Global Retail Pharmacy Market Analysis

$3,500.00$7,500.00

  • Type: Service area
  • Published : January 2022
  • Region: Worldwide
  • Country: Other
  • Report ID : 5024

  • Format: PPT, PDF

Global Retail Pharmacy Market: Segmented by Drug, Type, Product- Growth, Market Size, Future Prospects & Competitive Analysis, 2020 – 2028

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Report Description of the Global Retail Pharmacy Market

Research Scope and Assumption

  • The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
  • The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
  • We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
  • All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
  • Inflation has not been accounted for in order to estimate and forecast the market
  • Numbers may not add up due to rounding off

Reason to buy the report:

  • Facilitate decision-making based on strong current and forecast data for Global Retail Pharmacy market
  • Develop strategies based on the latest regulatory framework
  • Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
  • Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Global Retail Pharmacy market
  • Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • We have technically sound team which do a deep dive research and also provide strategy based consulting analysis

Global Retail Pharmacy Market Executive Summary

The Pharmacies and dru4g stores market consist of establishments involved in sales of prescription and over-the-counter medications, health and beauty items, toiletries and consumable goods directly to consumers. Industry companies may also provide basic health and photo processing services. The pharmacies and drug stores consist of establishments that are concerned with branded prescription drugs, generic drugs, non-prescription medicines, and personal health supplies, groceries and food items, vitamins, minerals, and dietary supplements, cosmetics and other.

Market Size and Key Findings

The Global Retail Pharmacy Market size stood at around USD 971.51 billion in 2020 and is projected to reach USD XX billion by 2028, exhibiting a CAGR of 6.9% during the forecast period.

The global pharmacies and drug stores market is expected to grow from $971.51 billion in 2020 to $1038.6 billion in 2021 at a compound annual growth rate (CAGR) of 6.9%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $1299.8 billion in 2025 at a CAGR of 6%.

Market Dynamics

Market Growth Drivers Analysis

The growing aging population and increasing health consciousness among the global populace are likely to drive the pharmacies and drug stores market. The geriatric population is more vulnerable to acquire a number of diseases that increase the dependence on the pharmacies and drug stores indirectly affecting the market.

The growing incidence of chronic diseases like hypertension, diabetes, cardiovascular diseases, and cancer, which requires prolonged medication, is expected to further drive the growth of the pharmacy retail market during the forecast period. With the rise in public healthcare expenditure, pharmaceuticals have become more accessible, thereby fuelling the pharmacy retail market, especially in rural areas and tier-II cities.

Market Restraints

Rapidly increasing cost pressures from regulatory agencies and payers will restrain the pharmacies and drug stores market. Government budgetary pressures are leading to lower pharmacy compensation for most countries with public health care. The consolidation of pharmacy benefit management firms in the U.S. has worked similarly, driving lower costs and margins and shifting prescription volumes to delivery of direct or mail order.

Governments would be the largest health-care payer in virtually every country. This, in turn, creates increased pressure on taxpayers and government spending, with consequent pharmaceutical effects. These factors are expected to have a negative impact on the pharmacies and drug stores market as increasing cost pressures from regulatory agencies and affecting the market’s growth.

COVID-19 impact on “Global Retail Pharmacy Market” 

The COVID-19 pandemic has accelerated the growth in the traditional pharmacy retail outlets as well as the online pharmacy channels. Globally, medical retail outlets were categorized as essential services, but the online pharmacies emerged as the most dynamic channel for procuring drugs and devices because of the fear of the virus.

Driven by the different waves of COVID-19, the online pharmacy sector has witnessed surge in orders for medical devices, personal protective equipment, health supplements and common drugs.

Competitive Landscape

Key Players

Major players in the Pharmacies and Drug Stores market are Walgreens Boots (WBA), CVS Health (CVS), Rite Aid (RAD), MedPlus, Rexall, Shoppers Drug Mart, Grupo Casa Saba, China Nepstar, AS Watson and Matsumotokiyoshi.

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.

Products in Pipeline

The launch of various patented drugs by international pharmaceutical companies resulted in an incremental increase in pharmaceutical sales.

There are several factors supporting the growth of global and North America pharmacy retailing market. Some of the prominent factors among them are the increasing availability of OTC drugs, growing prevalence of chronic diseases, rising health care spending of the consumers, increasing demand for e-commerce sites, growth in the annual income of the population, increasing number of geriatric population and the favourable government regulations.

In Asia Pacific, the market for Pharmacy Retail services is anticipated to grow at the fastest rate from 2021 to 2026. This high growth is owing to growing unmet medical needs.

