Increasing e-Commerce Base and Communication Technology Advancements Portend Well for Global e-Pharmacy Market

Technological diffusion and adoption have been rapidly improving patient outcomes over the past decade. e-Pharmacy is completely transforming the way medicines have been delivered, offering an efficient alternative to the traditional distribution channel that involves physical pharmacy stores. The global e-pharmacy market is expected to flourish during the forecast period 2022 - 2026 as it promotes optimal distribution strategy of medicinal products in terms of time, and cost. The growing reach of e-commerce in developed, and developing economies has enabled e-pharmacy companies to tap a wider user base. Younger population is mainly reliant on e-commerce portals for personal care, and consumer health goods. e-Pharmacy is more likely to experience higher adoption across healthcare systems, thereby boosting the global e-pharmacy market in the near future.

Moreover, heightening demand for telehealth, and e-prescription technology are translating into wider adoption of e-pharmacy worldwide. e-Pharmacy is a technological advancement that is generating huge demand for access models that assist consumers, and patients with the convenience of consumer health, and medicinal product delivery to their doorstep. It also creates awareness among buyers regarding the appropriate medicinal regimen.

Challenges Thrown by COVID-19 Pandemic Underscore Significance of e-Pharmacy

The COVID-19 outbreak and all the challenges that it has brought in to the world have imposed sharp changes in consumer perceptions. As a result, e-pharmacies that were earlier facing much reluctance are now increasingly being viewed as a safe, and sustainable alternative to conventional brick and mortar pharmacies. The strong performance of online pharmacies in countries where pandemic has hit hard is unprecedented, especially in economies like India. Although medical stores are categorised under essential services, e-pharmacies emerged as one of the leading beneficiaries of the pandemic-induced lockdown in India. As per The Federation of Indian Chambers of Commerce & Industry (FICCI) report on e-pharmacies in India, the COVID-19 pandemic has given major push to online pharmacies to thrive – getting patients from across 22,000+ pin codes the access to medicines during lockdown via their strong supply chain. The channel had ~3 million users before the pandemic; more than 6 million new consumers have been on boarded since then.

Industry Trends Leading the Future

Deepening penetration of cloud technology in the medical world, and expanse of telemedicine will have a direct impact on the industry dynamics. Next-gen technologies like virtual reality (VR), Artificial Intelligence (AI), and machine learning (ML) will further transform wellness experiences. The most important factors are the people’s awareness, knowledge, and self-management skills. The advent of the Internet of Things (IoT) and other next-generation technologies has worked to the advantage of the healthcare industry, delivering an array of healthcare solutions. The global e-pharmacy market is observing a progressive growth trail on the back of this. Digital proliferation, smartphone penetration, connected/smart devices, smart sensors, and machine learning are the salient aspects that lunge smart logistics.

Online-offline pharmacy collaboration is a long-term growth lever for e-pharmacy market. As online business is only a platform to book orders, ultimately licensed premises of their own, or in collaboration with existing brick and mortar shops can distribute medicines. Using technology and access to inventory of multiple stores simultaneously, e-pharmacies can aggregate supplies of essential medicines and make them available to consumers across geographies.

Growing Digitalisation to Accelerate e-Pharmacy Expansion in Asia Pacific

Developed countries from North America, and Europe are at the forefront of e-pharmacy market as they have a clear advantage of a sizeable, and relatively aware customer base with technology access. Moreover, the US, Canada, and most of the European Union (EU) countries allow online sales of at least some non-Rx products. However, e-Pharmacy has immense incremental opportunity in LMICs working upon last mile delivery access. This will significantly help the remote population where there is limited presence of retail pharmacy. Moreover, digital payments, and growing presence of online pharmacies may bring in more transparency in the pharmacy market, thereby making medicines more affordable.

Governments of Asian countries are providing a strong breeding ground for e-pharmacies to flourish; Indian government has especially taken initiatives like Jan Aushadhi Programme, and Common Services Center (CSC) to enable digital support to rural areas. In fast-developing economies like India, a significant market shift might take time as offline channel is well-established, and effectively regulated. However, experts suggest market penetration to reach to ~25-30% by 2025, up from the current 5-6%.

