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Online Pharma Retail Market Size, Share, Growth, Development, Trend, Opportunity, Key Players, and Forecast Till 2027

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Aug 05, 2020 (Market Insight Reports) -- The Global Online Pharma Retail Market is estimated to grow at a CAGR of ~13% during the forecast period 2015-2027. As per the detailed market study, the global online pharma retail industry was valued at ~$41 billion in the year 2018 and is anticipated to reach ~$121 billion by the end of the year 2027.

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Online retail pharma deals in retail channels which sell over the counter and prescribed drugs along with FMCG as some generic testing services such as sugar testing, blood testing, etc. over the internet. From these platforms, customer can purchase drugs and services from an application or directly through websites and receives at their doorsteps.

Online retail pharmacies offer better pricing than brick and mortar or offline stores. These pharmacies have a system in place for validation on prescriptions through a licensed pharmacist. Another benefit with online retail pharmacies are the availability of large stock and detailed information about medicine that include ingredients, substitutes, adverse effects, usage and others.

The global online pharma retail industry is driven by various growth factors such as improved healthcare infrastructure, increased internet penetration across the world impacts the online pharma retail marketplace. Also, rapid growth of aging population in the world and increasing awareness related to pharma e-commerce amongst customers. Furthermore, shift in consumer behaviour towards convenience support the demand of online pharmacy and increasing adoption of digital technologies in the healthcare sector impacts the purchasing pattern of online medicines over the future period.

Segmentation Overview of the Global Online Pharma Retail Market

The global online pharma retail market is categorized on the basis of various market segments that include product category, retail format, channel and platform. These major market segments are further categorized into various sub-segments to study the market in detail.

The Product Category of the Global Online Pharma Retail Market is Sub-Segmented into:

  • OTC

  • Health/Energy Products

  • Oral Care Products

  • Skin Care Products

  • Ophthalmic products

  • Gastrointestinal Medications

  • Cold, Cough, Fever

  • Pain relievers

  • Others

  • Rx (Prescription drugs)

  • URI (Upper Respiratory Infection) & Asthma

  • Cardiology

  • Oncology

  • Orthopaedic

  • Diabetes

  • Others

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