E-pharmacy Market - Size, Share, Outlook, and Opportunity Analysis, 2018-2026 The global e-pharmacy beauty and personal care market is expected to reach US$ 20.20 billion by 2027, witnessing significant growth over the forecast period (2019-2027). This is owing to increasing internet penetration coupled with growing demand for beauty and personal care products. According to a report by Internet World Stats published in December 2018, the number of internet users reached 4,208 million in June 2018 (with 55.1% penetration), up from 3,270 million in 2015 (with 45.0% penetration) across the globe. Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/2561 E-pharmacy (BPC) market is majorly driven by changing lifestyles, increasing number of youth and working population, along with increasing awareness about personal care and beauty products is contributing to high demand for personal care products. Furthermore, this is leading to high sales of these products through e-pharmacy channels and others. Authenticity and comparative low prices attract consumers towards online pharmacy channels over other e-commerce websites. E-pharmacy can be used to order products online, which aids to reduce cash transactions and promotes cashless economy. The government of India is taking efforts to promote digital payment systems through the launch of ‘Digital India Initiative’ in July 2015. This initiative aims to offer internet access and mobile phone coverage across India, which in turn is expected to help several people to receive online access and utilize digital payment technique. Moreover, in order to encourage poor and illiterate people in rural areas to make digital payments, the government of India launched ‘Aadhaar Pay’ in March 2019, which ensures financial transactions online. It is expected to help people in rural areas to order personal care products at a single click, where pharmacy stores are not available nearby. Therefore, increasing government initiatives to promote cashless economy is expected to boost growth of the market over the forecast period. The global e-pharmacy beauty and personal care market was estimated to be worth US$ 7.69 billion in 2018, and is expected to register a CAGR of 11.4% in terms of revenue, over the forecast period (2019 – 2027).
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.