GCC E-Pharmacy Market Research Report with Size, Share, Value, CAGR, Outlook, Analysis, Latest Updates, Data, and News 2020-2027

E-Pharmacy are online platforms for buying medicines via mobile technology means which are delivered at the customer’s location. Online Pharmacy improve consumer’s convenience and access among the people who cannot go out for purchasing medicines. Apart from this, E-Pharmacy also offers competitive pricing which thereby enables less affluent people to afford medicines
With the increasing adoption of Information Technology in the healthcare industry and lockdown restrictions in the region, many pharmacies are going online and are connecting patients and retail pharmacy stores to schedule or order their medications through the webpage or application of that pharmacy. For example, Al Daawa Pharmacy, a giant retail Pharmacy located in Saudi Arabia initiated its digital operations in January 2021. The Pharmacy incorporates a digital presence having functional frontiers on the web and mobile. Furthermore, in UAE, many leading Pharmacy bundle teleconsultation and medicine delivery services which is further boosting the growth of the e-Pharmacy market in GCC. For instance, Aster Pharmacy was the first Pharmacy to go online, offering 24/7 availability and free home delivery. In addition to this, it has also integrated its teleconsultation offerings with Aster Clinic.

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Gulf Cooperation Countries e-pharmacy market is anticipated to grow on account of the increasing number of incidences of chronic diseases and growing geriatric population in the region. For instance, according to the United Nations, in 2019, 113 thousand people were aged 65 years or over and it is projected that by 2030. 548 thousand people will be of 65 years or older in the United Arab Emirates. Furthermore, the increasing internet penetration across the region is another factor responsible for the growth of e-pharmacy in Middle East region. For instance, as of April 2019, the internet penetration rate in the Middle East was 67.2% among the local population. However, at the same time, the internet penetration in the rest of the world was 56.8%
Based on Product type, the market is fragmented into skincare, cold & flu, dental, weight loss, vitamins, and others. The cold & flu segment grabbed the major market share and generated revenue of USD 644.6 in 2020. Moreover, the market would reach USD 1,583.9 by 2028 growing with a CAGR of 15.68% during 2022-2028 owing to ease of accessibility of cold & flu products through offline and online distribution channels

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Based on Drug type, the market is fragmented into Over-the-counter (OTC) drugs and prescription drugs. The OTC drugs segment dominated the GCC e-Pharmacy market. The segment generated a revenue of USD 1,592.4 million in 2020 and is expected to grow at a CAGR of 15.39% during the forthcoming years. The demand for over-the-counter drugs is rousting owing to the surge in doctor’s consultation fee and increase in self-medication trends in GCC
The medicines can be ordered online by using different mobile technology platforms. Based on the platforms, the market is fragmented in website and applications. The applications segment grabbed the major market share and dominated the market. The segment generated revenue worth USD 1,069.1 million in 2020 and is expected to grow at a CAGR of 16.95% to reach USD 2,867.6 million by 2028. However, the website segment is expected to witness an exhibit growth during the forecast period

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For a better understanding of the market adoption of the e-pharmacy market, the market is analyzed based on its presence in the countries such as Saudi Arabia, United Arab Emirates, Qatar, Oman, Bahrain, and Kuwait. Saudi Arabia is one of the major countries which constitutes a major e-pharmacy market in GCC over the past few years and generated revenue of USD 1,179.9 million in 2020. Furthermore, the market would reach USD 2,848.3 million by 2028 growing with a CAGR of 14.48% during 2021-2028 owing to the burgeoning elder population and presence of offline Pharmacy at a distant location. Also, the presence of well-established players in the region and the rising seed funding for startups is adding pace to the growth of the market in the country. However, UAE is also expected to grow at the highest CAGR of 17.11% during the forecast period (2022-2028)
Some of the major players operating in the market are Al-Mutawa Pharmacy, Four Seasons Pharmacy, Medisouq, Kulud Pharmacy, and BinSina,. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different countries

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The GCC e-Pharmacy market was valued at USD 2,073.3 million in 2020 and is projected to expand significantly with a CAGR of 15.44% from 2022-2028F. This market is expected to witness a boost on account of the increasing demand for digital Pharmacy due to the changing disease patterns and increased medicine intake. In addition to this, key players are introducing online platforms for purchasing medicines online that will cater to the middle-income and old-age group in the gulf countries propelling the growth of the e-Pharmacy market

TABLE OF CONTENTS

1 MARKET INTRODUCTION
1.1 Market Definitions
1.2 Objective of the Study
1.3 Limitation
1.4 Stake Holders
1.5 Currency Used in Report
1.6 Scope of the GCC E-Pharmacy Market Study
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1 Research Methodology for the GCC E-Pharmacy Market
2.1.1 Main Objective of the GCC E-Pharmacy Market
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 RECENT E-PHARMACY IN GCC
6 VALUE ADDED SERVICES/PRODUCTS OFFERED BY E-PHARMACY
7 COVID-19 IMPACT
8 GCC E-PHARMACY MARKET REVENUE
9 MARKET INSIGHTS BY PRODUCT TYPE
8.1 Skincare
8.2 Cold & Flu
8.3 Dental
8.4 Weight Loss
8.5 Vitamins
8.6 Others

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10 MARKET INSIGHTS BY DRUG TYPE
9.1 Over-the-Counter Drugs
9.2 Prescription Drugs
11 MARKET INSIGHTS BY PLATFORM
10.1 Applications
10.2 Website
12 MARKET INSIGHTS BY COUNTRY
11.1 Saudi Arabia
11.2 UAE
11.3 Qatar
11.4 Oman
11.5 Bahrain
11.6 Kuwait
13 E-PHARMACY MARKET DYNAMICS
12.1 Market Drivers
12.2 Market Challenges
12.3 Impact Analysis
14 GCC E-PHARMACY MARKET OPPORTUNITIES
15 GCC E-PHARMACY MARKET TRENDS
16 LEGAL & REGULATORY FRAMEWORK
17 DEMAND AND SUPPLY SIDE ANALYSIS
14.1 Demand Side Analysis
14.2 Supply Side Analysis
14.2.1 Top Product Launches
14.2.2 Top Business Partnerships
14.2.3 Top Merger & Acquisitions
18 VALUE CHAIN ANALYSIS
19 E-PHARMACY STATUS IN OTHER COUNTRIES
20 COMPETITIVE SCENARIO
20.1 Porter’s Five forces analysis
18.1.1 Bargaining power of Supplier
18.1.2 Bargaining power of Buyer
18.1.3 Industry Rivalry
18.1.4 Availability of Substitute
18.1.5 Threat of new Entrants
21 COMPANY PROFILED
21.1 Al-Mutawa Pharmacies
21.2 BinSina
21.3 Four Seasons Pharmacy
21.4 Medisouq
21.5 Kulud Pharmacy
22 DISCLAIMER —-

….. continued

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Source – HeraldKeeper
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