November 22, 2019
According to the latest study titled ‘Global Pharmaceutical Retail Market: Analysis By Type (Independent Retailers, Pharmacy Chain), Market Share, By Region, By Country: Opportunities and Forecasts (2018-2023) - By Region (N. America, Europe, APAC, ROW), By Country (U.S., Canada, Germany, UK, India, China, Japan)’ available at MarketStudyReport.com, the global pharmaceutical retail market is estimated to grow with a CAGR of 4.94% through the year 2023.
The global pharmaceutical retail market is propelled by factors such as rising instances of chronic diseases among the global population, changing disease profiles, effective marketing strategies, new business models. Surge in hospital-based pharmacies along with numerous wellness stores will further augment the market growth.
The study examines pharmaceutical retail market for revenue shares of each segment and offers information about the growth patterns. It analyses the competitive landscape of market using SWOT analysis and Porter’s Five Force analysis methods. Information about the market dynamics influencing the industry growth are also given in the report.
Based on type, pharmaceutical retail market is segmented into organized chains, standalone/independent stores, and others. The report cites that organized chains segment will gain lucrative growth opportunities during the analysis period, on account of various convenience services offered by these stores, such as patient charge accounts, same-day home delivery, durable medical goods, immunizations, compounding, maintaining health record of patient, and e-prescribing.
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Considering the regional landscape, the global pharmaceutical retail market is bifurcated into regions including Europe, North America, APAC, and rest of world. As per the report, North America pharmaceutical retail market held the largest share in 2018, owing to increasing medical expenditure, rising awareness about various respiratory diseases, such as COPD and asthma, and shifting consumer preference for high quality medicines across the region.
Some of the vendors that operate in the global pharmaceutical retail market are Walgreens Boots Alliance, CVS Health, Nepstar, Rossmann, Albertsons, Jean Coutu, and Rite Aid.
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