Global Contract Development Manufacturing Organizations Market

Pharmacies And Healthcare Stores Market Definition

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. Pharmacies and drug stores are engaged in retailing prescription and/or nonprescription drugs and medicines. The pharmacies and healthcare stores are also engaged in retailing food supplement products, such as nutrition supplements, vitamins, and body enhancing supplements. Additionally, some of the companies operating in the market are involved in retailing prescription and nonprescription drugs via electronic home shopping, mail-order, or direct sales.

Contract Research Organizations (CRO) Market Definition

CRO Production Market The CRO production market consists of the value of CRO services produced by entities (organizations, sole traders and partnerships) that provide outsourcing of research services such as clinical trial data management, database design and build, data entry and validation, medicine and disease coding, project management, quality and metric reporting, safety and efficacy summaries, and statistical analysis plans and reports, on a contract basis. The production market for a particular geography includes the value of CRO services produced or generated by CRO service providers operating in that geography. CRO Consumption Market The contract research organization (CRO) consumption market consists of sales of contract research organizations’ services and related goods by entities (organizations, sole traders and partnerships) that provide outsourcing of research services such as clinical trial data management, database design and build, data entry and validation, medicine and disease coding, project management, quality and metric reporting, safety and efficacy summaries, and statistical analysis plans and reports, on a contract basis. The consumption market for a particular geography includes the revenues generated by CROs (both domestic and foreign based companies) by selling CRO services to end users pharmaceutical and medical equipment companies in that geography irrespective of where the CRO services are produced or generated.

The pharmaceutical drug market consists of sales of goods and related services by entities (organizations, sole traders and partnerships) that produce and sell pharmaceutical drugs used to treat various diseases. This industry includes establishments that produce drugs such as cardiovascular drugs, gastrointestinal drugs, genito-urinary drugs, hematology drugs and other drugs used to treat cardiovascular diseases, rare genetic disorders, infections, metabolic disorders, cancers, respiratory diseases and others. The main types of pharmaceutical drugs are cardiovascular drugs, dermatology drugs, gastrointestinal drugs, genito-urinary drugs, hematology drugs, anti-infective drugs, metabolic disorders drugs, musculoskeletal disorders drugs, central nervous system drugs, oncology drugs, ophthalmology drugs and respiratory diseases drugs. Cardiovascular drugs are used to treat medical conditions associated with the heart or the circulatory system (blood vessels), such as arrhythmias, blood clots, coronary artery disease, high or low blood pressure, high cholesterol, heart failure, and stroke. The drugs are administered through oral, parenteral, and others that are classified into branded and generic drugs. The various mode of purchase includes prescription-based drugs and over-the-counter drugs which are distributed by hospital pharmacies, retail pharmacies/ drug stores and others. The global pharmaceutical drugs market size is expected to grow from $ 1,075.97 billion in 2021 to $1,136.23 billion in 2022 at a compound annual growth rate (CAGR) of 5.6%. The growth in the market 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 pharmaceutical drugs market is expected to reach $1,635.128 billion in 2026 at a CAGR of 9.5%. The rise in sedentary jobs, busy lifestyles and changing consumer preferences are affecting the disease profile of the world population, especially non-communicable diseases such as cancer, diabetes and cardiovascular diseases. Long working hours, less physical activity, and unhealthy eating and drinking habits are major causes of chronic diseases such as diabetes. According to the World Health Organization, chronic disease prevalence rose by 57% globally, in the year 2020. China