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Canada Retail Pharmacy Market

Canada Retail Pharmacy Market By Type of Pharmacy (Chain Pharmacies, Independent Pharmacies, Hospital Pharmacies, Mail Order Pharmacies, Online Pharmacies); By Type of Prescription (Prescription Drugs [Rx], Over-the-Counter [OTC] Drugs); By Service Offered (Medication Dispensing, Health Screenings, Vaccination Services, Consultation and Counseling, Chronic Disease Management); By Product Type (Generic Drugs, Branded Drugs); By Application (Oncology, Diabetes, Neurology, Other) – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Summary
Table Of Content

REPORT ATTRIBUTE	DETAILS
Historical Period	2020-2023
Base Year	2024
Forecast Period	2025-2032
Canada Retail Pharmacy Market Size 2024	SD 39,810.35 million
Canada Retail Pharmacy Market, CAGR	3.08%
Canada Retail Pharmacy Market Size 2032	USD 50,732.50 million

Market Overview

The Canada Retail Pharmacy Market is projected to grow from USD 39,810.35 million in 2024 to an estimated USD 50,732.50 million by 2032, with a compound annual growth rate (CAGR) of 3.08% from 2025 to 2032. This growth is driven by factors such as an aging population, increasing prevalence of chronic diseases, and rising demand for healthcare services.

Key drivers of the market include the expanding geriatric population, which necessitates more frequent medication use, and the increasing incidence of chronic conditions like diabetes, hypertension, and arthritis. Additionally, advancements in digital health technologies, such as telepharmacy and online prescription services, are enhancing accessibility and convenience for consumers. The integration of these technologies is expected to further propel market growth by improving patient engagement and medication adherence.

Geographically, the retail pharmacy market is concentrated in urban centers across Canada, with provinces like Ontario and Quebec housing the majority of retail pharmacy outlets. Major players in the market include McKesson Canada, Shoppers Drug Mart (a subsidiary of Loblaw Companies), and Jean Coutu Group (operated by Metro Inc.). These companies dominate the market through extensive networks of retail locations and a broad range of pharmacy services, positioning them as key contributors to the sector’s growth.

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Market Insights

The Canada Retail Pharmacy Market is projected to grow from USD 39,810.35 million in 2024 to USD 50,732.50 million by 2032, at a CAGR of 3.08% from 2025 to 2032.
The Global Retail Pharmacy Market is expected to grow from USD 14,45,920.00 million in 2024 to USD 19,65,958.05 million by 2032, at a CAGR of 3.92% from 2025 to 2032.
The increasing aging population is driving demand for prescription medications and healthcare services, contributing significantly to market growth.
The rising prevalence of chronic diseases such as diabetes, hypertension, and arthritis is boosting the need for long-term medication management, expanding the retail pharmacy market.
Advancements in telepharmacy and online prescription services are improving accessibility and convenience, leading to greater market adoption and growth.
Ongoing regulatory changes and reimbursement pressures on pharmacies can limit profitability and operational flexibility, posing challenges to market players.
Ontario and Quebec hold the largest market shares, driven by urbanization, population density, and high demand for pharmaceutical services in these provinces.
Smaller provinces and rural areas are witnessing growth through digital solutions like mail-order and online pharmacies, which are enhancing accessibility and service delivery.

Report Scope

This report segments the Canada Retail Pharmacy Market as follows:

Market Drivers

Advancements in Digital Health Technologies

The integration of digital health technologies within the retail pharmacy market has created new opportunities for growth. With the rise of telemedicine, online pharmacy services, and the digitalization of prescription processes, Canadian consumers are increasingly seeking more convenient and accessible ways to manage their health needs. Telepharmacy, which allows patients to consult with pharmacists remotely, has become more widespread, particularly in rural areas where access to physical pharmacy locations can be limited. Digital prescriptions, the ability to request refills online, and the rise of e-commerce platforms offering OTC medications have revolutionized how consumers engage with retail pharmacies. Furthermore, the introduction of mobile applications that help consumers track their prescriptions, monitor medication adherence, and receive health reminders has become a vital tool in patient care. These technologies not only provide added convenience for consumers but also enhance the operational efficiency of pharmacies, enabling them to better serve a growing customer base. Pharmacies can now reach a broader demographic, reducing barriers such as location or time constraints, and increase customer engagement. As consumers continue to prioritize digital convenience, retail pharmacies are positioned to capitalize on these advancements to cater to an increasingly tech-savvy market.

Government Support for Healthcare Services

Government initiatives and regulations aimed at improving access to healthcare services and controlling drug costs have also contributed to the growth of the retail pharmacy market in Canada. The Canadian government has made significant investments in public healthcare, which has expanded access to essential services, including pharmaceutical care. Policies like the universal healthcare system, which covers many of the basic healthcare needs of Canadians, support the availability of medications at affordable prices through government-subsidized drug programs such as the Ontario Drug Benefit Program and the BC PharmaCare program. These programs help reduce the financial burden on consumers, encouraging regular pharmaceutical visits. Additionally, government-backed public health campaigns promoting wellness and preventive care have led to a higher demand for OTC products. For example, efforts to combat the flu season through public vaccination campaigns or campaigns for smoking cessation have led to a surge in sales of flu medications and nicotine replacement products. Government regulations also play a crucial role in ensuring that pharmacies maintain high standards of care, quality control, and ethical practices, fostering public trust in retail pharmacy services. This growing consumer confidence, bolstered by governmental support, is expected to continue driving the growth of the retail pharmacy market in Canada.

