E-pharmacy users to grow to 1 billion by 2027: Juniper Research

E-pharmacies – pharmacies that sell medication online – saw immense growth during the pandemic and are expected to reach 1 billion users globally by 2027, according to Juniper Research.

The report reveals that e-pharmacy users are expected to increase by 28 percent over the next five years, growing from 795 billion users in 2022.

According to a recent whitepaper on the topic there are two kinds of e-pharmacies, digital only stores and digital twins of a bricks and mortar store.

“COVID-19 had a large impact on e-pharmacies, with many countries seriously scaling down people’s ability to enter retail premises, including in-person pharmacies, either through lockdowns or reduced opening hours, as well as people not wanting to leave their house due to medical reasons,” the authors state.

“This spike in use has led to e-pharmacies continuing to be a preferred method for ordering medication, with the increase in in-person pharmacies being closed down due to costs.”

Despite Covid restrictions lifting around the world, growth in e-pharmacy use is expected to continue due to the efficiency and simplicity of online purchasing.

According to research author Cara Malone, “E-pharmacy vendors have the ability to further simplify the process through the use of solutions, including consumers receiving their prescribed medication, sorted into daily pouches containing information regarding dosage, date and time to be taken.”

The report emphasises that consumers will continue to realise the benefits of e-pharmacies including affordability and choice.

“E-pharmacy growth will be sustained by simplifying the online process. This can be achieved through more widespread acceptance of e-prescriptions; eliminating paper copies of their prescriptions,” the report states.

While prescription digitalisation is expected to lag, Juniper Research encourages real-time tracking and stronger regulations for e-pharmacies to mitigate the risks of delivery inaccuracies.

“Prescription digitisation will lag behind due to consumer concerns around delivery accuracy, timing and missed deliveries. In order to allay these concerns and offset the abundance of illegitimate e-pharmacies, real-time tracking and stronger regulations for e-pharmacies should be priorities to secure future growth.”