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 - Industry Analysis Chapter
Over the past five years, many pharmacies and drug stores have included more preventive care services in their product portfolio, which has bolstered industry revenue. Many pharmacies and drug stores have included flu vaccines, immunizations and health screenings in their service offering, as well as monitoring patients’ chronic conditions. Furthermore, as more individuals obtained health insurance due to healthcare reform, more patients were able to afford visits to their healthcare provider. As a result, more individuals were aware of their health conditions, prompting prescription sales volumes and benefiting the industry.
In the five years to 2016, industry revenue is anticipated to grow at an annualized rate of 2.3% to $278.1 billion, including 4.2% growth in 2016... purchase to read more