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The global pharmacy retail market was valued at USD 1.4 trillion in 2023. The market is further projected to grow at a CAGR of 3.70% between 2024 and 2032, reaching a value of USD 2.1 trillion by 2032.
Retail pharmacy chains are the largest type of pharmacy in the United States, operating in around 21,000 locations. Further, in 2021, regional pharmacies comprising grocers or supermarkets that have a pharmacy and mass retailers that have a pharmacy represented around 30% of stores in the country. On a per-store basis, mass retail and grocers dispensed around 91,000 prescriptions per pharmacy and per year on average.
In addition to selling over-the-counter (OTC) drugs and prescription drugs, pharmacy retail stores also sell several Fast-moving consumer goods (FMCG) products. Key drivers of the market include enhancement in medical infrastructure, increased penetration of health insurance, and growth in the number of middle-class households, globally. Factors such as stress, unhealthy food habits, and sedentary lifestyles are increasing the number of patients suffering from lifestyle-based diseases. These patients require medication regularly and are crucial contributors to the market growth.
Global Pharmacy Retail Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments.
Market Breakup by Type
Market Breakup by Product Type
Market Breakup by Region
Retail pharmacies in China are growing owing to favourable regulations and policies. One such policy is the “dual channel” system that allows medicines that are on the National Reimbursement Drug List (NRDL) to be sold and reimbursed at both designated hospitals and retail pharmacies. China has also permitted the online sales of prescription drugs since December 2022. These policies and regulations allow patients to obtain prescriptions from hospitals but purchase medicines from pharmacies outside the hospital.
The key players in the market are enhancing their online and offline distribution networks to improve their market share.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Product Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the pharmacy retail market reached an approximate value of USD 1.4 trillion.
The market is expected to grow at a CAGR of 3.70% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 2.1 trillion by 2032.
The retail pharmacy is also known as a community pharmacy. It is the most accessible and closest pharmacy for the general public.
Retail pharmacists supply and sell drugs and medical-related products to the public and medical practitioners. Additionally, they sell goods such as toiletries, cosmetics, and veterinary products.
The major drivers of the market include a growing ageing population and the prevalence of chronic diseases, an expanding medical infrastructure, and the growing online sales of pharmaceuticals.
Key trends aiding market expansion include pharmacies providing 24*7 services and doorstep deliveries, major pharmacies expanding their distribution network, and rising awareness of diseases.
Major regions in the market are North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The common types of pharmacy retail are online and offline.
Key players in the market are CVS Health Corporation, Walgreens Boots Alliance Inc., Albertsons Companies, Inc., Dirk Rossmann GmbH, Rite Aid Corp., Walmart Inc., The Kroger Co., Target Corporation, L Rowland & Co (Retail) Ltd., DocMorris NV, and others.
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+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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