The Business Research Company’s Pharmacies and Healthcare Stores Market – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, November 24, 2021 /EINPresswire.com/ — Collaborations and partnerships have become important to boost company offerings and expand retail businesses in the pharmacies and healthcare stores market. Many companies operating in the industry are collaborating with other companies to expand their geographical presence and maximize the sales of the company. For instance, In October 2018, Walgreens, a USA-based pharmacy store chain announced a strategic collaboration with McLaren Health Care for expanding pharmacy offerings and healthcare services. In addition to new McLaren health service offerings at Walgreens, Walgreens will operate select onsite pharmacies with the purchase of pharmacy inventory assets and the prescription files of McLaren pharmacies located in Michigan.
The global pharmacies and healthcare stores market size reached a value of nearly $1.04 trillion in 2020, having increased at a compound annual growth rate (CAGR) of 3.6% since 2015. The market is expected to grow from $1.04 trillion in 2020 to $1.39 trillion 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 $1.77 trillion in 2030.
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The rising popularity of internet pharmacies is predicted to contribute to the growth of pharmacies and healthcare stores market over the forecast period. The growth of ePharmacy is supported by increasing penetration of e-commerce, rapid surge in the number of internet users, and convenience offered such as doorstep delivery of healthcare products. Moreover, ePharmacy companies provide medicines or drugs at discounted prices, which are attracting more consumers to choose epharmacy over offline stores. For instance, according to a white paper on e-pharmacies in India, the market is estimated to increase to $3,657 million by 2022 India. Besides, ePharmacy is growing at a steady rate of 15% and is anticipated to reach $200 billion by the end of 2025. Therefore, increasing sales of online pharmacies is likely to boost the market growth going forward.
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Major players covered in the global pharmacies and healthcare stores industry are Walgreens Boots Alliance Inc., CVS Health Corporation, The Kroger Company, Rite Aid Corporation, Loblaw Companies Limited, Dirk Rossmann GmbH.
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.
TBRC’s global pharmacies and healthcare stores market report is segmented by type into pharmacies and drug stores, other health and personal care stores, by ownership into retail chain, independent retailer.
Pharmacies and Healthcare Stores Market – By Type (Pharmacies and Drug Stores, Other Health and Personal Care Stores), By Ownership (a) Retail Chain, Independent Stores) And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides pharmacies and healthcare stores market overview, forecast pharmacies and healthcare stores market size and growth for the whole market, pharmacies and healthcare stores market segments, and geographies, pharmacies and healthcare stores market trends, pharmacies and healthcare stores market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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