Market Insights report
Worldwide, around 1.32 trillion USD in revenue was generated by pharmacies in 2022. Especially in the wake of the COVID-19 pandemic, pharmacies represented an important point of contact. Despite a slight drop in sales in 2020 compared to the previous year, the industry was able to recover much faster than the hospital industry, for example. It can be assumed that pharmacies will continue to be the most frequent point of contact in healthcare in the coming years and the market is expected to show an annual growth rate (CAGR 2023-2028) of 4.35%.
What's included:
The Pharmacies market consists of two segments: Prescriptions Drugs and OTC Products. The Prescription Drugs segment covers all products – mainly pharmaceuticals – that are only available on prescription. The OTC Products segment comprises all products that are sold over the counter (OTC), including pharmaceuticals, medical devices, and other items that are generally found in a pharmacy. This report from the series of Health Market Outlook reports gives an overview of the Pharmacies market from an international perspective. Besides all relevant market figures like total revenues for the years from 2016 to 2027, we furthermore give detailed insights into current trends and drivers as well as online purchase shares and important background information on the Pharmacies market. The Pharmacies market was valued at 1.32 trillion USD in 2022 and is expected to grow at an annual rate of 4.35% from 2023 to 2028. The US and China account for the majority of the Pharmacies market in 2022, with US$356.60 billion and US$200.80 billion in revenues respectively.
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