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Global Pharmacy Retail Market Size, Share, Trends, Growth: By Type: Online, Offline; By Product Type: Prescribed Drugs, Over The Counter, Medical Equipment, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032
Global Pharmacy Retail Market Size
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.
Pharmacy Retail Market Outlook
- As of March 2023, on a per-store basis, retail chains dispensed around 138,000 prescriptions annually in the United States.
- Pharmacies are enhancing their market position by offering customers value-added services, such as 24x7 operations, door delivery, and credit card acceptance.
- As per industry reports, in 2022, German e-pharmacies recorded dermo-cosmetic sales growth of 10.2%.
Pharmacy Retail Market Growth
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.
Pharmacy Retail Industry Segmentation
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
- Online
- Offline
Market Breakup by Product Type
- Prescribed Drugs
- Over The Counter
- Medical Equipment
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Pharmacy Retail Market Share 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.
Leading Companies in Pharmacy Retail Market
The key players in the market are enhancing their online and offline distribution networks to improve their market share.
- 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
- Others
Key Highlights of the Report
| 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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Pharmacy Retail Market Analysis
8.1 Key Industry Highlights
8.2 Global Pharmacy Retail Historical Market (2018-2023)
8.3 Global Pharmacy Retail Market Forecast (2024-2032)
8.4 Global Pharmacy Retail Market by Type
8.4.1 Online
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Offline
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Pharmacy Retail Market by Product Type
8.5.1 Prescribed Drugs
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Over The Counter
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Medical Equipment
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Pharmacy Retail Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Pharmacy Retail Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Pharmacy Retail Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Pharmacy Retail Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Pharmacy Retail Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Pharmacy Retail Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 CVS Health Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Walgreens Boots Alliance Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Albertsons Companies, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Dirk Rossmann GmbH
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Rite Aid Corp.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Walmart Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 The Kroger Co.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Target Corporation
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 L Rowland & Co (Retail) Ltd.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 DocMorris NV
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Pharmacy Retail Market: Key Industry Highlights, 2018 and 2032
2. Global Pharmacy Retail Historical Market: Breakup by Type (USD Trillion), 2018-2023
3. Global Pharmacy Retail Market Forecast: Breakup by Type (USD Trillion), 2024-2032
4. Global Pharmacy Retail Historical Market: Breakup by Product Type (USD Trillion), 2018-2023
5. Global Pharmacy Retail Market Forecast: Breakup by Product Type (USD Trillion), 2024-2032
6. Global Pharmacy Retail Historical Market: Breakup by Region (USD Trillion), 2018-2023
7. Global Pharmacy Retail Market Forecast: Breakup by Region (USD Trillion), 2024-2032
8. North America Pharmacy Retail Historical Market: Breakup by Country (USD Trillion), 2018-2023
9. North America Pharmacy Retail Market Forecast: Breakup by Country (USD Trillion), 2024-2032
10. Europe Pharmacy Retail Historical Market: Breakup by Country (USD Trillion), 2018-2023
11. Europe Pharmacy Retail Market Forecast: Breakup by Country (USD Trillion), 2024-2032
12. Asia Pacific Pharmacy Retail Historical Market: Breakup by Country (USD Trillion), 2018-2023
13. Asia Pacific Pharmacy Retail Market Forecast: Breakup by Country (USD Trillion), 2024-2032
14. Latin America Pharmacy Retail Historical Market: Breakup by Country (USD Trillion), 2018-2023
15. Latin America Pharmacy Retail Market Forecast: Breakup by Country (USD Trillion), 2024-2032
16. Middle East and Africa Pharmacy Retail Historical Market: Breakup by Country (USD Trillion), 2018-2023
17. Middle East and Africa Pharmacy Retail Market Forecast: Breakup by Country (USD Trillion), 2024-2032
18. Global Pharmacy Retail Market Structure
Key Questions Answered in the Report
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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