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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