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Global Pharmacy Retail Market – Industry Trends and Forecast to 2030

Pharmaceutical

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Global Pharmacy Retail Market – Industry Trends and Forecast to 2030

  • Pharmaceutical
  • Upcoming Report
  • Jul 2023
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Pharmacy Retail Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 622.32 USD Billion
Diagram Market Size (Forecast Year) USD 1,343.72 USD Billion
Diagram CAGR %

Major Markets Players

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Global Pharmacy Retail Market, By Type (online and offline), Drug Type (Generic, Over the counter (OTC), and Patented), End-Users (Equipment Retail, Drug Retail, Health Products Retail, Chemical Medicine Retail, Medicinal Materials Retail, Proprietary Chinese Medicine Retail, and Others) - Industry Trends and Forecast to 2030.

Pharmacy Retail Market

Pharmacy Retail Market Analysis and Size

The retail pharmacy is the independent avenue providing branded and generic medicines to the public with or without a prescription. The increase in the pharmacy's retail chains has helped integrate many healthcare components that will increase the purchasing convenience of drugs and other products to the customer.

The rise in the prevalence of chronic diseases globally, growing healthcare expenditure, changing disease profiles, innovative marketing strategies, upsurge in the development of hospital-based pharmacies and wellness stores, growing government funding, and rising geriatric population are the factors that will expand the pharmacy retail market. The growth in the annual income of the population and increasing demand for e-commerce sites will provide beneficial opportunities for the pharmacy retail market in the forecast period of 2023-2030.

Data Bridge Market Research analyses that the global pharmacy retail market, valued at USD 622.32 billion in 2022, will reach USD 1,343.72 billion by 2030, growing at a CAGR of 10.10% during the forecast period of 2023 to 2030. However, the high cost of drugs, risk of expiry, and side effects of OTC drugs are the factors that will hinder the market growth and will further challenge the pharmacy retail market in the forecast period mentioned above. Due to the increasing burden of chronic diseases and the growing aging population, the pharmacy retail market is driving the demand for prescription medications.

 The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Pharmacy Retail Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

By Type (online and offline), Drug Type (Generic, Over the counter (OTC), and Patented), End-Users (Equipment Retail, Drug Retail, Health Products Retail, Chemical Medicine Retail, Medicinal Materials Retail, Proprietary Chinese Medicine Retail, and Others)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Peru, rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, rest of Asia-Pacific, Saudi Arabia, U.A.E, Egypt, Israel, Kuwait, South Africa, rest of Middle East and Africa

Market Players Covered

CVS Health (U.S.), Walgreens Boots Alliance, Inc. (U.S.), Albertsons Companies (U.S.), Dirk Rossmann GmbH (Germany), Rite Aid Corp. (U.S.), The Jean Coutu Group (PJC) Inc. (Canada), Loblaws Inc. (Canada), and Ahold Delhaize (Netherlands) among other

Market Opportunities

  • Increasing demand for e-commerce sites will provide beneficial opportunities for the pharmacy retail market in the forecast period
  • The increasing prevalence of such diseases and the development of specialized drugs offer a lucrative opportunity for pharmacy retail stores to cater to the growing demand for specialty medications
  • The pharmacy retail market holds immense potential for expansion in emerging markets, driven by factors such as improving healthcare infrastructure, increasing disposable income, and growing awareness about health and wellness

Market Definition

The global pharmacy retail market comprises retail establishments selling prescription and over-the-counter medications, health and wellness products, and related services. These physical and online retail stores provide convenient outlets for consumers to access a comprehensive range of pharmaceutical products while offering additional services such as consultation, medication management, and health screening. The market operates within a competitive landscape, with numerous local and international players vying for market share, and is influenced by factors such as increasing healthcare expenditure, growing demand for personalized medicine, and the expansion of the over-the-counter market.

Pharmacy Retail Market Dynamics

Drivers

  • Growing Healthcare Expenditure

The rising healthcare expenditure globally, driven by factors such as aging populations, increasing prevalence of chronic diseases, and advancements in medical technology, is a significant driver for the pharmacy retail market. As healthcare spending increases, the demand for prescription medications and related products also rises, positively impacting the growth of pharmacy retail.

  • Increasing Demand for Personalized Medicine

The growing focus on personalized medicine, which involves tailoring medical treatment to individual patients based on their unique genetic makeup, is fueling the demand for specialized pharmaceutical products. Pharmacy retail stores play a crucial role in providing these personalized medications, driving the market growth.

  • Expanding OTC (Over-the-Counter) Market

The expanding market for over-the-counter medications, driven by increased self-medication practices and a shift towards preventive healthcare, is a significant driver for the pharmacy retail market. Pharmacies provide convenient outlets for consumers to access a wide range of OTC products, driving the market's growth.

