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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 | Dec 2015

Side effects: Despite profit setbacks, healthcare reform and an aging population will spur growth

IBISWorld’s Pharmacies & Drug Stores market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Industry Statistics & Market Size
Revenue
$265bn
Annual Growth 10-15
1.4%
Annual Growth 15-20
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Profit
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Employment
669,490
Businesses
26,081
Industry Analysis & Industry Trends

The Pharmacies and Drug Stores industry has exhibited growth despite some negative side effects from the regulatory environment. The industry has contended with PBMs not updating their payment benchmarks, thus causing the industry to not receive 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 due to the permeation of generic drugs in the market. In the next five years, industry revenue is forecast to grow, as healthcare reform will increase the number of individuals with health insurance... 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 2015, industry revenue is anticipated to grow at an annualized rate of 1.4% to $264.5 billion, including 2.0% growth in 2015... 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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