Aging Population and Increased Healthcare Needs

Canada’s aging population is a primary driver of the retail pharmacy market. According to Statistics Canada, the population aged 65 and older is expected to represent over 25% of the total population by 2030, marking a substantial increase from current levels. This demographic often faces multiple chronic conditions such as diabetes, cardiovascular diseases, and arthritis, which necessitate regular medication and healthcare management. For instance, treatments for Alzheimer’s disease, mobility aids, and chronic pain management are increasingly in demand among older adults. Pharmacists are becoming essential healthcare providers, not just for dispensing medication, but also for offering personalized health management services such as medication therapy management (MTM). These services allow pharmacies to play a more integral role in the management of chronic conditions, fostering consumer loyalty and contributing to market growth.

Prevalence of Chronic Diseases

The growing burden of chronic diseases is another significant factor driving the expansion of the retail pharmacy market in Canada. Chronic conditions, such as diabetes, hypertension, and respiratory diseases, are becoming more prevalent due to lifestyle changes, including poor diet, lack of physical activity, and rising obesity rates. The Canadian Chronic Disease Surveillance System reports that nearly 50% of Canadians aged 20 and older have at least one chronic condition. For instance, long-term medication management for diabetes and hypertension often requires regular prescriptions, medication refills, and drug counseling. Chronic disease management also often necessitates frequent visits to pharmacies for medication adjustments, dosage monitoring, and health consultations. This regular interaction with pharmacists enhances patient adherence to prescribed treatment regimens, making retail pharmacies an indispensable part of managing chronic health issues. As healthcare providers look to improve patient outcomes, pharmacies are expanding their services to include flu vaccine administration, blood pressure monitoring, and diabetes screenings, further supporting the sustained demand for prescription drugs and OTC products tailored to chronic conditions.

Market Trends

Increasing Role of Pharmacists in Chronic Disease Management

Pharmacists in Canada are increasingly recognized for their role in chronic disease management. As the prevalence of chronic conditions like diabetes, hypertension, and cardiovascular diseases rises, pharmacists are playing a critical role in managing these diseases by providing medication counseling, monitoring patient adherence, and offering lifestyle advice. Many retail pharmacies are expanding their services to include comprehensive medication therapy management (MTM), where pharmacists assess a patient’s entire medication regimen and provide guidance on how to optimize treatment. This trend is driving greater collaboration between pharmacists, physicians, and other healthcare providers to ensure holistic care for patients. By enhancing their role in chronic disease management, pharmacists help improve patient outcomes and reduce the overall burden on the healthcare system, positioning retail pharmacies as essential players in the healthcare delivery model.

Emphasis on Sustainability and Eco-Friendly Practices

Sustainability has become an important trend in the Canadian retail pharmacy market, driven by both consumer demand and regulatory pressures. Pharmacies are increasingly adopting eco-friendly practices, from reducing plastic waste by offering reusable bags to implementing more energy-efficient store designs. Additionally, many retail pharmacies are shifting towards sustainable packaging for their OTC products and prescription medications. This move not only aligns with growing environmental concerns but also responds to the expectations of environmentally conscious consumers. Green initiatives, such as the recycling of pharmaceutical waste and the use of renewable energy sources in pharmacy operations, are becoming more prevalent. Furthermore, some pharmacies are expanding their product lines to include organic and eco-friendly health products, catering to consumers who prioritize sustainability in their purchasing decisions. This trend is expected to continue as both consumers and businesses embrace environmentally responsible practices.

Growth of Online Pharmacy Services

The Australian retail pharmacy market is increasingly witnessing a shift towards digital platforms. With the rise of e-commerce, more consumers are turning to online pharmacies for convenience, competitive pricing, and accessibility. For instance, during the COVID-19 pandemic, online pharmacy services in Australia saw a significant surge, with some platforms reporting a 200% increase in orders for prescription medications and health products. Retail pharmacies are responding by enhancing their digital infrastructure and offering services like e-prescriptions, online consultations, and automated prescription refills. Furthermore, the integration of mobile applications for managing medications, booking appointments, and tracking health metrics is further boosting the growth of online pharmacy services. This trend is expected to continue, with a rising number of pharmacies adopting e-commerce models to meet consumer demand for flexibility and convenience.

Expansion of Health and Wellness Offerings

The growing demand for health and wellness products is another prominent trend in Australia’s retail pharmacy market. Consumers are becoming increasingly health-conscious, seeking out products that contribute to long-term well-being and prevent the onset of chronic diseases. For example, sales of vitamins and supplements in Australian pharmacies increased by approximately 15% in the past year, reflecting the rising interest in preventive health solutions. Pharmacies are also incorporating fitness-related products like fitness trackers, sports nutrition, and personal care items into their offerings. The demand for holistic health solutions, which focus on both physical and mental well-being, is driving this expansion, and retail pharmacies are positioning themselves as one-stop shops for all health-related needs.

