United Kingdom E Pharmacy Market to be Dominated by Web Access till 2027
The expanding healthcare sector and the easy availability of
online prescription drugs are projected to cater to the growth of United
Kingdom E Pharmacy market in the forecast period, 2023-2027.
According
to TechSci Research report, “United Kingdom E Pharmacy Market By Region, Competition
Forecast & Opportunities, 2027”,
the United Kingdom E Pharmacy market is expected to witness steady growth in
2023-2027. An e-pharmacy also known as online pharmacy that can be
operated through the internet and to provide medicines to the consumer via
shipping companies. It basically functions through independent internet-only
outlets, online branches of brick-and-mortar pharmacies, and outlets promoting
pharmacy associations. E-pharmacy assists in delivering orders directly to the
customers through mail, shipping companies, or online pharmacy web portals,
without involving the long chain of distributors. E-pharmacy web- or app-based
applications also offer information related to product descriptions, prescribed
dosages, side-effects, etc. Besides this, the busy work schedules and sedentary
lifestyles of the consumers are augmenting the demand for e-pharmacy for
hassle-free purchase of pharma products. The expanding number of mobile-based
software applications supported by numerous in-app benefits, such as discounted
offers, customized purchases, express delivery, etc., is stimulating the market
growth across the United Kingdom. With the sudden onset of the COVID-19
pandemic, the adoption of e-pharmacy platforms has increased to mitigate the
risk of coronavirus infection upon human interaction which is another major
growth-inducing factor.
Elevating
prevalence of chronic disorders and the expanding awareness among the consumers
regarding online pharmacies are offering lucrative opportunities to the market
players. The implementation of e-prescription which is considered as an easy as
well as convenient method for e-pharmacy organizations is expected to augment
the market growth in the forecast period.
However,
growing fraud activities by uploading fake prescriptions, along with the
security and privacy concerns among people regarding the drugs may play the
restraining factors for the growth of the market.
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The
United Kingdom E Pharmacy market is segmented into product
type, therapy area, operation platform, regional
distribution, and competitive landscape.
Based on product type,
the market is bifurcated into prescription medicines and over-the-counter
medicines. Over-the-counter medicines segment dominates the market in forecast
years, 2023-2027. Due to the less requirement of prescription along
with the convenience that the e-pharma facility extends, the adoption of OTC
among patients is rising which acts as a driving factor for the market growth. The
elevating awareness and education regarding the primary medication for numerous
common diseases among the population will benefit the OTC demand.
Based on therapy area, the market is divided into Vitamins,
Cold & Flu, Dermatology, Weight Loss, and others. Dermatology segment is
holding the largest share in the market in the forecast years, 2023-2027.
Increasing concerns towards beauty conscious especially among the females and
the escalating demand for nutritional or the supplement powder through the e-pharmacies
are promoting the market growth. Along with this, the inflating need for
skincare products are supporting the market growth.
Based on operating
platform, the market is divided into apps and websites. Apps segments hold the largest share in the market
in the forecast period, 2023-2027. The elevating demand for the medicines and
the introduction of various apps that delivers the medicine at the doorstep at
a quick pace is fueling the growth for the e-pharmacy market. Also, the
introduction of the upgraded apps with advanced features that can fulfil the
customized requirement of the consumers are expected to stimulate the market
growth.
Leading
market players operating in the United Kingdom e-pharmacy market are:
·
Well
Pharmacy
·
MedExpress
·
Chemist
Direct
·
Healthxchange
Pharmacy (UK) Limited
·
Lloyds
Pharmacy
·
Pharmacy2U
Limited
·
UK
Meds Direct Limited
·
Simple
Online Pharmacy Limited
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“The elevating adoption of e-commerce platforms in the pharmaceutical
industry propels the market growth. The growing internet connectivity coupled
with the increasing penetration of smart devices is supporting the growth of
the market. In addition to this, the expanding geriatric population, who are
more susceptible to chronic disorders that led to muscular impairments drives
the adoption of e-pharmacy services for regulated and door-step delivery of
medicines, medical devices, personal care products, etc. The rising integration
of numerous innovative technologies, including artificial intelligence (AI),
health information technology (HIT), predictive analytics, etc., with
e-pharmacy solutions is expected are anticipated to fuel
the United Kingdom E Pharmacy market growth till 2027” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm”.
“United Kingdom 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 analyzed the future
growth potential of United Kingdom 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 assist decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with significant drivers, challenges, and
opportunities in United Kingdom e pharmacy market.
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