The Pandemic & Online Distribution Networks to Transform the Healthcare Industry - Arizton

CHICAGO, Oct. 7, 2021 /PRNewswire/ -- E-commerce platforms are changing the concept of the healthcare industry. Companies are focusing on expansion of their businesses via online channels to boost their profits in the global market. During the sudden outbreak of the COVID-19 pandemic, telehealth became extremely popular, and several healthcare companies started to collaborate with various telehealth applications. AI, big data and other plays a significant role in the online healthcare industry across the globe.

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Arizton's research reports on the health & lifesciences offer an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market insights. Observing these rapid and drastic changes in demand and supply patterns encouraged the industry analysts at Arizton to publish exhaustive and data-driven insights on these recent trends in the industry.

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1.  Online Pharmacy Market - Global Outlook and Forecast 2020-2025

Global online pharmacy market size to cross USD 131 billion by 2025, growing at a CAGR of 20% during the forecast period. The ongoing trend of online pharmacy is gaining traction in the global market. Online pharmacies are collaborating with MedTech, Healthtech, and health insurance companies to increase market share. Online pharmacies are providing competitive pricing with offline pharmacies to intensify the competition in the market. In Europe, cross-border online pharmacy services are expected to boost the market growth, thereby resulting in increased revenue of the online pharmacy companies in Europe. The online pharmacy market is trending in most of the developing and developed countries of North America and Europe. Major pharmacy companies are investing in online business to increase their footprint across the globe.

Vendors are expected to focus on portfolio expansion and geographical coverage to gain profit in the market. Many big insurance companies have started partnering with online pharmacies for their outpatient department to offer e-billing and tracking facilities. Government initiating various campaigns to create awareness about online platforms among the population. Online pharmacies have an opportunity to give their online platform as advertising space on rent, which will allow different parties such as manufacturers, laboratories, clinics, hospitals to do their promotion on these websites. In the recent years, OTC drugs are gaining high traction in the healthcare industry. The global online OTC medicine segment is expected to reach USD 94.9 billion by 2025. New distribution networks in developing countries for pharmacy stores, supermarkets are expanding their portfolios by adding OTC drug to remain in the market trend.

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2.  U.S. Online Pharmacy Market - Industry Outlook & Forecast 2021-2026

The US online pharmacy market size to reach USD 146 billion and will grow at a CAGR of 19% by 2026. Advancement in technologies and value-creating innovations attract more customers in the online healthcare industry. Automated prescription filling and customer relationship management along with the direct-to-consumer sale of medication are accelerating the adoption of online pharmacies in the US. There are many start-ups coming up in the market, which include the Alto Pharmacy, Blink health, Bartell Drug, Care Point, and more. The entry of giant e-commerce players such as Amazon into the e-pharmacy market is intensifying the competition in the US online pharmacy market. The biggest online pharmacy companies in the US are planning to build online shopping malls for healthcare in the upcoming years. With constantly growing EHR adoption rates, the demand for e-prescribing is also witnessing a corresponding increase, contributing to the highest market share by the US. CVS Health offering customers a convenient and straightforward method of filling and refilling prescriptions in its pharmacies using the CVS mobile application, which in turn, is gaining popularity across US healthcare market. 

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3.  Europe E-prescribing Market - Industry Outlook and Forecast 2021-2026

The e-prescribing market in Europe is expected to reach USD 1,105.88 million by 2026, growing at a CAGR of 22.93% during the period 2021-2026. AI technologies are very popular in the Europe e-prescribing market. Several vendors are developing such tools and leveraging the capabilities of AI in healthcare technologies such as EMR, e-prescribing, telemedicine, and others. To promote the use of e-prescribing, several countries are enacting the laws and implementing several policies to make its usage widely available. For instance, in the US, six states have mandated payment for telemedicine services. The government in various nations across the world is providing incentives for implementing e-prescriptions and at the same time penalizing non-compliance.

In Denmark, a health portal was created by the Danish Pharmacy Association to help patients buy medicine online. It also provided an automatic call service to remind patients regarding their medication. The integrated e-prescribing solutions are in high demand in European market and integrated software is likely to witness the highest absolute growth of 257.14% and grow at a CAGR of 23.63% during the forecast period.

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Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.  

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals, and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.  

Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.  

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