Market Challenges

Regulatory and Reimbursement Pressures

One of the key challenges facing the Australian retail pharmacy market is the intense price competition, particularly in an environment of rising operational costs and margin pressures. Pharmacies are faced with the challenge of maintaining profitability while offering competitive pricing to attract consumers. The growing popularity of online pharmacies has intensified price competition, as these platforms often provide lower prices and the convenience of home delivery. Traditional brick-and-mortar pharmacies are struggling to compete with these online services, especially in a market where consumers are increasingly price-sensitive and value-driven. Additionally, the Pharmaceutical Benefits Scheme (PBS) in Australia, which provides subsidized prices for certain prescription medications, creates pressure on pharmacies to adjust their pricing strategies while managing government regulations. The pricing structure in the Australian retail pharmacy market is tightly regulated, and as a result, pharmacies have limited flexibility in setting prices for prescription drugs, which affects their profit margins. This challenge is compounded by increasing operational expenses, including rent, wages, and the cost of technology adoption. For instance, Australian pharmacies, on average, spend approximately $200,000 annually on wages, reflecting the high cost of retaining staff in the sector. These factors make it difficult for pharmacies to sustain high-profit margins. As a result, retail pharmacies are forced to find innovative ways to differentiate themselves, such as by offering additional services or expanding their product range, in order to maintain customer loyalty and competitiveness.

Competition from E-Pharmacies and Online Healthcare Platforms

The rise of e-pharmacies and online healthcare platforms represents another significant challenge for the Canada Retail Pharmacy Market. With the growing demand for convenience, many consumers are turning to online platforms to purchase medications and health products, bypassing traditional brick-and-mortar pharmacies. E-pharmacies offer the advantage of home delivery, competitive pricing, and 24/7 accessibility, making them a preferred choice for tech-savvy consumers, especially in urban areas where consumers have more access to digital health services. The COVID-19 pandemic accelerated this shift, as people became more accustomed to shopping for medications online and using telehealth services for consultations. While traditional retail pharmacies have adapted by establishing their own online services and expanding their digital presence, they continue to face stiff competition from e-pharmacies that often have lower overhead costs and more streamlined operations. Furthermore, large online retailers like Amazon have entered the healthcare space, providing additional competition for local pharmacies. To stay competitive, traditional retail pharmacies must invest in digital technologies such as telepharmacy services, e-prescriptions, and user-friendly online platforms. Additionally, offering personalized services, such as medication therapy management and health consultations, can help retail pharmacies differentiate themselves. However, this requires significant investment and strategic planning, making it a challenge for smaller, independent pharmacies to keep pace with the digital transformation of the industry. The continued rise of online competitors poses a long-term challenge to traditional retail pharmacy models, compelling them to innovate or risk losing market share.

Market Opportunities

Expansion of Health and Wellness Services

One of the key market opportunities in the Canada Retail Pharmacy Market lies in the expansion of health and wellness services. As consumers become more health-conscious and proactive in managing their well-being, pharmacies have the opportunity to diversify their offerings beyond traditional prescription dispensing. Retail pharmacies can expand their role as healthcare hubs by offering services such as immunizations, cholesterol screenings, blood pressure monitoring, and chronic disease management programs. These services not only enhance customer engagement but also provide additional revenue streams. Moreover, pharmacies can cater to the growing demand for preventive care, which is becoming increasingly important as Canada’s aging population seeks solutions to manage long-term health. The integration of wellness programs into pharmacy offerings can also strengthen customer loyalty, as patients often prefer pharmacies that provide a one-stop solution for both healthcare and personal well-being. By investing in wellness services, retail pharmacies can tap into the expanding demand for non-prescription health products, including vitamins, dietary supplements, and natural health remedies, further broadening their product portfolio.

Adoption of Digital Health Solutions

Another significant market opportunity for retail pharmacies in Canada is the adoption of digital health solutions. The increasing reliance on technology for healthcare management presents an opportunity for pharmacies to enhance service delivery through online platforms, telepharmacy, and digital prescription management. With more Canadians seeking convenient, accessible healthcare, retail pharmacies can offer home delivery services for medications, online prescription refills, and virtual consultations with pharmacists. Additionally, integrating technologies such as AI-driven medication reminders, health tracking apps, and e-prescriptions can improve patient adherence to prescribed treatments, driving long-term customer relationships. The rise of digital health also supports pharmacy business models in underserved areas, where access to physical stores may be limited. As the demand for digital health services continues to grow, retail pharmacies that embrace these technologies are well-positioned to capture market share and deliver enhanced, convenient healthcare services.

Market Segmentation Analysis

By Type of Pharmacy

The Canada Retail Pharmacy Market is segmented by the type of pharmacy, including chain pharmacies, independent pharmacies, hospital pharmacies, mail-order pharmacies, and online pharmacies. Chain pharmacies dominate the market, benefiting from established networks, brand recognition, and economies of scale. These pharmacies have widespread locations across urban and rural areas, which enables them to reach a broad customer base. Independent pharmacies, while smaller in scale, offer personalized services and cater to local communities, often fostering long-term relationships with their customers. Hospital pharmacies primarily serve in-patients and outpatients within the hospital setting but are also expanding their retail pharmacy services to patients who require chronic disease management and specialized medications. Mail-order pharmacies cater to customers who prefer home delivery of medications, particularly those with chronic conditions requiring regular prescriptions. Online pharmacies have gained significant traction due to the growing demand for convenience, with many Canadians opting for the ease of ordering medications and health products online. These pharmacies also allow consumers to access digital consultations and telepharmacy services, further fueling their market growth.

