"Healthcare e-Commerce to Emerge as the Fastest Growing Sector"
The healthcare e-commerce market worldwide is expected to grow with a CAGR of 17.6% during the forecast period from 2023 to 2030. Global e-commerce market registered a staggering revenue of more than US$ 2.8 Tn sales which is around 15 percent of the overall retail sales. With e-commerce gaining huge momentum across other segments such as electronics and apparels, market players are now increasingly focusing on healthcare segment as their next big business. Rise in internet penetration, greater range of products & services offered and convenience is giving a boost to the e-commerce industry. Due to lower prices, free home delivery, and other benefits, customers prefer to buy their healthcare needs online.
"Supplements to continue as the market leader"
Based on the offering, the healthcare e-commerce market is led by drug type segment comprising prescription drugs, over-the-counter drugs and supplements. Of these, supplements is the largest and fastest growing e-commerce segment, accounting for nearly 1/3rd of the total market revenue generated worldwide followed by over the counter drugs and prescription drugs, respectively. Sales of supplements has increased more than 38% in 2020 as compared to the year 2019. Supplements are products designed to augment the daily intake of nutrients, including vitamins and minerals, thereby witnessing consistent demand worldwide.
"Asia Pacific to Emerge as the Market Leader in the Forecast Period"
In 2021, Asia Pacific held the highest sales in overall e-Commerce market with more than US$ 750.0 Bn, followed by North America and Europe with more than US$ 550.0 Bn and US$ 300.0 Bn respectively. Due to the effect of one child policy in China, an imbalanced population structure is emerging. As a result, the number of people aged over 65 keeps growing, thereby fueling the need for related medical products and services. Ever-growing internet penetration in Asia Pacific too has been one of the major factors supporting the healthcare e-commerce market growth. Enforcement of new e-Commerce policies such as in China, government made policy in which they have specified that to provide e-healthcare services companies have to collaborate with licensed medical institutions. As a result, e-Commerce companies are more regulated, raising customers’ confidence in healthcare e-Commerce.
Some of the prominent players operating in the healthcare e-Commerce market 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.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Healthcare e-Commerce market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
ATTRIBUTE | DETAILS |
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Research Period | 2022-2032 |
Base Year | 2023 |
Forecast Period | 2024-2032 |
Historical Year | 2022 |
Unit | USD Million |
Segmentation | |
Offering
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report