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ePharmacies - Global Strategic Business Report
Global Industry Analysts, Inc, August 2011, Pages: 228
This report analyzes the worldwide markets for ePharmacies in US$ Million. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, and Rest of World. Annual estimates and forecasts are provided for the period 2009 through 2017. A six-year historic analysis is also provided for these markets.
The report profiles 72 companies including many key and niche players such as
- CVS Caremark (US)
- CanAmerica Drugs, Inc. (Canada)
- Table 2: Comparison of Select Drug Prices Offered by
- CanAmerica and US Retail Pharmacies
- CanadaDrugs.com (Canada)
- CanDrugstore.com (Canada)
- drugstore.com, Inc. (US)
- DocMorris (The Netherlands)
- Domzdrowia.pl SA (Poland)
- ePharmacy (Australia)
- eDrugstore.MD (US)
- Lloyds Pharmacy Ltd. (UK)
- MediSave (Canada)
- PlanetRx.com (US)
- Rowlands Pharmacy (UK)
- The SANICARE Group (Germany)
- Walgreen Co. (US)
Market data and analytics are derived from primary and secondary research. Company profiles are mostly extracted from URL research and reported select online sources.
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1. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS 1
Study Reliability and Reporting Limitations 1
Disclaimers 2
Data Interpretation & Reporting Level 3
Quantitative Techniques & Analytics 3
Product Definitions and Scope of Study 3
ePharmacies: A General Categorization 3
Classification Based on the Need for Prescription 4
Classification based on the eStrategy Adopted 4
2. INDUSTRY OVERVIEW 5
Internet Globalizes Drug Sales through ePharmacies 5
Table 1: Global: Percentage Distribution of ePharmacies by
Host Country (2008) (includes corresponding Graph/Chart) 5
Regional Analysis 6
ePharmacies Bring Potential Value to Customers 6
ePharmacies Enable Better Care and Enhance Quality of Life 6
Prescription Drugs Fuel the Growth of Electronic Pharmacies 6
Re-importation or Cross Border Drug Sales: An Area of Concern
in the US 7
Cyber Crime in the Name of ePharmacies on the Rise 7
Threat Posed by Illegal Internet Operations Likely to Hamper
Penetration of ePharmacies 7
ePharmacies: A Brand Spoiler? 8
Illegal ePharmacies Affect Market Size Estimations 8
3. SERVICE OVERVIEW 9
Factors Favoring Consumer Inclination towards ePharmacies 9
Pharmacies and the eCommerce Business Model 9
ePharmacies: A General Categorization 9
Classification Based on the Need for Prescription 9
Classification based on the eStrategy Adopted 10
Conventional Pharmacies vs. Electronic Pharmacies: A Comparison 10
Benefits Conferred by eCommerce Business Model 10
Feasibility of Electronic Pharmacies 10
The Click and Brick Strategy 11
ePharmacies: Stakeholders 11
Processes and Components of an ePharmacy 12
Drug Regulatory Authorities of Select Countries 12
Benefits of ePharmacies 13
Possible Risks Associated with Electronic Pharmacies 13
An Assessment of Factors that Deter People from Purchasing
Medicines Online 14
4. RECENT INDUSTRY ACTIVITY 15
BinghamShore Launches www.zipcodemeds.com 15
RX Introduces Rxbuys.com 15
Lloydspharmacy Takes Over Betterlife Healthcare 16
DOZ and Onet.pl Jointly Launch MedOnet.pl 16
Cancer Prescription Drugs Partners CancerDrugsDirect.com 16
AccessRx.com Introduces New Smartphone Application 17
drugstore.com to Take Over Salu 17
Walgreens Re-Launches Walgreens.com 17
Chemist.net Announces Online Availability of Dettol No-Touch
Hand Wash System 18
Lloydspharmacy Announces Online Availability of Tamiflu 18
Best Pills Unveils bestpills.co.uk 18
5. FOCUS ON SELECT PLAYERS 19
CVS Caremark (US) 19
