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E-pharmacy Market size was valued at USD 52 billion in 2019 and is poised to grow from USD 62.14 billion in 2023 to USD 308.8 billion by 2031, growing at a CAGR of 19.5% in the forecast period (2024-2031).

The e-pharmacy business is relatively competitive, with only a few firms now ruling the roost. CVS Health Corporation, Albertsons Companies Inc., ALTO, and Axelia Solutions (Pharmeasy) are among the market's leading players. These firms are implementing different marketing methods in order to capture a larger portion of the e-pharmacy market, as well as focusing on growing their geographic presence, particularly in developing countries with attractive potential. 'DocMorris', 'Medlife International Pvt. Ltd.', 'Walmart stores', 'CVS Health Corporation', 'Walgreen Co. (Walgreens Boots Alliance, Inc.)', 'Rite Aid Corporation', ', Inc.', 'The Kroger Co.', 'Rowlands Pharmacy', 'Netmeds Marketplace Limited', '1mg Technologies Private Limited', 'Walgreens Boots Alliance, Inc.', 'Chemist Warehouse Group', 'Apollo Pharmacy', 'LloydsPharmacy Limited', 'Zur Rose Group AG', 'Walgreens Boots Alliance, Inc.', 'SHOP APOTHEKE EUROPE N.V.', 'SANICARE Group', 'Phoenix Group Holdings'

E-pharmacy market is growing in demand as it provides customers to purchase pharmaceuticals from authorized distributors and well organized e-commerce platforms. This service mitigates the issues of buying poor and counterfeit products from illegal distributors.

One of the main trends that is driving the market is the increased demand and adoption of telemedicine. Individuals who have an affinity to IT are the ones who use telemedicine. With the help of this there is more transparency, awareness and access to several health care providers. This is one reason which is supporting the growth of the market.

In terms of revenue generation, the online pharmacy sector in North America is the most profitable. Because of the ease with which a broad variety of drugs may be bought, rising internet penetration is one of the region's development drivers, resulting in quick acceptance of new technologies as well as a need for digital health platforms. The presence of local online pharmacy providers as well as large industry players in the region will also contribute to market expansion. 

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Global E-pharmacy Market

Product ID: SQMIG35C2003