According to the Business Research Report of 2022, the value of the universal healthcare e-commerce market reached up to $89 billion in the year 2021. Moreover, it is expected to grow to $295.3 billion by the year 2026 at a rate of 27.1%, reaching $720.6 billion by 2031.
The Cause of Rise
The healthcare e-commerce industry analysis suggests that there has been a rising prevalence of diseases such as cancer, hypertension, and diabetes that has been a driving factor in the market. It is likely to be attributed to the daily lifestyle of adults on average. For instance, limited physical activity, long working hours, and unhealthy eating.
- Use of Digital Health Tools.
The rising adoption of wearable devices such as smartwatches, fitness trackers, wrist bands, and others, has impacted the industry in a vast manner. Technology has been playing a key role in the health sector. For instance, the use of digital inhalers for patients with asthma has recently approved by the Food and Drug Administration. Or the implementation of the Internet of Things (IoT) within the healthcare industry to ease the work of data collection and develop integrated treatment plans.
A recent report by Research and Markets suggests that the global digital health market will grow at a rate of 30% during the period of 2022 to 2030, with the growing adoption of digital tools contributing to the ratio.
- Augmented Reality
With the need to provide personalized care to patients, augmented reality technologies are becoming the major contributors towards innovating digital services and products across the healthcare market.
In the current scenario, companies such as Amazon use augmented reality to allow doctors to connect with and offer personalized care to patients. Augmented Reality is expected to reach $2.4 dollars by the year 2026.
With such prevalence of chronic diseases, major players are attempting to cover the global healthcare ecommerce and serve customers with digital healthcare solutions. These involve Amazon.com, Walgreens Boots Alliance Inc., Alibaba Health Information Technology Limited, and JD Health International Inc.
According to the business research company’s report, the drug segment will increase its opportunities within the healthcare e-commerce market segment. It would be the tele-medicine segment that would gain a global sale of $115.1 billion by the year 2026.
If the existing e-commerce healthcare opportunities are taken into advantage, the Business Research Company recommends, “The healthcare companies much emphasize on offering digital health tools, integrate artificial intelligence and launch new healthcare applications. This would enable them to expand in developed markets, offer feasible pricing to the low-income countries and also establish relationships with community health centers, clinics and physicians.”
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