What is the Size of the Global Pharmacy Retail Industry?
The Global Pharmacy Retail Market is largely driven by changing disease profiles, innovative marketing strategies, the introduction of new business models, and an upsurge in hospital-based pharmacies and wellness stores.
Rise in the prevalence of chronic diseases globally, growing healthcare expenditure, changing disease profile, innovative marketing strategies, upsurge in the development of hospital-based pharmacies and wellness stores, growing government funding, The rising geriatric population is the factors that will expand the pharmacy retail market.
There are several factors supporting the growth of the global and North American 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, an increasing number of geriatric population and the favorable government regulations.
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Global Pharmacy Retail Market by Market Structure
The Global Pharmacy Retail market is segmented By Market Structure into Organized and Unorganized. The presence of major pharmacy retail chains is limited to urban areas; hence the organized segment generates less revenue.
Global Pharmacy Retail Market By Type of Pharmacies
The Global Pharmacy Retail market is segmented By Type of Pharmacy into Community Pharmacies, Discount Pharmacies, and Hospital Pharmacies.
Community Pharmacy dominates the market in terms of the Number of Stores, followed by discount pharmacies in the country in 2022.
Global Pharmacy Retail Market By Type of Products
The Global Pharmacy Retail market is segmented By Type of Products into Prescribed Drugs, Over-The-Counter, Non-Pharmaceutical Products, and Medical Equipment. The OTC segment is estimated to witness the fastest CAGR during the forecast period. An increase in demand for OTC medications for diseases, such as upper respiratory medications, oral analgesics, and heartburn medications, is driving the segment growth.
Global Pharmacy Retail Market By Therapeutic Area
The Global Pharmacy Retail market is segmented By Therapeutic Area into Anti-Infective, Cardiovascular, Central Nervous System, Pain/Analgesics, Vitamins/Minerals/Nutrients, Antibiotics, Respiratory, Gastro-Intestinal, Gynecology, and Others.
Global Pharmacy Retail Market by Region
The Global Pharmacy Retail market is segmented by region into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa.
In Asia Pacific, the market for Pharmacy Retail services is anticipated to grow at the fastest rate from 2022 to 2027. This high growth is owing to growing unmet medical needs.
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Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Pharmaceutical Manufacturing Companies
- Pharmacy Retail Companies
- Independent Pharmacies
- Industry Associations
- Regulatory Bodies
- Telemedicine Companies
- Pharmaceutical Distributors & Wholesalers
Time Period Captured in the Report - Historical Period: 2017-2022
- Base Period: 2022
- Forecast Period: 2022-2027
Companies
Major Players Mentioned in the Report
- Ahold Delhaize
- Albertsons Companies Inc.
- Cipla
- CVS Pharmacy
- GlaxoSmithKline
- Loblaw
- Merck KGaA
- Novo Nordisk
- Rite Aid
- Sanofi
- Walgreens Boots Alliance
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