By Type of Prescription

The retail pharmacy market in Canada is further segmented based on the type of prescription, including prescription drugs (Rx) and over-the-counter (OTC) drugs. Prescription drugs are a significant segment, as they are often used to treat chronic conditions such as diabetes, hypertension, and heart disease, which require ongoing management. The demand for prescription drugs is driven by Canada’s aging population and the increasing prevalence of chronic diseases. OTC drugs, on the other hand, are widely purchased by consumers for self-care and preventive healthcare. The rising trend of self-medication, coupled with growing awareness of health conditions, has boosted the demand for OTC drugs such as pain relievers, cold medications, and dietary supplements. Both segments are critical to the growth of retail pharmacies, with prescription drugs contributing significantly to revenue, while OTC drugs provide a substantial consumer base seeking convenience and ease of purchase.

Segments

Based on Type of Pharmacy

Chain Pharmacies
Independent Pharmacies
Hospital Pharmacies
Mail Order Pharmacies
Online Pharmacies

Based on Type of prescription

Prescription Drugs (Rx)
Over-the-Counter (OTC) Drugs

Based on Service offered

Medication Dispensing
Health Screenings
Vaccination Services
Consultation and Counseling
Chronic Disease Management

Based on Product Type

Generic Drugs
Branded Drugs

Based on Application

Oncology
Diabetes
Neurology
Other

Based on Customer

Paediatric
Adults
Geriatric

Based on Region

Ontario
Quebec
British Columbia

Regional Analysis

Ontario (38%)

Ontario holds the largest market share in the Canada Retail Pharmacy Market, contributing approximately 38% of the total market revenue. This is due to the province’s large population, urbanization, and healthcare infrastructure, which includes a significant number of retail pharmacy outlets. Ontario’s retail pharmacies benefit from a high demand for both prescription and over-the-counter (OTC) medications, bolstered by the province’s aging population and the increasing prevalence of chronic diseases. The province also has a large proportion of consumers who seek health and wellness services, further expanding the market. With strong competition among chain pharmacies like Shoppers Drug Mart and Rexall, as well as independent pharmacies, Ontario remains a key player in driving overall market growth.

Quebec (27%)

Quebec follows closely, contributing approximately 27% to the total market. The province has a unique demographic makeup with a large French-speaking population, and retail pharmacies in Quebec cater to both the linguistic and healthcare needs of this diverse group. Quebec’s healthcare system also promotes the use of generic drugs and preventive health services, which fuels demand for both prescription and OTC medications. The province’s pharmacies are increasingly adopting digital technologies, such as telepharmacy services, to enhance convenience for consumers, particularly in remote areas. Retail pharmacies in Quebec face competition from both national chains and regional players, which drives innovation and service quality.

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Key players

McKesson Canada
Shoppers Drug Mart Corporation
Costco Pharmacy
Walmart Pharmacy
Kroger Pharmacy

Competitive Analysis

The Canada Retail Pharmacy Market is highly competitive, with several key players vying for market share through diverse service offerings and strategic expansions. McKesson Canada stands as one of the leading players, offering a broad portfolio of prescription drugs and healthcare services across the country. Their extensive distribution network and focus on digital solutions for pharmacies help strengthen their market position. Shoppers Drug Mart Corporation, a subsidiary of Loblaw Companies, is another dominant player, recognized for its wide range of healthcare services and strong retail presence. Costco Pharmacy and Walmart Pharmacy are significant competitors, offering competitive pricing and leveraging their large retail networks to attract a wide customer base. Both have successfully integrated pharmacy services into their overall shopping experience, driving consumer traffic. Kroger Pharmacy, known for its strong brand in North America, is expanding its footprint in Canada, focusing on improving customer engagement through personalized pharmacy services. Together, these players are reshaping the Canadian pharmacy landscape through innovations in service delivery, product offerings, and customer experience.

Recent Developments

As of March 31, 2024, Apollo Pharmacy operated 6,030 stores across approximately 1,200 cities and towns in 22 states and 5 union territories. The company continues to expand its digital healthcare platform, offering services like online medicine delivery and virtual doctor consultations.

In October 2024, Caring Pharmacy Retail Management Sdn Bhd, a 75%-owned unit of 7-Eleven Malaysia Holdings Bhd, announced acquisitions of equity interest and business assets in several pharmaceutical outlets for a combined cash consideration of RM48.86 million.

In June 2024, the Australian Competition and Consumer Commission (ACCC) expressed concerns that the proposed acquisition of Chemist Warehouse by Sigma Healthcare could substantially lessen competition in pharmacy retailing, potentially leading to higher prices and reduced service quality.

In January 2025, Watsons Philippines ended 2024 with 1,166 stores, expanding its community pharmacy format. The company opened more than 50 stores outside of Metro Manila.

Market Concentration and Characteristics

The Canada Retail Pharmacy Market is moderately concentrated, with several dominant players controlling a significant share of the market. Key players such as McKesson Canada, Shoppers Drug Mart, and Costco Pharmacy hold a substantial portion of the market, benefiting from their extensive networks, brand recognition, and competitive pricing strategies. These companies are able to leverage economies of scale, offering a wide range of products and services, from prescription medications to health screenings and vaccinations. Independent pharmacies, although smaller in scale, contribute to the market by providing personalized services and catering to local communities. The market is also characterized by a growing trend toward digital transformation, with many pharmacies adopting e-commerce platforms, telepharmacy services, and home delivery options to enhance convenience and accessibility. The increasing presence of online pharmacies and digital health services is further intensifying competition, driving innovation, and shaping the future landscape of the market.

