DUBLIN--(BUSINESS WIRE)--The "Europe E-Pharmacy Market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The Europe e-pharmacy market is expected to reach a value of $79.43 billion by 2029 from $29.65 billion in 2023, growing at a CAGR of 17.85% from 2023 to 2029
The Europe e-pharmacy market report consists of exclusive data on 51 vendors. The market is moderately competitive, with only a few leading companies dominating the market. However, there are significant growth opportunities for new entrants. Although the market is led by major players, many emerging and smaller companies have entered the market in the past few years.
Leading players focus on implementing various strategies, such as opening new facilities, marketing and promotional activities, pursuing M&A, increasing market penetration, and forming collaborations to enhance their market share and presence. These companies have a wide geographical reach across Europe, a diversified service portfolio, and a strong focus on delivering higher-quality services in Europe e-pharmacy market. Currently, some major companies are DocMorris (Zur Rose Group), Redcare Pharmacy (Shop Apotheke), Atida Sante Discount, and The Boots Company PLC.
In Europe, the market landscape for e-pharmacies is highly diverse mainly due to the regulations and demographics. In Europe, the UK and Germany are two major countries that allow to sale of prescription medicines through e-pharmacies. Some countries widely implemented e-prescription strategies, and some countries are expanding digital strategies to strengthen healthcare and pharmacy services.
For instance, in Finland, digital strategy is widely implemented. Finnish people can even buy their digital prescriptions in Estonia. Sweden and Denmark are the two countries with widely integrated digital tools in healthcare settings including pharmacies and are well ahead of the EU-5 countries. In Estonia, electronic solutions have long been leading the way in the healthcare sector, including e-pharmacies.
The EU-4 & UK accounted for the largest Europe ePharmacy market share. In the European e-pharmacy market, the EU-4 and UK regions have shown promising growth and significant dominance, driven by the allowance of prescription medicine sales in Germany and the UK. Additionally, the rollout of e-prescriptions in Germany is creating substantial momentum for market growth in the region.
France is one of the leading countries by revenue share, despite only allowing the sale of OTC products online. Italy and Spain are emerging market destinations where further development is needed to achieve substantial growth. The increasing adoption of e-health platforms and the mandatory e-prescription model in Germany and the UK are driving the expansion of e-pharmacy services in these two countries.
MARKET OPPORTUNITIES & DRIVERS
Recent Developments In Europe ePharmacy
Europe has witnessed significant development in the e-pharmacy sector over the past few years. This growth has been primarily driven by the five major countries: Germany, the UK, France, Italy, and Spain. Over the last 2-3 years, advancements in the healthcare sector across European countries have created a favorable environment for the expansion of the e-pharmacy market. For example, in 2022, the European Cross-Border Electronic Prescription (CBeP) system was introduced in six rapidly developing countries in the healthcare and e-pharmacy sectors, including Spain, Poland, Portugal, Croatia, Finland, and Estonia.
Additionally, several other countries are in the process of implementing CBeP, which is expected to create significant opportunities for the sale of over-the-counter (OTC) and certain prescription medications through e-pharmacies. Recently, Germany has made notable progress by taking steps toward the digitalization of its public healthcare sector, making e-prescriptions mandatory. As of 2024, patients in Germany now receive only digital prescriptions. This shift has increased public attention and acceptance of e-pharmacies, creating significant market growth opportunities.
Integration of E-pharmacies with Delivery Management Solutions
Integrating e-pharmacies with a delivery management solution is the new era of e-pharmacy development. Several integrated platforms offer pharmacy delivery services that help store data, deliver reports, and provide e-prescriptions. Furthermore, it also acts as a multi-store location and user management system. Providers offer data about medicine and drug inventory online with those delivery management services. The owner of delivery management systems (software) can access the system and edit drugs in case of unavailability.
Therefore, customers (physicians or patients) can easily select and buy the required medicine. Medicine delivery software and systems are integrated with multiple payment modes so patients can easily pay for selected medicines. Pharmacy services providers find it easy to conduct overall business procedures and streamline the functioning of systems with the help of pharmacy delivery management systems.
Rising Internet & E-commerce Penetration
Europe continues to evolve with increasing internet penetration, even in remote areas. As internet access expands, more people are becoming aware of online sales channels, including e-commerce and e-pharmacies. The rise in internet usage has spurred rapid adoption of e-commerce, enhancing consumer awareness of online shopping. E-pharmacies have been developing as essential channels in the pharmaceutical supply chain and continue to grow with broad acceptance. Purchasing medicines from verified and legitimate e-pharmacy websites has become a common practice, particularly in Germany and the UK.
