E-PHARMACY MARKET ANALYSIS

Market Challenges And Opportunities

Global ePharmacy Market: Restraints  

Likely occurrences of substance abuse are expected to hinder growth of the global ePharmacy market. Easy availability of controlled prescription drugs such as stimulants, anxiolytics, narcotic painkillers, and sedative hypnotics through online retail platforms is indirectly resulting in increasing instances of substance abuse and has raised concerns for public health.

Moreover, presence of a large number of rogue ePharmacies reduces customer trust, thereby hindering growth of the market. A large number of false ePharmacies or illegitimate ePharmacies have come into existence, which do not abide by the necessary safeguards. Such pharmacies provide medication without actual visits to the doctor and require neither prescriptions nor a medical history. As a result, there are increasing instances of falsified drug deliveries, which is hampering the trust of consumers on the desirability of purchasing their prescription drugs online.

Global ePharmacy Market: Opportunities  

Large untapped markets in Latin America are expected to offer lucrative growth opportunities for players in the market. Presently, Latin America and Middle East and Africa are the least-tapped markets for ePharmacy, owing to high presence of physical pharmacy stores and underdeveloped healthcare infrastructure in most countries in these regions. Countries such as Brazil, Uruguay, Chile, and Argentina are expected to show significant growth in the market.

Moreover, increasing disposable income in Asia Pacific is also expected to display lucrative growth opportunity for players in the market. For instance, according to The Ministry of Statistics and Program Implementation, Government of India, disposable personal income in India increased to US$ 2,699,821.02 Million in 2019 from US$ 2,517,856.54 Million in 2018.