Report Coverage

The research report offers an in-depth analysis based on Type of Pharmacy, Type of prescription, Service offered, Product Type, Application, Customer and Region. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

The adoption of digital health solutions, including online pharmacies and telepharmacy, will continue to expand. Consumers increasingly seek the convenience of onlineordering, prescription refills, and virtual consultations.

Retail pharmacies will increasingly diversify their service offerings to include health screenings, immunizations, and chronic disease management. This shift will drive growth as pharmacies become more integrated into preventative healthcare.

Canada’s aging demographic will continue to contribute to the growing demand for prescription medications. Older adults are more likely to suffer from chronic conditions, necessitating long-term pharmaceutical care.
As cost-conscious consumers and healthcare providers turn to generic drugs, their market share will rise. Generic medications provide an affordable alternative to branded drugs, helping to manage the increasing healthcare costs.

The integration of AI-driven solutions for medication management and personalized services will enhance customer engagement. AI will improve prescription adherence and optimize inventory management in pharmacies.

With a growing focus on health and wellness, pharmacies will expand their role in preventive care. Services such as vaccinations and health screenings will become more common, contributing to a broader customer base.

Evolving regulatory policies related to drug pricing and healthcare services will impact retail pharmacies. Companies must adapt to new regulations around pricing, reimbursements, and service delivery to remain competitive.

The rise of e-pharmacies will continue to pose a challenge to traditional retail pharmacies. With increasing consumer preference for convenience, established pharmacies must innovate to maintain market share.

Ongoing reforms in healthcare insurance and drug coverage policies will directly affect consumer spending on pharmacy services. Retail pharmacies will need to adjust their offerings to align with changing reimbursement structures.

As environmental concerns rise, pharmacies will focus on adopting sustainable practices. Green initiatives such as reducing plastic waste and using eco-friendly packaging will become essential to meet consumer expectations and regulatory demands.