Notable Recent Deals

On November 28, 2018, CVS Health completed acquisition of Aetna. By combining Aetna’s health care benefits expertise with its retail pharmacies, clinics, and integrated pharmacy capabilities, CVS Health is looking to improve the health care delivery experience for consumers by expanding offerings at Minute Clinics, offering preventative health screenings and delivering other services.

Healthcare Policies and Regulatory Landscape

Today, as part of the growing movement to help customers access and securely share their own health information, several of the Nation’s largest retail pharmacy chains and associations are pledging to support the Blue Button initiative—a public-private partnership between the health care industry and the Federal Government that aims to empower all Americans with access to their own electronic health information. These steps will help patients access their prescription information and further empower millions of Americans to better manage their healthcare.

The concept behind Blue Button is simple: consumers should be able to securely access their own health information and share it with health care providers, caregivers, and others they trust.

An increasingly important part of the Blue Button initiative is making patient information available in secure, simple, standard formats to help spur the development of innovative consumer applications and devices that can help patients better manage their own health care and facilitate the electronic sharing of data with trusted partners, such as medical specialists who might not otherwise have direct access to relevant records.

1. Report Description of the Global Retail Pharmacy Market
1.1 Research Scope and Assumption
1.2 Objective of the study
1.3 Research Methodology
1.4 Reason to buy the report
2. Global Retail Pharmacy Market Executive Summary
2.1 Global Retail Pharmacy Market- Industry Snapshot & key buying criteria, 2020-2028
2.2 Market Size, Growth Prospects and Key findings
3. Market Dynamics of Global Retail Pharmacy Market
3.1.1 The growth of the pharmacy retail market during the forecast period
3.1.2 Fuelling the pharmacy retail market, especially in rural areas and tier-II cities
3.2 Market Restraints Analysis
3.2.1 Increasing cost pressures from regulatory agencies and payers
3.2.2 Government budgetary pressures
3.3 Covid-19 Market Impact Analysis
4. Global Retail Pharmacy Market Segmentation
4.1 By Drug Type:
4.1.1 Prescription Drugs
4.1.2 OTC Drugs
4.2 By Type:
4.2.1 Community Pharmacy
4.2.2 Hospital Pharmacy
4.2.3 Clinical Pharmacy
4.2.4 Industrial Pharmacy
4.2.5 Compounding Pharmacy
4.2.6 Consulting Pharmacy
4.2.7 Ambulatory Care Pharmacy
4.2.8 Regulatory Pharmacy
4.2.9 Home Care Pharmacy
4.3 By Product Type:
4.3.1 Skin Care
4.3.2 Cold and Flu
4.3.3 Dental
4.3.4 Weight Loss
4.3.5 Vitamins
4.3.6 Others
5. Global Retail Pharmacy Market Share
5.1 Market Analysis, Insights and Forecast – By Revenue
6. Competitive Landscape
6.1 Major Top Market Players
6.2 Products in Pipeline
6.3 R&D Initiatives in Apheresis Market
6.4 Notable recent deals in Apheresis Market
6.4.1 Joint Ventures
6.4.2 Partnerships
6.4.3 Mergers & Acquisitions
6.4.4 Strategic divestments
7. Key Company Profiles
7.1 Walgreens Boots (WBA) Company overview
Product & Services, Strategies & Financials
7.2 CVS Health (CVS) Company overview
Product & Services, Strategies & Financials
7.3 Rite Aid (RAD) Company overview
Product & Services, Strategies & Financials
7.4 MedPlus Company overview
Product & Services, Strategies & Financials
7.5 Rexall Company overview
Product & Services, Strategies & Financials
7.6 Shoppers Drug Mart Company overview
Product & Services, Strategies & Financials
7.7 AS Watson Company overview
Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape
8.1 Policy changes and Reimbursement scenario
8.2 Government Initiatives / Intervention programs
9. Factors Driving Future Growth
9.1 New Trends and Development of Pharmacy market
9.2 Future Opportunities
10. Strategic Recommendations

Global Retail Pharmacy Market Segmentation

By Drug Type:

The pharmacies and drug stores market section of the report gives context. It compares the pharmacies and drug stores market with other segments of the pharmacies and drug stores market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, pharmacies and drug stores indicators comparison.

  • 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
  • Others

The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Our analysis methodology involves three critical stages:

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain the high level of accuracy and consistency. The market data is analysed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, market share as well as segment-level analysis of the specific market. Our report includes precise, to the point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

  • Statistical Databases
  • Company Websites/Annual Reports
  • Trade Publications
  • Online Databases
  • Published Research Reports
  • Whitepapers
  • Press Releases of Key Market Players

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and its impact to the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumptions.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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