USA Pharmacy market is expected to reach US$ 706 million by 2030, with an annual growth rate of more than 3.9% says RationalStat
Wilmington, Delaware, Sept. 25, 2023 (GLOBE NEWSWIRE) — USA Pharmacy Market was valued at US$ 518 million in 2023 and is expected to grow at a significant CAGR of over 3.9% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
The pharmacy market in the US is expanding rapidly, thanks to a mix of healthcare requirements, demography, industry trends, and technology improvements. The United States’ population is ageing, with a substantial proportion of baby boomers reaching retirement age. Because older persons require more prescription prescriptions, the demand for pharmacy services rises.
Pharmacies now provide services other than drug dispensing. Many provide services such as medicine treatment management (MTM), immunizations, health screenings, and consultations, which increases their value in the healthcare ecosystem.
- According to a deep-dive market assessment by RationalStat, the USA Pharmacy market has been analyzed on the basis of market segments, including type, therapy class, setting and geography/regions (including West USA, Midwest USA, Northeast USA, South USA). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the USA Pharmacy market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the USA Pharmacy market. It also includes the industry’s current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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USA Pharmacy Market: Segmental and Market Share Analysis
- On the basis of type, in 2020, the branded pharmaceuticals segment held a commanding market share. The growing number of therapeutic regulatory approvals, combined with a strong pipeline of major players.
- On the basis of therapy class, in 2020, the autoimmune illnesses sector was the largest. The dominance is due to the rising prevalence of autoimmune illnesses in the US.
- On the basis of setting, in 2020, the retail pharmacy category held the majority of the market share. Collaborations between retail pharmacies and medical clinics and manufacturers, as well as the use of various coupons and favorable discounted pricing for regular patients.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 518 million |
| Market Size Forecast | US$ 706 million |
| Growth Rate | 3.9% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the USA pharmacy market include,
- In January 2021, Optum (UnitedHealth Group) partnered with Change Healthcare to provide software and data analytics, technology-enabled facilities, and research, advisory, and revenue cycle management services to help improve health care for all.
Some of the prominent players and suppliers operating and contributing significantly to the USA pharmacy market growth include CVS Health Corporation, PharMerica Corporation, Walgreens Boots Alliance, Inc., Walmart Inc., Rite Aid Corp., UNITEDHEALTH Group, Albertsons Companies, The Kroger Co., AmerisourceBergen Corporation, MCKESSON CORPORATION, Humana Inc., and Cigna, among others.
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RationalStat has segmented the USA pharmacy market based on type, therapy class, setting and region
- USA Pharmacy Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- Branded
- Generics
- USA Pharmacy Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Therapy Class
- Oncology
- Anti-diabetics
- Autoimmune Diseases
- Respiratory
- Pain
- Nervous System Disorders
- Dermatology
- Antihypertensive
- Mental Health
- HIV Antivirals
- Other Cardiovascular
- Others (Hormonal Contraception, Ophthalmology, Antibacterial, GI Products)
- USA Pharmacy Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Setting
- Retail Pharmacies
- Mail Order/Online Pharmacies
- Others
- USA Pharmacy Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by RegionUS Pharmacy Market
- West USA
- Midwest USA
- Northeast USA
- South USA
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Key Questions Answered in the Pharmacy Report:
- What will be the market value of the USA pharmacy market by 2030?
- What is the market size of the USA pharmacy market?
- What are the market drivers of the USA pharmacy market?
- What are the key trends in the USA pharmacy market?
- Which is the leading region in the USA pharmacy market?
- What are the major companies operating in the USA pharmacy market?
- What are the market shares by key segments in the USA pharmacy market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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