and India together had about 193.4 million diabetic patients in 2019 and India is expected to have about 101 million diabetic patients by 2030, thereby increasing the need for biologics drugs for diabetic patients. These factors are expected to increase the patient pool globally, thereby driving the pharmaceutical drugs market during the forecast period. Interest rates globally are forecasted to rise in most of the developing and developed economies, during the forecast period, this is expected to limit new investments in the market. Most countries across the world are raising interest rates to control inflation and also to limit the flow of capital out of the country. This is likely to affect new investments in terms of expansion, research and development of new products. For instance, the US interest rates rose up to 3.5% by 2021. These factors are expected to have a negative impact on the market as borrowing money becomes expensive, thereby affecting the pharmaceuticals market growth. Early Rx-to-OTC switch, or switching the product from prescription to non-prescription status, is a key trend in the dermatology drugs market. Traditionally, the Rx-to-OTC status conversion was generally observed at a phase nearing the patent expiry or after. However, forward-thinking companies are now looking at switching from Rx-to-OTC well in advance of the patent expiry of the drug. This helps the manufacturer to capitalize on the market opportunities for the product. Early Rx-to-OTC switching also provides an additional benefit as a way to recover all the expenses incurred on the product by the company. For example, in 2020, FDA has switched three prescription drugs to OTC including Voltaren for arthritis pain, olopatadine hydrochloride 0.1% and 0.2% (Pataday Twice Daily Relief and Pataday Once Daily Relief) for temporary relief of itchy and red eyes due to pollen, ragweed and grass. Major companies in the pharmaceutical drugs market include Bristol-Myers Squibb, Sanofi S.A, Johnson & Johnson, Novartis AG, Bayer AG, Abbott Laboratories, GlaxosmithKline, AstraZenec, Merck & Co and CJ Corp. North America was the largest region in the pharmaceutical drugs market in 2021. The Middle East is expected to be the fargest growing region in the forecast period. The regions covered in the pharmaceutical drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the pharmaceutical drugs market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The global pharmaceutical drugs market is segmented - 1) By Type: Cardiovascular Drugs, Dermatology Drugs, Gastrointestinal Drugs, Genito-Urinary Drugs, Hematology Drugs, Anti-Infective Drugs, Metabolic Disorders Drugs, Musculoskeletal Disorders Drugs, Central Nervous System Drugs, Oncology Drugs, Ophthalmology Drugs, Respiratory Diseases Drugs 2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies/ Drug Stores, Others 3) By Route of Administration: Oral, Parenteral, Others 4) By Drug Classification: Branded Drugs, Generic Drugs 5) By Mode of Purchase: Prescription-Based Drugs, Over-The-Counter Drugs Subsegments Covered: Anti-Hypertensive Drugs, Hypolipidemics, Anti Thrombotics, Other Drugs for Cardiovascular Diseases (Congestive Heart Failure, Anti-Arrhythmic and Anti-Anginal Drugs), Acne Drugs, Dermatitis, Psoriasis, Other Drugs for Dermatology Diseases, Antacids, Antiulcerants, Vitamin and Minerals, Antiobesity, Antiemetics and Antinauseants, Antidiarrhoeals, Hormonal Contraceptives, Drugs for Benign Prostatic Hypertrophy, Drugs for Infertility, Drugs for Erectile Dysfunction, Drugs for Urinary Incontinence and Overactive Bladder, Drugs for Infections and Others, Drugs for Hormonal Replacement Therapy, Diuretics, Blood Products, Anemia and Other Blood Disorder Drugs, Antibiotics, Antivirals, Antifungals, Others (Anthelminthic, Antiprotozoal), Anti Diabetics Drugs, Anti-Thyroid Drugs, Others (Hyperparathyroidism, Hypopituitarism, Hypoadrenalism), Drugs for Rheumatoid Arthritis, Muscle Relaxants, Other Musculoskeletal Disorders Drugs, Analgesics, Anti-Parkinsons Drugs, Anesthetics, Anti-Epileptics, Other CNS Drugs, Lung Cancer Drugs, Pancreatic Cancer Drugs, Breast Cancer Drugs, Prostate Cancer Drugs, Ovarian Cancer Drugs, Colorectal Cancer Drugs, Gastric Cancer Drugs, Kidney Cancer Drugs, Brain Tumor Drugs, Thyroid Cancer Drugs, Skin Cancer Drugs, Bladder Cancer Drugs, Cervical Cancer Drugs, Blood Cancer Drugs, Others (Kaposi Sarcoma, AIDS-Related Lymphoma, Anal Cancer, Bone Cancer, Retinoblastoma, Testicular Cancer, Hepatocellular (Liver) Cancer, Mouth Cancer, Neuroblastoma), Antiglaucoma Drugs, Dry Eye Medication, Other Ophthalmological Drugs (Retinal Disorders, Anti-Infectives/Allergy), Anti-Asthmatics and COPD Drugs, Cough and Cold Preparations