CanAmerica Drugs, Inc. (Canada) 19
Table 2: Comparison of Select Drug Prices Offered by
CanAmerica and US Retail Pharmacies 19
CanadaDrugs.com (Canada) 20
CanDrugstore.com (Canada) 20
drugstore.com, Inc. (US) 20
DocMorris (The Netherlands) 20
Domzdrowia.pl SA (Poland) 21
ePharmacy (Australia) 21
eDrugstore.MD (US) 21
Lloyds Pharmacy Ltd. (UK) 22
MediSave (Canada) 23
PlanetRx.com (US) 23
Rowlands Pharmacy (UK) 24
The SANICARE Group (Germany) 24
Walgreen Co. (US) 24
6. GLOBAL MARKET PERSPECTIVE 25
Table 3: World Recent Past Current & Future Analysis for
ePharmacies by Geographic Region - US, Canada, Europe,
Asia-Pacific, and Rest of World Independently Analyzed with
Annual Sales Figures in US$ Million for Years 2009 through
2017 (includes corresponding Graph/Chart) 25
Table 4: World Historic Review for ePharmacies by Geographic
Region - US, Canada, Europe, Asia-Pacific, and Rest of World
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2003 through 2008 (includes corresponding
Graph/Chart) 26
Table 5: World 15-Year Perspective for ePharmacies by
Geographic Region - Percentage Breakdown of Dollar Sales for
US, Canada, Europe, Asia-Pacific, and Rest of World for Years
2003, 2010 & 2017 (includes corresponding Graph/Chart) 27
7. THE UNITED STATES 28
A.Market Analysis 28
‘Big Three' Lead the US Wholesale Drugs and Pharmacy Sector 28
ePharmacies Continue to Witness Growth at a Substantial Pace 28
Table 6: Prices of Select Drugs in ePharmacies in the US
and Canada: A Comparison (As on July 2010) (includes
corresponding Graph/Chart) 29
Baby Boomers to Drive the Increase in Online Sale of
Prescription Drugs 29
Increasing Drug Abuse From Sales through the Internet 29
Recent Market Trends 30
Re-importation 31
FDA's Personal Importation Policy (1954) 31
Players in the Early Days 32
Classification of ePharmacies 32
ePharmacies: A Categorization based on Prescription
Requirement 32
A Review of Investigations on ePharmacies by the US GAO 32
Pricing 33
Problems Identified with Prescription Drugs Obtained from
ePharmacies that do not Require a Valid Prescription 33
Regulation of Pharmacies in the US 34
Controlled Substances 34
Federal Food, Drug, and Cosmetic Act (FDCA) 34
United States e-Pharmacy Law (1970) 35
Concerns 35
Federal Regulations Governing ePharmacies 35
Verified Internet Pharmacy Practice Sites 36
Ryan Haight Online Pharmacy Consumer Protection Act of 2008
(Ryan Haight Act) 36
Personal Importation of Drugs 36
The US: Provisions and Acts of Select States 37
Virginia (2008) 37
Texas (2007) 37
District of Columbia (2009) 37
Alabama (2008) 37
Arkansas Internet Prescription Consumer Protection Act (2008) 37
2009 Arkansas Senate Bill 120 38
Delaware: Safe Internet Pharmacy Act (2009) 38
Indiana (2009) 38
North Carolina (2009) 39
Kentucky 39
Regulations for ePharmacies based outside Kentucky 39
Florida (2009) 40
About ePharmacy Permits (2009) 40
ePharmacies distributing drugs without a permit (2009) 40
Nevada 40
Illegal Internet Pharmacies (2008) 41
LEGISLATIONS: Implemented in 2009 41
North Dakota Senate Bill 2218 41
2009 Iowa House File 381 42
Strategic Corporate Developments 42
Select Players 45
CVS Caremark 45
drugstore.com, Inc. 45
eDrugstore.MD 45
PlanetRx.com 46
Walgreen Co. 46
B.Market Analytics 47
Table 7: The US Recent Past Current & Future Analysis for
ePharmacies Independently Analyzed with Annual Sales Figures
in US$ Million for Years 2009 through 2017 (includes
corresponding Graph/Chart) 47
Table 8: The US Historic Review for ePharmacies
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2003 through 2008 (includes corresponding
Graph/Chart) 47
8. CANADA 48
A.Market Analysis 48
