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Pharmacies & Drug Stores in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Pharmacies & Drug Stores Market Research Report | NAICS 44611 | Apr 2016

Doctor's orders: Despite profit setbacks, healthcare reform and an aging population will encourage growth

IBISWorld’s Pharmacies & Drug Stores market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Industry Statistics & Market Size
Revenue
$278bn
Annual Growth 11-16
2.3%
Annual Growth 16-21
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Profit
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Employment
723,757
Businesses
27,266
Industry Analysis & Industry Trends

The Pharmacies and Drug Stores industry has exhibited growth despite some negative side effects from the regulatory environment. For example, the industry has grappled with changing generic drug prices to reflect reimbursement rates. As a result of this trend, the industry has contended with PBMs not updating their payment benchmarks, thus the industry has not received an adjusted reimbursement rate for their previous prescription sales, which has cut into industry revenue. Nevertheless, the patent cliff, which caused many blockbuster drugs to lose their patent exclusivity, has bolstered industry revenue. In the five years to 2021, healthcare reform will increase the number of individuals with health insurance, which increases the volume of pharmaceutical sales... purchase to read more

Industry Report - Starting a New Business Chapter

The Pharmacies and Drug Stores industry is typified by moderate barriers to entry, although barriers to entry are increasing. Due to industry consolidation, which allows larger players to develop large networks and favorable supply-side contracts with pharmaceutical manufacturers, the industry is expected to have more barriers to entry over the next five years. Further offsetting potential industry entrants, the industry is subject to federal and state laws that make retailing certain products subject to stringent regulations.

Market concentration raises barriers

Large drug store chains dominate the market; however, no single operator has control over pricing, advertising, distribution or customer loyalty... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Pharmacies & Drug Stores Industry?

Pharmacies and drug stores retail a range of prescription and over-the-counter medications, health and beauty items, toiletries and consumable goods directly to consumers on a walk-in basis. Industry companies may also provide basic health and photo processing services. The industry includes retail stores with a pharmacy but excludes mail-order retailers, hospitals and clinics.

Industry Products
Branded prescription drugs Generic drugs Nonprescription medicines Personal health supplies Groceries and food itemsVitamins, minerals and dietary supplementsCosmetics
 
Industry Activities
Preparing and selling prescription and nonprescription drugs and medicinesRetailing basic consumable goodsSelling other miscellaneous items, such as candy, cosmetics, magazines and light refreshmentsAdvising customers on the use of both prescription and over-the-counter drugs


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