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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

The Pharmacies & Drug Stores market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

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 - 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

 


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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