Overview of the Canadian ePharmacy Industry 48
Canadian Regulations Support Online Sale of Drugs 48
Re-importation 49
Issues and Concerns 49
Origin of the Canadian ePharmacy Industry 50
Initial Challenges 50
Canadian Regulations 51
Impact of ePharmacies on Pharmaceutical Drug Distribution Chain 51
NAFTA 52
The Role of Health Canada 52
Squaretrade Licensed Pharmacy Program 53
Strategic Corporate Development 53
Select Players 53
CanAmerica Drugs Inc. 53
Table 9: Comparison of Select Drug Prices Offered by
CanAmerica and US Retail Pharmacies 54
CanadaDrugs.com 54
CanDrugstore.com 54
MediSave 55
B.Market Analytics 55
Table 10: Canadian Recent Past Current & Future Analysis for
ePharmacies Independently Analyzed with Annual Sales Figures
in US$ Million for Years 2009 through 2017 (includes
corresponding Graph/Chart) 55
Table 11: Canadian Historic Review for ePharmacies
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2003 through 2008 (includes corresponding
Graph/Chart) 56
9. EUROPE 57
A.Market Analysis 57
What Possibly Makes Electronic Pharmacy a Feasible Business
in Europe? 57
European Countries Permitting Online Sale of Medicines (2007) 59
Table 12: Leading European Mail Order and ePharmacies by
Annual Sales (in US$ Million) (2009) (includes
corresponding Graph/Chart) 59
Germany: Largest European Market for Electronic and Mail
Order Pharmacies 60
Possible Risks 60
DocMorris (The Netherlands) - A Key Player 60
B.Market Analytics 61
Table 13: European Recent Past Current & Future Analysis for
ePharmacies by Geographic Region - France, Germany, Italy,
UK, and Rest of Europe Independently Analyzed with Annual
Sales Figures in US$ Million for Years 2009 through 2017
(includes corresponding Graph/Chart) 61
Table 14: European Historic Review for ePharmacies by
Geographic Region - France, Germany, Italy, UK, and Rest of
Europe Independently Analyzed with Annual Sales Figures in
US$ Million for Years 2003 through 2008 (includes
corresponding Graph/Chart) 62
Table 15: European 15-Year Perspective for ePharmacies by
Geographic Region - Percentage Breakdown of Dollar Sales for
France, Germany, Italy, UK, and Rest of Europe for Years
2003, 2010 & 2017 (includes corresponding Graph/Chart) 63
9a. FRANCE 64
Market Analysis 64
Table 16: French Recent Past Current & Future Analysis for
ePharmacies Independently Analyzed with Annual Sales Figures
in US$ Million for Years 2009 through 2017 (includes
corresponding Graph/Chart) 64
Table 17: French Historic Review for ePharmacies
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2003 through 2008 (includes corresponding
Graph/Chart) 64
9b. GERMANY 65
A.Market Analysis 65
Market Overview 65
The SANICARE Group: A Key Player 65
B.Market Analytics 66
Table 18: German Recent Past Current & Future Analysis for
ePharmacies Independently Analyzed with Annual Sales Figures
in US$ Million for Years 2009 through 2017 (includes
corresponding Graph/Chart) 66
Table 19: German Historic Review for ePharmacies
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2003 through 2008 (includes corresponding
Graph/Chart) 67
9c. ITALY 68
Market Analysis 68
Table 20: Italian Recent Past Current & Future Analysis for
ePharmacies Independently Analyzed with Annual Sales Figures
in US$ Million for Years 2009 through 2017 (includes
corresponding Graph/Chart) 68
Table 21: Italian Historic Review for ePharmacies
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2003 through 2008 (includes corresponding
Graph/Chart) 68
9d. THE UNITED KINGDOM 69
A.Market Analysis 69
Historic Perspective 69
Current Scenario 69
Share of ePharmacies in Pharmacy Sales Likely to Surge 69
