The global healthcare e-commerce market size is likely to project a CAGR of 16.8% during the forecast years 2021-2028. Customers are becoming more comfortable with going online for their healthcare requirements, such as performing research on symptoms or specific doctors, purchasing items, paying bills, and overall being more informed about their options. Niche internet merchants in the healthcare industry have a potential to prosper.
Pharmaceutical companies, such as CapsuleCares.com, use same-day carriers to guarantee free delivery within two hours to those in the region. Medical device businesses and retailers are also creating e-commerce websites where customers or doctors, along with their support staff, can acquire medical supplies and equipment directly, claiming that online competition drives them to operate differently.
The present and future healthcare e-commerce market progress is summarized to conclude the attractiveness of the entire market. The growth of market is owed to ageing population, growing internet penetration in the healthcare sector and government initiatives to provide better healthcare solutions. Telemedicine is the remote delivery of healthcare services including exams and consltations which reduces cost, time and need for physical visits. Moreover, adoption of healthcare e-commerce surged during the last two years owing to COVID-19 pandemic. Such factors are predicted to boost the healthcare e-commerce market over the forecast years.
Adroit Market Research report on global healthcare e-commerce market gives a holistic view of the market, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for the period 2019 to 2028, with the base year of estimation as 2020 and forecast from 2021 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market based on Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global healthcare e-commerce market have been studied in detail.
Based on type, the global healthcare e-commerce market is categorized into drugs and medical devices. The drugs segment seized the maximum market share of approximately 67% in 2020 and it is likely to maintain its place throughout the forecast years. By application, the global healthcare e-commerce market is categorized into medical consultation, telemedicine, and caregiving services. Medical consultation is projected to dominate the global healthcare e-commerce industry, however caregiving services is projected to witness fastest growth rate over the forecast period.
North America contributed approximately 40% market share in 2020. The US healthcare system is a market of USD 3.2 trillion that breaks down into many distinct sections including hospitals and health services, insurance companies, physician organizations, suppliers of drug and medical equipment, and pharmacies. Healthcare goods, services and prescription expenditure today open up all kinds of fresh possibilities for big pharmacy retail chains such as Walgreens, CVS and even Amazon.com. 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.
The major players of 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, 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, 2019-2028 (USD Billion)
- Medical Devices
Application Overview, 2019-2028 (USD Billion)
- Caregiving Services
- Medical Consultation
End-users Overview, 2019-2028 (USD Billion)
Regional Overview, 2019-2028 (USD Billion)
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of South America
Middle East and Africa
- South Africa
- Rest of Middle East and Africa