Skip to main content

Why ePharmacy Customers will Reach 1 Billion

Healthcare, and closely related pharmacy services, are due for disruption. Online pharmacies can deliver pharmaceuticals direct to customers, potentially changing the way they compare prices. These patients can now order their medications from registered pharmacists via the Internet.

Patients can simply upload a copy of their prescriptions. Each medication request is controlled by registered pharmacists who direct them to the pharmacy warehouse in the region of the patient.

Patients can access an ePharmacy through a software app, or through a website. Each ePharmacy will provide a variety of different services -- including online consultations, repeat prescriptions, lab tests, and over-the-counter (OTC) medication.

Global ePharmacy Market Development

According to the latest worldwide market study by Juniper Research, the number of ePharmacy users will reach 1 billion globally by 2027 -- that's increasing from 795 million in 2022, a growth of 28 percent.

This increase is partly due to adoption resulting from the COVID-19 pandemic, where consumers were unable to leave their homes and turned to ePharmacies for their medications.

Growth will continue, as vendors focus on retaining and expanding their customer bases by refining the efficiency and simplicity, and lower-cost business operating model that ePharmacy provides.

Juniper predicts that people will continue to use ePharmacies as they reap the benefits of medication affordability, and a wider choice compared to traditional retail pharmacies.

Furthermore, ePharmacy growth will be sustained by simplifying the online process. This is achieved by widespread acceptance of ePrescriptions -- eliminating legacy paper copies of prescriptions.

"ePharmacy 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," said Cara Malone, research analyst at Juniper Research.

Outlook for Global ePharmacy Applications Growth

Juniper analysts anticipate that ePharmacy services will continue to be predominantly utilized for OTC medication. Moreover, OTC transactions will reach 8.9 billion globally in 2027 -- accounting for 64 percent of the total global transaction value.

This is compared to 5 billion medication prescription transactions globally in the same year. That said, I anticipate that ePrescriptions may be impacted from inertia created by the legacy industry players resisting change due to fears that their profitable business model is disrupted.

According to the Juniper assessment, in order to allay these concerns and offset the abundance of new ePharmacies, real-time tracking and stronger regulations should be priorities to secure future growth.

Popular posts from this blog

Digital Transformation Investment at $3.4 Trillion

Business technology leadership matters. Across the globe, more leaders have been pursuing bold Digital Transformation (DX) initiatives with the goal of creating new sources of business value through digital products, services, and experiences. As an additional benefit, the COVID-19 pandemic revealed that digital transformation efforts improve an organization's resilience against global market disruptions. Global DX investment is forecast to reach $3.4 trillion in 2026 with a five-year compound annual growth rate (CAGR) of 16.3 percent, according to the latest worldwide market study by International Data Corporation (IDC). Digital Transformation Market Development "Despite strong headwinds from global supply chain constraints, soaring inflation, political uncertainty, and an impending recession, investment in digital transformation is expected to remain robust," said Craig Simpson, senior research manager at IDC . The benefits of investing in DX technology -- including aut

Artificial Intelligence for National Border Security

National border protection agencies are under pressure to provide the highest level of security in the face of growing threats, such as increasing illegal migration and international terrorism. Now, government agencies are embracing advanced border security technologies to aid in effectively and reliably securing national borders. These solutions look to detect and identify potential threats and prevent them from escalating to a point that may jeopardize security. Security Surveillance Market Development Traditional border security patrols and Closed-circuit Television (CCTV) surveillance systems aren't adequate protection, and agencies must increasingly deploy new solutions to stay ahead of criminals and other potential threats to ensure the safety of a country’s borders. According to the latest market study by Juniper Research, the value of the border security technology market will exceed $70 billion globally in 2027 -- that's rising from $48 billion in 2022. Growing by 47 p

How to Apply Sustainability to Drive Value Creation

Global climate change policy initiatives have been an emerging topic for CEOs and their leadership teams, as they look to the future. Many organizations are preparing to play their part and help reduce carbon emissions. Eighty-seven percent of business leaders expect to increase their organization’s investment in sustainability over the next two years, according to the latest worldwide market study by Gartner. Customers are the stakeholder group creating pressure for these organizations to invest or act on sustainability issues -- selected by 80 percent of executives, followed by investors (60 percent) and regulators (55 percent). Sustainability Market Development "Sustainability enables businesses to cope with disruption," said Kristin Moyer, VP analyst at Gartner . "Economic uncertainty, geopolitical conflict and escalating materials and energy costs are forcing businesses to reexamine all forms of expenditure." According to Gartner, this focus on essentialism --