Healthcare E-Commerce Global Market Report 2022

Major players in the healthcare e-commerce market are Amazon, Exactcare Pharmacy, Flipkart Pvt. Ltd, Alibaba Group Holding Ltd, eBay Inc, Remdi SeniorCare, Lloyds Pharmacy Ltd, McCabes Pharmacy, Walgreens Boots Alliance Inc, and CVS Health.

The global healthcare e-commerce market is expected to grow from $261.25 billion in 2021 to $309.62 billion in 2022 at a compound annual growth rate (CAGR) of 18.5%. The market is expected to grow to $613.94 billion in 2026 at a compound annual growth rate (CAGR) of 18.7%.

The healthcare e-commerce market consists of sales of healthcare products and their related services.E-commerce is also known as internet commerce or electronic commerce and refers to the sales and purchase of goods and services using the internet.

It enables healthcare institutions, 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 & discounts, a wide range of products, replacement and refund policies, reviews and feedback, and quality certifications.

The main types of healthcare e-commerce are drug and medical devices.A drug refers to a substance that is used to prevent, diagnose, treat, or relieve symptoms of a disease or abnormal condition.

The various applications involved are telemedicine, caregiving services, medical consultation that are used in hospitals, clinics, and other end users.

North America was the largest region in the healthcare e-commerce market in 2021.Asia Pacific was the second largest region in the healthcare e-commerce market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Increasing consumer spending on medical products coupled with rising internet penetration is to contribute to higher demand for the healthcare e-commerce market in the upcoming years.Growing demand for healthcare products and high internet penetration are enabling people to switch to online products, which in turn are creating higher demand for online healthcare products.

According to Centres for Medicare & Medicaid services data 2021, U.S. health care spending has been increased to 9.7 percent in 2020, reaching $4.1 trillion or $12,530 per person. As a share of the nation’s Gross Domestic Product, health spending accounted for 19.7 percent. Moreover, according to WeAreSocial’s Stats published in January 2020, the total internet users across the globe 2020 increased to 4.54 billion with a growth of 298 million or 7% in comparison with January 2019. This scenario is anticipated to propel the revenues for the healthcare e-commerce market over the forecast period.

Stringent regulations and cybersecurity laws are expected to limit the growth of the healthcare e-commerce market during the period.According to e-retailing laws and regulations in India, e-retailing companies are hit hard by the policy for e-commerce in India including the healthcare e-commerce industry.

Moreover, healthcare-related e-commerce platforms are mandated to make their cybersecurity infrastructure resilient and robust.Online pharmacies and telemedicine must comply with the techno legal regulations together with making their websites cyber secure.

Therefore, stringent regulations imposed by various country governments are likely to restraint the growth of the healthcare e-commerce industry market over the approaching years.

The launch of new healthcare applications for connecting doctors and patients directly is a leading trend driving the healthcare e-commerce market.In December 2019, XcelTech Group, a software and mobile app development company known for delivering excellence in IoT technology, and engaging mobile applications, announced the launch of a new healthcare platform, MyCare Softech Private Limited, a personalized healthcare assistance app.

MyCare apps connect patients to doctors through a secure mobile application. Therefore, the launch of new healthcare applications is likely to shape the growth of the healthcare e-commerce market in the near future.

In October 2019, Amazon.com, Inc., an American-based multinational technology company acquired digital health startup, Health Navigator, which provides technology and services to digital health companies, for an undisclosed amount. Health Navigator will join the Amazon Care group, which serves as a medical benefit for employees and helps provide care virtually, through a video visit, and with home visits if additional care is needed. This service will eliminate travel and wait time as it connects employees and their family members to a physician or nurse practitioner through live chat or video.

The countries covered in the healthcare e-commerce market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.