Status : Published Published On : Dec, 2023 Report Code : VRHC1261 Industry : Healthcare Available Format : Page : 169
2025
2030

Global Digital Pharmacy Market – Analysis and Forecast (2025-2030)

Industry Insights by Drug Type (Prescription Medicines, OTC, and Products), by Product (Medicine, Vitamins & Supplements, Personal Care, CVD, Oncology, and Diabetes), by Platform (Apps & Websites), by Business Model (Captive, Franchise, and Aggregator) and by Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)

Industry Overview

The Global Digital Pharmacy Market size is expected to grow from USD 94.5 billion in 2023 to USD 224.9 billion by 2030. It will register a CAGR of 18.5% during the forecast period. Digital Pharmacy, also known as Online Pharmacy, is the integration of digital tools and technologies, thereby enhancing pharmacy practices and patient care in the pharmaceutical market. The increased penetration of internet users globally, enhancing digitalization of healthcare services, and the rising number of tech-savvy consumers are the primary factors driving the market development of the global digital pharmacy industry. Further, the COVID-19 epidemic's second wave has increased demand for personal protective equipment (PPE), health supplements, and widely available medication in the digital pharmacy sector. Customers are now more likely to purchase online than visit offline pharmacies and diagnostic facilities, especially in major metropolitan areas, due to high caseloads and regional lockdowns during the COVID-19 crisis. Thus, easy ordering, high-quality services, the availability of a variety of medicines, and rising internet accessibility have changed customers' preferences in favour of digital pharmacy platforms. The global market is also anticipated to be driven by the huge rise in smartphone usage, which enables firms in the digital pharmacy sector to attract a wide spectrum of customers from both developed and emerging economies.

Digital Pharmacy Market

Market Segmentation

Insight by Drug Type

Based on Drug Type, the global digital pharmacy market is bifurcated into Prescription Medicines and Over-the-Counter (OTC) Products. The OTC segment contributes the largest share in the market owing to increased awareness about primary disease treatment for common health conditions. The significance of pharmaceutical care is growing as a result of the need and desire for self-care, including self-medication. The need for online services, particularly for over-the-counter (OTC) pharmaceuticals, is anticipated to increase as self-care demands grow.

The prescription medicine is anticipated to grow significantly during the forecast period owing to the rising prominence of various chronic disorders and surge in the demand for medications.

Insight by Product

Based on Product, the global digital pharmacy market is segregated into Medicine, Vitamins & Supplements, Personal Care, CVD, Oncology, and Diabetes. The vitamins and supplements are anticipated to have a significant growth in the global digital pharmacy market. The rising vitamin deficiencies among people are propelling market growth of digital pharmacy industry. Consumers are becoming more aware about the significance of vitamins and the essentiality to incorporate dietary supplements into their daily lives which will drive the demand for vitamins, primarily through online platforms. Furthermore, the rise in the number of people practising self-medication is expected to increase the sale of multivitamin products, and because these products are easily available on e-commerce platforms, the digital pharmacy market will experience considerable growth.

Insight by Platform

Based on Platform, the global digital pharmacy market is divided into Apps and Websites. The app-based platforms contribute the largest share in the market owing to surge in mobile use and increased penetration of internet. Moreover, there is surge in number of people doing online transactions as it offers lucrative promos or discounts, thereby escalating the market demand for online drugs via app-based platforms.

Insight by Business Model

Based on Business Model, the global digital pharmacy market is segmented into Captive, Franchise, and Aggregator. The captive business model is anticipated to have a high CAGR during the forecast period. Captive business models' adaptability, accessibility, and affordability are major factors in the segmented growth of the digital pharmacy market.

Global Digital Pharmacy Market Report Coverage

Report Metric

Details

Historical Period

2018 - 2023

Base Year Considered

2024

Forecast Period

2025 - 2030

Market Size in 2023

U.S.D.  94.5 Billion

Revenue Forecast in 2030

U.S.D.  224.9 Billion

Growth Rate

18.5%

Segments Covered in the Report

By Drug Type, By Product, By Platform, and By Business Model

Report Scope

Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling

Regions Covered in the Report

North America, Europe, Asia-Pacific, Middle East, and Rest of the World

Industry Dynamics

Growth Drivers

Factors attributing to the growth of the global digital pharmacy market include increased consumer awareness about purchasing online medicines during and post-COVID-19 pandemic, a rising geriatric population, and a surge in market consolidation and partnerships. Moreover, the rising number of internet users, and rising demand for OTC products like masks, sanitizers, steamers, thermometers, etc will propel the market development of the digital pharmacy industry. Furthermore, the rising adoption of digital technologies and e-commerce in the healthcare sector will flourish the market growth.

Online pharmacy emerged as one of the biggest benefactors of the pandemic-induced lockdown, despite the fact that medical stores were considered essential services. Nevertheless, people opted to purchase their medications online to reduce the danger of disease transmission. In addition demand for numerous healthcare products, especially medications, is rising as chronic illnesses become more prevalent. This signifies the rising prominence of online modes of drug procurement globally. Thus, the digital pharmacy industry offers convenience, accessibility, and affordability to the consumers at their doorsteps.

