Global Pharmaceutical E-Commerce Market Size (2024 - 2029)

Global Pharmaceutical E-Commerce Market Analysis

The Global Pharmaceutical E-Commerce Market size is estimated at USD 209.59 billion in 2024, and is expected to reach USD 371.43 billion by 2029, growing at a CAGR of 12.10% during the forecast period (2024-2029).

The pharmaceutical e-commerce market is expected to witness significant growth opportunities amid factors such as the increasing prevalence of chronic diseases, coupled with higher demand for online medicines owing to their cost-effectiveness compared to retail medicines. In addition, the market is also driven by the increasing penetration of smartphones and fostering demand for e-pharmacies due to the greater convenience and affordability associated with it.

The higher burden of chronic diseases is one of the major factors responsible for the higher demand for e-pharmacies, as the management of chronic diseases requires prolonged medicinal therapy and online pharmacies offer more cost-effective medicines than retail outlets. Hence, the requirement for cost-effective medicines for the management of chronic disease is expected to fuel market growth during the study period.

For instance, according to estimates from the American Cancer Society, around 2 million cancer cases are expected to be diagnosed in 2024, compared to 1.93 million cases in 2023 in the United States. Thus, an increase in the burden of cancer is expected to increase the demand for cost-effective medicines, which, in turn, is projected to fuel the demand for online pharmacies during the study period. Thus, the growing burden of chronic diseases is projected to foster market expansion during the study period.

In addition, the market’s growth is also driven by the increasing levels of awareness regarding e-pharmacies and the growing uptake of online pharmacies in low and middle-income countries. For instance, according to an article published by the Saudi Pharmaceutical Journal in August 2023, there is an increasing level of awareness for online pharmacies in Saudi Arabia, and customers expressed great satisfaction with the service provided by these platforms. Thus, the mounting awareness of e-pharmacies among people is projected to accelerate market growth during the forecast period.

Similarly, the paradigm shifts in medicine purchases across most countries and growing preferences for online medicines have created a significant opportunity for market growth. For instance, according to an article published by the Indian Journal of Pharmacology in October 2022, the uptake of online pharmacies increased remarkably after the COVID-19 pandemic in India. The demand increased amid convenience and great quality medicines offered by e-pharmacies. Thus, such an increased uptake of online pharmacies is expected to foster market growth during the study period.

Furthermore, several strategic initiatives undertaken by industry participants are projected to fuel industry expansion during the study period. For instance, in January 2022, TELUS Health launched a digital virtual pharmacy service in Canada to improve medication management and deliver prescription medicines to the doorsteps of Canadians. Thus, such developments undertaken by industry participants are projected to accelerate market growth during the study period.

Global Pharmaceutical E-Commerce Industry Segmentation

As per the report's scope, pharmaceutical e-commerce refers to the online buying and selling of pharmaceutical products, including prescription and over-the-counter medications, through digital platforms and websites. It enables consumers to conveniently purchase medications, access healthcare information, and receive home delivery of their orders. The pharmaceutical e-commerce market is segmented by type, product type, therapeutic area, market type, platform, and geography. By type, the market is segmented into prescription and over-the-counter (OTC). By product type, the market is segmented into vaccines, specialty care, general medicines, and consumer healthcare. By therapeutic area, the market is segmented into diabetes, immune-system diseases, cancer, neurodegenerative diseases, cardiovascular diseases, and other therapeutic areas. By market type, the market is segmented into B2B, B2B2B, B2B2C, and B2C. By platform, the market is segmented into manufacturer-owned digital commerce, distributor/wholesaler-owned digital commerce, manufacturer-owned marketplace, third-party marketplace, and retail. The report also covers the market sizes and forecasts for the pharmaceutical e-commerce market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).