Global Online Pharmacy Market is Expected to Reach US$ 150,891.1 Million by 2027, Growing at an Estimated CAGR of 14.8% Over the Forecast Period as They Make the Life of Patients Simpler : Absolute Market Insights

PUNE, India, Dec. 11, 2019 /PRNewswire/ -- Online pharmacies tend to provide services that help patients comply with their drug therapies. Customers can choose to use refill reminders that notify them via e-mail when it is time to refill or renew prescriptions. The provision of e-mail reminders offers a low-cost scalable approach towards addressing the problem of medication non-compliance. This enables the consumers to make informed decisions and save money. Also, the penetration of new entrants has made the overall online pharmacy market fragmented in nature. Major factors driving the growth of online pharmacies includes the convenience and privacy of this new channel. Patients with limited mobility or living far from the pharmacy tend to benefit tremendously from legitimate internet pharmacies. Owing to attractive advertisement campaigns of pharmaceutical companies on television in the press and low cost products, consumers find the aforementioned option to be more beneficial. However, risk associated with counterfeit prescription drugs is expected to critically impact the overall market growth. Technological advancements such as electronic prescription methods coupled with barcode medication identification is expected to propel the global online pharmacy market in the future years.

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The detailed research study provides qualitative and quantitative analysis of online pharmacy in epilepsy market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major online pharmacy market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

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Key Findings of the Report:

• Global online pharmacy market is expected to reach US$ 150,891.1 million by 2027 owing rising internet accessibility and increasing economic growth
• The prescription drugs segments is anticipated to witness considerable growth in the future years owing to increasing demand for e-prescriptions and strict regulatory compliances.
• A company named The Swiss Online Pharmacy is engaged in providing both branded and branded medications, hair loss remedies and weight loss pills. The sale of low cost generic medications has increased the demand for these medications all the more among consumers. Manufacturers that provide generic medication products are Finax, Finast, Fincar amongst others.
• The Swiss Online Pharmacy works directly with manufacturers of pharmaceutical products and is also a wholesaler for hospitals and other online pharmacies.
• North America held the largest share in 2018 and is expected to continue the same trend over the forecast period. Rising adoption of online services amongst the regional population has assisted the growth of North America online pharmacy market. Established high street pharmacies such as Lloyds have a strong presence online, but consumers are increasingly familiar with companies that operates only online such as PillTime.
• Some of the online pharmacy market participants engaged in providing online pharmacy services are Lloyds Pharmacy Limited, The Walgreen Company, CVS Health, OptumRx, The Kroger Co., and Netmeds amongst others.

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Online Pharmacy Market:

By Product Category

• Prescription Drugs
• Over-the-counter Drugs (OTC)

By Product Type

• Synthetic
• Natural

By Product Delivery Mode

• In-store
• Home Delivery

By Application

• Hair
• Skin Care
• Weight Management
• Others (Sexual Health, Allergies Etc.)

By Geography

• North America
• U.S.
• Canada
• Mexico
• Rest of North America
• Europe
• France
• The UK
• Spain
• Germany
• Italy
• Nordic Countries
• Denmark
• Finland
• Iceland
• Norway
• Sweden
• Benelux Union
• Belgium
• The Netherlands
• Luxemburg
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia Pacific
• Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

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SOURCE Absolute Markets Insights