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US 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 Customer Segment (Pediatric, Adults, Geriatric); By Application (Oncology, Diabetes, Neurology, Others) – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Price: $1999

Published: | Report ID: 32801 | Report Format : PDF

TAM (Total Addressable Market) of US Retail Pharmacy Market

REPORT ATTRIBUTE DETAILS
Historical Period  2019-2022
Base Year  2023
Forecast Period  2024-2032
US Retail Pharmacy Market Size 2023  USD 569.8 Billion
US Retail Pharmacy Market, CAGR  4.9%
US Retail Pharmacy Market Size 2032  USD 750.6 Billion

YEARS CONSIDERED FOR THE STUDY

YEARS CONSIDERED FOR THE STUDY

Purpose of the Report

To define, describe, and forecast the U.S. Retail Pharmacy Market by Type of Pharmacy of

  • Pharmacy, Type of Pharmacy of Prescription, Services offered, Product type, Customer segment, and Type of Prescription
  • Total Addressable Market and Market sizing in terms of Value (USD Million) and or volume (Unit)

CURRENCY

  • The currency used in US. Retail Pharmacy Market report is the United States Dollar (USD), with the Market size indicated in terms of USD million/billion and volume (Unit).
  • For companies reporting their revenues in USD, the revenues were picked from their annual reports.
  • For companies that reported their revenues in other currencies, the average annual currency conversion rate was used for the particular year to convert the value to USD.

STAKEHOLDERS

  • US Retail Pharmacy Manufacturers
  • US Retail Pharmacy Associations
  • US Retail Pharmacy Research Institutes
  • US Research and Consulting Firms
  • US Retail Pharmacy Distributors
  • US Group Purchasing Organizations (GPOs)
  • US Retail Pharmacy Raw Material Suppliers
  • US Retail Pharmacy Development Institutes and Organizations

Key Benefits for Stakeholders

  • The U.S. Retail Pharmacy Market report covers forecast and analysis for the U.S Retail Pharmacy Market.
  • The U.S. Retail Pharmacy study provides historic data from 2018 to 2023 along with a forecast from 2024 to 2032 based on revenue (USD Million) to determine the Market potential.
  • The U.S. Retail Pharmacy study includes drivers and restraints of the Market along with the impact they have on the demand over the forecast period.
  • The U.S. Retail Pharmacy report includes the study of potential growth opportunities available in the Retail Pharmacy Market.
  • Porter’s five forces analysis illustrates the degree of competition along with the potency of buyers and suppliers operating in the U.S. Retail Pharmacy industry.

Target Audience

  • Industry Investors
  • Consultants
  • Service Providers
  • Manufacturers
  • End Users
  • Researchers and Academics

Report Scope

US Retail Pharmacy Market Report Scope

Chapter No. 2 – Executive Summary

U.S Retail Pharmacy Market Snapshot.

The U.S. demand for the Retail Pharmacy Market was valued at USD 569.79 Billion in 2023 is expected to reach USD 948.80 Billion in 2032 growing at a CAGR of 5.76% between 2024 and 2032.

The U.S. retail pharmacy market represents a substantial segment of the healthcare industry, playing a critical role in the distribution of medications, healthcare products, and pharmaceutical care services to the general population. This market is characterized by its vast network of retail pharmacy outlets, including chain pharmacies, independent pharmacies, supermarket pharmacy departments, and online pharmacy services. The evolution of retail pharmacies from mere medication dispensing centers to comprehensive healthcare service providers underscores the sector’s dynamic nature and its significant impact on the overall healthcare system.

In recent years, the U.S. retail pharmacy market has witnessed robust growth, driven by an increasing demand for prescription medications, over-the-counter (OTC) products, and pharmacy services. This growth trajectory is further bolstered by the country’s aging population, rising prevalence of chronic diseases, and expanding healthcare coverage under various insurance programs. Market research estimates have positioned the market value at an impressive figure, indicating a strong upward trend that is expected to continue in the coming years.

A notable development within this market is the strategic transformation of retail pharmacies into integrated healthcare hubs. These establishments are increasingly offering a wider array of services, including immunizations, health screenings, disease management programs, and wellness consultations, thereby playing a pivotal role in preventive healthcare and chronic disease management. The integration of advanced technology systems for prescription management, patient engagement, and operational efficiency is also a key feature of this evolving market landscape.

