E-pharmacy Market Size

E-pharmacy Market Size

The global e-pharmacy market size was valued at USD 86.2 billion in 2023 and is estimated to grow at a CAGR of 13.3% from 2024 to 2032. E-pharmacy refers to the online platform where consumers can purchase prescription and OTC medications, other healthcare products, and access related services through digital channels. These platforms offer convenience, privacy, and accessibility, allowing users to order medications directly to their doorstep.

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The market is experiencing substantial growth, driven by the increasing demand for convenient and accessible healthcare options. Expanding internet access, widespread smartphone adoption, and a growing consumer preference for digital health platforms simplify online access to medications, especially for chronic conditions and recurring prescriptions. For instance, the India Brand Equity Foundation (IBEF) reported that internet penetration in India is accelerating due to affordable smartphones and widespread 4G access.
 

Driven by the Digital India campaign, the country is expected to reach 850 million internet users by 2025. With shifting consumer preferences and increased digital engagement, e-commerce penetration is anticipated to hit 11% by 2024. Thus, this expansion in internet access and e-commerce adoption fuels e-pharmacy growth, enabling broader reach and convenient access to medications, and aligning with consumers’ digital shopping preferences.
 

Additionally, e-pharmacies also benefit from the self-care trend, as consumers increasingly seek prompt access to both over-the-counter (OTC) and prescription medicines. Thus, enhanced privacy, comprehensive product information, and adaptable delivery options increase their appeal, positioning e-pharmacies as a vital component of modern healthcare distribution.