comfort, accessibility, and affordability that these platforms provide. The industry is expected to develop in the upcoming years due to rising digitization and advantages of using a pharma e-commerce over a traditional pharmacy. A growth of the market for medical devices, personal protective equipment (PPE), health supplements, and easily accessible pharmaceuticals has also been brought on by the second wave of the COVID-19 epidemic. Customers now choose to buy online rather than go to brick-and-mortar pharmacies and diagnostic facilities, particularly in major metro areas, due to high caseloads and regional lockdowns.

"Development Strategies and Rising Investments by Several Businesses and Governments Resulting in the Broadening of the Market"

The industry of pharma e-commerce is anticipated to expand due to the growing elderly population. Easy operation, expanding digitalization, and an increase in the number of beneficiaries signing up for Medicare are a few of the elements fostering growth. For instance, approximately 26 million people are enrolled in a Medicare Advantage plan, which represents 42.0% of the overall Medicare population, according to data from the Kaiser Family Foundation that was released in June 2021. The market is expanding as a result of high funding, rising investments, and developing strategic efforts being conducted by several funding organizations, governments, and businesses.

Restraining Factors

"Presence of Fraudulent Online Pharmacies which are Not Approved by the FDA can Potentially Harm the Expansion of the Industry"

The expansion of the pharma e-commerce market growth is being constrained by the existence of some fraudulent online pharmacies. These unlicensed pharmacies offer medications that have not been approved by the FDA, which raises the risk of acquiring contaminated and falsified prescriptions from them that contain the wrong active ingredients. For instance, according to a warning given by the FDA in 2020, some online pharmacies were discovered to be involved in illegal activity and in violation of the U.S. Federal Food, Drug, and Cosmetic Act, which encompassed various points, such as the selling of un - authorized prescription drugs, the sale of prescription drugs without a prescription, the inadequate explanation of directions for the safe use of some prescription drugs, and others.

Pharma E-commerce Market Regional Insights

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"North America to Lead the Market due to the Presence of Major Industry Players and Widespread Use of Digital Technologies in the Region"

The U.S. is anticipated to hold a dominant pharma e-commerce market share in North America throughout the course of the forecast period due to the widespread use of digital technologies and the presence of major industry players who offer services on the global market. The prevalence of common illnesses including respiratory illness, the flu, backache, and cough is also driving up demand for OTC products. People choose to buy medical supplies online since they have easier access to retail devices through online channels. An increasing number of entrepreneurs and stiff competition among players in the market that offer discounts and offers have led to an increase in the number of e-pharmacies.

Over the course of the evaluation year, China is anticipated to become a desirable niche in the East Asian pharma e-commerce industry. Medicine terminal prices have been decreased to make them more affordable for everyone and drug prices have become more transparent. Additionally, mobile medication management has improved the timeliness and efficacy of purchasing and taking medications as well as disease prevention, which is anticipated to propel the China pharmaceutical e-commerce market throughout the course of the projected year.

Key Industry Players

"Employment of Various Marketing Methods by the the Key Players to Increase their Market Share "

To obtain an advantage over rivals and grow their share, major players in the pharma e-commerce sector employ a variety of marketing methods. As a further measure to increase their market share, the businesses also employ techniques including expansions, acquisitions, and alliances. PillPack, a U.S.-based online pharmacy business, was purchased by Amazon.com, Inc. in 2018. As a result, these activities suggest that the market may have room for expansion.

List of Market Players Profiled

• SHOP APOTHEKE (Netherlands)
• LloydsPharmacy (U.K.)
• Logistyx (Netherlands)
• myCARE e.K. (Germany)
• Zur Rose Suisse (Switzerlands)
• Drogaria Nova Esperança (Brazil)
• Sanicare (France)
• DocMorris (Netherlands)
• RaiaDrogasil S.A. (Brazil)
• PillPack, Inc. (U.S.)
• ITEC (Linx) (Italy)
• Pharmacy 2U (U.K.)
• Spark Solutions (U.S.)
• Walgreens Boots Alliance (U.S.)
• Doz.pl. (Poland)

Report Coverage

This report covers the pharma e-commerce market. The CAGR expected to be in during the forecast period, and also the USD value in 2021 and what it is expected to be in 2031. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.