E-pharmacy Market Rapidly Develop and Emerging Growth, Industry Insights, and Forecast 2017 to 2025

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E-pharmacy Market Rapidly Develop and Emerging Growth, Industry Insights, and Forecast 2017 to 2025

August 16
18:18 2019
E-pharmacy Market Rapidly Develop and Emerging Growth, Industry Insights, and Forecast 2017 to 2025

Increasing penetration of online pharmacy due to lucrative strategies deployed by key players
E-pharmacy is also called as internet pharmacy or mail-order pharmacy. E-pharmacy companies provide both over-the-counter (OTC) dugs and prescription drugs.

Increasing investment and funding in key region such as Asia Pacific and Europe to scale up and expand their online pharmacy business and this is expected to drive growth of the global E-pharmacy market in the near future. For instance, in 2017, Zur Rose AG, a Switzerland-based online pharmacy company raised US$ 237 million to expand its business in Germany. Furthermore, the increasing usage of internet is also expected to drive the growth of market. For instance, according to data published by the World Bank around 87.5% of total population of U.K. were using internet in 2012, which has increased to 94.8% in 2016. Strategies deployed by major E-pharmacy key players such as free delivery, and lucrative offers and discounts is also expected to increase the adoption of E-pharmacy by population.

For instance, in April 2018, Netmeds, an India-based E-pharmacy startup, is providing 20% discounts offers on its medicines. Moreover, these kinds of discount are widely aiding in growth of the market. Increasing prevalence of lifestyle diseases such as high blood pressure, diabetes, cardiovascular diseases, and obesity etc. is also expected to increase demand from products from E-pharmacy. For instance, according to data published by World Health Organization (WHO), globally, the number of people with diabetes increased from 108 million in 1980 to 422 million in 2014. According to WHO in 2017, cardiovascular diseases is the leading cause of death worldwide, about 17.7 million died from cardiovascular diseases in 2015.

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For instance, according to data published by the World Bank around 87.5% of total population of U.K. were using internet in 2012, which has increased to 94.8% in 2016. Strategies deployed by major E-pharmacy key players such as free delivery, and lucrative offers and discounts is also expected to increase the adoption of E-pharmacy by population.

For instance, in April 2018, Netmeds, an India-based E-pharmacy startup, is providing 20% discounts offers on its medicines. Moreover, these kinds of discount are widely aiding in growth of the market. Increasing prevalence of lifestyle diseases such as high blood pressure, diabetes, cardiovascular diseases, and obesity etc. is also expected to increase demand from products from E-pharmacy. For instance, according to data published by World Health Organization (WHO), globally, the number of people with diabetes increased from 108 million in 1980 to 422 million in 2014. According to WHO in 2017, cardiovascular diseases is the leading cause of death worldwide, about 17.7 million died from cardiovascular diseases in 2015.

In 2017, Medlife, an India-based E-pharmacy company, invested a total amount of US$ 30 million to support and enhance its E-pharmacy business. In 2017, Medsonway Solutions Pvt. Ltd, an India-based online pharmacy company, raised US$ 600,000 from RPG Ventures, the venture capital arm of RPG Group. The company will use this funding to expand its business across India.

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In 2017, 1mg, an India-based online pharmacy company received US$ 15 Mn funding in Series C round. In 2017, Zur Rose AG, a Switzerland-based online pharmacy company, launched its initial public offering (IPO). The company plans to use the funds raised through IPO to strengthen its position in Europe E-pharmacy market. This increasing investment will support expansion of the business and hence, these companies will be able to cater more customers, which results in growth of E-pharmacy market in the near future.

Moreover, some players in the market are focusing on inorganic growth model. For instance in 2016, online pharmacy company 1mg, acquired an India-based company, Medd. With this strategic acquisition, 1mg increased its offerings by providing diagnostic services to its customers. 1mg customers can book and appoint home sample collection and receive test results online. Furthermore, companies in the market are also focusing on expanding its business in new geographies, remain competitive in the market. For instance, in 2016, 1mg expanded its online pharmacy business across 30 cities in India with the help of funding’s raised by HBM Healthcare Investments.

Major players operating in the E-pharmacy market include The Kroger Co., The Walgreen Company, Express Scripts Holding Company, CVS Health, Zur Rose Group AG, Giant Eagle, Inc., Walmart Stores, Inc., OptumRx Inc., 1mg, and Netmeds.

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