Press release
Prominent Pharmacies and Healthcare Stores Market Trend for 2025: Innovative Digital Pharmacy Solutions Transforming Patient Care
Pharmacies and Healthcare Stores
The growth of the pharmacies and healthcare stores market is anticipated to be fueled by the escalating elderly population. The term aging population denotes a growing portion of elderly individuals in a population, frequently indicated by a significant surge in individuals aged 65 and above. Longer life expectancy owing to healthcare advancements, a drop in birth rates, the maturing of the baby boomer generation, and enhancements in living conditions permitting individuals to lead longer, healthier lives, all contribute to the rising elderly population. Pharmacies and healthcare stores cater to the needs of the elderly population by offering crucial medications, health check-ups, and individualized consultations custom-made to cope with chronic diseases frequently linked with aging. For example, in January 2023, the United Nations, an intergovernmental organization based in the US, projected that the global population of people aged 65 and above is set to more than double, escalating from 761 million in 2021 to 1.6 billion by 2050. Moreover, the population segment aged 80 and beyond is growing even more swiftly. Hence, the ballooning elderly population is propelling the growth of the pharmacies and healthcare stores market.
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What is the future CAGR of the pharmacies and healthcare stores market, and how will it impact industry expansion?
The market size of pharmacies and healthcare stores has witnessed robust growth over the recent past. It is projected to expand from $1409.32 billion in 2024 to $1509.83 billion in 2025, registering a compound annual growth rate (CAGR) of 7.1%. This growth during the historical period was primarily driven by impressive economic development in emerging markets, an increase in healthcare spending, a surge in foreign direct investment (FDI) in the retail sector, and the growth and expansion of the pharmaceuticals industry.
A significant expansion is expected in the pharmacies and healthcare stores market over the forthcoming years, with the market size predicted to grow to $1897.79 billion by 2029, enjoying a compound annual growth rate (CAGR) of 5.9%. Various factors are set to fuel this growth during the forecast period, such as the growing older population, increasing incidence of diseases, soaring acceptance of the franchising model and a boost in E-pharmacy popularity. Notable trends predicted for the forecast period encompass the utilization of medicine vending machines in remote locations, the advancement of new technological solutions to strengthen market positions, the adoption of innovative technologies to enhance service, optimal stock availability, cost reduction, focus on automation for more efficient in-store operations, and collaborations with other businesses to broaden their geographic reach and optimize sales.
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What are the emerging trends shaping the future of the pharmacies and healthcare stores market?
Leading firms in the pharmacies and healthcare stores market are innovating by creating advanced pharmacy stores such as digital pharmacy stores. These are aimed at broadening their services and uplifting the customer experience. Digital pharmacy stores are essentially online applications or platforms that facilitate consumers to avail pharmaceutical products and services over the internet. For example, in January 2024, Eli Lilly and Company, a pharmaceutical company based in the US, commenced LillyDirect. This is a digital healthcare platform designed to enhance the availability of medications for patients suffering from diabetes, obesity, and migraines. The service encompasses a digital pharmacy where patients can order specific Lilly medications for home delivery without any shipping cost. Furthermore, they also provide telehealth services for virtual consultations with providers. LillyDirect also provides educational tools and resources to assist patients in locating local healthcare professionals.
Which key market segments comprise the pharmacies and healthcare stores market and drive its revenue growth?
The pharmacies and healthcare stores market covered in this report is segmented -
1) By Type: Pharmacies And Drug Stores, Food (Health) Supplement Stores, Other Healthcare And Personal Care Stores
2) By Ownership: Retail Chain, Independent Stores
3) By drug type: Prescription Drugs, Over-The-Counter (OTC) Drugs
Subsegments:
1) By Pharmacies And Drug Stores: Retail Pharmacies, Chain Drug Stores, Independent Pharmacies
2) By Food (Health) Supplement Stores: Vitamin And Mineral Stores, Herbal Supplement Stores, Sports Nutrition Stores
3) By Other Healthcare And Personal Care Stores: Health And Wellness Stores, Personal Care Product Stores, Beauty Supply Stores
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What regions are at the forefront of pharmacies and healthcare stores market expansion?
North America was the largest region in the pharmacies and healthcare stores market in 2024. Western Europe was the second-largest region in the pharmacies and healthcare stores market. The regions covered in the pharmacies and healthcare stores market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the pharmacies and healthcare stores market?
Major companies operating in the pharmacies and healthcare stores market include Walgreens Boots Alliance Inc., CVS Health Corporation, McKesson Corporation, The Kroger Company, Rite Aid Corporation, Loblaw Companies Limited, Welcia Holdings Co., Ltd., Dirk Rossmann GmbH, TSURUHA Holdings, Inc., Albertsons Companies, Inc., JD Health, Sinopharm Group Company, Shanghai Pharmaceuticals, Yifeng Pharmacy, Tongrentang Group, Shanghai Modern Pharmaceutical, Kangmei Pharmaceutical, Jumei International Holding, GlaxoSmithKline (GSK), Nordic Pharma Group, Phoenix Pharma Group, Bayer, DocMorris, Medpex, Zentiva, Rigla Pharmacy Chain, Erka Pharm, Doz Pharma, Costco Wholesale, Thumbay Pharmacy, Aster Pharmacy, Al Manara Pharmacy, Supercare Pharmacy, Tadawi Group, Nahdi Medical Company, Chemipal Ltd., Dis-Chem, Medirite Courier Pharmacy Service, Alphapharm, United Company of Pharmacists, MedSource Group Ltd, Goodlife Pharmacy
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What Is Covered In The Pharmacies and Healthcare Stores Global Market Report?
• Market Size Forecast: Examine the pharmacies and healthcare stores market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the pharmacies and healthcare stores market for a structured understanding.
• Key Players Overview: Analyze major players in the pharmacies and healthcare stores market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the pharmacies and healthcare stores market.
• Segment Contributions: Evaluate how different segments drive overall growth in the pharmacies and healthcare stores market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the pharmacies and healthcare stores market.
• Industry Challenges: Identify potential risks and obstacles affecting the pharmacies and healthcare stores market.
• Competitive Landscape: Review strategic developments in the pharmacies and healthcare stores market, including expansions, agreements, and new product launches.
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