According to the MarkNtel Advisors' research report, "GCC E-Pharmacies Market Analysis 2023," the market is likely to grow at 9% CAGR during 2023-28 due to the rising adoption of information technology in the healthcare industry, increasing smartphone users, and rapid penetration of fast-internet services in rural & urban areas. Further, mounting customer preference for online platforms and doorstep delivery of healthcare products. In addition to this, e-pharmacy enhances consumers' comfort and access, thereby catalyzing the growth of the e-pharmacy industry.
Key questions answered in the study
Vitamin Segment Accounted for the Largest Market Share
Based on the product type, the Vitamin segment dominated the GCC E-pharmacies market in the previous year due to snowballing awareness regarding the importance of vitamins, the rising number of people consuming dietary supplements, increasing demand for nutrition-enriched products, and soaring consumption of multivitamins.
"GCC E-Pharmacies Market Analysis, 2023" provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for E-Pharmacies providers across the countries. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
Saudi Arabia Exhibits Fastest Growth
Saudi-Arabia market is likely to register the fastest growth in the GCC E-Pharmacies market during 2023-28 due to a shift in consumer preferences towards the online platform and willingness to purchase medicines online. The surging utilization of advanced technologies for enhancing consumers' experiences presents a lucrative growth opportunity for the market. Further, most pharmaceutical companies are strategizing market plans to improve their online services in the years to come due to the spread of the COVID-19 pandemic. Therefore, the region is likely to contribute to the growth of the GCC E-Pharmacies market in the forecast period, reveals MarkNtel Advisors in their research report, "GCC E-Pharmacies Market Analysis, 2023."
According to MarkNtel Advisors, the major leading companies in the GCC E-Pharmacies market are Care n Cure Pharmacy, Wellcare Pharmacy, BinSina, Aster Pharmacy (Aster Online), Four Seasons Pharmacy LLC, MediSouq, Kulud Pharmacy, Nahdi Pharmacy (Nahdi Medical Company), Al-Dawaa Pharmacies (DMSCO), Nasser Pharmacy W.L.L., Al Mutawa Pharmacies, Inc.