CHAPTER NO. 1 : INTRODUCTION 19

1.1.1. Report Description 19

Purpose of the Report 19

USP & Key Offerings 19

1.1.2. Key Benefits for Stakeholders 19

1.1.3. Target Audience 20

1.1.4. Report Scope 20

CHAPTER NO. 2 : EXECUTIVE SUMMARY 21

2.1. Canada Retail Pharmacy Market Snapshot 21

2.1.1. Canada Retail Pharmacy Market, 2018 – 2032 (USD Million) 22

CHAPTER NO. 3 : CANADA RETAIL PHARMACY MARKET – INDUSTRY ANALYSIS 23

3.1. Introduction 23

3.2. Market Drivers 24

3.2.1. Increasing Health Awareness 24

3.2.2. Growing E-Commerce and Online Pharmacies 25

3.3. Market Restraints 26

3.3.1. Regulatory and Pricing Controls 26

3.4. Market Opportunities 27

3.4.1. Market Opportunity Analysis 27

3.5. Porter’s Five Forces Analysis 28

CHAPTER NO. 4 : ANALYSIS COMPETITIVE LANDSCAPE 29

4.1. Company Market Share Analysis – 2024 29

4.1.1. Canada Retail Pharmacy Market: Company Market Share, by Volume, 2024 29

4.1.2. Canada Retail Pharmacy Market: Company Market Share, by Revenue, 2024 30

4.1.3. Canada Retail Pharmacy Market: Top 6 Company Market Share, by Revenue, 2024 30

4.1.4. Canada Retail Pharmacy Market: Top 3 Company Market Share, by Revenue, 2024 31

4.2. Canada Retail Pharmacy Market Company Revenue Market Share, 2024 32

4.3. Company Assessment Metrics, 2024 33

4.3.1. Stars 33

4.3.2. Emerging Leaders 33

4.3.3. Pervasive Players 33

4.3.4. Participants 33

4.4. Start-ups /SMEs Assessment Metrics, 2024 33

4.4.1. Progressive Companies 33

4.4.2. Responsive Companies 33

4.4.3. Dynamic Companies 33

4.4.4. Starting Blocks 33

4.5. Strategic Developments 34

4.5.1. Acquisitions & Mergers 34

New Product Launch 34

Regional Expansion 34

4.6. Key Players Product Matrix 35

CHAPTER NO. 5 : PESTEL & ADJACENT MARKET ANALYSIS 36

5.1. PESTEL 36

5.1.1. Political Factors 36

5.1.2. Economic Factors 36

5.1.3. Social Factors 36

5.1.4. Technological Factors 36

5.1.5. Environmental Factors 36

5.1.6. Legal Factors 36

5.2. Adjacent Market Analysis 36

CHAPTER NO. 6 : CANADA RETAIL PHARMACY MARKET – BY TYPE OF PHARMACY SEGMENT ANALYSIS 37

6.1. Canada Retail Pharmacy Market Overview, by Type of Pharmacy Segment 37

6.1.1. Canada Retail Pharmacy Market Revenue Share, By Type of Pharmacy, 2023 & 2032 38

6.1.2. Canada Retail Pharmacy Market Attractiveness Analysis, By Type of Pharmacy 39

6.1.3. Incremental Revenue Growth Opportunity, by Type of Pharmacy, 2024 – 2032 39

6.1.4. Canada Retail Pharmacy Market Revenue, By Type of Pharmacy, 2018, 2023, 2027 & 2032 40

6.2. Chain Pharmacies 41

6.3. Independent Pharmacies 42

6.4. Hospital Pharmacies 43

6.5. Mail Order Pharmacies 44

6.6. Online Pharmacies 45

CHAPTER NO. 7 : CANADA RETAIL PHARMACY MARKET – BY TYPE OF PRESCRIPTION SEGMENT ANALYSIS 46

7.1. Canada Retail Pharmacy Market Overview, by Type of Prescription Segment 46

7.1.1. Canada Retail Pharmacy Market Revenue Share, By Type of Prescription, 2023 & 2032 47

7.1.2. Canada Retail Pharmacy Market Attractiveness Analysis, By Type of Prescription 48

7.1.3. Incremental Revenue Growth Opportunity, by Type of Prescription, 2024 – 2032 48

7.1.4. Canada Retail Pharmacy Market Revenue, By Type of Prescription, 2018, 2023, 2027 & 2032 49

7.2. Prescription Drugs (Rx) 50

7.3. Over-the-Counter (OTC) Drugs 51

CHAPTER NO. 8 : CANADA RETAIL PHARMACY MARKET – BY SERVICE OFFERED SEGMENT ANALYSIS 52

8.1. Canada Retail Pharmacy Market Overview, by Service Offered Segment 52

8.1.1. Canada Retail Pharmacy Market Revenue Share, By Service Offered, 2023 & 2032 53

8.1.2. Canada Retail Pharmacy Market Attractiveness Analysis, By Service Offered 54

8.1.3. Incremental Revenue Growth Opportunity, by Service Offered, 2024 – 2032 54

8.1.4. Canada Retail Pharmacy Market Revenue, By Service Offered, 2018, 2023, 2027 & 2032 55

8.2. Medication Dispensing 56

8.3. Health Screenings 57

8.4. Vaccination Services 58

8.5. Consultation and Counseling 59

8.6. Chronic Disease Management 60

CHAPTER NO. 9 : CANADA RETAIL PHARMACY MARKET – BY PRODUCT TYPE SEGMENT ANALYSIS 61

9.1. Canada Retail Pharmacy Market Overview, by Product Type Segment 61

9.1.1. Canada Retail Pharmacy Market Revenue Share, By Product Type, 2023 & 2032 62

9.1.2. Canada Retail Pharmacy Market Attractiveness Analysis, By Product Type 63

9.1.3. Incremental Revenue Growth Opportunity, by Product Type, 2024 – 2032 63

9.1.4. Canada Retail Pharmacy Market Revenue, By Product Type, 2018, 2023, 2027 & 2032 64

9.2. Generic Drugs 65

9.3. Branded Drugs 66

CHAPTER NO. 10 : CANADA RETAIL PHARMACY MARKET – BY APPLICATION SEGMENT ANALYSIS 67

10.1. Canada Retail Pharmacy Market Overview, by Application Segment 67

10.1.1. Canada Retail Pharmacy Market Revenue Share, By Application , 2023 & 2032 68

10.1.2. Canada Retail Pharmacy Market Attractiveness Analysis, By Application 69

10.1.3. Incremental Revenue Growth Opportunity, by Application , 2024 – 2032 69

10.1.4. Canada Retail Pharmacy Market Revenue, By Application , 2018, 2023, 2027 & 2032 70

10.2. Oncology 71

10.3. Diabetes 72

10.4. Neurology 73

10.5. Others 74

CHAPTER NO. 11 : CANADA RETAIL PHARMACY MARKET – BY CUSTOMER SEGMENT ANALYSIS 75