TABLE NO. 1. : U.S. Retail Pharmacy Market: Snapshot

PARAMETER 2023 2032
U.S. Revenue
(USD Billion)
569.79 948.80
U.S. CAGR (%)
2024 – 2032
U.S. CAGR: 5.76%
By Type of Pharmacy Segment Share
(% Revenue basis)
Chain Pharmacies

Independent Pharmacies

Hospital Pharmacies: 18.29%

Mail Order Pharmacies

Online Pharmacies

Chain Pharmacies

Independent Pharmacies

Hospital Pharmacies

Mail Order Pharmacies

Online Pharmacies

By Type of Prescription Segment Share
(% Revenue basis)
Prescription Drugs (Rx): 81.31%

Over-the-Counter (OTC) Drugs: 18.70%

Prescription Drugs (Rx)

Over-the-Counter (OTC) Drugs

By Product Type Segment Share
(% Revenue basis)
Generic Drugs

Branded Drugs

Generic Drugs

Branded Drugs

By Application Segment Share
(% Revenue basis)
Cardiovascular

Central Nervous System

Gastrointestinal: 16.53%

Oncology

Others

Cardiovascular

Central Nervous System

Gastrointestinal: 16.53%

Oncology

Others: 17.19%

By Customer Segment Share
(% Revenue basis)
Pediatric

Adults

Geriatric

Pediatric              : 15.48%

Adults

Geriatric

FIG NO. 1. U.S. Retail Pharmacy Market Revenue, 2018 – 2032 (USD Billion)

FIG NO. 1. U.S. Retail Pharmacy Market Revenue, 2018 - 2032 (USD Billion)

CHAPTER NO. 3 – U.S. RETAIL PHARMACY MARKET – INDUSTRY ANALYSIS

Chapter No. 3.1. Introduction

Retail pharmacy refers to the segment of the healthcare industry that involves the dispensing of prescription medications and over-the-counter (OTC) drugs directly to consumers for their personal use. Retail pharmacies are typically located in community settings such as standalone stores, supermarkets, or within larger healthcare facilities like hospitals and clinics. They play a crucial role in providing access to essential medications and healthcare products, offering services such as medication counselling, prescription fulfilment, and health screenings.

Chapter No. 3.2. U.S Retail Pharmacy Market Drivers

Increasing Healthcare Demand

The surge in healthcare demand within the United States serves as a primary driver for the retail pharmacy market. This phenomenon is largely attributed to demographic shifts, notably the aging baby boomer population, which necessitates more prescription medications and health services. Furthermore, the growing incidence of chronic conditions such as diabetes, hypertension, and cardiovascular diseases among all age groups has led to an increased demand for medication management and pharmacy care services. The Affordable Care Act and other health insurance reforms have expanded coverage to millions of Americans, further elevating the demand for pharmaceutical products and services available through retail pharmacies.

Advancements in Technology and Emphasis on Preventive Healthcare

Technological advancements have revolutionized the retail pharmacy sector, enhancing service delivery, customer engagement, and operational efficiency. The adoption of electronic health records (EHRs), e-prescriptions, pharmacy management systems, and telepharmacy services has streamlined the prescription filling process, improved patient safety, and facilitated better communication between pharmacies and healthcare providers. Additionally, the shift towards preventive healthcare, driven by public health initiatives and consumer awareness, has amplified the role of retail pharmacies in offering vaccinations, health screenings, and wellness programs. These services not only contribute to improved health outcomes but also generate additional revenue streams for pharmacies.

Emphasis on Preventive Healthcare

The U.S. retail pharmacy market is experiencing significant growth due to an increasing emphasis on preventive healthcare. This shift towards prevention is driven by a growing awareness of the long-term benefits and cost savings associated with avoiding diseases before they occur. Pharmacies are responding by expanding their role beyond dispensing medications to becoming integral parts of the preventive healthcare landscape. They offer a range of services such as immunizations, health screenings, and wellness programs designed to identify health risks early and promote healthier lifestyle choices among the population. This proactive approach not only helps in reducing the burden on the healthcare system by preventing hospital visits and treatments for advanced diseases but also aligns with the public’s increasing desire to take control of their health. Consequently, retail pharmacies are becoming vital access points for health education and preventive services, reinforcing their importance in the broader healthcare ecosystem and driving market growth.

Chapter No. 3.3. U.S Retail Pharmacy Market Restraints

Stringent Regulatory Environment and High Initial Investments

The U.S. retail pharmacy market operates within a stringent regulatory environment, governed by a myriad of federal and state laws and regulations. Compliance with these regulations, including those related to drug dispensing, patient privacy, and pharmacy operations, imposes significant challenges and costs for retail pharmacies. Moreover, the high initial investments required for establishing and maintaining pharmacy operations, including the acquisition of advanced technology systems, facility setup, and inventory management, represent substantial barriers to entry and expansion, particularly for independent and small-scale operators.

High Initial Investments

High initial investments represent a significant restraint in the U.S. retail pharmacy market, impacting its growth and expansion. Opening a new pharmacy or modernizing existing ones to keep pace with rapidly evolving healthcare needs and technology requires substantial capital. These investments cover a wide range of necessities, including the acquisition of state-of-the-art pharmaceutical inventory management systems, advanced security measures for prescription safety, digital health technologies, and the development of online platforms for e-prescriptions and telehealth services. Additionally, the costs associated with maintaining compliance with regulatory standards and certifications add another layer of financial burden. For independent and smaller pharmacy chains, these financial requirements can be particularly daunting, limiting their ability to compete with larger, well-funded competitors. This challenge not only hinders the entry of new players into the market but also affects the ability of existing pharmacies to expand their services and reach, ultimately impacting consumer access to innovative healthcare solutions and services.

