The global ePharmacy market is projected to expand at 14.3% CAGR to reach a market valuation of USD 351.9 billion by the end of 2033, up from the USD 81.5 billion recorded for 2022.
“The growth of the global ePharmacy market is being driven by pharmacies efficiency in providing affordable medicinal products as well as increased e-commerce penetration”
| Attribute | Details |
|---|---|
| ePharmacies Market Size (2023) | USD 92.4 Billion |
| Forecasted Market Value (2033) | USD 351.9 Billion |
| Value CAGR (2023 to 2033) | 14.3% |
| Collective Value Share: Top 5 Countries (2022) | 58.4% |
| Key Market Players | Netmeds Marketplace Ltd; EasyMedico; Medlife; Amazon. Inc; Apotek; The Kroger Co.; Walgreen Co.; Giant Eagle, Inc.; Walmart; Express Scripts; CVS Health; Optum, Inc.; L Rowland & Co (Retail) Ltd; Zur Rose Group AG; McKesson Corporation; SHOP-APOTHEKE EUROPE N.V.; UK Meds Direct Ltd.; Walgreens Boots Alliance, Inc.; DocMorris |
There is a rising demand for mail-order pharmaceuticals as e-commerce and internet use become more widespread. Worldwide, many online pharmacies, also called ePharmacies, offer doorstep delivery and medication dispensing for prescription and over-the-counter drugs. Since the introduction of ePharmacy, patients no longer need to visit the pharmacist, and ease of ordering over various supplier platforms has resulted in market development.
Leading ePharmacy firms also provide medications at lower costs than conventional brick-and-mortar pharmacies. As a result of more significant investment by e-commerce big players in the healthcare sector, the ePharmacy market is anticipated to grow at a significant rate over the forecast period.
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The ePharmacies market expanded at a CAGR of 12.9% during the historical period (2017 to 2022) and reached a market value of USD 81.4 billion in 2022.
A large patient pool worldwide chose doorstep delivery of medical supplies because of the unavailability of some prescription medicines at retail pharmacy stores. ePharmacies reduce the need for senior citizens and people with chronic illnesses to rely on other parties to get their medications and medical supplies. Likewise, increased internet usage and awareness are anticipated to increase ePharmacy market sales.
The growing global accessibility of the internet and online commercial platforms and their products has provided various lucrative opportunities for ePharmacy to build a large customer base in developed as well as growing economies. Furthermore, youngsters of the current population heavily rely on online shopping for products like cosmetics/cosmeceuticals and over-the-counter pharmaceuticals.
The rapid development of the internet, the rise of digital health or eHealth, the transition from direct doctor-patient interactions toward self-diagnosis, consumer experience with online purchases, the simplicity of mail-order commerce, and distance selling all contribute to the growth of the online pharmacy market.
H1-H2 Update
| Market Statistics | Details |
|---|---|
| Jan–Jun (H1), 2021 (A) | 10.89% |
| Jul–Dec (H2), 2021 (A) | 14.09% |
| Jan–Jun (H1),2022 Projected (P) | 10.37% |
| Jan–Jun (H1),2022 Outlook (O) | 11.19% |
| Jul–Dec (H2), 2022 Outlook (O) | 14.66% |
| Jul–Dec (H2), 2022 Projected (P) | 13.71% |
| Jan–Jun (H1), 2023 Projected (P) | 11.21% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | 82↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | 30↑ |
| BPS Change: H2, 2022 (O) - H2, 2022 (P) | 94↑ |
| BPS Change: H2, 2022 (O) - H2, 2021 (A) | 56↑ |
The growth of the ePharmacy market is being hampered by the existence of fraudulent online pharmacies and counterfeit products. Secondly, since these unauthorized pharmacies sell pharmaceuticals that the FDA has not approved, there is a higher chance that one will get contaminated, fake medications from them that contain the incorrect active components.
Smartphone adoption is expanding, which is helping the ePharmacy Market grow. The adoption rate of smartphones was around 65.0% in 2019 and is predicted to reach 80.0% by 2025, according to The Mobile Economy 2020.
The expanding healthcare industry and the high operating expenses have made it necessary to use ePharmacy platforms to reduce operational costs. Demand for numerous healthcare products, especially medications, is rising as chronic conditions become more common. This represents a greater opportunity of online modes of drug procurement worldwide.
Over the course of the forecast period, the market is anticipated to grow as more e-pharmacies are established in emerging nations.
An increase in internet consumers, more accessible access to web-based and online services, and an increase in the use of e-prescriptions in healthcare facilities are all factors contributing to the growth of the e-pharmacy market.
