New York, United States , July 29, 2024 (GLOBE NEWSWIRE) -- The Global Healthcare E-Commerce Market Size is Expected to Grow from USD 301.8 Billion in 2023 to USD 1362.15 Billion by 2033, at a CAGR of 16.27% during the forecast period 2023-2033.
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Healthcare e-commerce, commonly referred to as eHealth or healthcare e-commerce, is the term used to describe the online purchasing and selling of healthcare-related products and services. E-commerce platforms give medical professionals as well as organizations access to a wide variety of medical equipment, ranging from surgical instruments to diagnostic gadgets. Healthcare e-commerce helps consumers get prescriptions online and consult with doctors who are located in remote areas by integrating telemedicine and telehealth services. The availability of over-the-counter and prescription drugs using digital platforms will help in market expansion. The demand for home healthcare is increasing, which is driving the healthcare e-commerce market's significant expansion. Due to e-commerce platforms, patients can currently more readily get a range of healthcare products and services online, regardless of where they are physically located. Patients can compare prices, read product reviews, and shop online from the comfort of their homes. The ease of use of online purchasing has contributed to the growth of telemedicine, which enables virtual communication between patients and medical experts. However, the healthcare e-commerce industry is affected by several restrictions on online transactions, which restrict its expansion and impair consumer trust.
Browse key industry insights spread across 194 pages with 120 Market data tables and figures & charts from the report on the "Global Healthcare E-Commerce Market Size, Share, and COVID-19 Impact Analysis, By Type (Drugs, Medical Devices), By Application (Telemedicine, Caregiving Services, Medical Consultation), By End-User (Consumers, Healthcare Professionals, Hospitals & Clinics, and Pharmacies), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The drugs segment is predicted to hold the largest market share through the forecast period.
Based on the type, the healthcare e-commerce market is classified into drugs and medical devices. Among these, the drugs segment is predicted to hold the largest market share through the forecast period. The number of people with chronic medical conditions has increased, which has led to an increase in the demand for prescription drugs. One of the primary reasons this category is growing is the simplicity of purchasing prescription medications online and having products delivered straight to the home.
The telemedicine segment is anticipated to hold the highest market share during the projected timeframe.
Based on the application, the healthcare e-commerce market is divided into telemedicine, caregiving services, and medical consultation. Among these, the telemedicine segment is anticipated to hold the highest market share during the projected timeframe. The main benefits of telemedicine are its low cost, user-friendliness, and capacity to deliver medical care virtually. Due to the rising demand for telemedicine services, the healthcare e-commerce market is expected to rise rapidly throughout the forecast period.
The consumer segment is predicted to hold the largest market share through the forecast period.
Based on the end user, the healthcare e-commerce market is divided into consumers, healthcare professionals, hospitals & clinics, and pharmacies. Among these, the consumer segment is predicted to hold the largest market share through the forecast period. The healthcare e-commerce services are easy to use and accessible for personal use, consumers tend to favor them. Customers value having the freedom to investigate products, evaluate them, and make informed decisions from home.
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North America is estimated to hold the largest share of the healthcare e-commerce market over the forecast period.
North America is estimated to hold the largest share of the healthcare e-commerce market over the forecast period. North America is a developed region with a robust digital infrastructure in healthcare. The region's healthcare e-commerce industry is growing as a result of factors such as the increasing number of internet users, the high rate of smartphone adoption, and the growing desire for online shopping. The increasing demand for online medical consultations, online appointment scheduling, and electronic prescriptions is driving growth in the North American healthcare e-commerce market.
Asia Pacific is predicted to have the highest CAGR growth in the healthcare e-commerce market over the forecast period. Asia Pacific e-commerce in the healthcare market has been facilitated by the region's aging population, rising demand for online medical services, and rising internet and mobile technology use. In addition, the region is home to several developing economies that are rapidly integrating state-of-the-art technologies to improve their healthcare infrastructure and expand healthcare accessibility for the general public.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the healthcare e-commerce market include Amazon, Exactcare Pharmacy, Flipkart Pvt. Ltd, Alibaba Group Holding Ltd., Dr. Reddy's Laboratories Ltd, Walmart, Inc., Eli Lilly, Piramal Wellify, NextPlat, McCabes Pharmacy, GE Healthcare, Siemens Healthcare, Cerner Corporation, CVS Health, and Others.
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Recent Developments
- In February 2024, The objective is for NextPlat Corp to launch online stores in China under the OPKO Health trademark. The Chinese populace will have access to wellness products, such as vitamins and nutraceuticals, through this new online store.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the healthcare e-commerce market based on the below-mentioned segments:
Global Healthcare E-Commerce Market, By Type
- Drugs
- Medical Devices
Global Healthcare E-Commerce Market, By Application
- Telemedicine
- Caregiving Services
- Medical Consultation
Global Healthcare E-Commerce Market, By End User
- Consumers
- Healthcare Professionals
- Hospitals & Clinics
- Pharmacies
Global Healthcare E-Commerce Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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