The Pharmacies and Drug Stores industry is comprises operators that retail a range of prescription and over-the-counter medications, health and beauty items, toiletries and consumable goods directly to consumers on a walk-in basis. Over the five years to 2017, the industry has exhibited growth despite some negative side effects from the regulatory environment and growing external competition. The rise in the number of individuals aged 65 and over, in tandem with increases in spending on prescription medication, has led industry revenue to increase. Nevertheless, the patent cliff, which caused many blockbuster drugs to lose their patent exclusivity, has bolstered industry revenue over the past five years; new generic drugs typically provide high profit margins for pharmacies and drug stores due to their bulk purchases and the pricing power they experience from generic drugs. Over the five years to 2022, the industry is expected to continue its upward trajectory, despite expected increases in external competition.
Pharmacies and drug stores retail a range of prescription and over-the-counter medications, health and beauty items, toiletries and consumable goods directly to consumers on a walk-in basis. Industry companies may also provide basic health and photo processing services. The industry excludes mail-order retailers, hospitals and clinics.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.