Pharmacy Usual Items - North America

North America

Highlights

Revenue in the Pharmacy Usual Items market is projected to reach US$14.22bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.20%, resulting in a market volume of US$18.32bn by 2029.
In global comparison, most revenue will be generated China (US$48.05bn in 2024).
In relation to total population figures, per person revenues of US$27.86 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Pharmacy Usual Items market in North America is experiencing steady growth and development due to several factors.

Customer preferences: Customers in North America have a strong preference for convenience and accessibility when it comes to purchasing pharmacy usual items. They value the ability to easily find and purchase products such as over-the-counter medications, personal care items, and health supplements. Online shopping has become increasingly popular, allowing customers to conveniently browse and purchase these items from the comfort of their own homes. Additionally, customers in North America are becoming more health-conscious and are actively seeking out products that promote wellness and self-care.

Trends in the market: One major trend in the Pharmacy Usual Items market in North America is the increasing demand for natural and organic products. Customers are becoming more aware of the potential harmful effects of certain ingredients and are seeking out alternatives that are perceived to be safer and more sustainable. This has led to a rise in the availability and popularity of natural and organic products in pharmacies across North America. Another trend in the market is the growing focus on personalized healthcare. Customers are looking for products that cater to their specific needs and preferences. This has led to an increase in the availability of customized products, such as vitamins and supplements tailored to individual health goals. Pharmacies are also offering personalized services, such as medication management and health consultations, to better meet the needs of their customers.

Local special circumstances: The Pharmacy Usual Items market in North America is influenced by the regulatory environment and healthcare system in each country. For example, in the United States, the market is heavily regulated by the Food and Drug Administration (FDA), which sets standards for the safety and efficacy of pharmaceutical products. This regulatory framework can impact the availability and marketing of certain products in the market. Another local special circumstance is the presence of large pharmacy chains in North America. These chains have a significant market share and can influence customer preferences and trends. They often offer competitive pricing, wide product selections, and convenient locations, attracting a large customer base.

Underlying macroeconomic factors: The growing population and aging demographics in North America contribute to the development of the Pharmacy Usual Items market. As the population increases and individuals live longer, there is a greater demand for healthcare products and services. This drives the growth of the pharmacy market, as customers seek out products to support their health and well-being. Additionally, economic factors such as disposable income and healthcare spending play a role in the development of the market. As disposable income increases, customers have more purchasing power to buy pharmacy usual items. Furthermore, increased healthcare spending, both by individuals and governments, can lead to greater investment in the pharmacy sector and the development of new products and services. In conclusion, the Pharmacy Usual Items market in North America is experiencing growth and development driven by customer preferences for convenience and accessibility, the demand for natural and organic products, and the focus on personalized healthcare. Local special circumstances, such as regulatory frameworks and the presence of large pharmacy chains, also influence the market. Underlying macroeconomic factors, including population growth, aging demographics, disposable income, and healthcare spending, contribute to the market's development.

Data coverage:

The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.