The e-pharma market is projected to grow at a CAGR of 18.90%, with an estimated market size of USD 50.5 billion in 2021 to USD 142.7 billion by 2028. Rising government initiatives, changing regulations, rising prevalence of e-prescriptions, increasing internet penetration in urban and rural areas, and rising use of emerging technologies like artificial intelligence (A.I.) and machine learning (ML) are all major factors accelerating the market growth. These technologies also help ensure customer satisfaction by way of recommendation engines. Additionally, the pharmaceutical industry's growing usage of e-commerce platforms is now driving market expansion. The expansion of the global market is also being aided by an expanding range of in-app features, such as exclusive discounts, personalized purchases, faster delivery, etc. The market is also growing due to improved internet access and the extensive usage of smart devices.

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e-Pharma Market Dynamics

Drivers: Rise in the geriatric population

The rise of the global e-pharma market is driven by the rising prevalence rates of lifestyle illnesses, including diabetes and obesity, rising healthcare spending, and the quickly expanding diagnostic industry. The e-pharma business is also driven by the aging population, rising demand for laboratory automation, and increased awareness of preventative healthcare. Additionally, growing R&D in the healthcare industry, growing geriatric population bases in emerging regions, and growing technical improvements and modernization in the healthcare industry will all lead to new opportunities for the e-pharma market.

Restraints: Presence of illegitimate online pharmacies

The market's expansion is being hampered by the existence of some fraudulent internet pharmacies. The likelihood of acquiring fake and contaminated drugs from these unlicensed pharmacies with erroneous active ingredients rises since they sell drugs that the FDA has not approved. For instance, according to a warning the FDA issued in 2020, some online pharmacies were discovered to be engaging in illegal activity and violating the United States Federal Food Drug, and Cosmetic Act. These violations included some points, such as the sale of prescription drugs that the FDA had not approved, the sale of prescription drugs without a prescription, the inadequate explanation of how to use some prescription drugs safely, etc.

Opportunities: Spread of COVID-19

The COVID-19 pandemic is predicted to cause a dramatic increase in the market. Due to the travel bans and lockdowns, as well as the concern over contracting SARS-CoV2, more people were turning to online pharmacies to buy prescription and OTC medications. Additionally, virtual-based teleconsultations are taking the place of in-person medical appointments and producing digital prescriptions. Similar to this, important players are developing various tactics to combat the epidemic. Due to the COVID-19 epidemic and the move toward non-contact delivery.

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The legitimate internet pharmacy category is estimated to be the largest growth in the steam engine market during the forecast period

The legitimate internet pharmacy category dominated the market. This kind of pharmacy typically holds a domestic license and abides by local laws rather than international laws. By eliminating intermediaries and offering savings, e-pharmacies can help assure the distribution of genuine and approved pharmaceuticals (a wide selection of safe treatments) at affordable prices and with increased accessibility (online platform, home delivery & improved digital payment infrastructure). E-pharmacies are anticipated to be widely accepted in our nation due to their ease and value. They are safe to use, thus driving the growth of the market.

Generic is estimated to be the largest growing market category during the forecast period

The generic segment is projected to grow fastest during the forecast period despite having the same composition and potency as branded medications because it is less expensive. Growing technologies like artificial intelligence (A.I.) and machine learning (ML) that use recommendation engines to assure consumer satisfaction contribute to the market's expansion. The market is divided into over-the-counter and prescribed applications in terms of usage.


Key Market Players

The e-pharma market is dominated by a few global players and comprises several regional players. Some key manufacturers operating in the market are Boehringer Ingelheim International GmbH (Germany), AbbVie Inc (U.S.), Aurobindo Pharma (India), Pfizer Inc. (U.S.), Walmart Inc. (U.S.), Walgreen Co. (U.S.), Express Scripts (U.S.), The Kroger Co. (U.S.), L Rowland & Co (U.K.), DocMorris (Germany), Giant Eagle, Inc. (U.S.), OptumRx, Inc. (U.S.), CVS Health (U.S.), Merck & Co., Inc. (U.S.) and Thermo Fisher Scientific Inc. (U.S.).

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