Legal and Logistical Challenges Likely to Hamper Pace of e-Pharmacy Market Growth

Many parts of the world still lack any specific regulations governing e-pharmacies. For instance, all online pharmacies in India are operating as per the Information Technology Act, 2000 (IT Act); Pharmacy Act, 1948; Drugs and Cosmetics Rule, 1945 (D&C Rule), and the Drugs and Cosmetics Act, 1940 (D&C Act). Consumers are also reluctant to buy drugs online even in many developed countries as medicines should only be taken under medical supervision. The middle-and-low-income countries are struggling with logistical challenges. In India, the absence of barcoding system at manufacturers’ level is creating a chaos in the supply chain, and lack of bulk packaging system leaves lesser scope for automation. Another serious challenge is the lack of cold chain infrastructure, making it extremely costly to serve rural areas.

Entry of Deep Pocket Players and M&A Highlight Competition in Global e-Pharmacy Market

In May 2021, an Indian online pharmacy startup, PharmEasy announced its merger with a competitor Medlifea amid an increased activity in the online pharmacy space. The flourishing e-pharmacy landscape is attracting e-commerce biggies such as Reliance, Amazon, and Flipkart since last year. Earlier in 2020, Reliance Retail bought a majority stake in online pharmacy NetMeds. During the same time, online Amazon pharmacy was launched in India. In September, 2020, Flipkart collaborated with online pharmacy brand 1mg, integrating the latter’s platform into its Android app.

Amazon Pharmacy, DocMorris, CVS Health Corporation, Express Script Holding Company, Walgreen Company, Optum Rx Inc., Giant Eagle Inc., Walmart Stores Inc., Rowland Pharmacy, The Kroger Company, PhramEasy, NetMeds, and 1mg are some of the most prominent players actively participating in the global e-pharmacy market landscape.

Regional Classification of the Global e-Pharmacy Market is Listed Below:

North America

U.S.
Canada

Europe

Germany
France
Spain
U.K.
Italy
Russia
Rest of Europe

Asia Pacific

China
Japan
India
Southeast Asia
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East and Africa

GCC
South Africa
Rest of Middle East & Africa

*Regions and countries are subject to change based on data availability.

Key Elements Included In The Study: Global e-Pharmacy Market

e-Pharmacy Market by Product/Technology/Grade, Application/End-user, and Region
Executive Summary (Opportunity Analysis and Key Trends)
Historical Market Size and Estimates, Value, 2018 - 2022
Market Value at Regional and Country Level, 2023 - 2030
Market Dynamics and Economic Overview
Market Size in Value, Growth Rates, and Forecast Figures, 2023 - 2030
Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies
Regional and Product/Grade/Application/End-user Price Trends Analysis
Value Chain and Five Force’s Analysis
Regional/Sub-region/Country Market Size and Trend Analysis
Company Market Share Analysis and Key Player Profiles

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1. Executive Summary
1.1. Global E-Pharmacy Market Outlook, 2018 - 2030 (US$ Million)
1.2. Global E-Pharmacy Market Incremental Opportunity, 2018 - 2030 (US$ Million)
1.3. Key Industry Trends

2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.1.1. Driver 1
2.2.1.2. Driver 2
  2.2.2. Restraints
2.2.2.1. Restraint 1
2.2.2.2. Restraint 2
  2.2.3. Opportunities
2.2.3.1. Opportunity 1
2.2.3.2. Opportunity 2
2.3. Legal and Regulatory Framework
2.4. Government Initiatives and Investments
2.5. Technological Advancements
2.6. PESTLE Analysis
2.7. Value Chain Analysis
2.8. COVID-19 Impact Analysis

