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US Pharmacy Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: December, 2022
No of Pages: 164
Delivery Format: PDF+ Excel

$2,950.00

U.S. Pharmacy Market
1) Introduction
The U.S. pharmacy market is one of the most dynamic and rapidly changing markets in the healthcare industry. In recent years, the market has seen significant consolidation, as well as new entrants and business models. The pharmacy market is expected to continue to undergo significant change in the coming years.

The U.S. pharmacy market is made up of several different types of pharmacies, including chain pharmacies, independent pharmacies, mail order pharmacies, and online pharmacies. Chain pharmacies are the largest type of pharmacy, with over 50% of the market share. The largest chain pharmacies in the United States are CVS Health, Walgreens, and Rite Aid. Independent pharmacies are the second largest type of pharmacy, with around 30% of the market share. The largest independent pharmacy in the United States is Pharmaca. Mail order pharmacies are a small but growing type of pharmacy, with around 10% of the market share. The largest mail order pharmacy in the United States is Express Scripts. Online pharmacies are a small but growing type of pharmacy, with around 5% of the market share. The largest online pharmacy in the United States is MailMyPrescriptions.

The pharmacy market is expected to grow at a compound annual growth rate (CAGR) of 3.5% from 2016 to 2021, to reach a value of $329.7 billion. The growth of the pharmacy market is being driven by a number of factors, including the aging population, the increasing prevalence of chronic diseases, the growing number of prescriptions being written, and the increasing use of mail order and online pharmacies.

The aging population is one of the main drivers of growth in the pharmacy market. The number of Americans aged 65 and over is expected to grow from 46 million in 2016 to 58 million in 2030. This aging population is more likely to have chronic diseases, such as hypertension, diabetes, and high cholesterol, which require regular medication. In addition, the aging population is more likely to take multiple medications, which also drives up demand for pharmacy services.

The increasing prevalence of chronic diseases is also driving growth in the pharmacy market. The number of Americans with one or more chronic diseases is expected to grow from 133 million in 2015 to 157 million by 2020

2) The current state of the US pharmacy market
The U.S. pharmacy market is a highly competitive industry with numerous players. The top five companies in the market are CVS Health, Walgreens Boots Alliance, Rite Aid, Express Scripts, and OptumRx. The market is expected to grow at a compound annual growth rate (CAGR) of 4.5% from 2018 to 2025, reaching $426.3 billion by 2025.

The pharmacy market is driven by the aging population, the increasing prevalence of chronic diseases, and the growing demand for specialty drugs. The aging population is the largest driver of growth in the pharmacy market, as the 65+ age group is the largest consumers of prescription drugs. The growing prevalence of chronic diseases is also driving market growth, as the number of Americans living with chronic conditions such as diabetes and hypertension is on the rise. The growing demand for specialty drugs is another key driver of market growth, as these drugs are used to treat conditions that are typically chronic, rare, or complex.

The competitive landscape of the U.S. pharmacy market is highly fragmented, with the top five companies accounting for less than 50% of the market. The remaining 50% of the market is split among a large number of small and midsize players. The top five companies in the market are CVS Health, Walgreens Boots Alliance, Rite Aid, Express Scripts, and OptumRx.

The U.S. pharmacy market is expected to grow at a compound annual growth rate (CAGR) of 4.5% from 2018 to 2025, reaching $426.3 billion by 2025. The market is driven by the aging population, the increasing prevalence of chronic diseases, and the growing demand for specialty drugs.

3) The challenges facing the US pharmacy market
The United States pharmacy market is facing several challenges. These challenges include the following:

1. The rising cost of prescription drugs

The cost of prescription drugs has been rising steadily over the past few years. This is a major challenge for the pharmacy market, as it makes it difficult for patients to afford their medications.

2. The increasing number of Americans with high deductible health plans

High deductible health plans are becoming more common in the United States. This means that patients have to pay more out-of-pocket for their healthcare costs. This is a challenge for the pharmacy market because it means that patients are less likely to fill their prescriptions.

3. The declining reimbursement rates for pharmacies

Reimbursement rates for pharmacies have been declining in recent years. This is a challenge for the pharmacy market because it puts pressure on pharmacies to keep their costs down.

4. The increasing number of Americans who are uninsured

The number of Americans who are uninsured is on the rise. This is a challenge for the pharmacy market because it means that there are more people who cannot afford to pay for their medications.

5. The changing landscape of the healthcare system

The healthcare system in the United States is undergoing a major transformation. This is a challenge for the pharmacy market because it means that there are new players and new rules in the market.

