The research looks at the current state of the Farmacia Online pharmacy industry in Europe and the market trends for the years 2019-2025. It thoroughly examines key market growth boosters, constraints, and directions. The research covers both the demand and supply sides of the industry. In addition, it profiles and investigates market leaders and other significant firms.
“The European online pharmacy industry will develop at a more than 14% CAGR between 2019 and 2025.”
Online pharmacies have grown in popularity due to rising internet penetration and the increasing prevalence of chronic illnesses. Farmacia Online is one of Europe’s most popular advancements in emerging and established countries.
As the trend shifts from offline to online, healthcare organizations have a significant opportunity to expand in southern European nations such as France, Germany, Italy, and Spain. Due to the availability of high-speed internet and rising awareness of online over-the-counter advantages. France and Italy are well-established markets that account for a sizable portion of the European market.
Healthcare spending is growing in various European nations due to allocating a large share of capital in the national financial budget. The real variables contributing include the rise in chronic illnesses and the ageing population. To deal with such a scenario, emerging European nations spend a growing share of their GDP on health. The United Kingdom is revamping its National Health Service, established over sixty years ago to optimize healthcare while pursuing significant efficiency savings.
More emphasis is placed on illness prevention, public health, patient empowerment, and out-of-hospital treatment. In addition, government healthcare programs are projected to bolster internet pharmacies as customers strive for improved health, increasing spending on non-prescription medications.
Furthermore, the expanding internet penetration, the deployment of e-prescriptions, enhanced virtual payment, and the ageing population all significantly impact the expansion of the European online pharmacy sector.
“During the forecast period, the following factors are projected to contribute to the growth of the European online pharmacy market:”
- Internet penetration is increasing.
- Increased Economic Growth and Healthcare Spending
- Increase in the Availability of Large Product Offerings and Business Models for Self-Medication
Segmentation of the European Online Pharmacy Market
This study report has a thorough segmentation by platform, kind, and location.
The over-the-counter (OTC) industry is predicted to increase at more than 3% CAGR between 2019 and 2025. The industry is very competitive, with numerous significant competitors, including GlaxoSmithKline, PGT Healthcare, Sanofi, and Bayer.
Because of the loosening of laws in Europe, online sales of OTC drugs have surged. Germany, for example, has seen consistent growth since the implementation of NHS prescriptions, which is bolstering Europe’s online pharmacy business. Furthermore, the spectrum of medicines covered by insurance plans has been decreased, pushing virtual sales of OTC drugs.
During the projection period, the prescription medication segment is likely to be driven by the rising proliferation of e-prescriptions. E-prescription is a critical policy for improving healthcare in Europe. The strategy aspires to create a cross-border electronic healthcare system that will allow individuals to receive and utilize e-prescriptions across Europe.
E-prescriptions are in high demand due to the error-free prescription procedure and the government’s ongoing efforts to provide quality, affordable healthcare.
The unequal distribution of patient-specialists heightens the necessity for precise e-prescribing arrangements. In addition, prescription errors can arise for a variety of causes. As a result, e-prescriptions will promote the Farmacia Online business since they allow for quick interchange and uploading prescriptions without requiring consumers to scan the drug. In 2018, over 1.5 per cent of all prescription medications in Germany were sold online. Furthermore, the government is anticipated to implement e-prescriptions in 2020, which would provide enormous market prospects for suppliers.
In 2017, Europe had over 470 million unique mobile customers. However, the figure is lower in Eastern and Central Europe than in Western Europe. In 2019, more than 45 per cent of Western European citizens used tablets, which is more than double the 21 per cent user rate in Central and Eastern Europe. The expansion of mobile phones is being influenced by the availability of high-speed broadband internet and the growth in disposable incomes among Western European customers.
Western Europe has a smartphone penetration rate of more than 77 per cent, while the Eastern area has a rate of more than 60 per cent. Because of well-developed WCDMA networks and early LTE rollout, the Western area has a significant percentage of mobile broadband subscriptions. However, 4G is likely to reach its peak by 2023, when users transition to 5G services. Furthermore, by 2025, there will be around 205 million 5G connections in Europe, accounting for approximately 30% of overall links. As a result, increased mobile phone penetration is likely to aid the mobile category in gaining market share throughout the projection period.
- Types of Market Segmentation
- Platform Segmentation of the OTC Prescription Market
- Geography-Based Mobile Desktop Insights
Because of the existence of multiple suppliers, the European online pharmacy market is centred in Germany, the United Kingdom, and France. While e-prescriptions and the tech-savvy population are increasing across the area, the industry is expected to develop in the future regardless of demographic differences. With rising health awareness and internet penetration, there is a good chance that mobile and desktop users would choose online drug shopping.
Germany has the most extensive online pharmacy market, accounting for around 56 per cent of the industry in 2019. The United Kingdom and France are the second and third largest markets. They are expected to grow at the fastest rates due to increased mobile penetration, an ageing population, rising chronic diseases, expanding strategic collaborations with health tech companies, and improving virtual payment modules.
Countries with High Profiles
- France \Germany \UK
- Italy \Spain \Netherlands
- Switzerland
- Poland \Sweden
- Russia
- Czechoslovakia
Vendor Perspectives
The online pharmacy market in Europe is expanding, and it has acquired popularity and high penetration in the area, particularly in the United Kingdom, Germany, the Netherlands, and Switzerland.
However, no substantial advancements have occurred in nations such as Spain, Italy, Poland, and the Czech Republic, where sellers have enormous chances to expand.
The quickly changing technical environment, such as internet usage and devices used to access the internet, may benefit vendors since these variables drive development in online retail sales, which is expected to promote online pharmacy sales in the region.
To maintain a strong market presence, companies are changing and refining their special value offer. Vendors are fighting for a more significant portion of the market. Before internet pharmacies, independent brick-and-mortar and chain pharmacies had a considerable market presence. The arrival of big online pharmacies and their desire to expand in Europe and worldwide led them to purchase several well-known market players.