3. Global E-Pharmacy Market Outlook, 2018 - 2030
3.1. Global E-Pharmacy Market Outlook, by Product & Services, 2018 - 2030
  3.1.1. Key Highlights
  3.1.2. Global E-Pharmacy Market Outlook, by Product & Services, Value (US$ Million), 2018 - 2030
3.1.2.1. Over-the-counter Drugs
3.1.2.2. Prescription Medicines
3.1.2.3. Beauty and Wellness Products
3.1.2.4. Diagnostic Tests
3.1.2.5. Telemedicine Services
3.1.2.6. Others
  3.1.3. Global E-Pharmacy Market Share and BPS Analysis, by Product & Services, 2023 and 2030
  3.1.4. Global E-Pharmacy Market Attractiveness Analysis, by Product & Services, 2023 - 2030
3.2. Global E-Pharmacy Market Outlook, By Platform, 2018 - 2030
  3.2.1. Key Highlights
  3.2.2. Global E-Pharmacy Market Outlook, By Platform, Value (US$ Million), 2018 - 2030
3.2.2.1. App based
3.2.2.2. Website based
  3.2.3. Global E-Pharmacy Market Share and BPS Analysis, By Platform, 2023 and 2030
  3.2.4. Global E-Pharmacy Market Attractiveness Analysis, By Platform, 2023 - 2030
3.3. Global E-Pharmacy Market Outlook, By Operational Model, 2018 - 2030
  3.3.1. Key Highlights
  3.3.2. Global E-Pharmacy Market Outlook, by Operational Model, Value (US$ Million), 2018 - 2030
3.3.2.1. Inventory based
3.3.2.2. Marketplace based
3.3.2.3. Hybrid Model
  3.3.3. Global E-Pharmacy Market Share and BPS Analysis, by Operational Model, 2023 and 2030
  3.3.4. Global E-Pharmacy Market Attractiveness Analysis, by Operational Model, 2023 - 2030
3.4. Global E-Pharmacy Market Outlook, By Business Model, 2018 - 2030
  3.4.1. Key Highlights
  3.4.2. Global E-Pharmacy Market Outlook, by Business Model, Value (US$ Million), 2018 - 2030
3.4.2.1. Business-to-Business (B2B)
3.4.2.2. Business-to-Consumer (B2C)
  3.4.3. Global E-Pharmacy Market Share and BPS Analysis, by Business Model, 2023 and 2030
  3.4.4. Global E-Pharmacy Market Attractiveness Analysis, by Business Model, 2023 - 2030
3.5. Global E-Pharmacy Market Outlook, By Region, 2018 - 2030
  3.5.1. Key Highlights
  3.5.2. Global E-Pharmacy Market Outlook, by Region, Value (US$ Million), 2018 - 2030
3.5.2.1. North America
3.5.2.2. Europe
3.5.2.3. Asia Pacific
3.5.2.4. Latin America
3.5.2.5. Middle East & Africa
  3.5.3. Global E-Pharmacy Market Share and BPS Analysis, by Region, 2023 and 2030
  3.5.4. Global E-Pharmacy Market Attractiveness Analysis, by Region, 2023 - 2030

4. North America E-Pharmacy Market Outlook, 2018 - 2030
4.1. North America E-Pharmacy Market Outlook, by Product & Services, 2018 - 2030
  4.1.1. Key Highlights
  4.1.2. North America E-Pharmacy Market Outlook, by Product & Services, Value (US$ Million), 2018 - 2030
4.1.2.1. Over-the-counter Drugs
4.1.2.2. Prescription Medicines
4.1.2.3. Beauty & Wellness Products
4.1.2.4. Diagnostic Tests
4.1.2.5. Telemedicine Services
4.1.2.6. Others
  4.1.3. North America E-Pharmacy Market Share and BPS Analysis, by Product & Services, 2023 and 2030
4.2. North America E-Pharmacy Market Outlook, By Platform, 2018 - 2030
  4.2.1. Key Highlights
  4.2.2. North America E-Pharmacy Market Outlook, By Platform, Value (US$ Million), 2018 - 2030
4.2.2.1. App based
4.2.2.2. Website based
  4.2.3. North America E-Pharmacy Market Share and BPS Analysis, By Platform, 2023 and 2030
4.3. North America E-Pharmacy Market Outlook, By Operational Model, 2018 - 2030
  4.3.1. Key Highlights
  4.3.2. North America E-Pharmacy Market Outlook, by Operational Model, Value (US$ Million), 2018 - 2030
4.3.2.1. Inventory based
4.3.2.2. Marketplace based
4.3.2.3. Hybrid Model
  4.3.3. North America E-Pharmacy Market Share and BPS Analysis, by Operational Model, 2023 and 2030
4.4. North America E-Pharmacy Market Outlook, By Business Model, 2018 - 2030
  4.4.1. Key Highlights
  4.4.2. North America E-Pharmacy Market Outlook, by Business Model, Value (US$ Million), 2018 - 2030
4.4.2.1. Business-to-Business (B2B)
4.4.2.2. Business-to-Consumer (B2C)
  4.4.3. North America E-Pharmacy Market Share and BPS Analysis, by Business Model, 2023 and 2030
4.5. North America E-Pharmacy Market Outlook, By Country, 2018 - 2030
  4.5.1. Key Highlights
  4.5.2. North America Market Outlook, by Country, Value (US$ Million), 2018 - 2030
4.5.2.1. U.S.
4.5.2.2. Canada
  4.5.3. North America E-Pharmacy Market Share and BPS Analysis, by Country, 2023 and 2030

