How big is the ePharmacy industry?Posted by Susan Hill on July 22nd, 2019 The global ePharmacy market is expected to reach USD 109.2 billion by 2025, according to a new report by Grand View Research, Inc. 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. 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. Further Key Findings from the Report Suggest:
Grand View Research has segmented the ePharmacy market on the basis of region: e-Pharma Regional Outlook (Revenue, USD Million, 2014 - 2025)
Access full research report on global ePharmacy market: https://www.grandviewresearch.com/industry-analysis/epharmacies-market Like it? Share it! More by this author |