Chapter No. 3.4. U.S Retail Pharmacy Market Opportunities

  1. Expansion of Online and Mail-order Pharmacies: The growing consumer preference for convenience and the increasing penetration of internet and smartphone usage present significant opportunities for the expansion of online and mail-order pharmacy services.
  2. Specialty Medications: The burgeoning market for specialty medications, including biologics for treating complex chronic conditions, offers a lucrative niche for retail pharmacies equipped with the expertise and infrastructure to handle these products.
  3. Collaborative Healthcare Models: Partnerships between retail pharmacies and healthcare providers, such as clinics and hospitals, to offer integrated care services can enhance patient outcomes and open new revenue channels.
  4. Personalized Medicine and Pharmacogenomics: Advancements in personalized medicine and pharmacogenomics provide avenues for pharmacies to offer customized medication therapies based on genetic profiling, catering to the growing consumer demand for personalized healthcare solutions.
  5. Health and Wellness Services: Expanding the portfolio of health and wellness services, including nutritional counseling, lifestyle coaching, and preventive screenings, can attract a broader customer base and foster customer loyalty.
  6. Global Market Penetration: For chains and franchises, exploring international markets could yield additional growth, given the global rise in healthcare demand and the appeal of the American retail pharmacy model.
  7. Technological Innovations: Investing in digital health technologies, such as mobile health apps, wearable devices, and artificial intelligence for personalized service offerings, can enhance customer engagement and operational efficiency.

Chapter No. 3.5. U.S Retail Pharmacy Market Porter’s Five Forces Analysis

Chapter No. 4 : Analysis Competitive Landscape

U.S. Retail Pharmacy Market Company Revenue Market Share, 2023

Company 2020
CVS Health
Walgreens Boots Alliance
Walmart Inc.
Rite Aid
Kroger Pharmacy
Costco Wholesale
Cigna
Humana
United Health Group
Publix
Albertsons Companies
BrightSpring Health Services
PANTHERx Rare Pharmacy
Ahold Delhaize
Centene
Others 55.90%
Total 100.00%

Top 10 largest retail pharmacies by number of pharmacists

Company Number of Pharmacists
CVS Corp.
Walgreens (Deerfield, Ill.)
Walmart (Bentonville, Ark.)
Rite Aid Corp. (Camp Hill, Pa.)
Kroger (Cincinnati)
Safeway (Pleasanton, Calif.)
Publix Pharmacies (Lakeland, Fla.)
Sears Holdings Corp. (Hoffman Estate, Ill.)
Cerberus Capital Management (New York)
Costco Pharmacies (Issaquah, Wash.)

4.7. Top 10 largest retail pharmacies by number of stores

Company Number of Stores
CVS Corp. (Woonsocket, R.I.)
Walgreens (Deerfield, Ill.)
Rite Aid Corp. (Camp Hill, Pa.)
Walmart (Bentonville, Ark.)
Kroger (Cincinnati)
Safeway (Pleasanton, Calif.)
Publix Pharmacies (Lakeland, Fla.)
Sears Holdings Corp. (Hoffman Estate, Ill.)
Cerberus Capital Management (New York)
Costco Pharmacies (Issaquah, Wash.)

Chapter No. 6 : Retail Pharmacy Market – By Type of

Pharmacy Segment Analysis

6.6. Chain Pharmacies

Chain pharmacies are part of larger retail networks and offer a standardized selection of medications and health services across multiple locations. These pharmacies benefit from bulk purchasing, streamlined operations, and brand recognition, which contribute to their ability to offer competitive pricing and consistent customer experience. Chain pharmacies are key players in the industry, often setting trends in pharmaceutical retail innovation.

6.7. Independent Pharmacies

Independent pharmacies are typically owned by individual pharmacists or small business owners. They are known for their personalized customer service and community-oriented approach. These pharmacies often fill niche markets by offering specialized services, local product assortments, and flexible patient care, which distinguishes them from larger chains.

6.8. Hospital Pharmacies

Hospital pharmacies are integral to healthcare facilities, managing medication distribution that is critical to patient care within the hospital. They handle complex drug regimens, provide medication therapy management, and ensure the safety and effectiveness of pharmaceutical treatments administered to patients during hospital stays.

6.9. Mail Order Pharmacies

Mail order pharmacies provide medications shipped directly to patients’ homes, focusing on convenience and often cost savings. They are particularly beneficial for patients with chronic conditions requiring long-term medication maintenance. These pharmacies leverage technology to manage prescriptions efficiently and improve patient adherence to prescribed drug therapies.

6.10. Online Pharmacies

Online pharmacies operate on digital platforms, offering the convenience of ordering medications via the internet with the option for home delivery. They provide a broad range of products, including prescription drugs, over-the-counter medications, and health supplements. Online pharmacies are growing rapidly due to increased internet usage and consumer preference for online shopping.