Regulatory Framework Governing Electronic Pharmacies in the UK 70
Strategic Corporate Developments 71
Select Players 72
Lloyds Pharmacy Ltd. 72
Rowlands Pharmacy 73
B.Market Analytics 73
Table 22: The UK Recent Past Current & Future Analysis for
ePharmacies Independently Analyzed with Annual Sales Figures
in US$ Million for Years 2009 through 2017 (includes
corresponding Graph/Chart) 73
Table 23: The UK Historic Review for ePharmacies
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2003 through 2008 (includes corresponding
Graph/Chart) 74
9e. REST OF EUROPE 75
A.Market Analysis 75
Sweden 75
Poland 75
Strategic Corporate Developments 75
Domzdrowia.pl SA (Poland) - A Key Player 76
B.Market Analytics 76
Table 24: Rest of Europe Recent Past Current & Future
Analysis for ePharmacies Independently Analyzed with Annual
Sales Figures in US$ Million for Years 2009 through 2017
(includes corresponding Graph/Chart) 76
Table 25: Rest of Europe Historic Review for ePharmacies
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2003 through 2008 (includes corresponding
Graph/Chart) 77
10. ASIA-PACIFIC 78
A.Market Analysis 78
ePharmacies in the Indian Market 78
China 78
Prescription Drugs Sales through ePharmacies is Prohibited
in China 78
Online Order and In-store Delivery: The Sole Legitimate
ePharmacy Model in China 79
ePharmacy (Australia) - A Key Player 79
B.Market Analytics 80
Table 26: Asia-Pacific Recent Past Current & Future Analysis
for ePharmacies Independently Analyzed with Annual Sales
Figures in US$ Million for Years 2009 through 2017 (includes
corresponding Graph/Chart) 80
Table 27: Asia-Pacific Historic Review for ePharmacies
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2003 through 2008 (includes corresponding
Graph/Chart) 80
11. REST OF WORLD 81
A.Market Analysis 81
Brazil: ANVISA's Regulations for Remote Selling 81
B.Market Analytics 81
Table 28: Rest of World Recent Past Current & Future
Analysis for ePharmacies Independently Analyzed with Annual
Sales Figures in US$ Million for Years 2009 through 2017
(includes corresponding Graph/Chart) 81
Table 29: Rest of World Historic Review for ePharmacies
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2003 through 2008 (includes corresponding
Graph/Chart) 82
COMPETITIVE LANDSCAPE
Total Companies Profiled: 72
------------------------------------------
Region/Country Players
------------------------------------------
The United States 32
Canada 16
Europe 13
Germany 1
The United Kingdom 8
Rest of Europe 4
Asia-Pacific (Excluding Japan) 8
Latin America 1
Middle-East 2
------------------------------------------
The Internet is one of the breakthrough technological developments of the 20th century, and presently forms a part of people’s daily life all over the world. It facilitates in conducting business operations, such as sales of all kinds of products, including medication. Electronic pharmacies (ePharmacies) sell medications over the Internet. The total revenue generated by the ePharmacy industry worldwide is estimated to be in several billion dollars. However, the present market scenario reflects higher penetration in developed countries, as compared to the less developed markets. The boundless nature of the Internet also presents several challenges, as the global ePharmacy industry is not governed by all-encompassing infallible regulatory guidelines. Consequently, the market also comprises several rogue ePharmacies that do not comply with the necessary safety and regulatory guidelines thereby causing a number of discrepancies. They represent a potential threat to patient safety and thus present several regulatory challenges.
