Pharmacy Market Size Worth over USD 4 Tillion in 2035 | Roots Analysis

The pharmacy industry’s growth is primarily attributed to the significant increase in the demand for personalized medicines and specialty medicines. More than 35% of the overall drug spending is on specialty brand drugs for the treatment of various complex and rare chronic diseases, including cancer, type 2 diabetes and congestive heart failure.

Strategic initiatives such as digital innovations, technology integration and online home delivery services have been among the important drivers for the rise in the overall pharmacies market. Further, the inclusion of various customer centric services, such as home care, laboratory services, mail order pharmacy and specialty pharmacy services through pharmacies has been a significant driving factor in the pharmacy market. 

These value-added services provide customers with increased convenience, accessibility and a comprehensive approach to their healthcare needs, making pharmacies a more attractive and preferred choice for customers. As a result, pharmacies are constantly looking out for opportunities to enhance their product and service offering in order to cater to the rising demand for patient-centric approaches.

The pharmacy market is anticipated to be worth USD 2.4 trillion in 2024, and this value is likely to reach over USD 4.1 trillion by 2035, expanding at a CAGR of 5% according to a new report by Roots Analysis.

Key Report Takeaways

§  More than 70% of the key pharmacy players are large companies with more than 500 employees; of these, close to 45% of the players are publicly listed companies

§  To gain competitive advantage, companies are continuously upgrading their capabilities to advance their pharmacy products and service portfolios

§  Value chain analysis, a strategic blueprint that streamlines processes, harnesses innovation and ensures seamless delivery of cutting-edge pharmaceuticals and medical devices to patients across the globe

§  Driven by the rising prevalence of chronic diseases coupled with the rapidly growing aging population and increasing demand for digital platforms, the pharmacy market is poised to witness steady growth in the foreseeable future

§  The pharmacy market is expected to grow at a CAGR of 5%, till 2035; the retail pharmacy segment is expected to capture the majority share (close to 50%) of the market by 2035

§  The anticipated future opportunity in the pharmacy domain is expected to be well distributed across multiple segments, such as type of drug, drug molecule and e-pharmacy platform

§  The anticipated future opportunity in the pharmacy domain is expected to be well distributed across multiple segments, such as therapeutic area, key players and geographical regions

§  A comprehensive set of profiles of prominent / emerging players offer valuable insights into their current strategic focus and future initiatives, empowering stakeholders with crucial information

Competitive Landscape of Pharmacy Market

The pharmacy market landscape is highly fragmented, featuring the presence of large, mid-sized and small players, offering a wide range of pharmacy products (such as drugs / pharmaceuticals, medical devices and other pharmacy products). Further, more than 70% of the key pharmacy players are large companies.

It is worth highlighting that 33% of the key pharmacy players engaged in this industry are publicly listed companies; close to 80% of companies are headquartered in North America. Presently, Cigna, along with CVS Health and Walgreens Boots Alliance, capture the majority share of the global pharmacy market.

Regional Outlook

Based on the geographical regions, the pharmacy market can be segmented into five major regions, including North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America. Led by the US, North America is anticipated to capture the majority share of the pharmacy market in 2024. The growth of the pharmacy market in North America is driven by the growing prevalence of chronic diseases in the North American population, financial capacity to invest in advanced healthcare technologies and infrastructure, and partnerships and collaborations established by various stakeholders in this region.

Pharmacy Market Key Players

Examples of key companies engaged in the pharmacy market (which have also been profiled in this market report) include:

§  Ahold Delhaize

§  Albertsons

§  A.S. Watson

§  Bestway

§  Cardinal Health

§  Cigna

§  COSMOS

§  Costco

§  CVS Health

§  Dirk Rossmann

§  Dr. Max

§  Good Neighbor Pharmacy

§  Health Mart

§  Kroger

§  Matsumoto Kiyoshi

§  Phoenix

§  Rite Aid

§  The Jean Coutu

§  Walmart

§  Walgreens Boots Alliance

§  Well Pharmacy

Pharmacy Market Segments

Based on the research, Roots Analysis has segmented the Pharmacy Market into Type of Pharmacy, Type of Product Offered, Availability, Type of Drug, Type of Drug Molecule, Type of e-pharmacy Platform, Therapeutic Area and Geographical Regions.

by Type of Pharmacy

§  Retail Pharmacy

§  E-pharmacy

§  Hospital Pharmacy

§  Other Pharmacies 

by Type of Product Offered

§  Drugs / Pharmaceuticals

§  Medical Devices

§  Other Pharmacy Products

by Availability

§  Prescription Products

§  Over-the-counter Products 

by Type of Drug

§  Branded / Patented Drugs

§  Generic Drugs

by Type of Drug Molecule

§  Small Molecules

§  Biologics

by Type of e-pharmacy Platform

§  App-based Platforms

§  Web-based Platforms

by Therapeutic Area 

§  Oncological Disorders

§  Cardiovascular Disorders

§  Neurological Disorders

§  Infectious Diseases

§  Metabolic Disorders

§  Respiratory Disorders

§  Dermatological Disorders

§  Genetic Disorders

§  Autoimmune / Inflammatory Disorders

§  Other Disorders

by Key Geographical Regions

§  North America

§  Europe

§  Asia-Pacific

§  Middle East and North Africa

§  Latin America

Browse Full Report Description + Research Methodology + Table of Content + Infographics here: https://www.rootsanalysis.com/reports/pharmacy-market.html

About Roots Analysis

Roots Analysis is a global leader in the pharma / biotech market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serve our clients in the best possible way.

Contact US

Gaurav Chaudhary

+1 (415) 800 3415

+44 (122) 391 1091

Email: sales@rootsanalysis.com