Insights Into The Pharmacies and Drug Stores Market’s Growth Opportunities Through 2023-2032 – Includes Pharmacies and Drug Stores Market Share
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The growing ageing population and increasing health consciousness among the global populace are expected to drive innovation in pharmacies and drug stores manufacturing, thus driving the market during the forecast period.
The global pharmacies and drug stores market is expected to grow from $1,126.63 billion in 2022 to $1,205.81 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%. The global pharmacies and drug stores market size is expected to grow to $1,513.65 billion in 2027 at a CAGR of 5.8%.
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- By Drug Type: Prescription Drugs, OTC drugs
- By Type: Community Pharmacy, Hospital Pharmacy, Clinical Pharmacy, Industrial Pharmacy, Compounding Pharmacy, Consulting Pharmacy, Ambulatory Care Pharmacy, Regulatory Pharmacy, Home Care Pharmacy
- By Product Type: Skin Care, Cold and Flu, Dental, Weight Loss, Vitamins, Other Product Types
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global pharmacies and drug stores market in 2021.
Major Market Players in the pharmacies and drug stores market include Walgreens Boots (WBA), CVS Health (CVS), Rite Aid (RAD), MedPlus, Rexall, Shoppers Drug Mart, Grupo Casa Saba, China Nepstar.
Working long hours and drive-through locations are the major factors contributing to increasing the pharmacy and drugstore market growth. As competition has increased from mass merchandisers and supermarkets, as well as from direct mail prescription services, drug stores have been adding value in the form of 24-hour operations and drive-through pharmacies. The US Pharmacy Study measures customer satisfaction with their pharmacy experience across major chain drug stores, mass merchandisers, supermarkets, and mail-order pharmacies. The study shows that retail pharmacy businesses continue to shine when it comes to engaging patient-centric services that drive satisfaction. These convenience factors anticipate the growth of pharmacies and the drugstore market.
The Pharmacies and Drug Stores Global Market Report 2023 provides a pharmacies and drug stores market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The pharmacies and drug stores market forecast analyzes pharmacies and drug stores market size, pharmacies and drug stores market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
A pharmacy is where one can get prescription medications. It may be located inside a grocery shop, drugstore, chemist, or other establishment. Drug store refers to a location whose major activity is the selling of pharmaceuticals, medicines, and pharmaceutical preparations. Drug stores have a regular prescription department and hire a registered pharmacist on-site at all times.
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