The pharmaceutical active pharmaceutical ingredients (API) manufacturing market consists of sales of pharmaceutical active pharmaceutical ingredients and related services. Active pharmaceutical ingredients are used to produce drugs which treat various diseases such as cardiovascular diseases, rare genetic disorders, infections, metabolic disorders, cancers, respiratory diseases and others. Active pharmaceutical ingredient is a chemical which is responsible for the pharmacological activity in the living body and are used as a major base for preparation of drugs. The main therapy areas of pharmaceutical API manufacturing are cardiovascular disorders, metabolic disorders, neurological disorders, oncology, musculoskeletal disorders, NSAIDs and other therapeutics uses. Cardiovascular diseases are a group of heart and blood vessel disorders. The various API type include chemical API and biological API that are used to produce innovative drugs, generic prescription, over-the-counter (OTC) drugs. The global pharmaceutical API manufacturing market size is expected to grow from $179.05 billion in 2021 to $195.29 billion in 2022 at a compound annual growth rate (CAGR) of 9.1%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while 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 pharmaceutical API manufacturing market is expected to reach $250.66 billion in 2026 at a CAGR of 6.4%. The rise in aging population is one of the major drivers of the pharmaceutical API manufacturing market. As the aging population increases, the demand for pharmaceutical drugs also increases. API acts as a specialty drug in these medicines to cure a particular disease. For instance, in 2019, number of people over the age of 65 were 703 million, in 2050, the number of elderly people is expected to double to 1.5 billion. This led to increase demand for pharmaceutical drugs, significantly impacting the pharmaceutical API manufacturing market growth. Stringent regulations for approval of pharmaceutical drugs acts as a restraint on the pharmaceutical API manufacturing market. Various regions have their own set of rules, guidelines, and regulations set by their respective drugs regulatory bodies. For example, in Japan, the manufacturers have to register an API with Japan’s Pharmaceuticals and Medical Devices Agency (PMDA) through the country’s Drug Master File (DMF) system. Products like APIs and new excipients i.e. inactive substances used in a drug should be registered compulsorily. The API manufacturer is also responsible for DMF registration, even if they don't have their office in Japan. They should appoint an in-country caretaker (ICC) to apply on their behalf. Also, if there are any changes to be made to DMF products, either an application for change in registration or a minor change notification should be submitted by the ICC to the PMDA. This whole process delays the drugs approvals, thereby negatively affecting the pharmaceuticals API manufacturing market. Many companies use modern technologies such as process control, and powder handling to optimize API manufacturing. These technologies include advances in Lyophilization i.e. freeze-drying process. It is a low-temperature dehydration process which involves freezing the product, lowering pressure and then removing the ice formed. For instance, Telstar, a company that manufactures efficient integrated systems for pharmaceutical and manufacturing processes, developed LyoGistics Zero, an automatic loading and unloading system for freeze dryers to manufacture hazardous products. The system uses a linear magnetic driving mechanism which functions without racks and belts to reduce particle generation and this improves the hygiene in API manufacturing. Also, ILC Dover, a pharmaceutical company, developed JetBreaker system, a semi-automatic powder handling system that separates powdered media and buffers powders so that they can be mixed better in a solution. In January 2019, Bristol-Myers Squibb, a US-based company that discovers