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According to World Health Organization, the burden of chronic non-communicable diseases (NCDs) like cancer, diabetes, heart disease is on the rise. The WHO estimates these diseases are responsible for 70% of all deaths worldwide. Moreover, the Who also attributes the rise in NCDs to growing use of tobacco, alcohol, unhealthy diets, and physical inactivity. The rising urbanization around the world, and rising sedentary lifestyle among working population will likely drive further escalation of the current crisis in healthcare industry, providing major opportunities for growth for players in the e-pharmacy market.
Convenience of E-commerce, and Schedule Adherence to Remain Major Opportunity for Growth
The e-commerce, and e-pharmacy adoption remains a major area for growth in emerging nations like India. According to the Indian Bar Association report, the country witnesses 60% total deaths due to NCDs. Moreover, the chronic diseases continue to rapidly plague the country, as rapid urbanization, sedentary lifestyle, and mechanization continues to take roots. Furthermore, the treatment for NCDs require long-term care, and organizations like WHO assert that adherence to medical schedule can dramatically improve results in NSDs. However, as with privatization, the cost of health care continues to rise, forcing more patients to rely on in-home long-term medical care. This coupled with growth of nuclear family system, rising isolation among elderly (a vulnerable group) often leads to poor adherence among patients. The rising death toll of lifestyle diseases, and NCDs also will lead to more e-initiatives from governments as the costs of diseases like hypertension, diabetes, and hyperlipidemia lead to major social, and economic costs. These problems continue to plague the working population far more proportion in the current generation. E-pharmacy market promises to solve major challenges with convenience, and digital alerts for medical adherence. The growth of more holistic solutions to guide health improvements among patients will likely provide tremendous growth opportunities for players in the global e-pharmacy market.
E-Pharmacy Likely to Increase Access Among Rural Population
In major markets like the United States, people from rural areas continue to suffer uneven burden of medical issues like disabilities. According to CDC estimates, rural population is likely to report 9% more disabilities as compared to its urban counterpart. This is important as access to healthcare varies significantly, depending on the location of the patient. Moreover, the limited accessibility to healthcare can be life-threatening in chronic conditions like cancer, heart attacks, strokes, which are on the rise. The e-pharmacy market promises to provide a fair playing field, with convenient, and easy-to-access solution for rural patients. The good news for players in the e-pharmacy market is 90% medical practitioners in emerging countries like India, report a positive perception of e-pharmacy. The easy-access, and convenience remain key factors for its growth.
The covid-19 pandemic has provided a major boost for the global e-pharmacy market. The pandemic, and subsequent lockdown led to increased number of patients ordering from home. The growing access to smartphone technology, increased expansion of digitalization, and growing number of chronic illnesses will promise major growth for the global e-pharmacy sales market in near future.
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