5. Europe E-Pharmacy Market Outlook, 2018 - 2030
5.1. Europe E-Pharmacy Market Outlook, by Product & Services, 2018 - 2030
  5.1.1. Key Highlights
  5.1.2. Europe E-Pharmacy Market Outlook, by Product & Services, Value (US$ Million), 2018 - 2030
5.1.2.1. Over-the-counter Drugs
5.1.2.2. Prescription Medicines
5.1.2.3. Beauty & Wellness Products
5.1.2.4. Diagnostic Tests
5.1.2.5. Telemedicine Services
5.1.2.6. Others
  5.1.3. Europe E-Pharmacy Market Share and BPS Analysis, by Product & Services, 2023 and 2030
5.2. Europe E-Pharmacy Market Outlook, By Platform, 2018 - 2030
  5.2.1. Key Highlights
  5.2.2. Europe E-Pharmacy Market Outlook, By Platform, Value (US$ Million), 2018 - 2030
5.2.2.1. App based
5.2.2.2. Website based
  5.3.3. Europe E-Pharmacy Market Share and BPS Analysis, By Platform, 2023 and 2030
5.3. Europe E-Pharmacy Market Outlook, By Operational Model, 2018 - 2030
  5.3.1. Key Highlights
  5.3.2. Europe E-Pharmacy Market Outlook, by Operational Model, Value (US$ Million), 2018 - 2030
5.3.2.1. Inventory based
5.3.2.2. Marketplace based
5.3.2.3. Hybrid Model
  5.3.3. Europe E-Pharmacy Market Share and BPS Analysis, by Operational Model, 2023 and 2030
5.4. Europe E-Pharmacy Market Outlook, By Business Model, 2018 - 2030
  5.4.1. Key Highlights
  5.4.2. Europe E-Pharmacy Market Outlook, by Business Model, Value (US$ Million), 2018 - 2030
5.4.2.1. Business-to-Business (B2B)
5.4.2.2. Business-to-Consumer (B2C)
  5.4.3. Europe E-Pharmacy Market Share and BPS Analysis, by Business Model, 2023 and 2030
5.5. Europe E-Pharmacy Market Outlook, By Country, 2018 - 2030
  5.5.1. Key Highlights
  5.5.2. Europe E-Pharmacy Market Outlook, by Country, Value (US$ Million), 2018 - 2030
5.5.2.1. Germany
5.5.2.2. France
5.5.2.3. U.K.
5.5.2.4. Italy
5.5.2.5. Spain
5.5.2.6. Russia
5.5.2.7. Rest of Europe
  5.5.3. Europe E-Pharmacy Market Share and BPS Analysis, by Country, 2023 and 2030

