E-Pharmacy Market Trends, Growth, and Future Outlook (2024-2032) | 3M, ConvaTec Group Plc, Integra Lifesciences Holdings Corporation, Molnlycke Health Care AB

Global E-Pharmacy Market presents a variety of new trends that have a significant impact on market growth dynamics as well as the most recent industry knowledge. According to the most recent projection, global growth will reach its lowest point this year at 2.8% before edging up to 3.0% in 2024. Although more slowly than expected, the rate of global inflation will drop from 8.7% in 2022 to 7.0% this year and 4.9% by 2024. Notably, growth rates for emerging markets and developing economies have increased significantly in many cases, from 2.8 percent in 2022 to 4.5% this year.

The global e-pharmacy market size was US$ 57.1 billion in 2021. The global e-pharmacy market is forecast to grow to US$ 171.8 billion by 2030 by registering a compound annual growth rate (CAGR) of 17.1% during the forecast period from 2022 to 2030. 

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E-pharmacy refers to the pharmacy that operates over the internet. E-Pharmacy ships orders to customers via mail or shipping companies.

Factors Influencing the Market
The rising internet user base is the primary factor driving the growth of the e-pharmacy market. Apart from that, the growing geriatric population, better healthcare infrastructure, and growing consumer awareness of e-commerce will fuel the growth of the overall market during the forecast period.
A shift in consumer behaviour and a rise in the need for convenient services are some of the other factors driving the market forward. Additionally, the expanding use of digital technologies and e-commerce in the healthcare sector is anticipated to promote the market growth. Demand for e-pharmacies has surged significantly after the COVID-19 outbreak, particularly in places where stringent lockdown scenarios are in effect. Moreover, the benefits of e-pharmacies, such as convenience, cost-effectiveness, and time management will escalate the growth of the market during the forecast period.
On the flip side, the growing incidents of the sale of unapproved medications may limit the growth of the e-pharmacy market during the study period.

COVID-19 Impact Analysis
COVID-19 pandemic has resulted in a significant shift for the medical sector as the internet recorded a massive user-base throughout the period. Due to the COVID-19 pandemic, the demand for e-pharmacy services increased as governments imposed strict lockdown. Moreover, this healthcare crisis increased the need for medications, resulting in long queues outside every store. To avoid the further spread of the virus, people started adopting online ways to purchase products. Thus, the COVID-19 pandemic escalated the growth of the e-pharmacy market and is expected to offer lucrative growth opportunities in the coming years.

Regional Analysis
Europe is forecast to hold the highest share in the e-pharmacy market. The growth of this regional market is attributed to the growing use of the internet-of-things (IoT). Further, rising digitalization of the pharmaceutical industry in the region will hold tremendous potential in the coming years. In addition, people’s preference for at-home, timely services will drive the growth of the e-pharmacy market during the study period.
The Asia-Pacific e-pharmacy market will also witness potential opportunities due to the rapidly rising regional population. Furthermore, the adoption of online platforms for shopping is steadily increasing. As a result, it will be opportunistic for the market during the study period.

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Competitors in the Market
• 3M
• ConvaTec Group Plc
• Integra Lifesciences Holdings Corporation
• Molnlycke Health Care AB
• B. Braun Melsungen AG
• Baxter International INC
• Smith & Nephew Plc
• Cardinal Health
• Coloplast Corp
• Other Prominent Players

The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.

As of the end of 2022, the E-Pharmacy industry experienced notable growth in its workforce. Starting in January, employment within the E-Pharmacy sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global E-Pharmacy output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.

Forecasts indicate that the global E-Pharmacy output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global E-Pharmacy market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the E-Pharmacy market.

Market Segmentation
The global e-pharmacy market segmentation focuses on Type, Product, and Region.
By Type:
• Over-the-Counter Drugs
• Prescription Drugs

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By Product
• Skin Care
• Dental
• Cold & Flu
• Weight Loss
• Others
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
 Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
 Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America

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Table of Contents:

Chapter 1: Introduction to the Global E-Pharmacy Industry

Chapter 3: Dynamics of the Market

Chapter 4: Profiles of Leading Companies

Chapter 5: Competition in the Global E-Pharmacy Market among Players

Chapter 6: Market Size across Global Regions

Chapter 7: Application Segments in the Global Market

Chapter 8: Segment Analysis of the Global E-Pharmacy Industry

Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers

Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders

Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors

Chapter 12: Evaluation of Market Impact Factors

Chapter 13: Forecasted Global E-Pharmacy Market Size (2024-2032)

REASION TO BUY

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• In-depth Market Analysis: By scrutinizing regional market trends and drivers, the report provides a comprehensive understanding of the market landscape. It also highlights factors that might impede growth, allowing for informed decision-making.
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Key Questions Market Research and Analysis Report

• What is the current market size, both in terms of value and volume?
• What is the historical growth rate of the market, and what are the projected growth rates for the future?
• Who are the major players in the market, and what is their market share?
• What are the market trends and dynamics influencing the industry?
• What are the key drivers of market growth?
• What are the challenges and barriers faced by market participants?
• What are the emerging opportunities in the market?
• What is the competitive landscape of the market?
• What are the consumer preferences, behaviors, and buying patterns within the market?
• What is the market segmentation, and how are different market segments performing?
• What are the pricing trends and strategies in the market?
• What are the distribution channels and their effectiveness in reaching the target audience?
• What are the regulatory and legal factors impacting the market?

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