Pharmacies & Drug Stores in the US - Industry Market Research Report

Pharmacies & Drug Stores in the US - Industry Market Research Report

  • July 2021 •
  • 47 pages •
  • Report ID: 198915 •
  • Format: PDF
Healthy start: A recovering economy is expected to boost industry revenue growth

Abstract

Pharmacies & Drug Stores in the US
Over the five years to 2019, the Pharmacies and Druge Stores industry exhibited growth despite some adverse side effects from the regulatory environment and growing external competition. Still, the rise in the number of individuals aged 65 and over, in tandem with increases in spending on prescription medication, is expected to lead to revenue growth. However, heightened competition from large retail stores with ancillary pharmaceutical services, such as Costco Wholesale Corporation and Walmart Inc., and the rising prevalence and convenience of mail-order and online pharmaceuticals will continue to threaten the industry. Over the five years to 2024, the industry is expected to continue its upward trajectory, despite expected increases in external competition. This expected growth can be tied to the expected increase in the elderly population, along with rising per capita disposable income. Additionally, operators are expected to incorporate more preventative care options and clinic services to attract a wider customer base, and many operators will attempt to further revenue gains by offering a larger product portfolio of high-margin biologic drugs.

Pharmacies and drug stores retail a range of prescription and over-the-counter medications, health and beauty items, toiletries and consumable goods directly to consumers on a walk-in basis. Industry companies may also provide basic health and photo processing services. The industry excludes mail-order retailers, hospitals and clinics.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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