E pharmacy market

E-pharmacy Beauty and Personal Care (BPC) Market, By product (Over the counter, Prescriptive medicines), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, Africa)

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Mar 2023
CMI2561
140 Pages
Excel & Pdf
Consumer Goods

Summary

The Global E-pharmacy Beauty and Personal Care (BPC) Market is valued at US$ 60.99 Billion in 2022, and it is anticipated to attain a value of US$ 264 Billion by 2030, at a CAGR of 20.1 % over the forecast period (2023 - 2030). However, the present COVID-19 outbreak and economic downturn have had an impact on the overall market statistics of various businesses globally. The growth of the online pharmacy market has been substantially driven by an increase in R&D spending globally. People throughout the world started taking vitamin and mineral supplements as a precaution. Governments all across the world implemented extreme measures like lockdowns, border closures, and the establishment of stringent social distancing regulations in an effort to slow the rapid spread of the COVID-19 virus. These choices had a significant impact on the world economy, which negatively impacted many industries. When analyzing current and projected market sizes and growth patterns for all regions and countries, the impact of COVID-19 on market demand is taken into account.

E-pharmacy Beauty and Personal Care (BPC) Market- Regional Insights

The E-pharmacy Beauty and Personal Care (BPC) Market is dominated by North America, and this trend is anticipated to continue over the forecast period. The major portion of the market under investigation comes from North America. This can be primarily attributed to the higher number of internet users and higher adoption of online services, which are expected to augment the market's growth over the forecast period. For instance, in February 2022, Medicure Inc. launched its national direct-to-consumer e-commerce pharmacy platform through its subsidiary, Marley Drug Pharmacy, in the U.S. With this, Americans can buy FDA(Food and Drug Administration)-approved pharmaceuticals at bargain prices on Marley Drug's new e-commerce website, which offers home delivery to all 50 states.

Figure 1. Global E-pharmacy Beauty and Personal Care (BPC) Market (%), By Region 2022

E-pharmacy Beauty and Personal Care (BPC) Market- Growth Drivers

Safety and authenticity of the medicines provided

Since it enables clients to buy medications from licenced distributors and well-managed e-commerce platforms, the E-pharmacy Beauty and Personal Care (BPC) Market is becoming more and more popular.This service mitigates the issues of buying poor and counterfeit products from illegal distributors.Ease of access and ease of payment makes this market convenient to use

E-pharmacies can assist secure the provision of authentic and approved pharmaceuticals (a wide range of drugs that are safe for use) at reasonable rates (by removing intermediaries and giving discounts) and with greater ease of access (online platform, home delivery, and improved digital payment infrastructure). As a result of the convenience and value they provide, E-Pharmacies are predicted to be generally embraced in any specified region.

E-pharmacy Beauty and Personal Care (BPC) Market Report Coverage

Report Coverage	Details
Base Year:	2022	Market Size in 2022:	US$ 60.99 Bn
Historical Data for:	2017 to 2021	Forecast Period:	2023 to 2030
Forecast Period 2023 to 2030 CAGR:	20.1%	2030 Value Projection:	US$ 264 Bn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By product: Over the counter, Prescriptive medicines
Companies covered:	LLOYDS Pharmacy Limited, Pharmacy2u Ltd., Gordons Direct, Shop Apotheke, CVS Health, Walgreen Company, Family meds, Inc., The Medicine Shoppe Pharmacy, Cardinal Health, and Rite Aid Corporation
Growth Drivers:	Safety and authenticity of the medicines provided Ease of access and ease of payment.
Restraints & Challenges:	Vulnerable to personal data breaches and other cyber threats Lack of legislative framework for E-Pharmacies

E-pharmacy Beauty and Personal Care (BPC) Market- Market Restraints

Vulnerable to personal data breaches and other cyber threats

To provide a flawless consumer experience, these online platforms rely substantially on useful insights obtained from user data (personal details, purchasing habits, etc.). As a result, this data is vulnerable to data breaches and other cyber threats.

