Research Nester published a report titled “Pharmacy Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers detailed overview of the global pharmacy market in terms of market segmentation by product, pharmacy type, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global pharmacy market to grow with a CAGR of ~8% over the forecast period, i.e., 2023 - 2033. The market is segmented by product into prescription, and OTC. Amongst these, the prescription segment is anticipated to hold the largest market size over the forecast period owing to the massive increase in chronic disorders across the globe, and rise in aged population.
The global pharmacy market is projected to extensively grow owing to the growing prevalence of autoimmune diseases, followed by the increasing geriatric population as increasing age most probably results in various kind of health issues. Besides this, increase in approved prescription drugs, and worldwide escalation in healthcare spending are some of the major factors anticipated to drive the growth of the market in the forecast period.
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Geographically, the global pharmacy market is segmented into five major regions comprising of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in the North America region is estimated to witness significant growth over the forecast period owing to the uprising count of various chronic diseases, presence of significant pharmacy chains, rising geriatric population, and notably growing trend of over-the-counter prescription drugs use in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Globally Increasing Prevalence of Chronic Disorders to Drive the Market Growth
The global prevalence of chronic diseases was increased by 59% by 2020.
Chronic diseases become more common as people grow old. Chronic diseases include heart disease, diabetes, stroke, cancer, and arthritis, among others. These conditions are the leading causes of disability and death worldwide. Thus, the health and quality of life are altered by chronic diseases. Such condition requires more care, timely treatment and a regular drug intake. Therefore, the surge in chronic disorders are fueling up the global pharmacy market growth.
However, risk of lawsuit filing, rigorous government regulations, and associated complications in the use of medicines and vaccines are expected to operate as key restraint to the growth of the global pharmacy market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global pharmacy market which includes company profiling of UnitedHealth Group, Well Pharmacy, Albertsons Companies, Inc., LloydsPharmacy Limited, Cigna, CVS Health Corporation, Walmart Inc., Walgreens Boots Alliance, Inc., The Kroger Co., Rite Aid Corp., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global pharmacy market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.
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