Global Healthcare E-Commerce Market Size 2024, Forecast To 2033
11 Mar, 2024
The healthcare e-commerce market has witnessed rapid growth, increasing from $366.94 billion in 2023 to $434.88 billion in 2024 at a compound annual growth rate (CAGR) of 18.5%. The historic period's growth is attributed to the growth of emerging markets, the adoption of advanced technology in response to COVID-19, rapid growth in the aging population, a rise in digital payments, and increased internet penetration. Looking ahead to 2028, the market is anticipated to experience rapid growth, reaching $874.76 billion at a CAGR of 19.1%. This projected growth is driven by the rising prevalence of chronic diseases and increasing awareness of a healthy lifestyle. Key trends in the forecast period include the adoption of wearable devices to enhance business reach, the utilization of AR technologies for personalized patient experiences, the implementation of AI-powered tools for personalized buying experiences and increased revenues, a focus on product launches to enhance product portfolios with improved technologies, investments in acquisitions to increase market share and expand product portfolios, and the need for a clear strategy for current and future offerings.
Global Healthcare E-Commerce Market Key Driver
The healthcare e-commerce market is poised for substantial growth, fueled by increasing consumer spending on medical products and rising internet penetration. Elevated demand for healthcare products and the convenience of online accessibility are driving a notable surge in online healthcare product demand. In September 2021, the Centers for Medicare & Medicaid Services reported a 7.8% increase in expenditure on prescription drugs, reaching $378.0 billion, surpassing the 3.7% growth recorded in 2020. Medicare spending surged by 8.4%, reaching $900.8 billion, constituting 21% of the total National Health Expenditures (NHE), while Medicaid spending increased by 9.2% to $734.0 billion, accounting for 17% of the total NHE. This trajectory is expected to propel the healthcare e-commerce market's revenues over the forecast period. The market size for healthcare e-commerce in 2023 is indicative of this upward trajectory and is poised for further expansion in 2024 and 2028.
Get A Free Sample Of The Global Healthcare E-Commerce Market ReportGlobal Healthcare E-Commerce Market Segments
The healthcare e-commerce market covered in this report is segmented –
1) By Type: Drug, Medical Devices
2) By Application: Telemedicine, Caregiving Services, Medical Consultation
3) By End User: Hospitals, Clinics, Others
By Geography:The regions covered in the healthcare e-commerce market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
North America was the largest region in the healthcare e-commerce market in 2023. Asia-Pacific was the second largest region in the global healthcare e-commerce market share. The regions covered in the healthcare e-commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Healthcare E-Commerce Industry Players
Amazon.com, Inc., Alibaba Health Information Technology Limited, Walgreens Boots Alliance Inc., LloydsPharmacy Limited (McKesson Europe), JD Health International Inc. (JD.com, Inc), CVS Health Corporation, Shop Apotheke Europe, Teladoc Health, Inc, DocMorris N.V., eBay Inc., 1mg.com, Healthkart.com, Netmeds.com, PharmEasy.com, Medlife.com, SastaSundar.com, Ali Health, Jianke.com, 111, Inc, Shimadzu Corporation, Menicon, Konica Minolta, Omron, Fukuda, Nihon Kohden, Sysmex, Nipro, Olympus, Echo, Babylon Health, BenevolentAI, Lantum, DoctorLink, Unmind, Thriva, Pando Health, Owkin, Dental Monitoring, eCential Robotics, Enterome, Hype, BioSerenity, Oxford Nanopore Technologies, Doctolib, Telehealth app KRY, Albertsons Companies Inc ., Optum Rx Inc ., Rowlands Pharmacy, Giant eagle Inc ., Walmart Stores Inc ., CIGNA (Express Scripts), Rite Aid, Zur Rose Group AG, PlanetRX.com Inc ., Familymeds Inc, Medisave, The Kroger Co., MercadoLibre, Al-Noor Medical Company, VPS Healthcare, Tumbay group, Al-Zahra Group, Belhoul Lifecare, Emirates Healthcare, Mediclinic Middle East, Aster DM Healthcare, Gulf Healthcare International, Gulf Medical Projects Company, Zulekha Hospital, Saudi German Hospital Group, Aster DM Healthcare, Vezeeta, Yodawy Smart Medical Services, Bypa-ss, Rology, Shezlong, Estshara, DentaCarts, Vitls, Healthforce, 3X4 Genetics, RecoMed, SyncroPhi, Ingress Healthcare, VitruvianMD, Link Health Technology
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Healthcare E-Commerce Market Overview
Healthcare e-commerce refers to the sale and purchase of healthcare goods and services using the internet. It enables healthcare institutions, such as hospitals, clinics, and other healthcare facilities, to purchase medical equipment and supplies through online channels. Healthcare e-commerce includes buying and selling medical devices and drugs and offers advantages such as convenience, lower prices and discounts, a wide range of products, replacement and refund policies, reviews and feedback, and quality certifications.
Healthcare E-Commerce Global Market Report 2023 provides data on the global healthcare e-commerce market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The healthcare e-commerce market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.