Lack of legislative framework for E-Pharmacies

Due to the lack of a specific regime for these participants, the regulatory framework governing the offline sale of pharmacies also rules e-Pharmacy. To safeguard the interests of customers and to act as a backbone in encouraging growth in this sector, the government must establish a separate legislative framework for E-Pharmacies in the near future.

Figure 2. Global E-pharmacy Beauty and Personal Care (BPC) Market (%), By Product 2022

Based on the product, the global market segments for this particular market include prescription medicine and over the counter products. The over the counter segment dominated the ePharmacy industry in 2022. The prescription medicine segment accounted for a lower share of the market in 2022 but is estimated to grow at a faster rate during the forecast period. Based on geography, the market segments include North America, Europe, Asia Pacific, and rest of the world.

E-pharmacy Beauty and Personal Care (BPC) Market- Recent developments

In September 2022, Amazon stated that it was planning to sell prescription medications online in Japan. To build a platform where patients can get online instructions on taking medications, it aims to collaborate with small and medium-sized pharmacies. Without visiting a pharmacy, customers could have their drugs delivered to their homes.

https://www.coherentmarketinsights.com/market-insight/over-the-counter-drugs-market-1218

In September 2022, Walmart Canada and Canada Health Infoway entered a partnership. Infoway's PrescribeIT electronic prescribing service is now accessible in 14 Walmart Canada pharmacies in Ontario, Alberta, Saskatchewan, and New Brunswick, with plans to expand to additional locations by the end of 2022.

https://www.coherentmarketinsights.com/market-insight/retail-media-network-market-3741

E-pharmacy Beauty and Personal Care (BPC) Market-Key Players

Few of the major companies operating in the global e-pharmacy beauty and personal care (BPC) market include LLOYDS Pharmacy Limited, Pharmacy2u Ltd., Gordons Direct, Shop Apotheke, CVS Health, Walgreen Company, Familymeds, Inc., The Medicine Shoppe Pharmacy, Cardinal Health, and Rite Aid Corporation.

Table of Content

Table of Contents

* Browse 11 market data tables* and 8 figures* on "E-pharmacy (BPC) Market” - Global forecast to 2030.

Segmentation

Detailed Segmentation:

Global E-pharmacy Beauty and Personal Care (BPC) Market, By Product type
- Over the counter
- Prescriptive medicines
Global E-pharmacy Beauty and Personal Care (BPC) Market, by Region
- North America
  - U.S.
  - Canada
  - Mexico
- Latin America
  - Brazil
  - Mexico
  - Argentina
  - Rest of Latin America
- Europe
  - U.K.
  - Germany
  - Italy
  - France
  - Spain
  - Russia
  - Rest of Europe
- Asia Pacific
  - China
  - India
  - Japan
  - Australia
  - South Korea
  - ASEAN
  - Rest of Asia Pacific
- Middle East & Africa
  - Middle East
  - Africa

- Frequently Asked Questions -

What are the growth estimates for the e-pharmacy beauty and personal care (BPC) market till 2030?

The global e-pharmacy beauty and personal care (BPC) market is estimated to surpass US$ 264 Billion by 2030.

Which are the prominent market players across the globe?

Major players operating in the market include LLOYDS Pharmacy Limited, Pharmacy2u Ltd., Gordons Direct, Shop Apotheke, CVS Health, Walgreen Company, Family meds, Inc., The Medicine Shoppe Pharmacy, Cardinal Health, and Rite Aid Corporation.

What are the key factors hampering growth of the market?

Vulnerable to personal data breaches and other cyber threats and the lack of legislative framework for E-Pharmacies are the key factors hampering the growth of the e-pharmacy beauty and personal care (BPC) market.

What are the key factors driving growth of the market?

Safety and authenticity of the medicines provided, ease of access, and ease of payment make this market convenient to use and are the key factors driving the growth of the market.

What is the compound annual growth rate (CAGR) of the market for the next 8 years?

The global e-pharmacy beauty and personal care (BPC) market is estimated to exhibit a CAGR of 20.1% over the forecast period.

Which region held the largest market share in the market?

Among regions, North America accounted for the largest revenue share and contributed for 45% in the market, in 2022.