COVID-19: the push for digitalization
The pharmaceutical sector has experienced growth for several years, but its online presence has never been as prominent as since the COVID-19 pandemic. The global health crisis was the perfect storm to push the segment towards digitalization, as consumers altered their habits and increasingly favored online purchases. As recently as a decade ago, getting a remote medical prescription was virtually impossible and impractical in numerous markets.Times have changed, and today the highest revenue generated for these prescriptions in the U.S. is attributed to mail-order and digital pharmacies. Despite this remarkable progress, the e-commerce penetration of pharmaceuticals still lags behind other retail segments, such as fashion or entertainment. The nature of its goods and strict legal requirements to sell them online have delayed the sector from completely transitioning onto the internet.
The e-pharma shopper profile
Besides trying out the online channel for health-related purchases, many users have wholeheartedly embraced it, establishing it as a regular shopping habit. According to a 2022 survey, more than half of European digital buyers have bought medicines online at least once a month. In several European countries, such as Germany and Italy, online pharma platforms are primarily utilized by women, whereas in the United States, male shoppers buy more pharmaceutical products online.E-pharma is witnessing a significant surge in popularity among millennials. At the beginning of 2023, three in ten global consumers from this generation purchased pharmaceuticals online. This inclination is also noticeable in the U.S., where the largest share of e-pharma purchases comes from individuals aged 25 to 40.
Why shop for pharmaceuticals online?
Since the pandemic, the pharmaceutical sector has demonstrated the immense potential of transitioning traditional pharmacies to the online realm. Both pharmacy organizations and consumers have observed several main benefits of digital pharma, including the general convenience and accessibility of the service and the specific advantage of reduced prices. For example, consumers in Italy feel drawn to shop on e-pharmacies due to low prices and the availability of online shopping services such as home delivery.Pharmacies worldwide are broadening their services beyond online medicine sales by incorporating various offerings into their portfolios, starting with apps and e-prescriptions. Other improvements achieved with pharmaceutical digitization include the flexibility of telepharmacy, online consultations, home delivery with follow-up, and even prescription reminder services.
