An IQVIA Consumer Health QuickView looking at how the COVID-19 pandemic has accelerated the rise of online and e-Pharmacy services within consumer healthcare. Amit Shukla, Global VP, Consulting Services, IQVIA Consumer Health, looks at how consumers during the pandemic embraced e-Pharmacy and how consumer trends towards prevention and wellness are driving the growth of digital healthcare retailers.

e-Pharmacy & the Consumer Healthcare industry is thriving

The Consumer Health industry is thriving despite the chaos caused by the pandemic — and in some cases, because of it. The 18 months that consumers spent stuck at home, wearing masks, and avoiding public spaces has spurred innovation in the consumer healthcare sector, and caused consumers to rethink their approach to health and wellness. This has triggered or accelerated a number of trends in the consumer health marketplace — including the continued growth in ‘wellness’ categories and the rise of e-Pharmacies.

In terms of sales, 2021 global MAT Q2 value sales of OTC products edged up by 2.1%, yet the data reflected the growing consumer interest – accelerated by the pandemic – in prevention and wellness products, with sales of vitamins, minerals and supplements jumping 10.7%, in contrast to more ‘traditional’ market drivers such as cough, cold and respiratory products.

A big beneficiary of the pandemic has been e-Pharmacy. With consumers forced to avoid shopping centers, they moved more of their day-to-day purchases online, with e-Pharmacies providing a safe and convenient online channel for purchasing essential healthcare products. As a result, e-Pharmacy sales now contribute about 5-10% of the global consumer health market.

Disruptive times for consumer health companies

These are disruptive times for consumer health companies, who are facing new global competitors, unfamiliar shopping behavior, and an evolving market landscape. The companies that proactively adapt their sales strategy and use consumer data to realign their commercial plans with current demand, will be best positioned to dominate the market in the years to come. Download e-Pharmacy Thrives as OTC Growth Begins Recovery to find out more.

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