INDUSTRY RESTRAINTS
Substandard and Falsified Medicines
Counterfeit, substandard, and falsified drugs are major concerns for health professionals in Europe and worldwide, affecting both traditional and e-pharmacies. The WHO has stated that these types of drugs are becoming a significant public health threat, impacting both developed and developing countries. Worldwide, approximately 11% of medicines are substandard or falsified. Counterfeit medicines pose a serious threat to public health, and the increased use of e-pharmacies has made it easier for these drugs to enter supply chains. The growing concern over the use of online pharmacies, combined with the mass production of fake medicines, leads to an increase in the falsified drugs industry.
A WHO survey estimated that 50% of drugs sold online or over the internet are counterfeit, even if internet dispensaries may appear legitimate. The National Association of Boards of Pharmacy reported that 85% of online pharmacy drugs do not comply with the pharmacy laws and patient safety standards of NABP. In addition, it was revealed that 25% of patients treated with medicines from online pharmacies experienced adverse effects over the past decade.
KEY TAKEAWAYS
- By Medicine Type: The OTC medicine segment holds the largest market share. The segmental growth is due to a shift towards home care, preventive healthcare, and the self -care/medication.
- By Platform: The mobile segment shows the highest growth, with a CAGR of 18.03% as this platform is more convenient, portable, and accessible for buying medicines online.
- By Product Type: The medication segment dominates & holds the largest market share of over 75%. The growing patient population with various health conditions and the demand for self-medication drive the segment.
- By Age Group: The above 50 age group segment shows the highest growth, as this age group accounted for a high prevalence of chronic diseases.
- By Region: The EU-4 & UK dominate & hold the largest Europe e-pharmacy market share. The EU-4 & UK region has shown promising growth and the highest dominance due to the allowance of prescription medicines in Germany and the UK.
- Growth Factor: The Europe e-pharmacy market is set to grow due to the integration of e-pharmacies with delivery management solutions and increasing attention towards self-care & self-medication.
RECENT VENDORS ACTIVITIES
- In 2024, DocMorris announced that the online customer of the Zur Rose Pharmacy will be supplied with OTC and Prescription Medicines on request by the DocMorries Pharmacy from its Heerlen-based logistic center. In upcoming years, DocMorris will close its Zur Rose Pharma GmbH service location in December 2024.
- In 2024, DocMorries announced that it increasing investment in new prescription medicine (Rx) customers, as its sales of Rx grew year-on-year in Europe.
KEY QUESTIONS ANSWERED
- How big is the Europe e-pharmacy market?
- What are the factors driving the Europe e-pharmacy market growth?
- What is the growth rate of the Europe e-pharmacy market?
- Who are the major players in the Europe E-pharmacy market?
- Which region dominates the Europe e-pharmacy market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 136 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $29.65 Billion |
| Forecasted Market Value (USD) by 2029 | $79.43 Billion |
| Compound Annual Growth Rate | 17.8% |
| Regions Covered | Europe |
Key Vendors
- DocMorris (Zur Rose Group)
- Redcare Pharmacy (Shop Apotheke)
- Atida Sante Discount
- The Boots Company PLC
Other Prominent Vendors
- Apotekete AB
- AMX Holdings (MEDIX PHARMACY)
- Apteka.ru
- Chemist Direct
- Lloyds Pharmacy
- MonCoinSante
- Apotea AB
- Azeta
- BestPharmacy
- Chemist 4 U
- Cococenter
- eApteka
- DeOnlineDrogist
- Farmacia Internacional
- Euro-pharmas
- Express Pharmacy
- EVERER GmbH
- University Pharmacy
- Index Medical (Dr Fox Pharmacy)
- Juvalis
- INHOUSE PHARMACY
- Lyf og heilsa hf.
- lekarnawpk.cz
- MediService AG
- farmae.it
- Lekarnar.com
- MEDS
- Lyfjaver
- myCARE eK
- PromoFarma Ecom, S.L.
- Newpharma
- Mistletoe Pharmacy
- Prvalekarna
- Oxford Online Pharmacy
- parafarmacia-online
- Pharm24
- Pharmacy2U
- Pharmacy4U
- The PROTEK Group
- The Independent Pharmacy
- shopware AG (Sanicare)
- Simple Online Pharmacy
- MedExpress Enterprises Ltd
- The French Pharmacy
- UK Meds Direct Ltd
- WebMed Pharmacy
- Vamida
SEGMENTATION INSIGHTS
By Medicine Type
- Over the Counter (OTC)
- Prescription Medicine
By Platform
- Mobile
- Desktop
By Product Type
- Medications
- Health & Wellness and Nutrition
- Personal Care & Essentials
- Other Products
By Age Group
- Below 50
- Above 50
By Geography
-
EU-4 & the UK
- Germany
- UK
- France
- Italy
- Spain
-
Central & Eastern Europe
- Poland
- Netherlands
- Russia
- Switzerland
- Czech Republic
-
Nordic Countries
- Denmark
- Sweden
- Norway
- Finland
- Iceland
For more information about this report visit https://www.researchandmarkets.com/r/r9ax1z
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