Global Digital Pharmacy Market (2022 to 2027) - Benefits of E-Commerce Presents Opportunities

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Jun 30, 2022, 10:15 ET

DUBLIN, June 30, 2022 /PRNewswire/ -- The "Digital Pharmacy Market by Drug (Rx, OTC), Product (Medicine, Personal Care, Vitamins & Supplements, Diabetes, CVD, Oncology), Platform (Apps, Websites), Business Model (Captive, Franchise, Aggregator), Geographic (Urban, Rural) - Global Forecasts to 2027" report has been added to ResearchAndMarkets.com's offering.

The digital pharmacy market is expected to reach USD 211.9 billion by 2027 from USD 96.5 billion in 2022, at a CAGR of 17.0% during the forecast period.

Over-the-counter (OTC) products segment is estimated to grow at the highest rate during the forecast period

On the basis of drug type, the digital pharmacy market is segmented into prescription medicines and over-the-counter products. Prescription medicines accounted for the largest share of the global digital pharmacy market in 2021. The large share of this market segment can be attributed to factors such as the growing prevalence of several chronic disorders and the subsequent growing demand for medications.

On the other hand, the over-the-counter (OTC) products segment is expected to grow at the highest CAGR during the forecast period. Growth in this market segment is largely driven by the widespread availability and cost-effectiveness of over-the-counter products and the growing trend of self-medication.

The Medicines & Treatments segment is expected to account for the largest share of the Digital Pharmacy market in 2021

On the basis of products, the digital pharmacy market is segmented into medicines & treatments, personal care products, vitamins & supplements, and other products. The medicines & treatments segment accounted for the largest share of the global digital pharmacy market in 2021.

However, the vitamins & supplements segment is expected to register the highest CAGR during the forecast period due to increase prevalence of chronic diseases and the availability of multiple product options.

Appssegment in the platform is expected to account for the largest share of the global digital pharmacy market

On the basis of platforms, the digital pharmacy market is segmented into apps and websites. In 2021, apps is expected to hold the largest share of the global digital pharmacy market, growth in this segment is attributed to factors as the apps offering lucrative promos or discounts to attract customers. The website platform is estimated to grow at the second-highest CAGR during the forecast period due to convenience, privacy, and safety offered by websites are key factors driving the market growth.

Captive segment among the business model accounted for the largest share of the global digital pharmacy market in 2021

On the basis of business models, the digital pharmacy market is segmented into captive, franchise, and aggregator business models. The captive business model accounted for the largest share of the global digital pharmacy market in 2021 The captive business model is also estimated to register the highest CAGR during the forecast period. The flexibility, accessibility, and affordability of captive business models are key factors to segmental growth in the digital pharmacy market. The aggregator business model is estimated to grow at the second-highest CAGR during the forecast period.

The Urban areas accounted for the largest share of the global digital pharmacy market in 2021

On the basis of geographic coverage, the digital pharmacy market is segmented into urban and rural areas. Urban areas accounted for the largest share of the global digital pharmacy market in 2021 due to the growing penetration of the internet in urban areas.

North America to dominate the digital pharmacy market during the forecast period

North America accounted for the largest share of the digital pharmacy market in 2022. The growing prevalence of chronic conditions, the rising number of drug prescriptions resulting from the rapidly growing aging population, and the presence of key market players in the region are the key factors driving the growth of the digital pharmacy market in North America.

The Asia Pacific market is projected to register the highest CAGR during the forecast period, owing to the growing disease burden, growing patient population, and the rapidly growing pharmaceutical market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Digital Pharmacy Market Overview
4.2 Digital Pharmacy Market, by Product
4.3 North America: Digital Pharmacy Market, by Drug & Country (2021)
4.4 Geographical Snapshot of the Digital Pharmacy Market
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Increasing Consumer Preference Toward Buying Online Medicines During and Post the COVID-19 Pandemic
4.5.1.2 Consolidation in the Market and Partnerships
4.5.1.3 Growing Geriatric Population
4.5.2 Restraints
4.5.2.1 Growing Number of Illegal Pharmacies
4.5.2.2 Risk of Counterfeit Drugs
4.5.2.3 Increased Risk of Drug Abuse
4.5.3 Opportunities
4.5.3.1 Emerging Markets
4.5.3.2 Benefits of E-Commerce
4.5.4 Challenges
4.5.4.1 Challenges for Patients Relying on Pharmacists for Clinical Support
4.5.4.2 Lack of Strong National Laws Worldwide
4.5.4.3 Security and Privacy Concerns
4.6 Value Chain Analysis
4.7 Ecosystem Analysis
4.8 Porter's Five Forces Analysis
4.9 Pricing & Reimbursement Analysis
4.10 Technology Analysis
4.11 Industry Trends
4.11.1 Online Prescription Refill
4.11.2 Virtual Healthcare Services
4.11.3 Digital Health Diagnostic Tools
4.12 Key Conferences & Events in 2021-2022
4.13 Regulatory Analysis
4.14 Case Studies
4.14.1 Magento 2 Web App Modernization
4.14.1.1 Use Case 1: Need to Revamp Online Store
4.14.2 Walmart React Native Pharmacy
4.14.2.1 Use Case 2: Need to Rebuild Pharmacy App
4.15 Impact of COVID-19 on the Digital Pharmacy Market