For instance, Phoenix UK acquired Co-op Health in March 2021, a digital prescription service that enables people to order medication through an application for pickup at a nearby pharmacy or home delivery. Due to the increase in service usage and expansion, such acquisitions in the e-pharmacy market are anticipated to fuel market growth.
| Country | USA |
|---|---|
| Market Share (2023) | 34.6% |
| Market Share (2033) | 44.0% |
| BPS Analysis | 938 |
| Country | China |
|---|---|
| Market Share (2023) | 6.6% |
| Market Share (2033) | 5.4% |
| BPS Analysis | -126 |
| Country | Germany |
|---|---|
| Market Share (2023) | 6.3% |
| Market Share (2033) | 7.4% |
| BPS Analysis | 102 |
| Country | Australia |
|---|---|
| Market Share (2023) | 5.9% |
| Market Share (2033) | 5.8% |
| BPS Analysis | -4 |
| Country | Japan |
|---|---|
| Market Share (2023) | 5.3% |
| Market Share (2033) | 5.1% |
| BPS Analysis | -15 |
The United States is set to hold a share of around 34.6% of the global ePharmacy Market in 2023.
Some of the key drivers driving the growth of the USA market are the rising utilization of e-commerce platforms, an ageing population, and developed healthcare infrastructure. Additionally, the majority of USA citizens are involved with ePharmacy and the evolving tendency toward the direct-to-patient approach.
The consumer-friendly online experiences made possible by the digital world as well as other advanced services are further fueling the expansion of the USA market as a whole. As a result, in December 2020, the cardiovascular pharmaceutical company, Medicure Inc., declared that it formalized a deal to acquire Marley Drug, Inc. through its wholly-owned USA subsidiary, Medicure Pharma Inc.
Germany is set to hold a share of 6.3% of the global market in 2023.
The ePharmacy market trend is anticipated to be positively impacted by the general population's reliance on online delivery of consumer products including OTC healthcare products such as vitamin pills, supplements, cosmetics, and others. Online pharmaceutical procurement is anticipated to rise in the Germany as a result of an increase in the number of patients using home care services and treatments as a result of excessive healthcare expenditure in hospitals.
China is set to hold a share of 6.6% of the global market in 2023.
In China, the e-pharmacy industry is evolving rapidly due to new rules and the entry of new competitors. Hospitals and governments are collaborating with online pharmacies on pilot projects to let patients order medications online with valid prescriptions. China's enormous population indicates numerous patients suffering from chronic diseases, and there is also an increasing public awareness of online pharmacies, all these factors are expected to uplift the market.
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Over-the-counter product segments are expected to hold a market share of 71.4% in 2023 globally.
As the general public becomes more informed and aware of the primary treatment for common ailments, the need for OTC medications will increase. Sales in the ePharmacy market will be driven by the availability of a large selection of over-the-counter drugs for numerous common disorders like the cold and flu. Additionally, a legal framework that promotes transitioning from Rx to OTC will boost category sales growth.
On the other hand, consumers are increasingly choosing OTC drugs over prescription drugs due to their increased affordability and accessibility. The factors above will increase the number of products available in the ePharmacy market.
To gain a competitive edge and solidify their market positions, market participants are exploring a number of growth strategies. The worldwide ePharmacy market is expected to have significant growth due to increasing consumer demands. Online retail platforms' easy access to regulated prescription drugs such as stimulants, painkillers, and tranquillizing hypnotics is indirectly contributing to market growth.
Recent Market Developments
Similarly, recent developments have been tracked by the team at Future Market Insights related to companies in the ePharmacy market, which are available in the full report.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; Asia-Pacific excluding Japan; and the Middle East & Africa |
| Key Countries Covered | The USA, Canada, Brazil, Mexico, Argentina, United Kingdom, Germany, Italy, Russia, Spain, France, BENELUX, India, Thailand, Indonesia, Malaysia, Japan, China, South Korea, Australia, New Zealand, Türkiye, GCC Countries, North Africa, and South Africa |
| Key Market Segments Covered | Product and region |
| Key Companies Profiled | Netmeds Marketplace Ltd.; TEasyMedico; Medlife; Amazon. Inc; Apotek; The Kroger Co.; Walgreen Co.; Giant Eagle, Inc.; Walmart; Express Scripts; CVS Health; Optum, Inc.; L Rowland & Co (Retail) Ltd; Zur Rose Group AG; McKesson Corporation; SHOP-APOTHEKE EUROPE N.V.; UK Meds Direct Ltd.; Walgreens Boots Alliance, Inc.; DocMorris |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
The ePharmacy market is valued at USD 92.4 billion in 2023.
The ePharmacy market is estimated to surpass USD 351.9 billion by 2033.
The ePharmacy market is projected to experience a CAGR of 14.3% through 2033.
The United States ePharmacy market commands 34.6% of global value in 2023.
The ePharmacy market attained a value of USD 81.4 billion by 2022, with a CAGR of 12.9%
| Market Value for 2024 | USD 23,705.60 million |
|---|---|
| Market Value for 2034 | USD 35,090.10 million |
| Market CAGR (2024 to 2034) | 4.0% |
| Market Size (2024) | USD 8,131.3 million |
|---|---|
| Market Value (2034) | USD 16,603.7 million |
| Market Projected CAGR (2024 to 2034) | 7.4% |
| Market Size (2023) | USD 1.9 trillion |
|---|---|
| Market Size (2033) | USD 3.5 trillion |
| Market CAGR (2023 to 2033) | 6.4% |
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