Chapter No. 7 : Retail Pharmacy Market – By Type of

Prescription Segment Analysis

7.6. Prescription Drugs (Rx)

Prescription drugs are medications that require a doctor’s authorization for purchase. These drugs are regulated by health authorities to ensure they are dispensed safely and appropriately. The prescription drug segment is driven by innovations in drug development and the ongoing need for treatments that address specific medical conditions.

7.7. Over-the-Counter (OTC) Drugs

Over-the-counter drugs can be purchased without a prescription and are used to treat common ailments like colds, allergies, and minor pain. This segment benefits from consumer ease of access and the growing trend toward self-medication, supported by trusted OTC brands and products.

Chapter No. 8 : Retail Pharmacy Market – By Product

Type Segment Analysis

8.6. Generic Drugs

Generic drugs are cost-effective alternatives to branded drugs, containing the same active ingredients and performing similarly in terms of quality and effectiveness. The generic drugs segment is crucial for improving drug affordability and accessibility, particularly in managing healthcare costs for both patients and insurers.

8.7. Branded Drugs

Branded drugs are developed through research and protected by patents, often associated with a specific pharmaceutical company. They are marketed under proprietary names and are generally priced higher due to their perceived innovation and effectiveness. This segment remains strong due to ongoing pharmaceutical research and patient trust in established drug brands.

Chapter No. 9 : Retail Pharmacy Market – By

Application Segment Analysis

9.6. Cardiovascular

The cardiovascular segment of the retail pharmacy market deals primarily with medications for heart-related conditions such as hypertension, arrhythmias, and heart failure. Pharmacies play a crucial role in providing access to life-saving drugs and supporting patient adherence to ongoing treatment regimens. This segment is characterized by a steady demand driven by an aging population and increasing prevalence of cardiovascular diseases.

9.7. Central Nervous System

This segment focuses on medications used to treat disorders of the central nervous system (CNS), including antidepressants, antipsychotics, and drugs for Parkinson’s and Alzheimer’s diseases. Retail pharmacies offer critical support in managing these conditions, which often require long-term medication protocols. The segment is expanding due to rising awareness and diagnosis rates of mental health and neurological conditions.

9.8. Gastrointestinal

The gastrointestinal segment includes drugs for treating disorders such as acid reflux, ulcers, and irritable bowel syndrome. Retail pharmacies provide a range of over-the-counter and prescription solutions for these common ailments, facilitating immediate access and convenience for patients experiencing digestive issues. This market segment benefits from widespread conditions that affect large portions of the population, requiring both acute and chronic treatment solutions.

9.9. Oncology

Oncology in the retail pharmacy market involves the provision of cancer-related medications, including chemotherapy drugs and supportive care medications to manage side effects of cancer treatment. This segment is critical due to the complex nature of cancer treatment regimens that often require tailored pharmaceutical care. Oncology continues to be a major focus for pharmaceutical development, reflecting the high demand and ongoing need for innovative treatment options.

Chapter No. 10 : Retail Pharmacy Market – By

Customer Segment Analysis

10.6. Paediatric

The pediatric segment addresses the specific pharmaceutical needs of children from infancy through adolescence. This includes vaccines, antibiotics, and treatments for common pediatric conditions like asthma and allergies. Retail pharmacies often provide child-friendly formulations and dosages, ensuring safe and effective treatment for younger patients. This segment is essential for supporting the developmental and health requirements unique to children.

10.7. Adults

Adults represent the largest customer segment in the retail pharmacy market, encompassing a broad age range that includes young adults through to those approaching senior age. This segment demands a wide variety of health services, from reproductive health and chronic disease management to preventive care and wellness products. Retail pharmacies cater to this diverse group with a comprehensive approach to health and wellness.

10.8. Geriatric

The geriatric segment involves older adults who typically have multiple health conditions requiring various medications and medical aids. Retail pharmacies provide essential services such as medication management, compounding, and dosage adjustments to accommodate the unique needs of elderly patients. This segment is growing rapidly due to the increasing lifespan and the higher healthcare demands of the aging population. Retail pharmacies are vital in supporting the quality of life and health maintenance for older adults.

