Pharmacies And Healthcare Stores Global Market To Reach Value Of About $1.30 trillion In 2025
21 Jan, 2021
The pharmacies and healthcare stores market consists of sales of pharmaceuticals and healthcare products by entities (organizations, sole traders and partnerships) that sell pharmaceuticals and healthcare products such as drugs, medical devices, and other personal care products through pharmacies and other health and personal care stores. The pharmacies and healthcare stores market is segmented into pharmacies and drug stores and other health and personal care stores.
Global Pharmacies and Healthcare Stores Market Size And Drivers:
The global pharmacies and healthcare stores market is expected to grow from $1.00 trillion in 2020 to $1.06 trillion in 2021 at a compound annual growth rate (CAGR) of 5.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.30 trillion in 2025 at a CAGR of 5%. The pharmacies and healthcare stores market is expected to benefit from steady economic growth forecasted for many developed and developing countries.
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Trends In The Global Pharmacies and Healthcare Stores Market
Pharmacies are increasingly using medicine vending machines to service customers especially in remote locations where they cannot invest in opening an establishment and stationing pharmacists. A medicine vending machine is equipped with a phone, internet connection, a prescription scanner, in-built POS machine and up to 2,000 packs of commonly used prescription drugs. The machine identifies drugs with the help of microchip attached on the packs. The vending machine also allows patients to discuss with a pharmacist via video link. The pharmacist checks the prescription and authorizes the transaction and then the patients can pay either by inserting cash into the machine or through a debit or credit card. Once the payment is confirmed, the medicines can be collected from drop box of the machine.
Global Pharmacies and Healthcare Stores Market Segments:
The global Pharmacies and healthcare stores market is further segmented based on type, ownership and geography.
By Type: Pharmacies and Drug Stores, Other Health and Personal Care Stores
By Ownership: Retail Chain, Independent Retailer
By Geography: The global Pharmacies and healthcare stores market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, the North American was the largest region in the global pharmacies and healthcare stores market, accounting for 33% of the total market.
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Pharmacies and Healthcare Stores Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides Pharmacies and healthcare stores market overviews, analyzes and forecasts market size and growth for the global Pharmacies and healthcare stores market, Pharmacies and healthcare stores market share, Pharmacies and healthcare stores market players, Pharmacies and healthcare stores market segments and geographies, Pharmacies and healthcare stores market’s leading competitors’ revenues, profiles and market shares. The Pharmacies and healthcare stores market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.