The developed markets of US, Europe, and Canada together account for a lion’s share of the global ePharmacies market, as stated by Global Industry Analysts's new market research report on ePharmacies. The US represents the largest regional market. Europe represents the second largest as well as fastest growing market for drug sales through ePharmacies growing at a compounded annual rate of more than 20% over the analysis period.
Feasibility of an electronic pharmacy is largely determined by its expanse, which enables co-ordination with large chain pharmacies and drug manufacturers, as well as in inventory optimization. Large chains facilitate growth, and provide a cost advantage to electronic pharmacies. Specialization in a particular market segment, such as cancer or diabetes, represents another feasible approach to capture the market, although to a great extent, the benefits would possibly be counterbalanced by the cost incurred in providing doorstep delivery. However, considering the low weight of pharmaceutical products, doorstep delivery through mail delivery or parcel delivery services represents a convenient and ideal alternative. On the positive side, customers benefit from delivery of the product at the doorstep, which adds to the ePharmacy’s capability in providing efficient customer service. Electronic pharmacies, associated with a conventional brick and mortar pharmacy, are likely to be more successful in comparison to standalone ePharmacies. ePharmacies, however, need to develop a system for managing insurance co-payments.
Pharmacies with an e-Commerce business model enable customers in availing improved services in terms of quality of care, convenience, and low priced drugs, particularly to those residing in remote locations and those who are homebound either due to a disease or aging. ePharmacies are playing a significant role in the prescription drugs market, given the pricing advantage as well as the ease of ordering and obtaining a drug without having to visit a pharmacy store. Despite the fact that ePharmacies represent a convenient way of purchasing drugs and availing cost benefits as well, the parallel emergence of fake or illegal ePharmacies presents a major challenge given the potential risk associated with buying drugs from unlicensed pharmacies.
Proliferation of illegal ePharmacies has raised questions on the reliability of this medium of drug purchase, which is expected to be the reason for its variable market penetration. Issues facing the ePharmacy industry include parallel emergence of rogue ePharmacies, Re-importation or parallel trade of drugs, rising drug abuse due to easy accessibility of prescription drugs, and other potential risks associated with this medium of drug sales.
The emergence of fake Internet pharmacies has resulted in ePharmacies being looked upon by pharmaceutical companies as a medium utilized by counterfeiters, promoting unauthorized sale and import of drugs. Nearly 50% of the world’s ePharmacies operate in the US, which has raised several issues pertaining to their impact on the brand value of a drug. ePharmacies have promoted parallel trade, thereby considerably weakening the US market for branded drugs, as well as generic drugs to a certain extent. This could be attributed to their availability at prices lower than the market price in the US, from ePharmacies operating low-cost markets outside the US. Adopting measures, such as curbing the supply of drugs to ePharmacies, taken by US manufacturers has resulted in ePharmacies obtaining much cheaper generic versions from eastern European countries. Some manufacturers have also implemented an increase in drug prices in low-cost markets, to cut down the profit margin of ePharmacies.
Global Industry Analysts ©
- CVS Caremark (US)
- CanAmerica Drugs, Inc. (Canada)
- Table 2: Comparison of Select Drug Prices Offered by
- CanAmerica and US Retail Pharmacies
- CanadaDrugs.com (Canada)
- CanDrugstore.com (Canada)
- drugstore.com, Inc. (US)
- DocMorris (The Netherlands)
- Domzdrowia.pl SA (Poland)
- ePharmacy (Australia)
- eDrugstore.MD (US)
- Lloyds Pharmacy Ltd. (UK)
- MediSave (Canada)
- PlanetRx.com (US)
- Rowlands Pharmacy (UK)
- The SANICARE Group (Germany)
- Walgreen Co. (US)
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