Increased internet penetration and awareness of online OTC benefits leading the revenue to $65.47 billion by 2028
Arizton is proud to announce the publication of its groundbreaking report, Europe E-Pharmacy Market – Industry Outlook and Forecast 2023-2028. This comprehensive report covers a wide range of protein products, market segments, and regional analysis, providing insightful data to key players and businesses operating in the global protein market.
The market is trending in most of Europe's developing and developed countries. The trend from offline to online is the future, and there is a major growth potential for online pharmacies in Southern European countries, such as France, Germany, Italy, and Spain. The fastest-growing regional market is Germany due to the increased internet penetration and awareness of online OTC benefits. France and Italy are highly established markets that contribute to significant shares in the European market. There is a rapid rise in the prevalence rate of chronic diseases in Germany and the UK. Increased internet penetration and the prevalence of chronic diseases in developed countries paved the way for the development of online pharmacies in recent years. People are more inclined to make payments online instead of paying by cash and find online shopping more convenient, resulting in a positive scenario for adopting online pharmacies in the upcoming years.
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The online pharmacy market in Europe is growing at a healthy rate. The online pharma distribution channel is the most common way of buying OTC and prescription medical products, especially during the COVID-19 pandemic. There is a high penetration of the online pharmacy market in the Netherlands, the UK, Switzerland, and Germany in the European Union. The market is in a growth stage in various European countries due to the high internet penetration rate, growing self-medication, and the introduction of e-prescriptions in various countries. The market is strengthened with the presence of key players in the online pharmacy market, such as Zur Rose Group and SHOP APOTHEKE. These are two major market competitors that account for a higher market share across Europe and in global markets.
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OTC Drugs Market to Boom in the Upcoming Years
OTC drugs are medications consumers can purchase without a prescription at drug stores and online platforms, while prescription drugs demand a prescription from an authorized person. The rules for online pharmacies are different in various countries. There is a definition of what is a prescription drug and what is not, which means that some drugs available only with a prescription in some EU countries may be obtained without one elsewhere. The use of OTC medicines increases over time due to increased health awareness and self-medication among consumers. Many pharmaceutical companies manufacture OTC medicines and provide them globally.
Online pharmacies receive higher requests for OTC and prescription medicines. OTC drugs do not require doctors' or healthcare specialists’ prescriptions, reducing the barriers to e-pharmacies. Prescription medicines, drugs, and medical devices can also be ordered through e-pharmacies. Self-medication preference is a common term where OTC drugs are commonly used and purchased through e-pharmacies in Europe. OTC drugs are the majorly preferred medicines as the first line of treatment due to no stringent regulations and restrictions. OTC drugs do not have critical complexities for distribution compared with prescription drugs.
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The EU-4 & UK region is one of the fastest-growing regions for e-pharmacies. The countries, including EU-4 & UK, are leading the market with higher market share than other regions and countries. The factors that accelerate market penetration are the increased use of internet users, the aging population, and huge developments in healthcare settings. Germany and the UK are the major countries where health and pharmaceutical authorities allow online sales of prescription and OTC products. France, Italy, and Spain allow the sale of OTC products through online pharmacies. Germany and the UK are the leading countries with high market growth opportunities. France is the leading country, which accounts high revenue share. Even OTC products are allowed for sale online. Italy and Spain are emerging markets where substantial development is required for market growth.
Key Questions Answered in the Report:
- How big is the Europe e-pharmacy market?
- What is the growth rate of the Europe e-pharmacy market?
- What are the growing trends in the Europe e-pharmacy market?
- Which region holds the most significant Europe e-pharmacy market share?
- Who are the key players in the Europe e-pharmacy market?
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