Increasing use of internet in day to day life is anticipated to be the triggering factor for the growth of ePharmacies market. Rising number of tech-savvy people, easy accessibility, cost effectiveness and round the clock availability of drugs are the main drivers of ePharmacy market. Increasing variability in drugs and introduction of novel therapeutics has created a gap between the demand and the supply of prescribed drugs, expected to accentuate demand for this market.
ePharmacy market is bifurcated on the basis of its application into IT software market and SCM market. IT software can be further segmented into readymade software market, modified software market and customized or tailor made software market. Among these tailor made software market are the most expensive and readymade software market is most convenient. Tailor made software solutions is expected to gain popularity in near future owing to the growing trend of customization. Software is used to receive order of drugs and tracking the drugs from inventory to various channels till it gets delivered to the customer and the SCM is the integration of all the market channels.
Geographically, the ePharmacy market can be segmented into North America, Europe, Asia Pacific and RoW. North America is contributing to the largest share in the entire ePharmacy market and expected to show its dominance in this market owing to its technological advancement and high internet usage rate. European market follows North American. Active online presence and increase in internet usage is expected to serve this regional market with growth platform. Emerging nations in Asia pacific region is expected to have a double digit CAGR in the forecasted period owing to its increasing use of technology, rapidly improving healthcare infrastructure and globalization.
Some of the key market players of ePharmacy market are Lloyds Pharmacy Ltd., CVS Caremark, Doc Morris, CanAmerica Drugs, Inc., MediSave, Rowlands Pharmacy, SANICARE Group, Drugstore.com Inc., PlantRx.com CanadaDrugs.com, and Walgreen Co. The market is highly competitive and has a huge scope in the next six years as a consequence of growing medical needs of increasing population. Organizations are adopting measures such as mergers, acquisitions, new product development and geographical expansion to retain their current market share and gain the competitive edge.
Avail customized purchase options to meet your research needs:
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.