An online pharmacy is a company that sells pharmaceutical preparations such as non-prescription and prescription-only pharmaceuticals via the internet and delivers them. Generally, online pharmacy platforms allow customers to upload scanned copies of their prescriptions and place orders for medicines. Then this request is forwarded to the registered pharmacy stores or in some cases to the inventory and finally, the order gets shipped from there. Due to large factors of convenience, the use of online pharmacies is increasing rapidly. Sometimes online pharmacy is used to get a certain drug that may be unavailable.This growth is primarily driven by Need to Conveniently Order Medicines and Unavailability of Certain Drugs in Local Shops.
Globally, a noticeable market trend is evident Adoption of Mobile-Based Apps in Online Pharmacy. Major Players, such as Amazon (United States), PharmEasy (India), NetMeds (India), Walmart (United States), The Kroger Co. (United States), Walgreen Co. (United States), CVS Health (United States), Giant Eagle, Inc. (United States), Rowlands Pharmacy (United States) and OptumRx, Inc. (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In May 2021, PharmEasy, India’s largest online pharmacy company, appointed two investment banks, JM Financial and Kotak Investment Banking for its initial public offering (IPO). The online pharmacy giant is looking at the possibility of a US indirect listing through a merger with a special purpose acquisition company (SPAC), a strategy used by numerous firms in India and elsewhere.
- Need to Conveniently Order Medicines
- Unavailability of Certain Drugs in Local Shops
- Adoption of Mobile-Based Apps in Online Pharmacy
- Online Pharmacy May Not Be Available in Remote Areas
OpportunitiesGrowing Number of Internet Users Will Increase the Demand of Online Pharmacy and Cost Efficiency Due to Bulk Selling Will Boost the Demand of Online Pharmacy
ChallengesEfficient Supply Chain Management Is the One the Biggest Challenges in Online Pharmacy and Delivering Consistent Customer Experience Is Challenging
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the ReportAMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Online Pharmacy Study Sheds Light on— The Online Pharmacy Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Online Pharmacy industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
— Where Online Pharmacy industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
— How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.