Global Pharmacies And Healthcare Stores Market
Dublin, March 16, 2023 (GLOBE NEWSWIRE) — The “Pharmacies and Healthcare Stores Global Market Opportunities and Strategies to 2032” report has been added to ResearchAndMarkets.com’s offering.
The pharmacies and healthcare stores market reached a value of nearly $1,090.26 billion in 2022, having grown at a compound annual growth rate (CAGR) of 6.4{7b6cc35713332e03d34197859d8d439e4802eb556451407ffda280a51e3c41ac} since 2017. The market is expected to grow from $1,090.26 billion in 2022 to $1,644.25 billion in 2027 at a rate of 6.4{7b6cc35713332e03d34197859d8d439e4802eb556451407ffda280a51e3c41ac}. The market is then expected to grow at a CAGR of 6.2{7b6cc35713332e03d34197859d8d439e4802eb556451407ffda280a51e3c41ac} from 2027 and reach $2,220.18 billion in 2032.
Growth in the historic period resulted from strong economic growth in emerging markets, rise in healthcare expenditure, growing FDI in retail and growth and expansion of the pharmaceuticals industry.
Going forward, rising older population, increasing prevalence of diseases, rising popularity of the franchising concept and increasing popularity of ePharmacy will drive the growth. Factors that could hinder the growth of the pharmacies and healthcare stores market in the future include low per capita healthcare expenditure and lack of skilled professionals.
The pharmacies and healthcare stores market is segmented by type into pharmacies and drug stores, food (health) supplement stores and other healthcare and personal care stores. The pharmacies and drug stores market was the largest segment of the pharmacies and healthcare stores market segmented by type accounting for 89.4{7b6cc35713332e03d34197859d8d439e4802eb556451407ffda280a51e3c41ac} of the total in 2022. Going forward, the food (health) supplement stores market is expected to be the fastest growing segment in the pharmacies and healthcare stores market segmented by type, at a CAGR of 10.5{7b6cc35713332e03d34197859d8d439e4802eb556451407ffda280a51e3c41ac} during 2022-2027.
The pharmacies and healthcare stores market is segmented by ownership into retail chain and independent stores. The retail chain market was the largest segment of the pharmacies and healthcare stores market segmented by ownership accounting for 76.5{7b6cc35713332e03d34197859d8d439e4802eb556451407ffda280a51e3c41ac} of the total in 2022. Going forward, the independent stores market is expected to be the fastest growing segment in the pharmacies and healthcare stores market segmented by ownership, at a CAGR of 6.7{7b6cc35713332e03d34197859d8d439e4802eb556451407ffda280a51e3c41ac} during 2022-2027.
The pharmacies and healthcare stores market is segmented by drug type into prescription drugs and over-the-counter (OTC) drugs. The prescription drugs market was the largest segment of the pharmacies and healthcare stores market segmented by drug type accounting for 80.3{7b6cc35713332e03d34197859d8d439e4802eb556451407ffda280a51e3c41ac} of the total in 2022. Going forward, the over-the-counter (OTC) market is expected to be the fastest growing segment in the pharmacies and healthcare stores market segmented by drug type, at a CAGR of 6.5{7b6cc35713332e03d34197859d8d439e4802eb556451407ffda280a51e3c41ac} during 2022-2027.
North America was the largest region in the pharmacies and healthcare stores market, accounting for 32.0{7b6cc35713332e03d34197859d8d439e4802eb556451407ffda280a51e3c41ac} of the total in 2022. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the pharmacies and healthcare stores market will be Middle East, and, South America where growth will be at CAGRs of 12.1{7b6cc35713332e03d34197859d8d439e4802eb556451407ffda280a51e3c41ac} and 9.9{7b6cc35713332e03d34197859d8d439e4802eb556451407ffda280a51e3c41ac} respectively. These will be followed by Africa, and, Asia Pacific where the markets are expected to grow at CAGRs of 8.1{7b6cc35713332e03d34197859d8d439e4802eb556451407ffda280a51e3c41ac} and 7.0{7b6cc35713332e03d34197859d8d439e4802eb556451407ffda280a51e3c41ac} respectively.
The top opportunities in the pharmacies and healthcare stores market segmented by type will arise in the pharmacies and drug stores segment, which will gain $368.49 billion of global annual sales by 2027. The top opportunities in segment by ownership will arise in the retail chain segment, which will gain $330.40 billion of global annual sales by 2027. The top opportunities in segment by drug type will arise in the prescription drugs segment, which will gain $351.17 billion of global annual sales by 2027. The pharmacies and healthcare stores market size will gain the most in USA at $92.27 billion.
Market-trend-based strategies for the pharmacies and healthcare stores market 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.
Player-adopted strategies in the pharmacies and healthcare stores market include strengthening business operations through strategic investments, enhancing business activities through the launch of new products and expanding business capabilities through strategic acquisitions.
Reasons to Purchase
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Scope
Markets Covered:
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
Key Attributes:
|
Report Attribute |
Details |
|
No. of Pages |
461 |
|
Forecast Period |
2021 – 2031 |
|
Estimated Market Value (USD) in 2021 |
$1205.1 Billion |
|
Forecasted Market Value (USD) by 2031 |
$2220.2 Billion |
|
Compound Annual Growth Rate |
6.3{7b6cc35713332e03d34197859d8d439e4802eb556451407ffda280a51e3c41ac} |
|
Regions Covered |
Global |
Key Topics Covered:
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
6. Introduction And Market Characteristics
7. Product/Service Analysis -Product/Service Examples
8. Supply Chain Analysis
9. Customer Information
10. Major Market Trends
11. Global Market Size And Growth
12. Pharmacies And Healthcare Stores Market, Regional Analysis
13. Global Market Segmentation
14. Market Comparison with Macro Economic Factors
15. Asia-Pacific Market
16. Western Europe Market
17. Eastern Europe Market
18. North America Market
19. South America Market
20. Middle East Market
A selection of companies mentioned in this report includes
For more information about this report visit https://www.researchandmarkets.com/r/ozq30w
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