E-Pharmacy is the online podiums for purchasing via mobile technology means which are provided at the consumer’s location. Online pharmacy developed the customer’s easiness and admittance amongst the individuals who cannot go out for buying the medicines. Apart from this, the E-pharmacy also proposes the competitive pricing which thereby allows the less affluent individual to afford medicines.
According to the report analysis, ‘GCC E-Pharmacy Market: Current Analysis and Forecast
(2021-2028)’ states that with the effective augment in
implementation of information technology in the healthcare industry and
lockdown limitations around the region, several pharmacies are going online and
are linking the patients and retail pharmacy stores to plan or order their
medications through the webpage or application of that pharmacy.
In addition, the
growth of the e-pharmacy market is accredited to an increment in the number of
internet consumers, augmented admittance to web-based and online services, and
the increasing implementation of e-prescriptions in hospitals and several other
healthcare services.
Although, the boom
in the healthcare segment coupled with high operational price has created the require
to cut functional costs with the implementation of e-Pharmacy solutions. The augmenting
prevalence of chronic circumstances is leading to an augment in the requirement
for several healthcare products, comprising drugs. This signifies the growing
penetration of online modes of drug procurement around the globe.
Furthermore, the proficient
growth in geriatric population is projected to propel the growth of the market.
Affluence of operation, growing digitalization, and increasing number of
beneficiaries record-keeping under Medicare are some of the aspects helping the
growth. Moreover, 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 significant revenue
in 2020.The effective growth in adoption of e-commerce, increasing
geriatric population, growing online sales, developed healthcare
infrastructure, and positive attitude towards the implementation of new
technologies are some of the foremost factors investing to the regional market
growth. The moving trend towards the direct-to-patient model as the digital
world has opened doors to consumer-friendly online involvements and other
advanced services is further propelling the entire market growth around GCC
countries.
In the near future,
it is anticipated that the E-pharmacy
market in the GCC region is predicted to register the greatest CAGR throughout
the review period. This majorly due to it is expected that there will be an augment
in the number of strategic initiatives by several public and private
organizations, and the market across the GCC region is projected to augment at a
speedy pace around the coming years.
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