Pharmacy Usual Items - United States

United States

Highlights

Revenue in the Pharmacy Usual Items market is projected to reach US$2.63bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.92%, resulting in a market volume of US$3.34bn 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$7.68 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Pharmacy Usual Items market in United States has been experiencing significant growth in recent years.

Customer preferences: Customers in the United States have shown a strong preference for purchasing pharmacy usual items such as over-the-counter medications, vitamins, and personal care products. This can be attributed to several factors. Firstly, the convenience of being able to purchase these items without a prescription is highly appealing to consumers. Additionally, the wide availability of these products in various retail channels, including pharmacies, supermarkets, and online platforms, makes them easily accessible to a large number of consumers. Furthermore, the increasing focus on health and wellness among Americans has led to a greater demand for products that support overall well-being.

Trends in the market: One of the key trends in the Pharmacy Usual Items market in United States is the growing popularity of natural and organic products. Customers are increasingly seeking out products that are made from natural ingredients and free from harmful chemicals. This trend is driven by a desire for healthier and more sustainable options. As a result, many manufacturers and retailers are expanding their offerings to include a wider range of natural and organic products to cater to this demand. Another trend in the market is the rising popularity of online shopping for pharmacy usual items. The convenience and ease of online shopping have made it a preferred choice for many consumers. Online platforms offer a wide selection of products, competitive prices, and the convenience of doorstep delivery. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increase in online shopping across all sectors, including the pharmacy market.

Local special circumstances: The United States has a highly competitive retail landscape, with a large number of pharmacies, supermarkets, and online platforms vying for market share. This intense competition has led to price wars and promotional activities, which benefit consumers by driving down prices and increasing affordability. Additionally, the presence of major pharmacy chains, such as CVS Health and Walgreens, has contributed to the growth of the market by offering a wide range of pharmacy usual items in their stores.

Underlying macroeconomic factors: The strong economy in the United States has played a significant role in the growth of the Pharmacy Usual Items market. With a high disposable income and increased consumer spending, Americans have more money to allocate towards healthcare and wellness products. This has translated into higher demand for pharmacy usual items. Furthermore, the aging population in the United States has also contributed to the growth of the market. As the population ages, there is a greater need for medications and health-related products, driving the demand for pharmacy usual items. In conclusion, the Pharmacy Usual Items market in United States is experiencing growth due to customer preferences for convenient and accessible products, the popularity of natural and organic options, the rise of online shopping, competitive retail landscape, and underlying macroeconomic factors such as a strong economy and an aging population.

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.