4) The future of the US pharmacy market
The future of the U.S. pharmacy market looks promising. The industry is expected to grow at a compound annual rate of 3.6% between 2016 and 2025, reaching a total value of $453 billion. This growth will be driven by a number of factors, including an aging population, the increasing prevalence of chronic diseases, and the expanded use of prescription drugs.

The aging population is one of the most important drivers of growth in the pharmacy industry. As people age, they are more likely to take multiple prescription medications and to have chronic health conditions that require frequent trips to the pharmacy. The aging population is also more likely to have insurance coverage that covers prescription drugs.

The increasing prevalence of chronic diseases is another important driver of growth in the pharmacy industry. Chronic diseases are long-term conditions that can be managed but not cured. The most common chronic diseases include heart disease, diabetes, and cancer. These diseases often require the use of multiple prescription medications. As the prevalence of chronic diseases increases, so does the demand for pharmacy services.

The expanded use of prescription drugs is another factor that is driving growth in the pharmacy industry. Prescription drugs are now used to treat a wide variety of conditions, including mental health disorders, pain, and chronic diseases. The increased use of prescription drugs has led to more people using pharmacy services.

The future of the pharmacy industry looks promising. The industry is expected to grow at a compound annual rate of 3.6% between 2016 and 2025, reaching a total value of $453 billion. This growth will be driven by a number of factors, including an aging population, the increasing prevalence of chronic diseases, and the expanded use of prescription drugs.

LIST OF KEY COMPANIES PROFILED:

    • CVS Health Corporation (Rhode Island, U.S.)
    • Walgreens Boots Alliance, Inc. (Illinois, U.S.)
    • Cigna (Express Scripts) (Connecticut, U.S.)
    • UnitedHealth Group (Optum) (Minnesota, U.S.)
    • Walmart Inc. (Arkansas, U.S.)
    • The Kroger Company (Ohio, U.S.)
    • Rite Aid Corporation (Pennsylvania, U.S.)
    • Albertsons Companies, Inc. (Idaho, U.S.)

Report Scope & Segmentation

 

  ATTRIBUTE

 

 

  DETAILS

 

Study Period

 

2017-2028

 

Base Year

 

2020

 

Estimated Year

 

2021

 

Forecast Period

 

2028

 

Historical Period

 

2017-2019

 

Unit

 

Value (USD Billion)

 

Segmentation

 

Type, Therapy Class, and Setting

 

 

By Type

 

 

    • Branded
    • Generics
 

By Therapy Class

 

 

 

 

    • Oncology
    • Anti-diabetics
    • Autoimmune diseases
    • Respiratory
    • Pain
    • Nervous System Disorders
    • Dermatology
    • Antihypertensive
    • Mental Health
    • HIV Antivirals
    • Multiple Sclerosis
    • Anticoagulants
    • Other Cardiovascular
    • ADHD
    • GI Products
    • Viral Hepatitis
    • Sex Hormones
    • Antibacterial
    • Hormonal Contraception
    • Ophthalmology
    • Others
 

By Setting

 

    • Retail Pharmacies
    • Mail Order/Online Pharmacies
    • Others (Non-retail Settings)
 

By Type

 

 

    • Branded
    • Generics
 

By Therapy Class

 

 

 

 

    • Oncology
    • Anti-diabetics
    • Autoimmune diseases
    • Respiratory
    • Pain
    • Nervous System Disorders
    • Dermatology
    • Antihypertensive
    • Mental Health
    • HIV Antivirals
    • Multiple Sclerosis
    • Anticoagulants
    • Other Cardiovascular
    • ADHD
    • GI Products
    • Viral Hepatitis
    • Sex Hormones
    • Antibacterial
    • Hormonal Contraception
    • Ophthalmology
    • Others
 

By Setting

 

    • Retail Pharmacies
    • Mail Order/Online Pharmacies
    • Others (Non-retail Settings)
    • CVS Health Corporation (Rhode Island, U.S.)
    • Walgreens Boots Alliance, Inc. (Illinois, U.S.)
    • Cigna (Express Scripts) (Connecticut, U.S.)
    • UnitedHealth Group (Optum) (Minnesota, U.S.)
    • Walmart Inc. (Arkansas, U.S.)
    • The Kroger Company (Ohio, U.S.)
    • Rite Aid Corporation (Pennsylvania, U.S.)
    • Albertsons Companies, Inc. (Idaho, U.S.)

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