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Healthcare E-Commerce Global Market Report 2021: COVID-19 Growth And Change To 2030

Healthcare E-Commerce Global Market Report 2021: COVID-19 Growth And Change To 2030

  • September 2021
  • 175 pages
  • ID: 6151612
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the healthcare e-commerce market are Amazon, Exactcare Pharmacy, Flipkart Pvt. Ltd., Alibaba Group Holding Ltd., eBay Inc., Remdi SeniorCare, Lloyds Pharmacy Ltd., McCabes Pharmacy, Walgreens Boots Alliance Inc., and CVS Health.

The global healthcare e-commerce market is expected to decline from $352.23 billion in 2020 to $346.87 billion in 2021 at a compound annual growth rate (CAGR) of -1.5%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $643.07 billion in 2025 at a CAGR of 17%.

The healthcare e-commerce market consists of sales of healthcare products and their related services.E-commerce is also known as internet commerce or electronic commerce and refers to the sales and purchase of goods and services using the internet.

It enables healthcare institutions, hospitals, clinics, and other healthcare facilities to purchase medical equipment and supplies through online channels. Healthcare e-commerce includes buying and selling medical devices and drugs and offers advantages such as convenience, lower prices & discounts, a wide range of products, replacement & refund policies, reviews & feedbacks, and quality certifications.

The healthcare e-commerce market covered in this market is segmented by type into drug, medical devices. It is also segmented by application into telemedicine, caregiving services, medical consultation.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Stringent regulations and cybersecurity laws are expected to limit the growth of healthcare e-commerce market during the period.According to e-retailing laws and regulations in India, e-retailing companies hit hard by the policy for e-commerce in India including the healthcare e-commerce industry.

Moreover, healthcare-related e-commerce platforms are mandated to make their cybersecurity infrastructure resilient and robust.The online pharmacies and telemedicine must comply with the techno legal regulations together with making their websites cyber secure.

Therefore, stringent regulations imposed by various country governments are likely to restraint the growth of the healthcare e-commerce industry market over the approaching years.

In October 2019, Amazon.com, Inc., America-based multinational technology company acquired digital health startup, Health Navigator, which provides technology and services to digital health companies, for an undisclosed amount. Health Navigator will join Amazon Care group, which serve as a medical benefit for employees and helps provide care virtually, through a video visit, and with home visits if additional care is needed. This service will eliminate travel and wait time as it connects employees and their family members to a physician or nurse practitioner through live chat or video.

Increasing consumer spending on medical products coupled with rising internet penetration is to contribute higher demand for the healthcare e-commerce market in the upcoming years.Growing demand for healthcare products and high internet penetration is enabling people to switch to online products, which in turn are creating higher demand for online healthcare products.

According to an article published in 2019, healthcare spending in the USA increased at a rate of 4% to $3.6 n in 2018 up from 3.5 trillion in 2018. Moreover, according to WeAreSocial’s Stats published in January 2020, the total internet users across the globe in 2020 increased to 4.54 billion with a growth of 298 million or 7% in comparison with January 2019. This scenario is anticipated to propel the revenues for healthcare e-commerce market over the forecast period.

The launch of new healthcare applications for connecting doctors and patients directly is a leading trend driving the healthcare e-commerce market.In December 2019, XcelTech Group, a software and mobile app development company known for delivering excellence in IoT technology, and engaging mobile applications, announced the launch of a new healthcare platform, MyCare Softech Private Limited, a personalized healthcare assistance app.

MyCare apps connect patients to doctors through a secure mobile application. Therefore, the launch of new healthcare applications is likely to shape the growth of the healthcare e-commerce market in the near future.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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