11.1. Canada Retail Pharmacy Market Overview, by Customer Segment 75

11.1.1. Canada Retail Pharmacy Market Revenue Share, By Customer Segment, 2023 & 2032 76

11.1.2. Canada Retail Pharmacy Market Attractiveness Analysis, By Customer Segment 77

11.1.3. Incremental Revenue Growth Opportunity, by Customer Segment, 2024 – 2032 77

11.1.4. Canada Retail Pharmacy Market Revenue, By Customer Segment, 2018, 2023, 2027 & 2032 78

11.2. Paediatric 79

11.3. Adults 80

11.4. Geriatric 80

CHAPTER NO. 12 : CANADA RETAIL PHARMACY MARKET – ANALYSIS 81

12.1. Type of Pharmacy 81

12.1.1. Canada Retail Pharmacy Market Revenue, By Type of Pharmacy, 2018 – 2023 (USD Million) 81

12.1.2. Canada Retail Pharmacy Market Revenue, By Type of Pharmacy, 2024 – 2032 (USD Million) 81

12.2. Type of Prescription 82

12.2.1. Canada Retail Pharmacy Market Revenue, By Type of Prescription, 2018 – 2023 (USD Million) 82

12.2.2. Canada Retail Pharmacy Market Revenue, By Type of Prescription, 2024 – 2032 (USD Million) 82

12.3. Service Offered 83

12.3.1. Canada Retail Pharmacy Market Revenue, By Service Offered, 2018 – 2023 (USD Million) 83

12.3.2. Canada Retail Pharmacy Market Revenue, By Service Offered, 2024 – 2032 (USD Million) 83

12.4. Product Type 84

12.4.1. Canada Retail Pharmacy Market Revenue, By Product Type, 2018 – 2023 (USD Million) 84

12.4.2. Canada Retail Pharmacy Market Revenue, By Product Type, 2024 – 2032 (USD Million) 84

12.5. Application 85

12.5.1. Canada Retail Pharmacy Market Revenue, By Application, 2018 – 2023 (USD Million) 85

12.5.2. Canada Retail Pharmacy Market Revenue, By Application, 2024 – 2032 (USD Million) 85

12.6. Customer Segment 86

12.6.1. Canada Retail Pharmacy Market Revenue, By Customer Segment, 2018 – 2023 (USD Million) 86

12.6.2. Canada Retail Pharmacy Market Revenue, By Customer Segment, 2024 – 2032 (USD Million) 86

CHAPTER NO. 13 : COMPANY PROFILES 87

13.1. McKesson Canada 87

13.1.1. Company Overview 87

13.1.2. Product Portfolio 87

13.1.3. Swot Analysis 87

13.1.4. Business Strategy 88

13.1.5. Financial Overview 88

13.2. Shoppers Drug Mart Corporation 89

13.3. Costco Pharmacy 89

13.4. Walmart Pharmacy 89

13.5. Kroger Pharmacy 89

13.6. Company 6 89

13.7. Company 7 89

13.8. Company 8 89

13.9. Company 9 89

13.10. Company 10 89

List of Figures

FIG NO. 1. Canada Retail Pharmacy Market Revenue, 2018 – 2032 (USD Million) 22

FIG NO. 2. Porter’s Five Forces Analysis for Canada Retail Pharmacy Market 28

FIG NO. 3. Company Share Analysis, 2024 29

FIG NO. 4. Company Share Analysis, 2024 30

FIG NO. 5. Company Share Analysis, 2024 30

FIG NO. 6. Company Share Analysis, 2024 31

FIG NO. 7. Canada Retail Pharmacy Market – Company Revenue Market Share, 2024 32

FIG NO. 8. Canada Retail Pharmacy Market Revenue Share, By Type of Pharmacy, 2023 & 2032 38

FIG NO. 9. Market Attractiveness Analysis, By Type of Pharmacy 39

FIG NO. 10. Incremental Revenue Growth Opportunity by Type of Pharmacy, 2024 – 2032 39

FIG NO. 11. Canada Retail Pharmacy Market Revenue, By Type of Pharmacy, 2018, 2023, 2027 & 2032 40

FIG NO. 12. Canada Retail Pharmacy Market for Chain Pharmacies, Revenue (USD Million) 2018 – 2032 41

FIG NO. 13. Canada Retail Pharmacy Market for Independent Pharmacies, Revenue (USD Million) 2018 – 2032 42

FIG NO. 14. Canada Retail Pharmacy Market for Hospital Pharmacies, Revenue (USD Million) 2018 – 2032 43

FIG NO. 15. Canada Retail Pharmacy Market for Mail Order Pharmacies, Revenue (USD Million) 2018 – 2032 44

FIG NO. 16. Canada Retail Pharmacy Market for Online Pharmacies, Revenue (USD Million) 2018 – 2032 45

FIG NO. 17. Canada Retail Pharmacy Market Revenue Share, By Type of Prescription, 2023 & 2032 47

FIG NO. 18. Market Attractiveness Analysis, By Type of Prescription 48

FIG NO. 19. Incremental Revenue Growth Opportunity by Type of Prescription, 2024 – 2032 48

FIG NO. 20. Canada Retail Pharmacy Market Revenue, By Type of Prescription, 2018, 2023, 2027 & 2032 49

FIG NO. 21. Canada Retail Pharmacy Market for Prescription Drugs (Rx), Revenue (USD Million) 2018 – 2032 50

FIG NO. 22. Canada Retail Pharmacy Market for Over-the-Counter (OTC) Drugs, Revenue (USD Million) 2018 – 2032 51

FIG NO. 23. Canada Retail Pharmacy Market Revenue Share, By Service Offered, 2023 & 2032 53

FIG NO. 24. Market Attractiveness Analysis, By Service Offered 54

FIG NO. 25. Incremental Revenue Growth Opportunity by Service Offered, 2024 – 2032 54

FIG NO. 26. Canada Retail Pharmacy Market Revenue, By Service Offered, 2018, 2023, 2027 & 2032 55

FIG NO. 27. Canada Retail Pharmacy Market for Medication Dispensing, Revenue (USD Million) 2018 – 2032 56

FIG NO. 28. Canada Retail Pharmacy Market for Health Screenings, Revenue (USD Million) 2018 – 2032 57

FIG NO. 29. Canada Retail Pharmacy Market for Vaccination Services, Revenue (USD Million) 2018 – 2032 58

FIG NO. 30. Canada Retail Pharmacy Market for Consultation and Counseling, Revenue (USD Million) 2018 – 2032 59

FIG NO. 31. Canada Retail Pharmacy Market for Chronic Disease Management, Revenue (USD Million) 2018 – 2032 60

FIG NO. 32. Canada Retail Pharmacy Market Revenue Share, By Product Type, 2023 & 2032 62

