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The pharma e-commerce market in Europe is poised to grow by USD 16.42 billion accelerating at a CAGR of 15.47% between 2023 and 2027. Additionally, the market is fragmented in nature and shows a YOY growth of 13.47%. The report covers diverse dimensions such as the market size of forecast and historic data, influential drivers, analysis of prominent vendors, and evolving trends, presenting a comprehensive outlook on the global market scenario.
The growth of the market depends on several factors, including the availability of the internet provides convenience to consumers, the omnichannel retailing technique by pharmacy chains, and the availability of multiple payment options. The comprehensive report of pharma e-commerce market in Europe offers crucial insights of the industry's changing dynamics, helping businesses to identify growth opportunities in the constantly evolving digital retail landscape.
The market is Segmented as
1. Type- The Type Segment is classified into Rx and OTC.
2. Product- The Product segment is classified into medications, health wellness and nutrition, and personal care and essentials.
Pharma E-commerce Market in Europe, Request for Free Report Sample
The growth of the pharmacy e-commerce market in Europe is driven by the adoption of omnichannel retailing techniques by pharmacy chains. These chains integrate online services and mobile applications with traditional platforms, offering a seamless blend of physical and digital experiences. This approach provides real-time access to the retail brand, including features like stock availability advice and displays backed by efficient logistics and inventory data. Mobile technologies, such as smartphones and tablets, play a crucial role in facilitating consumer access to retailers and products. Pharmacies in Europe are strategically transitioning from physical stores to omnichannel integration, investing in technology and online enhancements to optimize product inventory management and tap into a fast-growing market segment.
A rising trend in the market is the increasing older population and prevalence of chronic diseases, particularly in the European Union where life expectancy is higher than in other developed countries. The elderly in the EU are experiencing elevated rates of chronic illnesses like diabetes, arthritis, cancer, obesity, heart disease, asthma, and COPD, leading to heightened reliance on families and caregivers.
The adoption of pharma e-commerce is notably growing in Europe as it allows older individuals to conveniently order medicines online and make payments through online options. This approach reduces the need for traveling to pharmacies, ensuring the timely delivery of legitimate medicines. Additionally, the geriatric population in Europe is consistently growing, facing various health challenges such as cancer, diabetes, high blood pressure, and fluctuations in blood sugar levels. Consequently, individuals in this age group require timely access to medicines for the effective management of recurring or chronic health issues. These factors are expected to drive market growth during the forecast period.
The market share growth by the Rx segment will be significant during the forecast period. Rx stands for 'prescription' drugs. One of the major reasons for the market growth is the improved life expectancy of people resulting in the growth of the older population.
The Rx segment was valued at USD 6.59 billion in 2017 and continued to grow until 2021. The geriatric population (aged 65 years or more) living in the region is increasing. This is leading to an increase in the number of people with chronic diseases, which is raising the demand for prescription medicines. Hence, the sales of prescription medicines through the online platform are expected to increase. Furthermore, the changing healthcare infrastructure, such as telemedicine, is increasing the involvement of technology in the healthcare sector. This is resulting in the adoption of a mobile platform for doctor consultation and the purchase of medicines. As the adoption of technology in Europe is high, it supports the growth of the Rx pharma e-commerce market during the forecast period. Moreover, the expansion of vendors on m-commerce applications (e-commerce transactions done through smartphones) to increase the convenience of buyers also supports the growth of the market. Therefore, the abovementioned factors will fuel the segment's growth during the forecast period.
Ace Chemist Direct - The company operates under one segment. The company under this segment is involved in providing services such as dispensing, repeat dispensing, and disposing of medicines. The key offerings of the company include solutions for pharma e-commerce.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
A significant challenge hindering market growth is the difficulty in retaining the loyalty of online customers, particularly for pharma e-commerce vendors. Retaining customers' interest poses a considerable challenge as, unlike offline platforms where staff assist buyers in product selection and usage understanding, online customers bear complete responsibility for their purchasing decisions. This lack of confidence in online buying can make it challenging for e-commerce vendors to engage customers and secure sales.
Moreover, if vendors' web pages lack self-explanatory or interactive features, they risk losing customers to competitors. To address this, vendors are employing SEO techniques to enhance their online presence and leveraging data from cache files and social networks to understand customer preferences and purchase patterns. These challenges are expected to impede market growth during the forecast period.
The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth. For details analysis BUY FULL REPORT.
Pharma E-commerce Market In Europe Scope |
|
Report Coverage |
Details |
Page number |
143 |
Base year |
2022 |
Historic period |
2018 - 2022 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15.47% |
Market growth 2023-2027 |
USD 16.42 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
13.47 |
Regional analysis |
Europe |
Performing market contribution |
Europe at 100% |
Key countries |
Germany, UK, and Rest of Europe |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ace Chemist Direct, apo rot GmbH, Apotea AB, Arzneiprivat, Atropa Pharmacy, Chemist4U Innox Trading Ltd., Dirk Rossmann GmbH, EURO PHARM International Canada Inc., Farmacia Campoamor, Juvalis, McKesson Corp., myCARE e.k, Parafarmacia online, Pharmacy2U Ltd., SHOP APOTHEKE Europe N.V, The French Pharmacy, UK MEDS Direct Ltd., Walgreens Boots Alliance Inc., Wort and Bild Verlag Konradshohe GmbH and Co. KG, and Zur Rose Group AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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