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