Chapter No. 11 : Company Profiles

Strategic Initiatives

Date REPORT ATTRIBUTE DETAILS
March 2024 Mergers and Acquisitions Elevance Health has completed the acquisition of Kroger Specialty Pharmacy. The company intends to integrate Kroger Specialty Pharmacy into its CarelonRx division, which specializes in pharmacy benefit management services.
June 2023 Mergers and Acquisitions Cardinal Health has announced the signing of a definitive agreement to merge its Outcomes business with Transaction Data Systems (TDS). This strategic move aims to develop an integrated suite of pharmacy workflow software that includes patient engagement and clinical solutions, catering to the diverse needs of stakeholders within the patient, pharmacy, payer, and pharmaceutical company ecosystem. This merger will bring together one of the nation’s largest networks, covering 40,000 retail, chain, and grocery pharmacies.
December 2021 Collaboration CVS Health has entered into a collaboration with Microsoft to enhance its omnichannel pharmacy capabilities and provide personalized care recommendations to consumers. As part of this partnership, CVS Health plans to utilize Microsoft’s Azure cloud platform and data science expertise, underscoring the increasing convergence of technology and healthcare in delivering services centered around the patient.
June 2021 Acquisitions AmerisourceBergen Corporation has successfully completed its strategic agreements with Walgreens Boots Alliance, Inc., leading to AmerisourceBergen acquiring the majority of the Alliance Healthcare businesses from Walgreens Boots Alliance. This major transaction highlights the strategic efforts of both companies to enhance their service offerings in the healthcare and pharmaceutical sectors.
December 2018 Acquisition Cigna has completed its acquisition of Express Scripts Holding Co., a move designed to expand its presence in the pharmaceutical industry. This acquisition is part of Cigna’s strategic effort to enhance its capabilities and service offerings in the healthcare market.
November 2018 Acquisition CVS Health Corporation announced the successful completion of its acquisition of Aetna, a significant move toward integrating two leading organizations with the goal of developing an innovative healthcare model. This merger reflects the changing dynamics of the healthcare industry, where companies are increasingly focused on providing comprehensive and integrated healthcare solutions.

Table of Content

Chapter No. 1 :……….. Introduction.. 17

1.1.       Report Description. 17

Purpose of the Report. 17

USP & Key Offerings. 17

1.2.       Key Benefits for Stakeholders. 17

1.3.       Target Audience. 18

1.4.       Report Scope   18

Chapter No. 2 :……….. Executive Summary. 19

2.1.       Retail Pharmacy Market Snapshot. 19

2.2.       U.S. Retail Pharmacy Market, 2018 – 2032 (USD Billion). 20

Chapter No. 3 :……….. Retail Pharmacy Market – Industry Analysis. 21

3.1.       Introduction   21

3.2.       Market Drivers  22

3.3.       Increasing Healthcare Demand. 22

3.4.       Advancements in Technology. 23

3.5.       Emphasis on Preventive Healthcare. 25

3.6.       Market Restraints. 27

3.7.       Stringent Regulatory Environment. 27

3.8.       High Initial Investment. 28

3.9.       Market Opportunities. 30

3.10.    Market Opportunity Analysis. 30

3.11.    Porter’s Five Forces Analysis. 31

3.12.    U.S. Retail Prescriptions, 2013 to 2025 (Billion). 33

3.13.    States with the Most Pharmacies in the U.S. 34

Chapter No. 4 :……….. Analysis Competitive Landscape. 35

4.1.       Company Market Share Analysis – 2023. 35

4.2.       U.S. Retail Pharmacy Market: Company Market Share, 2023. 35

4.3.       U.S. Retail Pharmacy Market: Top 6 Company Market Share, by Revenue, 2023. 36

4.4.       U.S. Retail Pharmacy Market: Top 3 Company Market Share, by Revenue, 2023. 37

4.5.       U.S. Retail Pharmacy Market Company Revenue Market Share, 2023. 38

4.6.       Top 10 largest retail pharmacies by number of pharmacists. 39

4.7.       Top 10 largest retail pharmacies by number of stores. 40

4.8.       Company Assessment Metrics, 2023. 41

Stars. 41

Emerging Leaders. 41

Pervasive Players. 41

Participants. 41

Chapter No. 5 :……….. Key Market Dynamics. 42

5.1.       Shifting Consumer Preferences. 42

5.2.       Factors Influencing Decision. 43

5.3.       Opportunities Tailored to the Unique Strengths of Each Type of Retail Pharmacy. 44

Chapter No. 6 :……….. PESTEL & Adjacent Market Analysis. 45

6.1.       PESTEL  45

6.2.       Political Factors. 45

6.3.       Economic Factors. 45

6.4.       Social Factors  45

6.5.       Technological Factors. 45

6.6.       Environmental Factors. 46

6.7.       Legal Factors  46

Chapter No. 7 :……….. Retail Pharmacy Market – By Type of Pharmacy Segment Analysis  47

7.1.       Retail Pharmacy Market Overview, by Type of Pharmacy Segment. 47

7.2.       Retail Pharmacy Market Revenue Share, By Type of Pharmacy, 2023 & 2032. 47

7.3.       Retail Pharmacy Market Attractiveness Analysis, By Type of Pharmacy. 49

7.4.       Incremental Revenue Growth Opportunity, by Type of Pharmacy, 2024 – 2032. 50

7.5.       Retail Pharmacy Market Revenue, By Type of Pharmacy, 2018, 2023, 2027 & 2032. 51

7.6.       Chain Pharmacies. 52

7.7.       Independent Pharmacies. 53

7.8.       Hospital Pharmacies. 54

7.9.       Mail Order Pharmacies. 55

7.10.    Online Pharmacies. 56

Chapter No. 8 :……….. Retail Pharmacy Market – By Type of Prescription Segment Analysis  57

