GCC E-Pharmacies market is Expected to Grow at a CAGR of 9% During 2023-2028

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The GCC E-Pharmacies Market size is expected to grow at a CAGR of around 9% during the forecast period, i.e., 2023-28, cites MarkNtel Advisors in the recent research report, the rising adoption of information technology in the healthcare industry, increasing smartphone users, and rapid penetration of fast-internet services in rural & urban areas drive the market growth.

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, further states the research report, “GCC E-Pharmacies Market Analysis, 2023”.

GCC E-Pharmacies Market Segmentation Analysis

Cold & Flu is the Major Revenue Generator for the GCC E-Pharmacies Market

The significant revenue driver for the GCC E-Pharmacies Market is cold & flu, attributed to the escalating allergies caused by rising pollution levels and changing environmental conditions due to substantial CO2 emissions in the GCC. Sedentary lifestyles, increased consumption of fast food, and a surge in children falling ill are contributing factors. The transition from e-learning to traditional classes has imposed physical and mental stress on students, leading to decreased stamina levels and increased fatigue. Factors like irregular sleep patterns, excessive screen time, poor dietary habits, and reduced physical activity are lowering immunity levels, resulting in a rise in cold and flu cases in the region, thereby propelling the growth of the GCC E-Pharmacies Market.

UAE is Projected to Acquire a Significant Share of the E-Pharmacies Market

The UAE is expected to secure a significant share of the E-Pharmacies Market from 2023 to 2028. This prediction indicates a significant development in the country's healthcare sector. The main reason behind this projection is the rapidly increasing aging population, especially those aged 65 and above, who are more prone to acute and chronic health issues and might find it difficult to reach pharmacies located far from their homes.

Additionally, the flourishing pharmaceutical industry in the UAE, supported by growing government investments in establishing top-notch healthcare infrastructure, and the escalating imports of pharmaceuticals to meet the ever-growing consumer demands, are also major factors driving the expansion of the e-pharmacies market in the country in the years ahead.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Care n Cure Pharmacy, Wellcare Pharmacy, BinSina, Aster Pharmacy (Aster Online), Al Mutawa Pharmacies, Inc, MediSouq, Kulud Pharmacy, Nahdi Pharmacy (Nahdi Medical Company), Medicina Pharmacy, Nasser Pharmacy W.L.L., NextDoorMed, etc., and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & solution adoption?
5. How has the competition been shaping up across the country?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2018-28?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?