The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The pharmacies and drug stores market has demonstrated robust growth, rising from $1224.73 billion in 2023 to $1304.99 billion in 2024, showcasing a compound annual growth rate (CAGR) of 6.6%. The growth in the historical period is attributed to factors such as an aging population with increasing healthcare needs, expansion of health insurance coverage, heightened awareness of preventive healthcare, the prevalence of chronic diseases, and the convenience offered by retail pharmacies. Anticipating strong growth ahead, the market is projected to reach $1662.63 billion in 2028, with a CAGR of 6.2%. The forecasted growth is linked to factors like the rise of telehealth and remote consultations, expansion of health and wellness services, consumer focus on self-care, integration of pharmacies into healthcare networks, and changes in healthcare behavior induced by the pandemic. Noteworthy trends in the forecast period include a heightened focus on preventive care, resilience in the supply chain, attention to health data security, collaboration and partnerships within the industry, and a surge in sustainability initiatives.

The expanding aging population and growing health consciousness among the global populace are set to drive the pharmacy and drugstore market. The geriatric population, prone to various diseases, increasingly relies on pharmacies and drugstores, indirectly influencing the market. According to the Global Health and Aging report, the number of individuals aged 65 or older is expected to reach nearly 1.5 billion by 2050, with significant growth in developing countries. Health conditions such as cancer, dementia, obesity, and diabetes pose challenges to healthcare systems with the aging population’s rise. The increasing prevalence of these conditions is expected to expand the customer base for pharmacies and drugstores, driving market growth. It is crucial to consider market sizes for 2023, 2024, and 2028 to anticipate market trends accurately.

Get A Free Sample On The Pharmacies and Drug Stores Market Report:

https://www.thebusinessresearchcompany.com/sample.aspx?id=3045&type=smp

What Are The Key Trends That Influence Pharmacies and Drug Stores Market Share Analysis?

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.

Which Market Players Are Driving Growth In The Pharmacies and Drug Stores Market?

Major companies operating in the pharmacies and drug stores market report are CVS Health Corporation, McKesson Corporation, AmerisourceBergen Corporation, Cardinal Health Inc., Walgreens Boots Alliance Inc., Alliance Boots GmbH & Co. KG, Rite Aid Corporation, AS Watson Group, Shoppers Drug Mart Corporation, Matsumotokiyoshi Holdings Co. Ltd., Phoenix Group Holdings Limited, MedPlus Health Services Inc., Diplomat Pharmacy Inc., Rexall Sundown Inc., PharMerica Corporation, Kinney Drugs Inc., Bartell Drugs Inc., China Nepstar Holding Company Limited, Progressive Care Inc., Lewis Drug Stores Inc., Grupo Casa Saba Sab De Cv, Omnicare Inc., Dougherty’s Pharmacy Inc., Medzone Incorporated, Medicap Pharma, Apollo Pharmacy Limited, Discount Drug Stores Inc., Good Neighbor Pharmacy, Fred’s Pharmacy Inc., Navarro Discount Pharmacies LLC, Discount Drug Mart Inc., Kerr Drug Inc.

How Is The Global Pharmacies and Drug Stores Market Segmented?

The pharmacies and drug stores market covered in this report is segmented –

1) By Drug Type: Prescription Drugs, OTC drugs
2) By Type: Community Pharmacy, Hospital Pharmacy, Clinical Pharmacy, Industrial Pharmacy, Compounding Pharmacy, Consulting Pharmacy, Ambulatory Care Pharmacy, Regulatory Pharmacy, Home Care Pharmacy
3) By Product Type: Skin Care, Cold and Flu, Dental, Weight Loss, Vitamins, Other Product Types

Read The Full Pharmacies and Drug Stores Market Report Here

https://www.thebusinessresearchcompany.com/report/pharmacies-and-drug-stores-global-market-report

The Pharmacies and Drug Stores Global Market Report 2024 provides an overview of the pharmacies and drug storesmarket 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 and their market positions.

The Table Of Content For The Pharmacies and Drug Stores Market Include

1. Pharmacies and Drug Stores Market Executive Summary
2. Pharmacies and Drug Stores Market Segments
3. Pharmacies and Drug Stores Market Size And Template Market Growth Rate
4.  Key Pharmacies and Drug Stores Market Trends
5. Major Pharmacies and Drug Stores Market Drivers
……
25. Key Mergers And Acquisitions In The Pharmacies and Drug Stores Market
26. Top Pharmacies and Drug Stores Companies
27. Pharmacies and Drug Stores Market Opportunities And Strategies
28. Pharmacies and Drug Stores Market, Conclusions And Recommendations
29. Appendix

Learn More About The Business Research Company

The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at info@tbrc.info

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model