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Pharmacy Market Size, Share & Growth
Forecast to 2032
The global pharmacy market is experiencing significant growth, driven by factors such as the increasing
prevalence of chronic diseases, an aging population, and advancements in healthcare technology. With the
integration of digital platforms and the expansion of e-pharmacies, the industry is poised for substantial
transformation and expansion in the coming years.
In 2023, the global pharmacy market size was valued at USD 2,051.5 billion. It is expected to grow from
USD 2,187.5 billion in 2024 to USD 3,886.3 billion by 2032, registering a compound annual growth rate
(CAGR) of 7.4% during the forecast period. North America led the market in 2023, accounting for a 38.26%
share.
Top Companies in the Market
 Walmart Inc. (U.S.)
 CVS Health (U.S.)
 Walgreens Boots Alliance, Inc. (U.S.)
 Kroger | The Kroger Co (U.S.)
 Kaiser Foundation Health Plan, Inc. (U.S.)
 Target Brands, Inc. (U.S.)
 Bellin Health Systems (U.S.)
 Geisinger Health (U.S.)
 Rite Aid Corp. (U.S.)
Key Industry Development
June 2024: Infosys Limited collaborated with Nihon Chouzai (TSE), Japan's leading dispensing
pharmacy chain. This collaboration expanded healthcare access in Japan with enhanced online
medication services in the country.
Market Drivers & Restraints
Drivers:
 Rising prevalence of chronic diseases such as diabetes and hypertension.

Increasing geriatric population requiring regular medication.
 Advancements in digital health technologies and telemedicine.
 Expansion of e-pharmacy platforms offering convenience and accessibility.
Restraints:
 Regulatory challenges and compliance issues across different regions.
 Concerns regarding the authenticity of medications sold online.
 Supply chain disruptions affecting the timely delivery of pharmaceuticals.

https://www.fortunebusinessinsights.com/pharmacy-market-110942

Market Report Coverage
The comprehensive market report covers various aspects of the pharmacy industry, including
market size, growth trends, competitive landscape, and regional insights. It provides an in-depth
analysis of the factors influencing market dynamics and offers strategic recommendations for
stakeholders.


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Market Competitive Landscape
The pharmacy market is highly competitive, with key players focusing on mergers, acquisitions,
and collaborations to strengthen their market position. The integration of digital technologies and
expansion into emerging markets are common strategies adopted by leading companies to gain a
competitive edge.
Market Segments
The market is segmented based on:
 Type: Prescription and Over-the-Counter (OTC) medications.
 Setting: Hospital pharmacies, retail pharmacies, e-pharmacies, and others.
Among these, the prescription segment leads the market, driven by the increasing demand for
chronic disease management medications.
Market Regional Insights
North America: Dominates the global pharmacy market, attributed to advanced healthcare
infrastructure and high healthcare expenditure.
Europe: Shows steady growth with a focus on regulatory compliance and the integration of
digital health solutions.
Asia-Pacific: Exhibits rapid growth due to increasing healthcare awareness, rising disposable
incomes, and the expansion of e-pharmacy platforms.
Future Market Scope
The pharmacy market is expected to continue its upward trajectory, with projections indicating
substantial growth in the coming years. Factors such as the integration of artificial intelligence in
pharmacy operations, personalized medicine, and the expansion of telepharmacy services are
anticipated to shape the future landscape of the industry.
Frequently Asked Questions (FAQ’s)
1. What is the market size of pharmacy market ?
2. What factors are driving pharmacy market growth in North America?
3. Who are the major players in the pharmacy market ?
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