ePharmacy users to reach 1bn globally by 2027
The research identified this increase as the culmination of surging adoption resulting from the Covid-19 pandemic, where consumers were unable to leave their homes and turned to receiving medication through e-pharmacies.
Growth will continue, as vendors focus on retaining and expanding their customer bases by refining the efficiency and simplicity that e-pharmacy provides.
The research predicts that consumers will continue to utilise e-pharmacies as they realise the benefits they provide them, including affordability of medication, and a wider range of choice compared to bricks‑and-mortar pharmacies.
Furthermore, the report predicts that e-pharmacy growth will be sustained by simplifying the online process. This can be achieved through more widespread acceptance of e-prescriptions; eliminating paper copies of prescriptions.
Research author, Cara Malone remarked: “e-pharmacy vendors have the ability to further simplify the process through the use of solutions, including consumers receiving their prescribed medication, sorted into daily pouches containing information regarding dosage, date and time to be taken.”
Issues surrounding delivery remain a barrier
The research anticipates that e-pharmacy services will continue to be predominantly utilised for over-the-counter (OTC) medication. OTC transactions will reach 8.9 billion globally in 2027; accounting for 64% of total global transaction value.
This is compared to 5 billion prescription transactions globally in the same year. Prescription digitisation will lag behind due to consumer concerns around delivery accuracy, timing and missed deliveries. In order to allay these concerns and offset the abundance of illegitimate e-pharmacies, real-time tracking and stronger regulations for e-pharmacies should be priorities to secure future growth.
Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports, and industry commentary.