and manufactures biopharmaceutical products and drugs for cancer and other diseases acquired Celgene Corporation for $74 billion. With this acquisition, Bristol-Myers Squibb led to develop more innovative medicines and also result in a wider portfolio. Celgene Corporation, a US-based company that discovers, develops and commercializes medicines for cancer and inflammatory disorders. Major players in the pharmaceutical API manufacturing market are Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Boehringer Ingelheim, PfizerInc., Aurobindo Pharma, Novartis AG, Dr. Reddy's Laboratories, Merck & Co.Inc., BASF SE., Bayer Healthcare, Mylan N.V., Albemarle Corporation, Actavis plc, Hospira Inc., Ranbaxy Laboratories, Virbac, Zoetis, Heska Co., AbbVie Inc., AstraZeneca plc, Eli Lilly and Company, GlaxoSmithKline plc, Sanofi, Bristol-Myers Squibb, CiplaInc., and F. Hoffmann-La Roche Ltd. North America was the largest region in the pharmaceutical API manufacturing market in 2021. The Middle East is expected to be the fargest growing region in the forecast period. The regions covered in the pharmaceutical API manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the pharmaceutical API manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global pharmaceutical api manufacturing market is segmented - 1) By Therapy Area: Cardiovascular Disorders, Metabolic Disorders, Neurological Disorders, Oncology, Musculoskeletal Disorders, NSAIDs, Other Therapeutics Uses 2) By API Type: Chemical API, Biological API 3) By Drug Type: Innovative Drugs, Generic Prescription, Over-The-Counter (OTC) Drugs

The pharmaceutical contract development and manufacturing market consists of sales of pharmaceutical contract development and manufacturing products and related services. Some pharmaceutical companies outsource the manufacturing of products on contracts to focus on the R&D, marketing and branding of their products. The pharmaceutical contract development and manufacturing market consists of manufacturing firms who manufacture drugs and other pharmaceutical products for other pharmaceutical companies on contractual basis. The main types of pharmaceutical contract development and manufacturing organization (CMO) are active pharmaceutical ingredient (API) manufacturing, finished dosage formulation (FDF) development and manufacturing, secondary packaging. The active pharmaceutical ingredient (API) manufacturing includes the manufacturing of the part of any drug that produces the desired effects. The various research phases include preclinical, phase I, phase II, phase III, phase IV. The different end use sectors include big pharmaceutical companies, generic pharmaceutical companies, small & medium-sized pharmaceutical companies. The global pharmaceutical contract development and manufacturing organization (CMO) market size is expected to grow from $114.36 billion in 2021 to $122.31 billion in 2022 at a compound annual growth rate (CAGR) of 7%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while 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 pharmaceutical CMO market is expected to reach $159.94 billion in 2026 at a CAGR of 6.9%. The growth of the pharmaceutical contract development and manufacturing market is driven by the increase in the demand for medicines across the globe. The high prevalence of diseases and the need for a longer lifespan increased the demand for medicines pushing the pharmaceutical companies to increase the production of existing drugs and raise the investment in their R&D to promote the development of new drugs. This impels the pharmaceutical companies to collaborate with contract manufacturing organizations (CMOs) as a way to lower operational costs, thus, increasing the demand in pharmaceutical contract development and manufacturing market. According to Alkermes plc, a biopharmaceutical company indicates that pharmaceutical contract manufacturing will emerge as a strategic option for many companies ranging from very large to smaller specialty pharma entities and this mostly will happen because the pharmaceuticals companies are looking for cost cutting. The pharmaceutical contract development and manufacturing market is restricted by the poor-capacity utilization of manufacturing facilities. The capacity utilization is calculated considering the full potential capacity of the production plant. The