The global ePharmacy market is anticipated to acquire a market value of USD 164,829.5 million while expanding at a CAGR of 12.5% by 2027, evaluates Market Research Future (MRFR).
The increasing penetration of e-commerce and the usage of internet are expected to drive the global ePharmacy market during the analysis term. Various online pharmacies offer doorstep delivery, which provides comfort to the consumer that can augment the market in the coming time.
The growing reach of e-commerce has allowed the ePharmacy to expand its consumer base in developing countries. There are several startups entering the market due to the rising demand for medicines. All these factors cumulatively are anticipated to augment the global ePharmacy market growth during the review time.
On the contrary, the strict rules and regulations for selling prescribed drugs through online channels are expected to hamper the market growth in the coming time. Furthermore, not all countries in the world have legalized sales of prescription drugs through online sites.
The unmonitored sale of prescription medicines is likely to prohibit online pharmacy and negatively impact the global revenue in the assessment tenure.
COVID-19 to Boost ePharmacy Culture
The outbreak of COVID-19 has brought a positive impact on the market during the forecast period. The lockdown imposed across the globe resulted in the increased popularity of ePharmacies.
The players such as mChemist, SaveMyMeds, Zigy, and others earned profit during the COVID-19 era.
The reluctance caused among consumers owing to the fear of the virus aided significantly in driving the market in the pandemic period. The key players of the market are making an active contribution during the COVID-19 era.
In recent news, Kroger, a US-based company, will be the first federal pharmacy to partner in Indiana for the COVID-19 vaccine.