8.1.       Retail Pharmacy Market Overview, by Type of Prescription Segment. 57

8.2.       Retail Pharmacy Market Revenue Share, By Type of Prescription, 2023 & 2032. 57

8.3.       Retail Pharmacy Market Attractiveness Analysis, By Type of Prescription. 58

8.4.       Incremental Revenue Growth Opportunity, by Type of Prescription, 2024 – 2032. 59

8.5.       Retail Pharmacy Market Revenue, By Type of Prescription, 2018, 2023, 2027 & 2032. 60

8.6.       Prescription Drugs (Rx). 61

8.7.       Over-the-Counter (OTC) Drugs. 62

Chapter No. 9 :……….. Retail Pharmacy Market – By Product Type Segment Analysis  63

9.1.       Retail Pharmacy Market Overview, by Product Type Segment. 63

9.2.       Retail Pharmacy Market Revenue Share, By Product Type, 2023 & 2032. 63

9.3.       Retail Pharmacy Market Attractiveness Analysis, By Product Type. 65

9.4.       Incremental Revenue Growth Opportunity, by Product Type, 2024 – 2032. 66

9.5.       Retail Pharmacy Market Revenue, By Product Type, 2018, 2023, 2027 & 2032. 67

9.6.       Generic Drugs  68

9.7.       Branded Drugs  69

Chapter No. 10 :……… Retail Pharmacy Market – By Application Segment Analysis  70

10.1.    Retail Pharmacy Market Overview, by Application Segment. 70

10.2.    Retail Pharmacy Market Revenue Share, By Application, 2023 & 2032. 70

10.3.    Retail Pharmacy Market Attractiveness Analysis, By Application. 72

10.4.    Incremental Revenue Growth Opportunity, by Application, 2024 – 2032. 73

10.5.    Retail Pharmacy Market Revenue, By Application, 2018, 2023, 2027 & 2032. 74

10.6.    Cardiovascular  75

10.7.    Central Nervous System.. 76

10.8.    Gastrointestinal 77

10.9.    Oncology  78

10.10.  Others  79

Chapter No. 11 :……… Retail Pharmacy Market – By Customer Segment Analysis. 80

11.1.    Retail Pharmacy Market Overview, by Customer Segment. 80

11.2.    Retail Pharmacy Market Revenue Share, By Customer Segment, 2023 & 2032. 80

11.3.    Retail Pharmacy Market Attractiveness Analysis, By Customer Segment. 82

11.4.    Incremental Revenue Growth Opportunity, by Customer Segment, 2024 – 2032. 83

11.5.    Retail Pharmacy Market Revenue, By Customer Segment, 2018, 2023, 2027 & 2032. 84

11.6.    Paediatric  85

11.7.    Adults  86

11.8.    Geriatric  87

Chapter No. 12 :……… Retail Pharmacy Market – By Region Segment Analysis. 88

12.1.    Retail Pharmacy Market Overview, by Region Segment. 88

12.1.1. Alabama  88

12.1.2. Alaska  88

12.1.3. Arizona  88

12.1.4. Arkansas  88

12.1.5. California  88

12.1.6. Colorado   88

12.1.7. Connecticut  88

12.1.8. Delaware   88

12.1.9. Florida  88

12.1.10.                            Georgia. 88

12.1.11.                            Hawaii 88

12.1.12.                            Idaho. 88

12.1.13.                            Illinois. 88

12.1.14.                            Indiana. 88

12.1.15.                            Iowa. 88

12.1.16.                            Kansas. 88

12.1.17.                            Kentucky[B]. 88

12.1.18.                            Louisiana. 88

12.1.19.                            Maine. 88

12.1.20.                            Maryland. 88

12.1.21.                            Massachusetts[B]. 88

12.1.22.                            Michigan. 88

12.1.23.                            Minnesota. 88

12.1.24.                            Mississippi 88

12.1.25.                            Missouri 88

12.1.26.                            Montana. 88

12.1.27.                            Nebraska. 88

12.1.28.                            Nevada. 88

12.1.29.                            New Hampshire. 88

12.1.30.                            New Jersey. 88

12.1.31.                            New Mexico. 88

12.1.32.                            New York. 89

12.1.33.                            North Carolina. 89

12.1.34.                            North Dakota. 89

12.1.35.                            Ohio. 89

12.1.36.                            Oklahoma. 89

12.1.37.                            Oregon. 89

12.1.38.                            Pennsylvania[B]. 89

12.1.39.                            Rhode Island. 89

12.1.40.                            South Carolina. 89