5 Digital Pharmacy Market, by Drug Type
5.1 Introduction
5.2 Prescription Medicines
5.2.1 Growing Geriatric Population and Subsequent Increase in Chronic Diseases to Drive the Demand for Prescription Medication
5.3 Over-The-Counter Products
5.3.1 Ease of Use and Convenience Associated with Over-The-Counter Products to Drive Market Growth

6 Digital Pharmacy Market, by Product
6.1 Introduction
6.2 Medicines & Treatments
6.2.1 Diabetes Care
6.2.1.1 Growing Global Diabetic Population Will Ensure Strong Demand for Diabetes Care Medicines & Treatments
6.2.2 Heart Care
6.2.2.1 Rising Incidence of Cardiovascular Diseases Drives the Demand for Heart Care Medicines & Treatments
6.2.3 Oncology
6.2.3.1 Increasing Prevalence of Cancer is a Major Factor Driving the Growth of this Market Segment
6.2.3.2 Other Medicines & Treatments
6.3 Personal Care Products
6.3.1 Growing Focus on Personal Health & Hygiene to Drive Market Growth
6.4 Vitamins & Supplements
6.4.1 Growing Demand for Immunity-Associated Supplements in the Wake of the COVID-19 Pandemic to Drive Market Growth
6.5 Other Products

7 Digital Pharmacy Market, by Platform
7.1 Introduction
7.2 Apps
7.2.1 Advantages Such as Contactless Delivery Will Drive the Demand for Apps
7.3 Websites
7.3.1 Promotions, Discounts, and Offers Provided by Websites to Drive Market Growth

8 Digital Pharmacy Market, by Business Model
8.1 Introduction
8.2 Captive
8.2.1 Flexibility, Accessibility, and Affordability of Captive Models - Key Factors Driving Market Growth
8.3 Franchise
8.3.1 Growing Number of Pharmacy Franchises to Drive Market Growth
8.4 Aggregator
8.4.1 Quality Services Associated with Aggregator Models to Drive Market Growth

9 Digital Pharmacy Market, by Geographic Coverage
9.1 Introduction
9.2 Urban Areas
9.2.1 Rapid Internet Penetration in Urban Areas to Drive Market Growth in this Segment
9.3 Rural Areas
9.3.1 Government Initiatives to Fuel the Demand for Digital Pharmacies in Rural Areas

10 Digital Pharmacy Market, by Region

11 Competitive Landscape
11.1 Overview
11.2 Key Player Strategies/Right to Win
11.2.1 Overview of Strategies Adopted by Players in the Digital Pharmacy Market
11.3 Revenue Share Analysis of the Top Market Players
11.4 Market Ranking
11.5 Competitive Benchmarking
11.5.1 Overall Company Footprint
11.5.2 Company Drug Type Footprint
11.5.3 Company Product Footprint
11.5.4 Company Platform Footprint
11.5.5 Company Regional Footprint
11.6 Competitive Leadership Mapping
11.6.1 Stars
11.6.2 Emerging Leaders
11.6.3 Pervasive Players
11.6.4 Participants
11.7 Competitive Leadership Mapping: Start-Ups/SMEs
11.7.1 Progressive Companies
11.7.2 Starting Blocks
11.7.3 Responsive Companies
11.7.4 Dynamic Companies
11.8 Competitive Situations and Trends
11.8.1 Product/Service Upgrades
11.8.2 Deals
11.8.3 Other Developments

12 Company Profiles
12.1 Key Players
12.1.1 Cvs Health
12.1.2 Cigna
12.1.3 Optum, Inc. (Part of the UnitedHealth Group)
12.1.4 Walgreen Co.
12.1.5 Walmart Inc.
12.1.6 The Kroger Co.
12.1.7 Giant Eagle, Inc.
12.1.8 Amazon.Com, Inc.
12.1.9 Pharmeasy
12.1.10 Apex Pharmacy
12.1.11 Apollo Pharmacy
12.1.12 Rite Aid Corp
12.1.13 Costco Wholesale Corporation
12.2 Shop-Apotheke.Com
12.2.1 Netmeds.Com
12.2.2 Docmorris
12.2.3 Tata 1Mg
12.2.4 Lloydspharmacy
12.2.5 Goodrx, Inc.
12.2.6 Healthwarehouse.Com
12.2.7 Telus Health
12.2.8 Pharmex Direct Inc.
12.2.9 Hims & Hers Health, Inc.
12.2.10 Ro Pharmacy
12.2.11 Rx Outreach
12.2.12 The Independent Pharmacy
12.2.13 Rexall Pharmacy Group Ulc
12.2.14 Northwestpharmacy.Com