LAMEA ePharmacy Market By Drug Type (Over-the-Counter Products and Prescription Medicines), By Country, Opportunity Analysis and Industry Forecast, 2021 - 2027
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Market Report Description
The Latin America, Middle East and Africa ePharmacy Market would witness market growth of 17.4% CAGR during the forecast period (2021-2027).
The rising penetration of smartphones across the developing and developed regions is also driving the growth of the market. According to the Mobile Economy, smartphone penetration has significantly increased in the last couple of years and is estimated to rapidly grow in the coming years. The healthcare sector and operational costs are correspondingly increasing but the players in the market are focusing on reducing operational costs by adopting ePharmacy solutions. In addition, a huge surge in the prevalence of chronic diseases has resulted in the higher demand for several healthcare products such as drugs. This represents the rising penetration of ePharmacies for purchasing drugs worldwide.
LAMEA ePharmacy market witnessed gradual growth in the past few years and is expected to show similar kind of trend even during the forecasting period. This positive growth of the market is attributed to the growing penetration of smartphones and tablets with a high-speed internet connection in the region. Also, the launch of several applications in favor of the end-user is escalating the regional market growth. Additionally, the increasing awareness about the convenient and easy way to purchase medicines through online pharmacies is creating new growth avenues for the market in this region.
Moreover, the growing number of healthcare centers and their demand for e-prescriptions is strongly fueling up the growth of ePharmacy. Further, the rising capital income in emerging nations of this region, the adoption of new technological developments like cloud-based platforms, and growing usage of the internet of things (IoTs) are some of the factors accountable to escalate the demand and growth of the regional ePharmacy market.
The Over-the-Counter Products market dominated the South Africa ePharmacy Market by Drug Type in 2020, growing at a CAGR of 17.5 % during the forecast period. The Prescription Medicines market is expected to witness a CAGR of 19.3% during (2021 - 2027).
Based on Drug Type, the market is segmented into Over-the-Counter Products and Prescription Medicines. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global ePharmacy Market is Estimated to Reach USD 167.6 Billion by 2027 at a CAGR of 16.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Kroger Co., Walgreen Co., Giant Eagle, Inc., Walmart, Inc., Express Scripts Holding Company (Cigna), CVS Health (CVS Pharmacy, Inc.), Optum Rx, Inc. (United Health Group), Rowlands Pharmacy (the PHOENIX group), DocMorris (Zur Rose Group AG), and Amazon Pharmacy (Amazon.com).
Scope of the Study
Market Segments Covered in the Report:
By Drug Type
- Over-the-Counter Products
- Prescription Medicines
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- The Kroger Co.
- Walgreen Co.
- Giant Eagle, Inc.
- Walmart, Inc.
- Express Scripts Holding Company (Cigna)
- CVS Health (CVS Pharmacy, Inc.)
- Optum Rx, Inc. (United Health Group)
- Rowlands Pharmacy (the PHOENIX group)
- DocMorris (Zur Rose Group AG)
- Amazon Pharmacy (Amazon.com)
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