E-commerce is changing the healthcare landscape, and understanding the consequences of this change is crucial for healthcare suppliers. By 2025, the global healthcare e-commerce market revenue is estimated to reach USD 435.8 billion.
Dallas, United States - November 6, 2020 /MarketersMedia/ —
By 2025, the global healthcare e-commerce market revenue is estimated to reach USD 435.8 billion. E−commerce is increasingly becoming a common method of shopping by customers across the globe, however the market for pharmaceutical drugs and medical devices has been slow to embrace digital approaches due to the heavy level of legislative scrutiny and government regulations under which products are marketed. The safety, efficiency, claims and packaging of each healthcare products are regulated by lawmakers and respective regional governments.
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Therefore, marketers of pharmaceutical and healthcare products have been hesitant to jump aggressively into digital marketing since the company is no longer fully in control of the brand’s message in the digital environment, such as with bloggers and on social media. However, as healthcare e-commerce continues to evolve from being just a sales channel to also a critical awareness driver, leveraging e−commerce will become critical to the growth of all pharmaceutical and medical device manufacturers. Digitization in any business is expected to have influenced majority of all sales and is similar trend is anticipated to further boost the growth of healthcare e-commerce over the forecast period.
Healthcare E-commerce Market: COVID-19 Implications to Offer Ample Growth Triggers with Massive Adoption of Telemedicine
E-commerce as a standalone platform is witnessing massive inclusion and high potential growth across retail industries. However, with technological advances, improved outlook of millennial consumers as well as pronounced internet improvements even in the remote realms seem to collectively orchestrate tremendous growth spurt in global healthcare-e-commerce market.
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Adroit Market Research takes a detailed tour of the global healthcare -e-commerce market to gauge into ongoing market developments, technological innovations, fast track changes in policies that collectively maneuver thumping growth in global healthcare-e-commerce market.
Healthcare has been a late adopter of e-commerce channels. However, with new consumer belts joining in and to offset challenges of traditional supplychain architecture, e-commerce in healthcare is gaining significant traction in recent times on the back of operational efficiency, cost management and also to ensure ample competitive edge.
Digital transformation across verticals and sectors backed by requisite government support have been exemplary in reckoning high value growth. Healthcare e-commerce is in place to create a more collaborative gamut connecting healthcare professionals and patients on a remote and virtual platform, thus mitigating all distance specific limitations that often hinder with optimum care delivery. Supplychain disruption has been a significant development at the backdrop of COVID-19 spread. challenges in logistics and supplies continue to serve as significant bottlenecks in care delivery system. Thus, the situation is supporting rife growth for healthcare e-commerce models of care delivery to meet tremendous healthcare gaps.
Healthcare e-commerce involves the selling of various medical supplies including both consumables as well as devices. Therefore, website developers are targeting to incorporate parallel functionalities on a single platform aligning with end-user needs. Advances in telemedicine to mitigate the challenges of time and distance that interfere with on-time care delivery are being significantly supported by reliance on e-commerce platforms.
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On the basis of region, the healthcare e-commerce market is segmented into North America, Europe, Asia Pacific, South America and Middle East & Africa. North America contributed more than 40% market share in 2018 and Asia Pacific is anticipated to grow with the highest CAGR over the forecast period owing to growing internet penetration and base of large patient pool.
Some of the key players in the global healthcare e-commerce market are Amazon, Flipkart Pvt. Ltd., Exactcare Pharmacy, eBay Inc., Alibaba Group Holding Ltd., Lloyds Pharmacy Ltd., Remdi Senior Care, Remdi Senior Care, McCabes Pharmacy, CVS Health, MedLife, FSA Store, Netmeds and Kroger Co among other prominent players.
Key segments of the global healthcare e-commerce market
Type Overview, 2015-2025 (USD Million)
• Drugs
• Medical Devices
Application Overview, 2015-2025 (USD Million)
• Telemedicine
• Caregiving Services
• Medical Consultation
End User Overview, 2015-2025 (USD Million)
• Hospitals
• Clinics
• Others
Regional Overview, 2015-2025 (USD Million)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Rest of Asia Pacific
• South America
• Brazil
• Rest of South America
• Middle East & Africa
• South Africa
• Rest of MEA
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Adroit Market Research is an India-based business analytics and consulting company. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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Website: https://www.adroitmarketresearch.com/industry-reports/healthcare-e-commerce-market
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