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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