The global e-pharma market is expected to reach USD
109.2 billion by 2025. The market is primarily driven by constant increase in
the number of internet users, improved access to web-based & online
services, and rapid increase in aging population who find it difficult to visit
pharmacies. Convenience, affordability, and ease in availability of medicines
are fueling market growth.
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Increase in prevalence of chronic conditions and
diseases across the globe is resulting in constant growth in demand for various
drugs and healthcare products. High cost of treatment is indicating the need to
reduce health care cost. Online pharmacies are gaining popularity owing to
lucrative offers such as price discounts that result in cost savings. In
addition, increase in adoption of e-prescriptions in hospitals and other
healthcare facilities is further expected to boost growth.
High unmet needs of emerging economies is one of the
key driving factors. Government initiatives, increase in investments, changing
regulations, and increasing penetration of internet and broadband in urban as
well as rural areas are contributing to the growth of the market. Many new
players are entering the market as the healthcare sector is offering huge
potential to the online health retailers due to the ever growing demand for healthcare
products and services.
However, growth in illegal online pharmacies is
restraining the growth. These illegitimate websites may offer counterfeit and
unapproved drugs, which make people skeptical about purchasing medicines
online.
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Further
key findings from the report suggest :
- North America held majority of the share in 2016 due to increase in online purchases, growing elderly population, and high adoption of IT in healthcare
- The U.S. is the largest market in North America owing to the presence of various key players and a large tech-savvy population
- Asia Pacific is expected to be the fastest growing segment due to the presence of emerging economies like China & India and improving infrastructure
- Some of the key players are The Kroger Co., Walgreen Co.; Wal-Mart Stores, Inc.; CVS Health; Express Scripts Holding Company; Giant Eagle, Inc.; DocMorris (Zur Rose Group); Rowlands Pharmacy; and OptumRx, Inc.
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Michelle Thoras
201 Spear Street 1100,
Suite 3036, San Francisco,
CA 94105, United States
Tel: 1-415-349-0054
Toll Free: 1-888-928-9744
Mail: sales@radiantinsights.com
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