Executive Summary The global pharmaceutical retail market is estimated to be worth USD 575.12 billion in 2020. The pharmaceutical retail market is expected to grow at an accelerated rate due to the rise of chronic diseases in the world. world and intense competition between market players.
New York, August 03, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Global Pharmacy Retail Market – Analysis By Type (Prescription Drugs, OTC Drugs), Distribution Channel, By Region, By Country (2021 Edition): Market overview and forecast with the impact of Covid-19 (2021-2026) “- https://www.reportlinker.com/p06126598/?utm_source=GNW
Changing disease profiles, innovative marketing strategies, the introduction of new business models and the upsurge in hospital pharmacies and wellness stores are expected to drive pharmaceutical retail sales in the future. The increasing incidence of chronic diseases like hypertension, diabetes, cardiovascular disease and cancer, which require prolonged medication, is expected to further drive the growth of the pharmacy retail market during the forecast period.
With the increase in public health spending, pharmaceuticals have become more accessible, thus facilitating the pharmacy retail market, especially in rural areas and level II cities. In addition, the launch of various patented drugs by international pharmaceutical companies has resulted in a gradual increase in sales of pharmaceutical products. The increasing incidence of chronic diseases like hypertension, diabetes, cardiovascular disease and cancer, which require prolonged medication, is expected to further drive the growth of the pharmacy retail market during the forecast period.
Several factors are supporting the growth of the global and North American pharmacy retail market. Some of the major factors among them are increasing availability of over-the-counter drugs, increasing prevalence of chronic diseases, increasing consumer health spending, increasing demand for e-commerce sites, growing annual income of the population , the growing number of geriatric establishments. favorable population and government regulations. In Asia-Pacific, the retail pharmacy services market is expected to grow at the fastest rate from 2021 to 2026. This strong growth is due to growing unmet medical needs.
The COVID-19 pandemic has accelerated the growth of traditional pharmacy outlets as well as online pharmacy channels. Globally, medical retail outlets have been categorized as essential services, but online pharmacies have become the fastest growing channel for purchasing drugs and devices due to fear virus. Driven by the various waves of COVID-19, the online pharmacy industry has seen an increase in orders for medical devices, personal protective equipment, health supplements and common drugs.
Scope of the report
• The report presents the analysis of the retail pharmacy market for the historical period 2016-2020 and the forecast period 2021-2026.
• The report analyzes the retail pharmacy market by value (in billions of dollars).
• The report analyzes the pharmacy retail market by distribution channel (brick and mortar pharmacy and online pharmacy).
• The report analyzes the pharmacy retail market by type (prescription drugs and over the counter drugs).
• The global retail pharmacy market was analyzed by region (North America Europe, Asia-Pacific, LAMEA) by country (United States, Canada, Germany, United Kingdom, France, Switzerland, Italy, China, Japan and India).
• Key information in the report has been presented through market attractiveness frameworks has been presented by region, by distribution channel, by type.
• In addition, the major opportunities, trends, drivers and challenges of the industry have been analyzed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions, and new product development. Companies analyzed in the report include Abbott Walgreens Boots Alliance, Ahold Dalhaize, Merck KGaA, Sanofi, GlaxoSmithKline, Novo Nordisk, Cipla, Loblaw, Albertsons Companies, Inc., CVS Pharmacy, Rite Aid.
Key target audience
• Retail pharmacy companies
• Healthcare and pharmaceutical companies
• Consulting and consulting firms
• Government and decision-makers
• Regulatory authorities
Read the full report: https://www.reportlinker.com/p06126598/?utm_source=GNW
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