UAE E-Pharmacy Market to Grow With Impressive CAGR until 2027
UAE E-Pharmacy
Market is anticipated to grow with increasing investments in the healthcare
advancements, in the forecast period, 2023-2027F.
According to TechSci report on, “UAE E-Pharmacy Market - By Region, Competition Forecast &
Opportunities, 2027” UAE E-Pharmacy market might register an
impressive CAGR during the forecast period, 2023-2027, to establish growth due
to factors like developing healthcare services in the country through
technological advancements. Surge in the demand for the pharmaceutical products
in emergency cases is driving the growth of the UAE e-pharmacy market in the
upcoming five years. Healthcare services through online platforms are
expanding, not only pharmaceuticals but therapeutical products, online
consultations from the experts available worldwide, growing demands for second
opinions etc. have supported the growth of the online healthcare services that
also have inclined consumers to explore e-pharmacies and thereby supported the
growth of the UAE e-pharmacy market in the next five years. Increasing
instances of chronic diseases like cardiovascular diseases, neurological
diseases, cancer, etc. are also responsible for the increasing demands for the
pharmaceuticals on an emergency conditions also aids the growth of the UAE
e-pharmacy market in the future five years. Increasing internet penetration,
higher usage of internet of things, artificial intelligence in the pharmaceutical
industry along with the rapidly growing sales of mobile phones further
substantiate the growth of the UAE e-pharmacy market in the forecast years
through 2027.
Affordable
cost of set up initialization and mobile application based services like identification
of the authenticity of the prescriptions, feasibility to order the
pharmaceuticals and therapeutics through mobile apps would further aid the growth
of the UAE e-pharmacy market. Increasing
government initiatives and growing investments in the healthcare industry for
the advancement of the services and technology would substantiate the growth of
the UAE e-pharmacy market. Surging demands for providing world-class healthcare
services, therapeutic opportunities, is also aiding the growth of the UAE E-Pharmacy
market in the forecast period. Moreover, increasing research and mobile app
development along with the expanding distribution channels are also aiding
market growth.
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The
UAE e-pharmacy market is segmented by product type, therapy area, operating
platform, competitional landscape, and regional distribution. Based on product
type, the market is differentiated between prescription drugs and over the
counter drugs. Over the counter drugs are anticipated to hold the largest
revenue shares of the market and dominate the market segment in the upcoming
five years on the grounds of easier access of the over the counter drugs.
Increasing tendency of self-diagnosis among the population and higher
affordability over the online platforms with inclusive tax relaxations, and
subscription based benefits further drives the growth of the UAE e-pharmacy
market in the next five years.
Based
on therapy area, the market is also segmented into vitamins, cold & flu,
dermatology, weight loss, and others. Cold & flu drugs are anticipated to
hold the largest revenue shares of the market and assert the dominance over the
market segment in the upcoming five years on the account of increased pulmonary
diseases and increased breathing problems. Moreover, recent pandemic situation
aided the growth of thew market segment as well as the growth of the UAE
e-pharmacy market in the next five years. Also, vitamins are anticipated to
register significant growth in the upcoming five years on the account of rising
concerns among the consumers regarding health. Vitamins are often administered
as supplements and thus supporting the growth of the sub-segment as well as the
growth of the UAE e-pharmacy market in the future five years.
A
partial list of major market players of the UAE e-pharmacy market includes
·
Aster Pharmacy
·
Life Pharmacy UAE
·
BinSina Pharmacy
·
CHS Community Pharmacy
·
Medicina Group of Pharmacies
·
Soukare
·
800 Pharmacy
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“E-commerce industry has been expanding. Recent pandemic situation
boomed the industry’s growth exponentially. Complete lockdown situation, high
risks of infection, and rapid increase in the mortality rate due to COVID-19
viral infection affected the economies all over the world. Groceries, daily
essentials, along with pharmaceuticals, medical necessities, therapeutic
products, online consultations with the doctors, and lack of physical
visitation; such demands were efficiently being fulfilled through e-commerce
services. Moreover, with the availability of the products on online portals,
the demand for quick delivery, emergency responding delivery, and easier
payment options gave more scope for the market to grow. Online payment services
collaborated with the banks, government adopted the online payment services and
promoted its usage to minimize the infections that altogether supported the
industry. E-pharmacy market in UAE also benefitted from it and it would further
grow since efficiency of the delivery services, easier availability of the
drugs & therapeutics, along with affordable costs of the drugs and
subscription based discounts from the market players would support the growth
of the market in the future five years,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“UAE E-Pharmacy Market By
Product Type (Prescription Medicines v/s Over-The-Counter Medicines), By
Therapy Area (Vitamins, Cold & Flu, Dermatology, Weight Loss, Others), By Operating
Platform (Apps v/s Websites), By Region, Competition Forecast &
Opportunities, 2027” has
evaluated the future growth potential of UAE E-Pharmacy market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in UAE E-Pharmacy market.
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