12.1.41.                            South Dakota. 89

12.1.42.                            Tennessee. 89

12.1.43.                            Texas. 89

12.1.44.                            Utah. 89

12.1.45.                            Vermont. 89

12.1.46.                            Virginia[B]. 89

12.1.47.                            Washington. 89

12.1.48.                            West Virginia. 89

12.1.49.                            Wisconsin. 89

12.1.50.                            Wyoming. 89

Chapter No. 13 :……… Company Profiles. 90

13.1.    CVS Health   90

13.1.1. Company Overview.. 90

13.1.2. Service Portfolio. 91

13.1.1. Financial Overview.. 91

13.2.    Walgreens Boots Alliance, Inc. 92

13.2.1. Company Overview.. 92

13.2.2. Service Portfolio. 93

13.2.3. Financial Overview.. 93

13.3.    Walmart Inc. 94

13.3.1. Company Overview.. 94

13.3.2. Service Portfolio. 95

13.3.3. Financial Overview.. 95

13.4.    Rite Aid Corporation. 96

13.4.1. Company Overview.. 96

13.4.2. Service Portfolio. 97

13.4.3. Financial Overview.. 97

13.5.    The Kroger Co. 98

13.5.1. Company Overview.. 98

13.5.2. Service Portfolio. 99

13.5.3. Financial Overview.. 99

13.6.    Costco Wholesale. 100

13.6.1. Company Overview.. 100

13.6.2. Service Portfolio. 101

13.6.3. Financial Overview.. 101

13.7.    CVS Health   102

13.8.    Walgreens Boots Alliance. 102

13.9.    Walmart Inc. 102

13.10.  Rite Aid   102

13.11.  Kroger Pharmacy. 102

13.12.  Costco Wholesale. 102

13.13.  Cigna  102

13.14.  Humana  102

13.15.  United Health Group. 102

13.16.  Publix  102

13.17.  Albertsons Companies. 102

13.18.  BrightSpring Health Services. 102

13.19.  PANTHERx Rare Pharmacy. 102

13.20.  Ahold Delhaize   102

13.21.  Centene   102

Chapter No. 14 :……… Research Methodology. 103

14.1.    Research Methodology. 103

14.2.    Phase I – Secondary Research. 104

14.3.    Phase II – Data Modeling. 104

Company Share Analysis Model 105

Revenue Based Modeling. 105

14.4.    Phase III – Primary Research. 106

14.5.    Research Limitations. 107

Assumptions. 107

List of Figures

FIG NO. 1……….. U.S. Retail Pharmacy Market Revenue, 2018 – 2032 (USD Billion) 19

FIG NO. 2……….. Porter’s Five Forces Analysis for U.S. Retail Pharmacy Market 30

FIG NO. 3……….. U.S. Retail Prescriptions, 2013 to 2025 (Billion) 32

FIG NO. 4……….. Company Share Analysis, 2023. 34

FIG NO. 5……….. Company Share Analysis, 2023. 35

FIG NO. 6……….. Company Share Analysis, 2023. 36

FIG NO. 7……….. Retail Pharmacy Market – Company Revenue Market Share, 2023. 37

FIG NO. 8……….. Company Assessment Metrics. 40

FIG NO. 9……….. Shifting Consumer Preferences. 41

FIG NO. 10……… Factors Influencing Decision. 42

FIG NO. 11……… Opportunities Tailored to the Unique Strengths of Each Type of Retail Pharmacy. 43

FIG NO. 12……… Retail Pharmacy Market Revenue Share, By Type of Pharmacy, 2023 & 2032. 46

FIG NO. 13……… Market Attractiveness Analysis, By Type of Pharmacy. 48

FIG NO. 14……… Incremental Revenue Growth Opportunity by Type of Pharmacy, 2024 – 2032. 49

FIG NO. 15……… Retail Pharmacy Market Revenue, By Type of Pharmacy, 2018, 2023, 2027 & 2032. 50

FIG NO. 16……… U.S. Retail Pharmacy Market for Chain Pharmacies, Revenue (USD Billion) 2018 – 2032. 51

FIG NO. 17……… U.S. Retail Pharmacy Market for Independent Pharmacies, Revenue (USD Billion) 2018 – 2032. 52

FIG NO. 18……… U.S. Retail Pharmacy Market for Hospital Pharmacies, Revenue (USD Billion) 2018 – 2032. 53

FIG NO. 19……… U.S. Retail Pharmacy Market for Mail Order Pharmacies, Revenue (USD Billion) 2018 – 2032. 54

FIG NO. 20……… U.S. Retail Pharmacy Market for Online Pharmacies, Revenue (USD Billion) 2018 – 2032. 55

FIG NO. 21……… Retail Pharmacy Market Revenue Share, By Type of Prescription, 2023 & 2032. 56

FIG NO. 22……… Market Attractiveness Analysis, By Type of Prescription. 57

FIG NO. 23……… Incremental Revenue Growth Opportunity by Type of Prescription, 2024 – 2032. 58

FIG NO. 24……… Retail Pharmacy Market Revenue, By Type of Prescription, 2018, 2023, 2027 & 2032. 59

FIG NO. 25……… U.S. Retail Pharmacy Market for Prescription Drugs (Rx), Revenue (USD Billion) 2018 – 2032. 60

