Convenient care: An increase in disposable income in Massachusetts will boost industry demand

The Pharmacies and Drug Stores industry in Massachusetts increased steadily over the five years to 2018. Pharmacy and drug store operators in the state benefit from favorable macroeconomic conditions, such as rising total health expenditure and per capita disposable income. In Massachusetts, disposable income is anticipated to increase an annualized 3.4% and the number of individuals over the age of 65 is expected to increase at an annualized rate of 2.7% over the five years to 2018. As a result, industry revenue in Massachusetts is estimated to increase at an annualized rate of 0.8% to $7.7 billion during the same five-year period, including a 1.0% increase in 2018 alone...purchase to read more.

Industry Statistics & Market Size
Revenue
$8bn
Annual Growth 13-18
0.8%
Forecast Growth 18-23
Profit
Employment
20,206
Businesses
971

Industry Threats & Opportunities

  • State operators benefit from rising total health expenditure and per capita disposable income
  • Industry Report - Industry Investment Chapter

    ***This section is not used for US State reports***...purchase to read more.

    Additional Insights for the Pharmacies & Drug Stores in Massachusetts Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Pharmacies & Drug Stores in Massachusetts Industry are

  • Ability to control stock on hand
  • Participation in pharmacy benefit management (PBM) networks
  • Superior financial management and debt management
  • IBISWorld analysts also discuss how external factors such as Number of adults aged 65 and older in Massachusetts and Per capita disposable income in Massachusetts in the Pharmacies & Drug Stores in Massachusetts industry impact industry performance..

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    What's in this report

    What is the Pharmacies & Drug Stores in Massachusetts 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
  • Brand Prescription Drugs
  • Generic Drugs
  • Nonprescription Drugs
  • Personal Health
  • Groceries
  • Cosmetics
  • Vitamins, minerals and dietary supplements
  • Industry Activities
  • Preparing and selling prescription and nonprescription drugs and medicines
  • Retailing basic consumable goods
  • Selling other miscellaneous items, such as candy, cosmetics, magazines and light refreshments
  • Advising customers on the use of both prescription and over-the-counter drugs
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Number of adults aged 65 and older in Massachusetts
  • Per capita disposable income in Massachusetts
  • Number of physician visits
  • Regulation for the Vitamin & Supplement Manufacturing industry
  • Federal funding for Medicare and Medicaid

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Pharmacies & Drug Stores in Massachusetts Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Brand Name Pharmaceutical Manufacturing
  • Camera & Film Wholesaling
  • Chocolate Production
  • Cosmetic & Beauty Products Manufacturing
  • Drug, Cosmetic & Toiletry Wholesaling
  • Generic Pharmaceutical Manufacturing

  • Products & Services
  • Brand Prescription Drugs
  • Generic Drugs
  • Other
  • Personal Health
  • Groceries
  • Nonprescription Drugs
  • Cosmetics
  • Vitamins, minerals and dietary supplements
  • Chart: Pharmacies & Drug Stores in Massachusetts Industry Products and Services Segmentation

  • Major Markets
  • Consumers aged 45-64
  • Consumers aged 18-44
  • Consumers aged 65 and older
  • Consumers aged 17 and younger
  • Chart: Major Market Segmentation for the Pharmacies & Drug Stores in Massachusetts Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Pharmacies & Drug Stores in Massachusetts

  • Basis of Competition
    Barriers to Entry
    CVS Health Corporation, Rite Aid Corporation, Walgreens Boots Alliance Inc., Conley's Drug Store, Costco Wholesale Corp., Walmart Inc.,
  • Table: CVS Health Corporation - financial performance
  • Table: Rite Aid Corporation - financial performance
  • Table: Walgreens Boots Alliance Inc. - financial performance
  • Table: Conley's Drug Store - financial performance
  • Table: Costco Wholesale Corp. - financial performance
  • Table: Walmart Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Pharmacies & Drug Stores in Massachusetts Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Pharmacies & Drug Stores in Massachusetts Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Total health expenditure (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Formulary
  • A list of medicines that are covered by a health insurance plan and always meet Medicare's requirements.
  • Over-The-Counter (Otc) Medications
  • Medicine that can be purchased without a prescription.
  • Pharmacy Benefit Manager (Pbm)
  • A third-party administrator of prescription drug programs.
  • Prescription Drug
  • A licensed medicine that can only be obtained with a doctor's approval.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Pharmacies & Drug Stores in Massachusetts provides up-to-date sales and market data, allowing you to identify the product and customer segments driving revenue growth. The report identifies the leading companies in the industry, and offers strategic analysis of the key factors influencing the market. Our data forecasts are accompanied by full analysis to illustrate how the market is responding to dominant and emerging trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Pharmacies & Drug Stores in Massachusetts:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Pharmacies & Drug Stores in Massachusetts market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Pharmacies & Drug Stores in Massachusetts, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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