According to a new market research report published by Acute Market Reports “Healthcare e-Commerce Market (By Offering (Drug Type (Prescription Drugs, OTC Drugs and Supplements), Medical Devices) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall healthcare e-commerce market worldwide is set to grow with 17.6% CAGR during the forecast period.
Browse the full report at “Healthcare e-Commerce Market”
Market Insights
E-commerce have proven to be worthy and time savvy due to its immense convenience and reduced product prices for the tech savvy world. The e-commerce sector is worth more than US$ 2.80 Tn and is all set to capture the healthcare industry. According to a report by Goldman Sachs, the potential annual market for e-commerce and web services technology in healthcare is about US$ 32.0 Bn. Due to rise in the internet penetration and ease of access through e-commerce, the healthcare e-commerce is also expected to witness rapid growth in the near future. Today, most of the people are more inclined towards having products/services delivered at their doorstep rather than personally visiting brick and mortar stores.
Based on offering, supplements is the largest segment of healthcare e-commerce contributing to more than 40% of the global market value. Rising health concerns along with change in lifestyles and diets has surged the product demand. Rapid urbanization, rise in disposable income, along with growing consumer awareness regarding health issues is also driving the market. Principally, supplements complete all the nutrients within the body which a person needs from a balanced diet. Some supplements are used to treat a deficiency, such as iron deficiency or vitamins and minerals deficiency.
Based on the geography, Asia Pacific governs the overall e-commerce market followed by North America and Europe. Healthcare e-commerce is also growing in the Asia Pacific, as in China the number of aged over 65 is growing and so is the need for healthcare. Enforcement of new healthcare e-commerce regulations in Asia Pacific such as in China, government made policy in which they specify that for providing e-healthcare services companies have to collaborate with licensed medical institutions. On account of these factors we are expecting a rapid growth in the healthcare e-commerce market in Asia Pacific throughout the forecast period.
Some of the major companies profiled in the report include Amazon.com, Inc., PillPack, Inc., Exactcare Pharmacy, Flipkart Pvt. Ltd., Alibaba Group Holding Ltd., eBay Inc., Remdi SeniorCare, Lloyds Pharmacy Ltd., McCabes Pharmacy, Walgreens Boots Alliance Inc., CVS Health, FSA Store.com, The Kroger Co., Doc Morris, Netmeds.com, MedLife.com and others.
By Offering (2019–2027; US$ Bn)
By Medical Devices
By Geography Segment (2017-2027; US$ Bn)
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