FIG NO. 26……… U.S. Retail Pharmacy Market for Over-the-Counter (OTC) Drugs, Revenue (USD Billion) 2018 – 2032  61

FIG NO. 27……… Retail Pharmacy Market Revenue Share, By Product Type, 2023 & 2032. 62

FIG NO. 28……… Market Attractiveness Analysis, By Product Type. 64

FIG NO. 29……… Incremental Revenue Growth Opportunity by Product Type, 2024 – 2032. 65

FIG NO. 30……… Retail Pharmacy Market Revenue, By Product Type, 2018, 2023, 2027 & 2032. 66

FIG NO. 31……… U.S. Retail Pharmacy Market for Generic Drugs, Revenue (USD Billion) 2018 – 2032. 67

FIG NO. 32……… U.S. Retail Pharmacy Market for Branded Drugs, Revenue (USD Billion) 2018 – 2032. 68

FIG NO. 33……… Retail Pharmacy Market Revenue Share, By Application, 2023 & 2032. 69

FIG NO. 34……… Market Attractiveness Analysis, By Application. 71

FIG NO. 35……… Incremental Revenue Growth Opportunity by Application, 2024 – 2032. 72

FIG NO. 36……… Retail Pharmacy Market Revenue, By Application, 2018, 2023, 2027 & 2032. 73

FIG NO. 37……… U.S. Retail Pharmacy Market for Cardiovascular, Revenue (USD Billion) 2018 – 2032. 74

FIG NO. 38……… U.S. Retail Pharmacy Market for Central Nervous System, Revenue (USD Billion) 2018 – 2032. 75

FIG NO. 39……… U.S. Retail Pharmacy Market for Gastrointestinal, Revenue (USD Billion) 2018 – 2032. 76

FIG NO. 40……… U.S. Retail Pharmacy Market for Oncology, Revenue (USD Billion) 2018 – 2032. 77

FIG NO. 41……… U.S. Retail Pharmacy Market for Others, Revenue (USD Billion) 2018 – 2032. 78

FIG NO. 42……… Retail Pharmacy Market Revenue Share, By Customer Segment, 2023 & 2032. 79

FIG NO. 43……… Market Attractiveness Analysis, By Customer Segment 81

FIG NO. 44……… Incremental Revenue Growth Opportunity by Customer Segment, 2024 – 2032. 82

FIG NO. 45……… Retail Pharmacy Market Revenue, By Customer Segment, 2018, 2023, 2027 & 2032. 83

FIG NO. 46……… U.S. Retail Pharmacy Market for Pediatric, Revenue (USD Billion) 2018 – 2032. 84

FIG NO. 47……… U.S. Retail Pharmacy Market for Adults, Revenue (USD Billion) 2018 – 2032. 85

FIG NO. 48……… U.S. Retail Pharmacy Market for Geriatric, Revenue (USD Billion) 2018 – 2032. 86

FIG NO. 49……… Research Methodology – Detailed View.. 102

FIG NO. 50……… Research Methodology. 103

 

 

List of Tables

TABLE NO. 1. :…. U.S. Retail Pharmacy Market: Snapshot 18

TABLE NO. 2. :…. Drivers for the Retail Pharmacy Market: Impact Analysis. 21

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

 

What is the projected growth rate of the US retail pharmacy market from 2024 to 2032?

The U.S. demand for the Retail Pharmacy Market was valued at USD 569.79 Billion in 2023 is expected to reach USD 948.80 Billion in 2032 growing at a CAGR of 5.76% between 2024 and 2032. This anticipated expansion is largely attributed to the increasing demand for pharmaceutical products and services across the nation, which is driven by demographic changes, a rise in chronic diseases, and advancements in pharmaceutical offerings.

What services do retail pharmacies in the US provide?

Retail pharmacies in the US offer a comprehensive range of products and services vital to the healthcare system. These include the distribution of prescription drugs, over-the-counter (OTC) medications, health and wellness items, and an array of health-related services such as vaccinations and health screenings. Their role extends beyond just medication distribution to being key players in promoting public health and wellness through accessible health care services across both urban and rural communities.

How have technological innovations impacted the US retail pharmacy market?

Technological innovations have significantly transformed the US retail pharmacy market, introducing heightened levels of consumer access and convenience. The advent of digital solutions like telepharmacy, online pharmacies, and app-based delivery services has revolutionized how pharmacy services are accessed and delivered. These advancements facilitate easier and more efficient interactions between consumers and pharmacy services, thereby enhancing the overall customer experience and enabling pharmacies to cater to a broader audience.

What factors contribute to the competitive landscape of the US retail pharmacy market?

The competitive landscape of the US retail pharmacy market is shaped by several factors, including service diversity, customer experience, and technological advancements. As the market evolves, competition among major pharmacy chains, independent outlets, and online platforms intensifies. Differentiation among these entities increasingly hinges on their ability to offer a wide range of services, exceptional customer service, and innovative digital solutions. This dynamic competition underscores the market’s vibrancy and its continual adaptation to meet the changing needs of consumers.

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