Opportunities

  • E-commerce and Online Pharmacies

The increasing adoption of e-commerce and the growing trend of online pharmacies present significant opportunities for the pharmacy retail market. Consumers are increasingly seeking the convenience of purchasing medications and health products online, which opens up new avenues for growth and expansion.

  • Rising Technological Advancements

Rapid technological advancements, such as electronic health records, automated dispensing systems, and telepharmacy services, offer opportunities for streamlining pharmacy operations and enhancing patient care. Embracing these technological innovations can improve efficiency, customer experience, and overall market growth.

Restraints/Challenges

  • Stringent Regulatory Environment

The pharmacy retail market operates within a complex regulatory environment, with stringent regulations and compliance requirements imposed by health authorities and licensing bodies. Adhering to these regulations can pose challenges for market players, including additional costs, time-consuming processes, and potential legal and reputational risks.

  • Intense Competition

The pharmacy retail market is highly competitive, characterized by the presence of numerous local and international players. Competing with established pharmacy chains, online retailers, and other healthcare providers can challenge market entrants or smaller players. Differentiating themselves, maintaining customer loyalty, and ensuring competitive pricing are critical challenges in this competitive landscape.

This pharmacy retail market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the pharmacy retail market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

  • In June 2021, Medly Pharmacy, a digital pharmacy, announced its plans to acquire Pharmaca, a pharmacy chain, to expand its presence in thirty different markets
  • In May 2021, PharmEasy, an online pharmacy, acquired Medlife, an ePharmacy, to gain a higher market share and expand its presence in the industry. With this acquisition, PharmEasy holds 60% to 70% of the ePharmacy market in India.

Global Pharmacy Retail Market Scope

The global pharmacy retail market is segmented on the basis of type, drug type, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • Online
  • Offline

Drug Type

  • Generic
  • Over the counter (OTC)
  • Patented

End User

  • Equipment retail
  • Drug retail
  • Health products retail
  • Chemical medicine retail
  • Medicinal materials retail
  • Proprietary chinese medicine retail
  • Others

Pharmacy Retail Market Regional Analysis/Insights

The pharmacy retail market is analysed and market size insights and trends are provided by country, type, drug type, and end user as referenced above.

The countries covered in the pharmacy retail market report are the U.S., Canada, Mexico, Brazil, Argentina, Peru, rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, rest of Asia-Pacific, Saudi Arabia, U.A.E, Egypt, Israel, Kuwait, South Africa, rest of Middle East and Africa.

North America dominates the market due to the presence of major key players, increasing cognizance about the various respiratory diseases such as asthma and chronic obstructive pulmonary disease, a paradigm shift of consumers towards organized players that will offer high-quality drugs, high healthcare expenditure, and well-developed healthcare sector in this region.

Asia-Pacific is expected to grow during the forecast period of 2023-2030 due to the increasing research and development activities, rising investment in the healthcare sector, and growing government support.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure Growth Installed Base and New Technology Penetration

The pharmacy retail market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Pharmacy Retail Market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the Pharmacy Retail Market. The data is available for historic period 2015-2021.

Competitive Landscape and Pharmacy Retail Market Share Analysis

The pharmacy retail market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Pharmacy Retail market.

Some of the major players operating in the Pharmacy Retail market are:

  • CVS Health (U.S.)
  • Walgreens Boots Alliance, Inc. (U.S.)
  • Albertsons Companies (U.S.)
  • Dirk Rossmann GmbH (Germany)
  • Rite Aid Corp. (U.S.)
  • The Jean Coutu Group (PJC) Inc. (Canada)
  • Loblaws Inc. (Canada)
  • Ahold Delhaize (Netherlands)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

The Pharmacy Retail Market size will be worth USD 1,343.72 billion by 2030.
The Pharmacy Retail Market Growth Rate is 10.10% during the forecast period
The Expanding OTC (Over-the-Counter) Market, Increasing Demand for Personalized Medicine, and Growing Healthcare Expenditure are the Growth Drivers of the Pharmacy Retail Market.
The type, drug type, and end-user are the factors on which the Pharmacy Retail Market research is based.
The major companies in the Pharmacy Retail Market are CVS Health (U.S.), Walgreens Boots Alliance, Inc. (U.S.), Albertsons Companies (U.S.), Dirk Rossmann GmbH (Germany), Rite Aid Corp. (U.S.), The Jean Coutu Group (PJC) Inc. (Canada), Loblaws Inc. (Canada), and Ahold Delhaize (Netherlands).
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