poor-capacity utilization of the production plant is caused due to the inefficiency of different sub-processes in the production line which results in low production. The low production output results in low revenue generation for the production unit, affecting the overall pharmaceutical contract development and manufacturing market. For instance, according to a 2019 article by the Trade Promotion Council of India (TPCI) most of the pharmaceutical production units in India run at 30-40% of their capacity. Therefore, the under usage of capacity of production plant negatively affects the pharmaceutical contract development and manufacturing market. The companies in the pharmaceutical contract development and manufacturing market are investing towards acquiring and forming alliances with other companies in the market. The pharmaceutical contract development and manufacturing companies are following the trend of merger and acquisition in order to expand their global market reach to meet the client needs, to increase their production capabilities while maintaining cost efficiencies and to get access to latest technology and new services. The high levels of merger and acquisition activities are resulting in consolidation of the contract service providers. For instance, according to a PricewaterhouseCoopers report, the largest M&A activity in the contract development and manufacturing organization sector was the deal between Thermo Fisher Scientific and Patheon, where the former acquired the latter for $7.2 billion. Also other important acquisitions were Thermo Fisher’s acquisition of Brammer Bio for $1.7 billion in 2019 and PAG’s acquisition of Acme Formulation Pvt Ltd., in 2021 for $145 million. In 2019, Permira Funds, a European equity firm acquired Cambrex Corporation for $2.4 billion. The acquisition is aimed to strengthen and expand the products and services offered by Cambrex Corporation towards the manufacturing of drugs. The Cambrex Corporation is a USA based contract development and manufacturing (CDMO) firm involved with the products and services related to small molecule active pharmaceutical ingredients. Major players in the pharmaceutical contract development and manufacturing market are Recipharm AB, Pfizer Inc., Boehringer Ingelheim International GmbH., Aenova Group, Famar, Jubilant Life Sciences Limited, Catalent Pharma Solutions, Chemicals Limited, Dishman Pharmaceuticals, HAUPT Pharma AG, Kemwell Pvt. Ltd., Nipro Corp., NextPharma, Royal DSM N.V, Althea Technologies, Thermo Fisher Scientific Inc., Lonza Group Ltd, AbbVie Inc., Consort Medical plc, Almac Group, Siegfried Holding AG, Evonik Industries AG and Vetter Pharma International GMBH. North America was the largest region in the pharmaceutical contract development and manufacturing market in 2021. The Middle East is expected to be the fargest growing region in the forecast period. The regions covered in the pharmaceutical contract development and manufacturing organization (CMO) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the pharmaceutical contract development and manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK USA. The global pharmaceutical contract development and manufacturing organization market is segmented - 1) By Type: Active Pharmaceutical Ingredient (API) Manufacturing, Finished Dosage Formulation (FDF) Development and Manufacturing, Secondary Packaging 2) By Research Phase: Preclinical, Phase I, Phase II, Phase III, Phase IV 3) By End-User: Big Pharmaceutical Companies, Generic Pharmaceutical Companies, Small and Medium-Sized Pharmaceutical Companies

The pharmaceutical sterility testing market consists of sales of pharmaceutical sterility testing products and related services which are used to confirm that pharmaceutical products are free from the presence of viable microorganisms. Pharmaceutical sterility tests are procedures for checking the presence of microorganism in biological parenteral which are intended for human use. Pharmaceutical sterility testing is an important process in pharmaceuticals, medical equipment, and drugs manufacturing to assess the effectiveness of a sterilization process and is carried out at all levels of manufacturing to reduce the risk of product contamination. The main types of pharmaceutical sterility testing are in- house and outsourcing. The various types of tests include sterility