The Business Research Company’s report on the Pharmacies and Healthcare Stores Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
#How have key drivers contributed to the rapid growth of the pharmacies and healthcare stores market?
Rising aging population is expected to propel the growth of the pharmacies and healthcare stores market going forward. The aging population refers to the increasing proportion of older individuals within a population, typically characterized by a significant rise in the number of people aged 65 and older. The rising aging population is driven by increased life expectancy due to advancements in healthcare, declining birth rates, the aging of the baby boomer generation, and improvements in living conditions that allow individuals to live longer, healthier lives. Pharmacies and healthcare stores serve the aging population by providing essential medications, health screenings, and personalized consultations tailored to managing chronic conditions often associated with aging. For instance, in January 2023, according to the United Nations, a US-based intergovernmental organization, the global population of individuals aged 65 and older is expected to more than double, increasing from 761 million in 2021 to 1.6 billion by 2050. Additionally, the segment of the population aged 80 and above is experiencing even more rapid growth. Therefore, the rising aging population is driving the growth of the pharmacies and healthcare stores market.
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How has the pharmacies and healthcare stores market size evolved, and what are the latest forecasts for its expansion?
The pharmacies and healthcare stores market size has grown strongly in recent years. It will grow from $1409.32 billion in 2024 to $1509.83 billion in 2025 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rise in healthcare expenditure, growing FDI in retail and growth and expansion of the pharmaceuticals industry.
The pharmacies and healthcare stores market size is expected to see strong growth in the next few years. It will grow to $1897.79 billion in 2029 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to rising older population, increasing prevalence of diseases, rising popularity of the franchising concept and increasing popularity of Epharmacy will drive the growth. Major trends in the forecast period include leveraging medicine vending machines to service customers especially in remote locations, developing new technological solutions to strengthen their position in the market, leverage innovative technologies to improve service, optimize stock availability and cut costs, focus on automation to streamline in-store operations and collaborate with other companies to expand their geographical presence and to maximize sales.
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Which major companies dominate 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
What trends will shape the future of the pharmaceutical suppositories market?
Major companies operating in the pharmacies and healthcare stores market are opening cutting-edge pharmacy stores, such as digital pharmacy stores, to expand their service offerings and enhance the customer experience. Digital pharmacy stores refer to online platforms or applications that allow consumers to access pharmaceutical services and products via the internet. For instance, in January 2024, Eli Lilly and Company, a US-based pharmaceutical company, launched LillyDirect, a digital healthcare platform aimed at improving access to medications for patients with diabetes, obesity, and migraines. This service includes a digital pharmacy that allows patients to order select Lilly medications online for home delivery at no shipping cost, along with telehealth services for remote consultations with independent providers. Additionally, LillyDirect offers educational resources and tools to help patients find local healthcare professionals.
Which region dominates the pharmacies and healthcare stores market, and what factors contribute to its leadership?
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
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How is the pharmacies and healthcare stores market segmented, and which segment holds the largest share?
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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How is the pharmacies and healthcare stores market defined?
Pharmacies and healthcare stores are stores that sell pharmaceuticals and healthcare products such as drugs, medical devices, and other personal care products.
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