$629.7bn
$XX.Xbn
1m
46,230
$XX.Xbn
The Pharmacies and Drug Stores industry consists of stores that retail a range of prescription and over-the-counter (OTC) medications, health and beauty items, toiletries and consumable goods. Stores exhibited revenue growth in recent years, as the number of people with private health insurance remained high, filling more prescription medications. The burgeoning elderly population boosted performance, as this consumer bracket requires medication to address chronic ailments, resulting in higher volumes of foot traffic. Revenue for pharmacies and drug stores is expected to swell at a CAGR of 4.5% to $629.7 billion through the end of 2024, including growth of 1.9% in 2024 alone. Growing access to insurance has also boosted profit, which benefits sales of highly profitable prescription drugs.
Industry revenue has grown at a CAGR of 4.5 % over the past five years, to reach an estimated $629.7bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Walgreens Boots Alliance, Inc. | 119,220.0 | 4,537.4 | 3.8 | |
Cvs Health Corporation | 104,661.5 | 7,053.3 | 6.7 | |
Rite Aid Corp | 17,110.2 | 292.6 | 1.7 |
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Industry revenue is measured across several distinct product and services lines, including Branded prescription drugs , Generic drugs and Nonprescription medicines . Branded prescription drugs is the largest segment of the Pharmacies & Drug Stores in the US.
Generic drugs account for the largest share of sales by volume
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 excludes mail-order retailers, hospitals and clinics.
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NAICS 44611 - Pharmacies & Drug Stores in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Pharmacies were deemed essential businesses, which fueled revenue growth for stores during the height of the pandemic. Many drug stores and pharmacies bulked up their grocery...
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Generic drugs constitute the bulk of all sales. Their prominence cuts into industry profitability, as they're significantly less profitable than branded drugs.
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Pharmacies take advantage of proximity to key downstream healthcare-related businesses. Stores benefit from being near hospitals, nursing homes or healthcare complexes becaus...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Due to low product differentiation, the industry is highly price-competitive. Many pharmacies and drug stores have consolidated in response to this high competition.
Learn about the performance of the top companies in the industry.
Walgreens agreed to acquire 30.0% of McKesson Corporation’s stake in GEHE Pharma Handel and Alliance Healthcare Deutschland joint venture. This helped expand Walgreens's over...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
A growing number of individuals aged 65 and over represents a consistent and steady stream of demand. Older adults are more likely to require medication.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
The prevalence of low-priced generic drugs has cut into industry profitability. Consumers recognize the benefits of using generic drugs to keep costs low while granting them ...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Pharmacies & Drug Stores in the US industry in United States is $629.7bn in 2024.
There are 46,230 businesses in the Pharmacies & Drug Stores in the US industry in United States, which has grown at a CAGR of 2.9 % between 2019 and 2024.
The market size of the Pharmacies & Drug Stores in the US industry in United States has been growing at a CAGR of 4.5 % between 2019 and 2024.
Over the next five years, the Pharmacies & Drug Stores in the US industry in United States is expected to grow.
The biggest companies operating in the Pharmacies & Drug Stores market in United States are Walgreens Boots Alliance, Inc., Cvs Health Corporation and Rite Aid Corp
Branded prescription drugs and Generic drugs are part of the Pharmacies & Drug Stores in the US industry.
The company holding the most market share in United States is Walgreens Boots Alliance, Inc..
The level of competition is high and increasing in the Pharmacies & Drug Stores in the US industry in United States.