Published on : May 05, 2016
The global market for ePharmacy is displaying a positive growth trajectory due to the increasing penetration of the Internet in emerging nations and the increasing government support extended to the same. ePharmacies enable consumers to have medicines delivered at their homes without having to visit pharmacy stores, which is bolstering growth of the ePharmacy market over the past decade.
Some of the benefits of ePharmacies for consumers are:
- Better Accessibility: ePharmacies can be reached out either from the comfort of the consumer’s home or from any other location. This is the foremost advantage of ePharmacies over conventional pharmacies.
- Lower Costs: Keeping up with ecommerce practices, medicines bought online can be significantly low in process than those bought from regular stores.
- Access to More Options: ePharmacies enable consumers to compare medicines if cheaper alternatives are available as well. Due to the introduction of multiple branded products for the same condition, generics to the consumer’s first choice is likely to be found. ePharmacies also enable patients to search medicines as per their past medical history mainly due to availability of prescriptions and health records in electronic format. This adds to the convenience for consumers for procuring medicines at their doorsteps,
Presently, the global ePharmacy market is dominated by the developed regions of North America and Europe. These regions beings pioneers in adopting technology have an established infrastructure for the adoption of ePharmacy solutions. However, emerging market such as Latin America and Asia Pacific will emerge as major regions in the global ePharmacy market in the future. The need to fulfil demand-supply gap for pharmacy services in countries such as India and China is boosting growth of the ePharmacy market in this region. Governments in these countries are extending support for the ePharmacy market to come to the surface.