What is Pharmaceutical Retail Chain Market?
A pharmaceutical retail chain means any pharmaceutical company which has multiple medical stores or pharmacies. Pharmacy retail is used to the sale of pharmaceutical products, which include over-the-counter (OTC) drugs and prescription drugs. Pharmacy retail stores also sell various FMCG products along with pharmaceutical products and their related services. Covid-19 has changed the definition of health to a predict-and-prevent model. An increase in demand for better quality healthcare and focus on wellness is now single-handedly driving up the growth of organized retail pharmacies
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|Key Companies Profiled||Walgreens Company (United States), CVS Health (United States), Walmart (United States), Rite Aid Corp (United States), WALGREENS BOOTS ALLIANCE (United States), Fortis Healthworld (India), The Kroger (United States), Humana Pharmacy Solutions (United States), Botanics (India) and Liz Earle (United Kingdom)|
The market study is being classified by Type (Retail Pharmacy, Hospital Pharmacy, Clinic Pharmacy, Home care Pharmacy and Others) and major geographies with country level break-up.
The global pharmaceutical retail chain market is fragmented due to its benefits include an increase in the number of pharmacies, better access, lower unit costs, extensive health insurance contract, and lower costs due to economies of scale. So the players are focusing on investing in artificial intelligence tools to improve the service. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Pharmaceutical Retail Chain market throughout the forecasted period. Walgreens Company (United States), CVS Health (United States), Walmart (United States), Rite Aid Corp (United States), WALGREENS BOOTS ALLIANCE (United States), Fortis Healthworld (India), The Kroger (United States), Humana Pharmacy Solutions (United States), Botanics (India) and Liz Earle (United Kingdom) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Kaiser Permanente (United States), Rite Aid Corporation (United States), Cigna/Express Scripts (United States) and Deep Healthcare Enterprises (India).
Analyst at AMA Research have segmented the market study of Global Pharmaceutical Retail Chain market by Type, Application and Region.
On the basis of geography, the market of Pharmaceutical Retail Chain has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increased Penetration of Health Insurance Highly Impacts the Growth of the Domestic Pharmaceuticals Sector
- Increasing number of Pharmacies in the Urban Area
- Increasing Demands due to the Awareness of Better Quality Health Care
- Consumers Increasing Inclination towards the Healthcare
- Technological Innovations in the Pharmaceutical Retail Chain
- Enhancement in Medical Infrastructure
- Concerns related to Pharmaceutical fraud
- Stringent regulation due to COVID-19
- Enhancement of Service towards customers' Holistic Wellness
- Implantation of the Artificial intelligence tools to Improve the Pharmaceutical Retail Chain
- Rising Opportunity from Generic Pharmaceuticals
- Lack of Transparency
- Lack of Proper Regulation and Supervision
Market Leaders and some development strategies
On 14th July 2021, Eli Lilly announced the acquisition of Promoter Technologies, a private Biotech company. Promoter Technologies enables the development of therapeutic peptides and proteins with tunable activity that can be controlled using small molecules. Promoter Technology's glucose-sensing insulin program which is based on proprietary molecular engineering of protein sensors platform shows significant promise and Lilly is excited to enhance the diabetic pipeline with the company’s innovative technology.
On 8th March 2022, Toyota Tsusho Corporation announced an acquisition of 30% shares in Goodlife Pharmacies which is East Africa’s leading retail African pharmacy chain. This acquisition makes Toyota Tsusho Corporation's first entry into the retail pharmacy industry in Africa. Toyota Tsusho Corporation further contributes in Goodlife Pharmacies to improving access to high-quality pharmaceuticals in east Africa and Toyota Tsusho seeks to contribute to the improvement of healthcare outcomes on the African continent
Key Target AudiencePharmaceutical Retail Chain, New Entrants, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Pharmaceutical Retail Chain Market?
"Increased Penetration of Health Insurance Highly Impacts the Growth of the Domestic Pharmaceuticals Sector
" is seen as one of major growth factors of Pharmaceutical Retail Chain Market in years to come.
2. Can we have customized study for Pharmaceutical Retail Chain Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. Which region will lead the Global Pharmaceutical Retail Chain Market?
United States will lead Pharmaceutical Retail Chain Market in coming years.