6. Asia Pacific E-Pharmacy Market Outlook, 2018 - 2030
6.1. Asia Pacific E-Pharmacy Market Outlook, by Product & Services, 2018 - 2030
  6.1.1. Key Highlights
  6.1.2. Asia Pacific E-Pharmacy Market Outlook, by Product & Services, Value (US$ Million), 2018 - 2030
6.1.2.1. Over-the-counter Drugs
6.1.2.2. Prescription Medicines
6.1.2.3. Beauty & Wellness Products
6.1.2.4. Diagnostic Tests
6.1.2.5. Telemedicine Services
6.1.2.6. Others
  6.1.3. Asia Pacific E-Pharmacy Market Share and BPS Analysis, by Product & Services, 2023 and 2030
6.2. Asia Pacific E-Pharmacy Market Outlook, By Platform, 2018 - 2030
  6.2.1. Key Highlights
  6.2.2. Asia Pacific E-Pharmacy Market Outlook, By Platform, Value (US$ Million), 2018 - 2030
6.2.2.1. App based
6.2.2.2. Website based
  6.3.3. Asia Pacific E-Pharmacy Market Share and BPS Analysis, By Platform, 2023 and 2030
6.3. Asia Pacific E-Pharmacy Market Outlook, By Operational Model, 2018 - 2030
  6.3.1. Key Highlights
  6.3.2. Asia Pacific E-Pharmacy Market Outlook, by Operational Model, Value (US$ Million), 2018 - 2030
6.3.2.1. Inventory based
6.3.2.2. Marketplace based
6.3.2.3. Hybrid Model
  6.3.3. Asia Pacific E-Pharmacy Market Share and BPS Analysis, by Operational Model, 2023 and 2030
6.4. Asia Pacific E-Pharmacy Market Outlook, By Business Model, 2018 - 2030
  6.4.1. Key Highlights
  6.4.2. Asia Pacific E-Pharmacy Market Outlook, by Business Model, Value (US$ Million), 2018 - 2030
6.4.2.1. Business-to-Business (B2B)
6.4.2.2. Business-to-Consumer (B2C)
  6.4.3. Asia Pacific E-Pharmacy Market Share and BPS Analysis, by Business Model, 2023 and 2030
6.5. Asia Pacific E-Pharmacy Market Outlook, By Country, 2018 - 2030
  6.5.1. Key Highlights
  6.5.2. Asia Pacific E-Pharmacy Market Outlook, by Country, Value (US$ Million), 2018 - 2030
6.5.2.1. Japan
6.5.2.2. China
6.5.2.3. India
6.5.2.4. Australia & New Zealand
6.5.2.5. South Korea
6.5.2.6. Rest of Asia Pacific
  6.5.3. Asia Pacific E-Pharmacy Market Share and BPS Analysis, by Country, 2023 and 2030

7. Latin America E-Pharmacy Market Outlook, 2018 - 2030
7.1. Latin America E-Pharmacy Market Outlook, by Product & Services, 2018 - 2030
  7.1.1. Key Highlights
  7.1.2. Latin America E-Pharmacy Market Outlook, by Product & Services, Value (US$ Million), 2018 - 2030
7.1.2.1. Over-the-counter Drugs
7.1.2.2. Prescription Medicines
7.1.2.3. Beauty & Wellness Products
7.1.2.4. Diagnostic Tests
7.1.2.5. Telemedicine Services
7.1.2.6. Others
  7.1.3. Latin America E-Pharmacy Market Share and BPS Analysis, by Product & Services, 2023 and 2030
7.2. Latin America E-Pharmacy Market Outlook, By Platform, 2018 - 2030
  7.2.1. Key Highlights
  7.2.2. Latin America E-Pharmacy Market Outlook, By Platform, Value (US$ Million), 2018 - 2030
7.2.2.1. App based
7.2.2.2. Website based
  7.2.3. Latin America E-Pharmacy Market Share and BPS Analysis, By Platform, 2023 and 2030
7.3. Latin America E-Pharmacy Market Outlook, By Operational Model, 2018 - 2030
  7.3.1. Key Highlights
  7.3.2. Latin America E-Pharmacy Market Outlook, by Operational Model, Value (US$ Million), 2018 - 2030
7.3.2.1. Inventory based
7.3.2.2. Marketplace based
7.3.2.3. Hybrid Model
  7.3.3. Latin America E-Pharmacy Market Share and BPS Analysis, by Operational Model, 2023 and 2030
7.4. Latin America E-Pharmacy Market Outlook, By Business Model, 2018 - 2030
  7.4.1. Key Highlights
  7.4.2. Latin America E-Pharmacy Market Outlook, by Business Model, Value (US$ Million), 2018 - 2030
7.4.2.1. Business-to-Business (B2B)
7.4.2.2. Business-to-Consumer (B2C)
  7.4.3. Latin America E-Pharmacy Market Share and BPS Analysis, by Business Model, 2023 and 2030
7.5. Latin America E-Pharmacy Market Outlook, By Country, 2018 - 2030
  7.5.1. Key Highlights
  7.5.2. Latin America E-Pharmacy Market Outlook, by Country, Value (US$ Million), 2018 - 2030
7.5.2.1. Brazil
7.5.2.2. Mexico
7.5.2.3. Argentina
7.5.2.4. Rest of Latin America
  7.5.3. Latin America E-Pharmacy Market Share and BPS Analysis, by Country, 2023 and 2030