FIG NO. 33. Market Attractiveness Analysis, By Product Type 63

FIG NO. 34. Incremental Revenue Growth Opportunity by Product Type, 2024 – 2032 63

FIG NO. 35. Canada Retail Pharmacy Market Revenue, By Product Type, 2018, 2023, 2027 & 2032 64

FIG NO. 36. Canada Retail Pharmacy Market for Generic Drugs, Revenue (USD Million) 2018 – 2032 65

FIG NO. 37. Canada Retail Pharmacy Market for Branded Drugs, Revenue (USD Million) 2018 – 2032 66

FIG NO. 38. Canada Retail Pharmacy Market Revenue Share, By Application , 2023 & 2032 68

FIG NO. 39. Market Attractiveness Analysis, By Application 69

FIG NO. 40. Incremental Revenue Growth Opportunity by Application , 2024 – 2032 69

FIG NO. 41. Canada Retail Pharmacy Market Revenue, By Application , 2018, 2023, 2027 & 2032 70

FIG NO. 42. Canada Retail Pharmacy Market for Oncology, Revenue (USD Million) 2018 – 2032 71

FIG NO. 43. Canada Retail Pharmacy Market for Diabetes, Revenue (USD Million) 2018 – 2032 72

FIG NO. 44. Canada Retail Pharmacy Market for Neurology, Revenue (USD Million) 2018 – 2032 73

FIG NO. 45. Canada Retail Pharmacy Market for Others, Revenue (USD Million) 2018 – 2032 74

FIG NO. 46. Canada Retail Pharmacy Market Revenue Share, By Customer Segment, 2023 & 2032 76

FIG NO. 47. Market Attractiveness Analysis, By Customer Segment 77

FIG NO. 48. Incremental Revenue Growth Opportunity by Customer Segment, 2024 – 2032 77

FIG NO. 49. Canada Retail Pharmacy Market Revenue, By Customer Segment, 2018, 2023, 2027 & 2032 78

FIG NO. 50. Canada Retail Pharmacy Market for Pediatric, Revenue (USD Million) 2018 – 2032 79

FIG NO. 51. Canada Retail Pharmacy Market for Adults, Revenue (USD Million) 2018 – 2032 80

FIG NO. 52. Canada Retail Pharmacy Market for Geriatric, Revenue (USD Million) 2018 – 2032 80

List of Tables

TABLE NO. 1. : Canada Retail Pharmacy Market: Snapshot 21

TABLE NO. 2. : Drivers for the Canada Retail Pharmacy Market: Impact Analysis 24

TABLE NO. 3. : Restraints for the Canada Retail Pharmacy Market: Impact Analysis 26

TABLE NO. 4. : Canada Retail Pharmacy Market Revenue, By Type of Pharmacy, 2018 – 2023 (USD Million) 81

TABLE NO. 5. : Canada Retail Pharmacy Market Revenue, By Type of Pharmacy, 2024 – 2032 (USD Million) 81

TABLE NO. 6. : Canada Retail Pharmacy Market Revenue, By Type of Prescription, 2018 – 2023 (USD Million) 82

TABLE NO. 7. : Canada Retail Pharmacy Market Revenue, By Type of Prescription, 2024 – 2032 (USD Million) 82

TABLE NO. 8. : Canada Retail Pharmacy Market Revenue, By Service Offered, 2018 – 2023 (USD Million) 83

TABLE NO. 9. : Canada Retail Pharmacy Market Revenue, By Service Offered, 2024 – 2032 (USD Million) 83

TABLE NO. 10. : Canada Retail Pharmacy Market Revenue, By Product Type, 2018 – 2023 (USD Million) 84

TABLE NO. 11. : Canada Retail Pharmacy Market Revenue, By Product Type, 2024 – 2032 (USD Million) 84

TABLE NO. 12. : Canada Retail Pharmacy Market Revenue, By Application, 2018 – 2023 (USD Million) 85

TABLE NO. 13. : Canada Retail Pharmacy Market Revenue, By Application, 2024 – 2032 (USD Million) 85

TABLE NO. 14. : Canada Retail Pharmacy Market Revenue, By Customer Segment, 2018 – 2023 (USD Million) 86

TABLE NO. 15. : Canada Retail Pharmacy Market Revenue, By Customer Segment, 2024 – 2032 (USD Million) 86

Frequently Asked Questions

What is the current market size of the Canada Retail Pharmacy Market?

The Canada Retail Pharmacy Market is projected to reach USD 39,810.35 million in 2024. It is expected to grow to USD 50,732.50 million by 2032, with a compound annual growth rate (CAGR) of 3.08% from 2025 to 2032.

What factors are driving growth in the Canada Retail Pharmacy Market?

Key growth drivers include an aging population, increasing prevalence of chronic diseases, and rising demand for healthcare services. Advancements in digital health technologies like telepharmacy and online prescription services are also contributing to the market’s expansion.

Who are the major players in the Canada Retail Pharmacy Market?

Major players in the market include McKesson Canada, Shoppers Drug Mart (Loblaw Companies), and Jean Coutu Group (Metro Inc.). These companies dominate through extensive retail networks and a wide range of pharmacy services.

How is the shift towards digital health impacting the retail pharmacy market?

The adoption of telepharmacy and online prescription services is improving accessibility and convenience for consumers. These technological advancements are expected to enhance patient engagement and medication adherence, boosting market growth.

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