AI-Driven Market Transformation, Europe's Pharma E-Commerce to Grow by USD 38.7 Billion from 2024-2028, Boosted by Internet Accessibility

NEW YORK, Oct. 1, 2024 /PRNewswire/ -- Report with the AI impact on market trends- The global pharma e-commerce market in Europe size is estimated to grow by USD 38.7 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 16.27%  during the forecast period. Availability of internet provides convenience to consumers is driving market growth, with a trend towards growing acceptance in newly regulated european states. However, illegal and counterfeit trading of drugs through e-pharmacy  poses a challenge. Key market players include Ace Chemist Direct, apo rot GmbH, Apotea AB, Arzneiprivat, Atropa Pharmacy, Chemist4U Innox Trading Ltd., Dirk Rossmann GmbH, DocMorris AG, EURO PHARM International Canada Inc., Farmacia Campoamor, Juvalis, McKesson Corp., myCARE e.k, Parafarmacia online, Pharmacy2U Ltd., Redcare Pharmacy, The French Pharmacy, UK MEDS Direct Ltd., Walgreens Boots Alliance Inc., and Wort and Bild Verlag Konradshohe GmbH and Co. KG.

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Market Driver

Pharma e-commerce in Europe is witnessing significant growth due to the increasing demand for personalized medicine and health solutions. Leveraging data analytics and artificial intelligence, these platforms provide customized recommendations, treatment plans, and wellness programs based on individual preferences and health histories. Personalized medicine, which involves customizing medical treatment to each patient's unique characteristics, is facilitated through a wide range of offerings, including specialty drugs and compounded medications. Patients can work with healthcare professionals to develop personalized treatment regimens and order necessary medications online. The trend extends beyond disease treatment to encompass wellness and preventive care, with e-commerce platforms offering health supplements, vitamins, and wellness products tailored to individual health goals. The European pharma e-commerce market is expected to grow, fueled by this trend and the innovation it inspires, including genetic testing services and health monitoring devices.

The European pharma e-commerce market is experiencing significant growth, with medications, medical supplies, and healthcare products leading the way. Remote healthcare services, such as telemedicine and e-prescriptions, are also trending, especially among the elderly population with chronic diseases. Consumer convenience and cost-effective solutions are key drivers, with many opting for online pharmacies and mail-order services. However, challenges persist, including counterfeit pharmaceuticals, data protection, and consumer trust. Healthcare systems and internet connectivity are essential for the success of digital healthcare solutions. Omnichannel retailing, including inventory data and logistics, is crucial for supply chain efficiency. Direct sales to healthcare professionals are also increasing. E-prescriptions and digital prescription services are becoming more common, but illegal and unregulated online pharmacies pose a threat to consumer safety. Quality assurance and regulatory compliance are essential to maintain consumer trust.

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Market Challenges

• The proliferation of counterfeit drugs in the European pharma e-commerce market poses a significant challenge. These drugs, sold through virtual platforms, undermine industry integrity and pose health risks due to incorrect ingredients or dosages. Illicit drugs such as cannabis, heroin, and cocaine are commonly traded. This globalized counterfeit drug trade increases societal threats, including drug-related crimes and fatalities from overdoses. E-commerce's lack of regulation and oversight enables third-party sellers to exploit loopholes, making it difficult for authorities to monitor and control sales effectively. This situation negatively impacts the growth of the pharma e-commerce market in Europe, potentially hindering its forecasted expansion.
• The European pharma e-commerce market is experiencing significant growth due to an aging population and the rise of online and mail-order pharmacies. Challenges include managing chronic diseases, ensuring patient safety, and addressing illegal and unregulated online pharmacies. Digital prescription services and e-prescriptions are key trends, but logistics and inventory data management are crucial for success. Omnichannel retailing, including OTC medications and prescription medications, targets a large patient population. Health insurers and digital healthcare platforms are driving demand for electronic prescriptions and mobile applications. AI chatbots and machine learning enable personalized patient care, while data analytics and prescription refills enhance convenience. Cross-border e-commerce and drug counterfeiting pose risks, requiring strict regulation and biometric identification for security. The diabetes segment and immune-system diseases are major growth areas in the B2C market. Manufacturer-owned marketplaces and digital technologies are transforming the industry, offering new opportunities for growth.

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Segment Overview 

This pharma e-commerce market in Europe report extensively covers market segmentation by

1. Product 
• 1.1 Medications
• 1.2 Health/wellness and nutrition
• 1.3 Personal care and essentials
2. Type 
• 2.1 Rx
• 2.2 OTC
3. Geography 
• 3.1 Europe

1.1 Medications-  The European pharma e-commerce market is experiencing significant growth due to the increasing demand for medications as the population ages and the prevalence of chronic diseases rises. Online pharmacies offer consumers the convenience of purchasing essential medications without visiting physical pharmacies, making it an attractive option for individuals with mobility issues, busy lifestyles, or those living in remote areas. These platforms provide access to a wide range of medications, including specialty drugs and rare medications, ensuring consumers have access to the necessary treatments regardless of their location. Additionally, online platforms offer valuable information on medication side effects, low-cost substitutes, and potential drug interactions, enabling consumers to make informed purchasing decisions. These factors contribute to the anticipated growth of the medications segment and the pharma e-commerce market in Europe during the forecast period.

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Research Analysis

Pharma e-commerce in Europe is experiencing significant growth, driven by the increasing elderly population and the demand for convenient healthcare solutions. Online pharmacies and mail-order pharmacies are becoming popular, offering prescription medications, over-the-counter pharmaceuticals, and healthcare products. Telemedicine and digital prescription services enable remote healthcare consultations and electronic prescriptions. However, the rise of illegal online pharmacies poses a threat, selling counterfeit pharmaceuticals and compromising data protection. Two-factor authentication and data analytics help ensure security and personalized services. Mobile applications facilitate prescription refills and remote healthcare services. Artificial intelligence and data analytics improve patient care and optimize supply chain management. Overall, pharma e-commerce in Europe offers a wide range of digital platforms for medications, medical supplies, and healthcare products, enhancing consumer convenience and accessibility for chronic disease management and life expectancy improvement.

Market Research Overview

The Pharma E-Commerce Market in Europe is experiencing significant growth due to the increasing elderly population, chronic diseases, and advancements in digital healthcare. Online pharmacies and mail-order pharmacies are becoming increasingly popular, offering convenience and accessibility to patients. Telemedicine and e-prescriptions are also on the rise, enabling remote healthcare services and digital prescription services. However, the market also faces challenges such as illegal and unregulated online pharmacies, drug counterfeiting, and healthcare accessibility issues. Healthcare professionals, health insurers, and manufacturer-owned marketplaces are also playing key roles in this evolving landscape. Omnichannel retailing, inventory data management, logistics, and cost-effective solutions are essential for success in this market. Digital technologies, including AI chatbots, machine learning, and data analytics, are transforming the industry, offering personalized healthcare and consumer convenience. E-commerce platforms, mobile applications, prescription refills, and two-factor authentication are also driving growth in the B2C segment. Data protection and quality assurance are crucial for consumer trust, while cross-border e-commerce and medical tourism are expanding opportunities for growth. The market for prescription medications, OTC medications, medical supplies, and healthcare products is expected to continue growing, fueled by increasing healthcare expenses, internet penetration, and the need for cost-effective solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Medications
• Health/wellness And Nutrition
• Personal Care And Essentials
• Type
• Rx
• OTC
• Geography
• Europe

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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