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US Pharmacy Market Size [2021-2028] Exhibits 6.3% CAGR to Reach USD 861.67 Billion in 2028

According to Fortune Business Insights, the global US Pharmacy Market size is projected to reach USD 861.67 Billion by 2028, at CAGR of 6.3% during forecast period; Growing Occurrence of Prolonged Disease and High Geriatric Population to Spur Demand

/EIN News/ -- Pune, India, Nov. 15, 2022 (GLOBE NEWSWIRE) -- The US pharmacy market size was USD 534.21 billion in 2020. The market is projected to grow from USD 560.00 billion in 2021 to USD 861.67 billion by 2028 at a CAGR of 6.3% in the 2021-2028 period.

This information is published by Fortune Business Insights™, in its report, titled, “US Pharmacy Market, 2021-2028.”

According to our expert researchers, surging occurrence of aliments in the US, growing geriatric population, and rising healthcare spending are few of the prime aspects fueling the growth of the pharmaceuticals market in the country.

Industry Development

January 2021 Optum (UnitedHealth Group) collaborated with Change Healthcare, to offer software and data analytics, technology-empowered facilities and research, advisory and revenue cycle management offerings to assist in making health care work refined for all.


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Report Scope & Segmentation

Report Coverage Details
Forecast Period 2021 to 2028
Forecast Period 2021 to 2028 CAGR 6.3%
2028 Value Projection USD 861.67 Billion
Base Year 2020
Market Size in 2021 USD 560.00 Billion
Historical Data for 2017 to 2019
No. of Pages 74
Key Players covered CVS Health Corporation (Rhode Island, US), Walgreens Boots Alliance, Inc. (Illinois, US), Cigna (Express Scripts) (Connecticut, US), UnitedHealth Group (Optum) (Minnesota, US), Walmart Inc. (Arkansas, US)
Growth Drivers Collaborations among Companies to Safeguard Their Brand Values in Global Market
Growing Occurrence of Prolonged Disease and High Geriatric Population to Spur Demand
Surging Consciousness Regarding Health amid COVID-19 Pandemic to Aid Market Growth




To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:

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Drivers and Restraints

Growing Occurrence of Prolonged Disease and High Geriatric Population to Spur Demand

The amount of chronic disease-inflicted patients is promptly surging globally. There has been an incredible growth in the occurrences of chronic immune deficiencies, diabetes, and congestive heart failure among others. As per a record published by World Health Organization (WHO), chronic ailments impact nearly 133 million Americans, portraying 40% of the total population of the nation. Moreover, the growth in the geriatric population in the nation is also aiding the US pharmacy market growth.

Nevertheless, the difficulties linked with the usage of these are a prime aspect that are probable to obstruct the growth of this market in the upcoming years.

Segmentation

Type, Therapy Class, and Setting are studied for the Market

On the basis of type, the market is segregated into branded and generics. Branded drugs held a leading market share in 2020. The rising number of regulatory approvals for drugs coupled with a strong pipeline of dominating players is majorly responsible for its highest market share during the forecast period.

In terms of therapy class, the market is classified into 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, and others.

By setting, the market is divided into retail pharmacies, mail order/online pharmacies, and others.


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Segmentation By Therapy Class
  • Oncology
  • Anti-diabetics
  • Autoimmune diseases
  • Respiratory
  • Pain
  • Nervous System Disorders
  • Dermatology
  • Antihypertensive
  • Mental Health
  • HIV Antivirals
  • Multiple Sclerosis
  • Anticoagulants
By Setting
  • Retail Pharmacies
  • Mail Order/Online Pharmacies
  • Others (Non-retail Settings)


Report Coverage

The US Pharmacy Market report accentuates leading regions across the globe to present a better perception to the user. Moreover, the report presents clear visions into the newest industry popularities and reviews technologies employed at a prompt speed at the international level. The report further studies numerous pattern shifts connected with the transformation of software. It further highlights some of the growth-stimulating factors and restraints, helping the reader gain detailed knowledge about the US pharmacy market share, growth, size, and others.


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Competitive Landscape

Collaborations among Companies to Safeguard Their Brand Values in Global Market

Fundamental players in the US Pharmacy Market are incessantly rooting for efficient tactics to endorse their products and establish their positions in the market. One such tactic is to launch novel products by teaming up with other companies to expand their reach to end-users.

List of Key Players Covered in this Market Report

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


Have Any Query? Ask Our Experts:

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Table Of Content

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Prevalence of Chronic and Infectious Diseases in US, 2020
    • Key Industry Developments - Mergers, Acquisitions and Partnerships, 2020
    • Introduction of New Products / Approvals (By Major Players)
    • Impact of COVID-19 on US Pharmacy Market
  • US Pharmacy Market Analysis, Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Type
      • Branded
      • Generics
    • Market Analysis, Insights and Forecast – 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
    • Market Analysis, Insights and Forecast – By Setting
      • Retail Pharmacies
      • Mail Order/Online Pharmacies
      • Others (Non-retail Settings)

ToC Continue…!

Frequently Asked Questions:

How much is the US pharmacy market worth?

According to Fortune Business Insights the US market stood at USD 534.21 billion in 2020 and is projected to reach USD 861.67 billion by 2028.

Which is the leading segment in the market by product?

According to Fortune Business Insights “By type” the branded drug is the leading segment.

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Address:

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Mahalunge Road, Baner, Pune-411045,

Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com


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