A new study has found that the number of ePharmacy users will reach 1 billion globally by 2027, increasing from 795 million in 2022, a growth of 28 per cent. 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 ePharmacies. Growth will continue, as vendors focus on retaining and expanding their customer bases by refining the efficiency and simplicity that ePharmacy provides, according to the study.
The research predicts that consumers will continue to utilise ePharmacies 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 ePharmacy growth will be sustained by simplifying the online process. This can be achieved through more widespread acceptance of ePrescriptions, eliminating paper copies of prescriptions.
The research anticipates that ePharmacy services will continue to be predominantly utilised for OTC medication. OTC transactions will reach 8.9 billion globally in 2027, accounting for 64 per cent 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, say the study authors. In order to allay these concerns and offset the abundance of illegitimate ePharmacies, real-time tracking and stronger regulations for ePharmacies should be priorities to secure future growth, they added.
The study was carried out by Juniper Research and is available at www.juniperresearch.com/press releases/epharmacy-users-to-reach-1bn-globally-by-22.