testing, bioburden testing, bacterial endotoxin testing that are used to test sterile drugs, medical devices, biologics and therapeutics. An in vitro assay for detecting bacterial endotoxins is known as a bacterial endotoxin test. The bacterial endotoxin test detects bacterial endotoxins by lysing blood cells from horseshoe crabs. The different product used are instruments, kits and reagents, services. The global pharmaceutical sterility testing market size is expected to grow from $1.09 billion in 2021 to $1.19 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while 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 pharmaceutical sterility testing market is expected to reach $1.68 billion in 2026 at a CAGR of 8.9%. An increase in the number of drug launches and rising investment in research and development (R&D) contributed to the growth of the pharmaceutical sterility testing market. Sterility is an important step in the manufacture of drugs to avoid product contamination and make the drugs free from any viable microorganism. According to a report published by Fierce Biotech shows that the top ten pharmaceutical companies invested over $82 billion in R&D in 2019. Additionally, according to Pharma and Annual Review 2019 report, 1,273 new drugs were launched in the global market in 2019, a 6.2% increase from the previous year. Increased emphasis on quality and sterility coupled with increasing R&D activities in the pharmaceutical sector and rising production and launch of drug and medical devices is driving the market. Companies in the pharmaceutical testing market are rising new pharmaceutical sterility testing products and services to enhance its product portfolio and increase its presence in the market. The companies are launching technologically superior outcomes and well-equipped services to utilize the growth potential of the rising pharmaceutical sterility market. For instance, in 2019, RSSL started a sterility testing service for pharmaceutical and medical device companies, which gives fast, active, and flexible test services. RSSL’s new sterility testing service includes two methods, membrane filtration for aqueous, ethanol, solution, and oil-based products and direct injection tests for non-soluble to determine the presence of infecting microorganisms in sterilized or aseptic drug products. Similarly, in October 2019, Alcami Corporation, a leading provider of a fully-integrated system for the pharmaceutical and biologics industries, launched a new rapid sterility offering, a service that leverages cutting-edge microbiological testing technology to give significantly faster-testing returns to customers. Major players in the pharmaceutical sterility testing market are Pacific Biolabs, STRERIS Corporation, Boston Analytical, Gibraltar Laboratories, Sartorius AG, SolviasAG, SGS AG, Toxikon Inc., Pace Analytical Services LLC, Charles River Laboratories International Inc, Nelson Laboratories Inc, Rapid Micro Biosystems Inc., BioMerieux, Merck KGaA, Wuxi AppTec, Sotera Health LLC, Dynalabs and Infinity. North America was the largest region in the pharmaceutical sterility testing market in 2021. The Middle East is expected to be the fargest growing region in the forecast period. The regions covered in the pharmaceutical sterility testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the pharmaceutical sterility testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global pharmaceutical sterility testing market is segmented - 1) By Sample: Sterile Drugs, Medical Devices, Biologics and Therapeutics 2) By Product Type: Instruments, Kits and Reagents, Services 3) By Type: In-House, Outsourcing 4) By Test Type: Sterility Testing, Bioburden Testing, Bacterial Endotoxin Testing 5) By End-User: Compounding Pharmacies, Medical Devices Companies, Pharmaceutical Companies

Pharmaceutical Drugs And Biologics Logistics Market Definition

The pharmaceutical drugs and biologics market consists of sales of pharmaceutical drugs and biologics logistics services by entities (organizations, sole traders and partnerships) that provide pharmaceutical drugs and biologics logistics services. Pharmaceutical drugs and biologics logistics is the logistics of pharmaceutical and biologic drugs from the manufacturer to the end-user. It includes transportation, warehousing, inventory management and other logistics functions.