Challenges

During the projected period, an increasing number of illegal online pharmacies and patients who depend on pharmacists for therapeutic support are anticipated to hinder the growth of the global digital pharmacy market. These unlicensed pharmacies sell medicines that have not been approved by the FDA, increasing the risk of obtaining counterfeit and adulterated medications with incorrect active ingredients from these pharmacies.

Opportunities

The industry players are anticipating lucrative growth opportunities in the digital pharmacy market owing to:

  • Increasing the availability of online and web-based services
  • Flourishing digital health sector
  • Lucrative savings and offers, as well as quick access to online prescription medications

Geographic Overview

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Rest of the World (RoW)

North America contributes the highest share in the global digital pharmacy market owing to the increased espousal of e-commerce, rising old-age population suffering from chronic diseases, increased investment in developed healthcare infrastructure, rising electronic sales, and a favorable attitude towards the implementation of novel technologies, thereby accelerating the market expansion in the region. The COVID-19 outbreak has had a tremendous effect on consumer buying behaviour as more people are trying to seek medicines and other healthcare-related supplies via the digital pharmacy platform. The consumer-friendly online experiences are made possible by the digital platform as well as other cutting-edge services, thereby further fueling North America's overall market growth.

Competitive Insight

There are many prominent players in the ecosystem which has resulted in a competitive and diverse market for digital pharmacy. The development of digital transformation strategies across several industries is anticipated to propel the global Digital Pharmacy Market during the forecast period. Moreover, increased investment in the digital pharmacy industry has led to a rise in private equity and mergers and acquisitions by small and big businesses. 

Netmeds.com is considered one of India's most reliable online pharmacies, providing quality medicines at affordable prices to over 7 million satisfied customers. Netmeds.com provides a wide range of prescription medicines and other health products easily available throughout India. Even second and third-tier cities and rural villages now have access to the latest medicines. Online buyers can expect significant savings because they also offer generic alternatives to most of the medications. Thus, Netmeds.com is a fully licensed e-pharma portal that provides authenticated prescription and over-the-counter (OTC) medications which includes wellness products, vitamins, diet/fitness supplements, herbal products, pain relievers, diabetic care kits, baby/mother care products, beauty care products, and surgical supplies.

Health and safety are of the utmost importance to Giant Eagle Pharmacy. They provide a wide range of the most popular equipment, furnishings, supplies, and more to maintain home safety and comfort. Some of their product options are marked in their product catalog as requiring a prescription from a doctor. They will be asked for that information when checking out.

Recent Development by Key Players

In May 2022, CVS Health® has launched CVS Health Virtual Primary CareTM, a novel virtual care solution accessible via a single digital platform. CVS Health's services, clinical expertise, and data are linked in this offering for a more coordinated and consumer-centric healthcare experience. The new solution, which demonstrates CVS Health's bold strategy to improve primary care, allows consumers to choose care when and where they want it - in a retail or community-based setting, through at-home health services, or virtually. Members of CVS Health Virtual Primary Care will have access to primary care, on-demand care, chronic disease management, and mental health services virtually, with the option to visit a MinuteClinic or other in-network clinician in person if necessary. The virtual primary care provider can help members find in-network specialists and other in-network health service providers if that is necessary.

In March 2022, Giant Eagle wants to strengthen its collaboration with SmartSense by Digi®, a division of Digi International, on task management. Furthermore, the store and the supplier of Internet of Things (IoT) connectivity solutions expanded their strategic collaboration to install 32,000 more SmartSense digital temperature monitoring sensors, which are utilized to continually monitor freshness across their essential food assets.

Key Players Covered in the Report

Some of the prominent players in the global digital pharmacy industry include Tata 1mg,  Netmeds Marketplace Ltd., Evernorth Health Inc., CVS Health, The Kroger Co., Walgreen Co., Walmart, Giant Eagle, Inc., Rowlands Pharmacy, and Apollo Pharmacy.

The Digital Pharmacy Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.

Segments Covered in the Report

  • By Drug Type 
    • Prescription Medicines
    • Over-the-Counter (OTC) Products
  • By Product 
    • Medicine
    • Vitamins & Supplements
    • Personal Care
    • CVD
    • Oncology
    • Diabetes
  • By Platform 
    • Apps
    • Websites
  • By Business Model
    • Captive
    • Franchise
    • Aggregator

Region Covered in the Report

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia-Pacific (APAC)
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World (RoW)
    • Brazil
    • Saudi Arabia
    • South Africa
    • U.A.E.
    • Other Countries

 

Digital Pharmacy Market Size

Frequently Asked Questions

The global digital pharmacy market size is expected to grow from USD 94.5 billion in 2023 to USD 224.9 billion by 2030. It will register a CAGR of 18.5% during the forecast period.
North America contributes the highest share in the global digital pharmacy market.
Some of the major players in the global digital pharmacy industry include Tata 1mg, Netmeds Marketplace Ltd., Evernorth Health Inc., CVS Health, The Kroger Co., Walgreen Co., Walmart, Giant Eagle, Inc., Rowlands Pharmacy, and Apollo Pharmacy.

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle

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