Insights on the Pharmacies and Healthcare Stores Global Market to 2030 - Identify Growth Segments for Investment - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Aug 16, 2021--
The “Pharmacies and Healthcare Stores Global Market Opportunities and Strategies to 2030: COVID-19 Impact and Recovery” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global lending market as it emerges from the COVID-19 shut down.
The global pharmacies and healthcare stores market reached a value of nearly $1,037.2 billion in 2020, having increased at a compound annual growth rate (CAGR) of 3.6% since 2015. The market is expected to grow from $1,037.2 billion in 2020 to $1,391.3 billion in 2025 at a rate of 6.0%. The market is then expected to grow at a CAGR of 5.0% from 2025 and reach $1,774.6 billion in 2030.
- JD Health
- Sinopharm Group Company
- Shanghai Pharmaceuticals
- Yifeng Pharmacy
- Tongrentang Group
- Kangmei Pharmaceutical
- Jumei International Holding
- Ranbaxy’s (Fortis)
- Pantaloon (Tulsi)
- Reliance Retail’s (Reliance Health and Pharma) and Subhiksha
- Apollo Hospitals Group’s (Apollo Pharmacy)
- Medicine Shoppe
- Zydus Cadilla’s (Dial for Health)
- Sagar Drugs & Pharmaceuticals’ (Planet Health)
- Morepan’s (Life Spring)
- Lifetime Healthcare’s
- Global Healthline
- Guardian Lifecare’s
- Aeon, Medipal Holdings
- Toho holdings
- Paltac Corporation
- Cosmos Pharmaceutical Co., Ltd
- China National Accord Medicines Corporation
- Pfizer Pharmaceuticals Ltd
- Beijing Tong Ren Tang Co. Ltd
- Shandong Lukang Pharmaceutical
- Yabao Pharmaceutical
- Nordic Pharma Group
- Phoenix Pharma Group
- And Many More Companies!
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This report describes and explains the global pharmacies and healthcare stores market and covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.
Growth factors in the historic period include strong economic growth in emerging markets, aging populations, FDI in pharmacies and healthcare stores in developing countries, rising popularity of the franchising concept, low interest rate concept, and increased healthcare expenditure. The market was restrained by unorganized pharmacy stores in developing countries, low healthcare access, and stringent regulations.
Going forward steady economic growth, rising geriatric population, rise in healthcare expenditure, increasing prevalence of diseases, government initiatives, and increasing popularity of E-pharmacy will drive the growth in the pharmacies and healthcare stores market. Factors that could hinder the growth of the market in the future include low per-capita healthcare expenditure, lack of skilled professionals, reduction in free trade, and the Coronavirus pandemic.
North America was the largest region in the pharmacies and healthcare stores market, accounting for 33.0% of the total in 2020. It was followed by the Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the pharmacies and healthcare stores market will be South America and Asia-Pacific where growth will be at CAGRs of 9.2% and 8.4% respectively during 2020-2025. These will be followed by Africa and Middle East, where the markets are expected to register CAGRs of 6.1% and 5.5% respectively during 2020-2025.
A considerable impact of COVID-19 is being seen on pharmacies and healthcare stores, as they battle against lockdowns, travel restrictions, staff shortages, and demand fluctuations. The pandemic is also causing massive supply chain disruptions in the pharmacies and healthcare stores market which has led to drug shortages and unavailability of manufactured products and source materials around the globe. The shortage of raw materials from both China and India, pushed up the cost of supplies which led to an increase in prices by almost 30% for over-the-counter pain relief medication like paracetamol, ibuprofen and aspirin. The increase in prices impacted pharmacy retailers as wholesalers passed on the cost to retail. Independent pharmacies were hit harder as they lacked financial cushioning to absorb the wholesale price rise. The increased demand for pain relief products and cough and cold medication during the pandemic further contributed to the increase in prices.
For more information about this report visit https://www.researchandmarkets.com/r/af4zc7
View source version on businesswire.com:https://www.businesswire.com/news/home/20210816005433/en/
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INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL
SOURCE: Research and Markets
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PUB: 08/16/2021 09:47 AM/DISC: 08/16/2021 09:47 AM