The pharmacies and drug stores market consists of establishments involved in sales of prescription and over-the-counter medications, health and beauty items, toiletries, and consumable goods directly to consumers. Industry companies may also provide basic health and photo processing services. The pharmacies and Drug stores consist of establishments that are concerned with branded prescription drugs, generic drugs, non-prescription medicines, personal health supplies, groceries and food items, vitamins, minerals, dietary supplements, cosmetics, and others. The main drug types of pharmacies and drug stores are prescription drugs and otc drugs. Prescription drugs refer to a drug that is obtained only using a physician's prescription. The various types involved are community pharmacy, hospital pharmacy, clinical pharmacy, industrial pharmacy, compounding pharmacy, consulting pharmacy, ambulatory care pharmacy, regulatory pharmacy, and home care pharmacy. The different product types included are skincare, cold and flu, dental, weight loss, vitamins, and other product types. The global pharmacies and drug stores market size is expected to grow from $1,036.92 billion in 2021 to $1,144.91 billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The global pharmacies and drug store market size is expected to grow to $1,614.21 billion in 2026 at a CAGR of 9%. The growing aging population and increasing health consciousness among the global populace are likely to drive the pharmacies and drug stores market. The geriatric population is more vulnerable to acquiring several diseases that increase the dependence on pharmacies and drug stores indirectly affecting the market. According to the Global Health and Aging report, the number of people aged 65 or older is projected to grow to nearly 1.5 billion in 2050, with most of the increase in developing countries. Certain health conditions are expected to be a challenge to our health care system with the increasing aging population. These conditions include cancer, dementia, an increase in the number of falls, obesity, and diabetes. Due to the increasing aging population, the number of cases is expected to increase, thus providing a growing customer base for pharmacies and drug stores. Rapidly increasing cost pressures from regulatory agencies and payers will restrain the pharmacies and drug stores market. Government budgetary pressures are leading to lower pharmacy compensation for most countries with public health care. The consolidation of pharmacy benefit management firms in the U.S. has worked similarly, driving lower costs and margins and shifting prescription volumes to delivery of direct or mail orders. Governments would be the largest healthcare payer in virtually every country. This, in turn, creates increased pressure on taxpayers and government spending, with consequent pharmaceutical effects. These factors are expected to have a negative impact on the pharmacies and drug stores market as increasing cost pressures from regulatory agencies and affect the market’s growth. Working long hours and drive-through locations are the major factors to increase the Pharmacies and Drugstores market growth. As competition has increased from mass merchandisers and supermarkets, as well as from direct mail prescription services, drug stores have been adding value in the form of 24-hour operations and drive-through pharmacies. The US Pharmacy Study measures customer satisfaction with their pharmacy experience across major chain drug stores, mass merchandisers, supermarkets, and mail-order pharmacies. The study shows that retail pharmacy businesses continue to shine when it comes to engaging patient-centric services that drive satisfaction. These convenience factors anticipate the growth of pharmacies and the drugstore market. In January 2021, AmerisourceBergen Corporation, a US-based drug wholesale company acquired Walgreens Boots Alliance, Inc for the amount of $6.275 billion in cash and 2 million shares of AmerisourceBergen common stock. acquisition of Alliance Healthcare will be providing even stronger support for pharmacies and pharmacists across the world and integrated solutions for pharmaceutical manufacturers. Walgreens Boots Alliance, Inc is a US-based holding company that owns the retail pharmacy chains, manufacturing of pharmaceutical and distribution companies. Major players in the pharmacies and drug stores market are Walgreens Boots (WBA), CVS Health (CVS), Rite Aid (RAD), MedPlus, Rexall, Shoppers Drug Mart, Grupo Casa Saba, China Nepstar, AS Watson, and Matsumoto Kiyoshi. Asia Pacific was the largest region in the pharmacies and drug stores market in 2021. North America was the second-largest region in the global drug stores and pharmacies market. The regions covered in the global pharmacies and drug stores market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the pharmacies and drug stores market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global pharmacies and drug stores market is segmented - 1) By Drug Type: Prescription Drugs, OTC Drugs 2) By Type: Community Pharmacy, Hospital Pharmacy, Clinical Pharmacy, Industrial Pharmacy, Compounding Pharmacy, Consulting Pharmacy, Ambulatory Care Pharmacy, Regulatory Pharmacy, Home Care Pharmacy 3) By Product Type: Skin Care, Cold and Flu, Dental, Weight Loss, Vitamins, Others