8. Middle East & Africa E-Pharmacy Market Outlook, 2018 - 2030
8.1. Middle East & Africa E-Pharmacy Market Outlook, Type, 2018 - 2030
  8.1.1. Key Highlights
  8.1.2. Middle East & Africa E-Pharmacy Market Outlook, by Product & Services, Value (US$ Million), 2018 - 2030
8.1.2.1. Over-the-counter Drugs
8.1.2.2. Prescription Medicines
8.1.2.3. Beauty & Wellness Products
8.1.2.4. Diagnostic Tests
8.1.2.5. Telemedicine Services
8.1.2.6. Others
  8.1.3. Middle East & Africa E-Pharmacy Market Share and BPS Analysis, by Product & Services, 2023 and 2030
8.2. Middle East & Africa E-Pharmacy Market Outlook, By Platform, 2018 - 2030
  8.2.1. Key Highlights
  8.2.2. Middle East & Africa E-Pharmacy Market Outlook, By Platform, Value (US$ Million), 2018 - 2030
8.2.2.1. App based
8.2.2.2. Website based
  8.2.3. Middle East & Africa E-Pharmacy Market Share and BPS Analysis, By Platform, 2023 and 2030
8.3. Middle East & Africa E-Pharmacy Market Outlook, By Operational Model, 2018 - 2030
  8.3.1. Key Highlights
  8.3.2. Middle East & Africa E-Pharmacy Market Outlook, by Operational Model, Value (US$ Million), 2018 - 2030
8.3.2.1. Inventory based
8.3.2.2. Marketplace based
8.3.2.3. Hybrid Model
  8.3.3. Middle East & Africa E-Pharmacy Market Share and BPS Analysis, by Operational Model, 2023 and 2030
8.4. Middle East & Africa E-Pharmacy Market Outlook, By Business Model, 2018 - 2030
  8.4.1. Key Highlights
  8.4.2. Middle East & Africa E-Pharmacy Market Outlook, by Business Model, Value (US$ Million), 2018 - 2030
8.4.2.1. Business-to-Business (B2B)
8.4.2.2. Business-to-Consumer (B2C)
  8.4.3. Middle East & Africa E-Pharmacy Market Share and BPS Analysis, by Business Model, 2023 and 2030
8.5. Middle East & Africa E-Pharmacy Market Outlook, By Country, 2018 - 2030
  8.5.1. Key Highlights
  8.5.2. Middle East & Africa E-Pharmacy Market Outlook, by Country, Value (US$ Million), 2018 - 2030
8.5.2.1. Saudi Arabia
8.5.2.2. UAE
8.5.2.3. Israel
8.5.2.4. South Africa
8.5.2.5. Rest of Middle East & Africa
  8.5.3. Middle East & Africa E-Pharmacy Market Share and BPS Analysis, by Country, 2023 and 2030

9. Competitive Landscape
9.1. Market Share Analysis
9.2. Company Profiles
  9.2.1. 1mg Technologies
9.2.1.1. Company overview
9.2.1.2. Financial performance
9.2.1.3. Product Pipeline
9.2.1.4. Recent Developments
*Above details will include, but not be limited to below list of companies based on availability
  9.2.2. CVS Health Corporation
  9.2.3. Express Scripts Holding Company
  9.2.4. Farmacia Internacional
  9.2.5. Giant Eagle
  9.2.6. Lloyds Pharmacy
  9.2.7. Medlife
  9.2.8. Netmeds
  9.2.9. Optus RX, Inc.
  9.2.10. Rowland Pharmacy
  9.2.11. The Canadian Pharmacy
  9.2.12. The Pill Club
  9.2.13. UK Meds
  9.2.14. Walmart Stores

10. Appendix
10.1. Research Methodology
10.2. Report Specific Research Approach
10.3. Acronyms and Abbreviations

e-Pharmacy Market

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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