The Global Pharmacy Retail Market Is Growing At A Robust CAGR In 2017-2022 And Is Expected To Be A $1 Trillion Market By 2027 - Ken Research

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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https://www.kenresearch.com/industry-reports/global-pharmcy-retail-market

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This release was published on openPR.