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ePharmacy Market 2019 to Expand at a CAGR of 14.2% by 2023: Including Competitor Analysis, Industry Product Demand, Key Regions & Applications

ePharmacy

360 Research Reports offers the latest published report on “Global ePharmacy Market – Segmented by Drug Type, by Product Type, and Geography – Growth, Trends, and Forecast (2019 – 2023)” delivering key insights and providing a competitive advantage to clients through a detailed report.

Global ePharmacy Market 2019-2023 considers the past, current and future state of the industry while encapsulating modest landscape analysis, manufacturers, marketing strategies, industry effect factor analysis. An unbiased and detailed analysis of the on-going trends, opportunities/ high growth areas has been included to help stakeholders to device and align ePharmacy market strategies according to the current and future market. All enterprise profiles of the main players and brands are shown in this research. The report presents the drivers and restrictions of the market that have been explained by SWOT analysis.

ePharmacy Market Segmentation by Major Players:

CVS Health, DocMorris (Zur Rose Group AG), Express Scripts Holding Company, Giant Eagle, Inc, Optum Rx, Inc., Rowlands Pharmacy, The Kroger Co., Walgreen Co., Walmart Stores, Inc., among others.

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Overview of ePharmacy Market Report:

The global ePharmacy market is expected to witness a CAGR of 14.2% over the forecast period of 2019-2023. The key factors propelling the growth of the market studied are rise in the number of internet consumers, increased access to web-based & online services and rising implementation of e-prescriptions in hospitals and other healthcare services.

Rising Implementation of e-Prescriptions in Hospitals to propel the e-Pharmacy Market

e-Prescription is the electronic prescribing technology that allows healthcare professionals to send the prescriptions electronically instead of using handwritten prescriptions. This technology has improved the efficiency of the pharmacy operations and pharmacy management. It also reduces the chances of errors that occur because of the handwriting of the doctors. There are pharmacy software’s that check for the appropriate dosage form and the proper drug that is being given to the patient. Doctors now prefer e prescriptions because patients get ease of the access to the medicine with the help of e prescriptions. Countries like UK are putting more efforts in the implementation of the e prescription. The NHS hospitals in England are planning to go paperless by the year 2020. This will increase the e prescription rapidly in the future. Major advantage of e prescription is that, one can easily upload his e prescription on the ePharmacy website and order medicine online without any hurdle. There are ePharmacy websites that does not sell drugs or medications without prescriptions. It is quite tough for the patients to upload the handwritten paper online. Therefore, due to the increasing implementation of e prescriptions, uploading the prescription online has become easy and less time consuming. This in turn is contributing for the growth of ePharmacy market in the forecast period. Other factors such as rise in the number of internet consumers and increased access to web-based & online services are also contributing for the growth of this market.

Increasing Number of Illegal Online Pharmacies Limits the Growth of ePharmacy Market

According to the ASOP Global Foundation (Alliance for Safe Online Pharmacies), at any given time, 35,000 online pharmacy websites are active among which 96% are not legally following the laws and pharmacy standards. The counterfeit medication provided by illegal online pharmacies is manufactured under the unsafe conditions. In the year 2019, one of the Canadian online pharmacy was importing counterfeit cancer drugs and other drugs that were not approved by the regulatory body. For this, the pharmacy was fined around USD 34 million. Such instances are increasing day by day and that is the biggest factor contributing to the hindrance of the ePharmacy market. However, Organizations like ASOP Global Foundation are continuously giving attention towards such illegal online pharmacies and working towards the eradication of such pharmacies and let people buy safer online drugs. As per the American Pharmacist Association (APhA), around 36 million people from America buy prescription medicines online without the proper prescription. These circumstances are coming into picture because of the rising online pharmacies that allows people to buy drugs without prescription. Due to the availability of such illegal online pharmacies, people are getting access to the drugs that are banned to buy without prescription such as narcotics and opioids. Rising number of illegal pharmacies is having a great negative impact on ePharmacy market. However, the involvement of government and other associations in the eradication of illegal sell of online drugs is helping to reduce the number of unlawful or fake online pharmacies.

North America Holds the Largest Share in the ePharmacy Market

North America accounts for the largest share of the market studied. This can be primarily attributed to more number of internet users and higher adoptability to the online services, which are expected to augment the growth of the market studied over the forecast period.

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Reasons to Purchase the Report

  • Current and future global ePharmacy market outlook in the developed and emerging markets
  • Analysis of various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in Excel)

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    Important factors that are mentioned in the ePharmacy Market report 2023…

    Key Market Dynamics:  The Global ePharmacy Market research report provides complete forecasts on the latest market trends, development methods, and research methodologies. Some of the factors that are directly in affecting the market including the Strategic Production and Methods, development platforms, and the product model itself, and even a minute change within the product profile would result in a huge amount of changes within the mentioned factors. All of these factors are explained in detail in the research study.

    Major Growth Prospects: The report also focuses on some of the Key growth prediction, including new product launches, Mergers and Acquisitions, Research and Development, joint ventures, collaborations, agreements, partnerships, and growth of the key Manufacturers working effectively in the market, both in terms of regional and global scale depending on geography.

    Key Market Highlights:  The report gives us an in-depth Market analysis on some of the ePharmacy Market key factors, including revenue, cost, capacity, capacity utilization rate, production, production rate, consumption, supply, demand, Market share, CAGR, and gross margin. Additionally, the report presents a comprehensive study of the market growth factors and their latest trends, along with related Market sections and subsections.

    Potential Customers: The ePharmacy Market report provides significant insights to readers, service providers, suppliers, distributors, manufacturers, stakeholders, and individuals who are interested in evaluation and self-studying the ePharmacy market.

     “We also can offer a customized report to fulfill the special requirements of our clients. Regional and Countries report can be provided as well.”