US Pharmacy Market Size & Trends Report Segmented by Pharmacy Type (Hospital, Retail, ePharmacy, Others), Product Type (Prescription, OTC), Ownership (Independent, Chain) Industry Analysis, Growth, Share & Forecasts to 2029
The US pharmacy market is projected to grow at a CAGR of approximately 5-6% from 2024 to 2029, driven by increasing prescription drug usage, an aging population, and technological advancements. Despite robust growth, the market faces challenges such as regulatory complexities and rising operational costs, which require continuous innovation and adaptation. To learn more about the research report, download a sample report.
Report Overview
The US pharmacy market comprises the retail, online, and specialty distribution of prescription drugs, over-the-counter (OTC) medications, and related healthcare products. It serves as a key touchpoint for patients to access medications and healthcare advice, enhancing public health and medication adherence. The market also includes clinical services like immunizations, medication management, and telepharmacy. With the integration of digital technologies, the pharmacy landscape is rapidly evolving to meet the demands of a modern, patient-centric healthcare ecosystem.
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Growing Role of Pharmacies in Chronic Disease Management
The increasing prevalence of chronic diseases such as diabetes, hypertension, and cardiovascular conditions is boosting the demand for pharmacy services in the US. Consistent access to medications and care services has become essential to managing these conditions effectively. Pharmacies contribute to this by supporting medication adherence through refill reminders, personalized counselling, and compliance programs. They also act as accessible points for preventive care services, including flu vaccinations and health screenings. With healthcare systems placing greater emphasis on long-term disease management and preventive care, pharmacies are evolving into essential hubs for patient-focused healthcare delivery, enhancing their role in the broader healthcare framework.
Transformative Impact of Online and Telepharmacy Services
The growth of online and telepharmacy services is revolutionizing the US pharmacy market. With the rise of digital health technologies, pharmacies now offer virtual consultations, e-prescription services, and doorstep delivery of medications. These advancements cater to consumers seeking convenience and accessibility, especially in rural areas and for individuals with limited mobility. The COVID-19 pandemic further accelerated this shift, normalizing the use of telehealth platforms for pharmaceutical services. As a result, pharmacies are expanding their digital presence and investing in AI-driven tools to provide personalized healthcare solutions. The integration of telepharmacy with wearable devices and health apps also fosters proactive health management, making pharmacy services more adaptive and inclusive. Furthermore, digital platforms empower pharmacists to monitor patient adherence remotely, reducing medication errors and improving outcomes. As healthcare evolves, telepharmacy is expected to play a crucial role in enhancing collaborative care between patients, pharmacists, and healthcare providers.
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Competitive Landscape Analysis: US Pharmacy Market
Some of the key players operating in the US pharmacy market include CVS Health; Walgreens Boots Alliance, Inc.; Walmart Stores, Inc.; Cigna Healthcare; Rite Aid Corporation; The Kroger Company; Albertsons Companies, Inc; UnitedHealth Group (OptumRx); Cardinal Health, Inc and Humana Pharmacy Solution.
Report Scope
| Report Metric | Details |
| Base Year Considered | 2023 |
| Historical Data | 2022 - 2023 |
| Forecast Period | 2024 - 2029 |
| Growth Rate | CAGR of 5-6% |
| Market Drivers |
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| Attractive Opportunities |
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| Segment Scope | Pharmacy Type, Product Type and Ownership |
| Regional Scope | US |
| Key Companies Mapped | CVS Health; Walgreens Boots Alliance, Inc.; Walmart Stores, Inc.; Cigna Healthcare; Rite Aid Corporation; The Kroger Company; Albertsons Companies, Inc; UnitedHealth Group (OptumRx); Cardinal Health, Inc. and Humana Pharmacy Solution among others |
| Report Highlights | Market Size & Forecast, Growth Drivers & Restraints, Trends, Competitive Analysis |
US Pharmacy Market Segmentation
This report by Medi-Tech Insights provides size of the US pharmacy from 2022 to 2029. The report further segments the market on the basis of type, product type and ownership.
- Market Size & Forecast (2022-2029), By Pharmacy Type, USD Million
- Hospital Pharmacy
- Retail Pharmacy
- ePharmacy
- Others
- Market Size & Forecast (2022-2029), By Product Type, USD Million
- Prescription
- OTC
- Market Size & Forecast (2022-2029), By Ownership, USD Million
- Independent
- Chain
Key Strategic Questions Addressed
- What is the market size & forecast of the US pharmacy market?
- What are historical, present, and forecasted market shares and growth rates of various segments and sub-segments of the US pharmacy market?
- What are the key trends defining the market?
- What are the major factors impacting the market?
- What are the opportunities prevailing in the market?
- Who are the major players operating in the market?
- What are the key strategies adopted by players?
- Introduction
- Introduction
- Market Scope
- Market Definition
- Segments Covered
- Research Timeframe
- Currency Considered
- Study Limitations
- Stakeholders
- List of Abbreviations
- Key Conferences and Events (2023-2024)
- Research Methodology
- Secondary Research
- Primary Research
- Market Estimation
- Bottom-Up Approach
- Top-Down Approach
- Market Forecasting
- Executive Summary
- US Pharmacy Market Snapshot (2023-2029)
- Segment Overview
- Competitive Insights
- Market Overview
- Market Dynamics
- Drivers
- Rising prevalence of chronic diseases
- Expansion of online and mail-order pharmacy services
- Growth in clinical services like immunizations and wellness screenings at retail pharmacies
- Integration of advanced technologies, including telepharmacy and digital health tools
- Growing consumer preference for digital health solutions and personalized care
- Restraints
- Stringent regulatory requirements at state and federal levels
- Rising drug prices affecting affordability and access
- Pharmacy staffing shortages impacting service delivery
- Opportunities
- Expansion of specialty pharmacy services addressing rare and chronic conditions
- Collaboration opportunities with healthcare systems for integrated patient care models
- Key Market Trends
- AI-driven tools and predictive analytics to enhance medication adherence and patient outcomes
- Partnerships with tech companies for innovative delivery systems like drones and autonomous vehicles
- Unmet Market Needs
- Industry Speaks
- Regulatory Analysis
- Drivers
- Market Dynamics
- US Pharmacy Market Size & Forecast (2022-2029), By Pharmacy Type, USD Million
- Introduction
- Hospital Pharmacy
- Retail Pharmacy
- ePharmacy
- Others
- US Pharmacy Market Size & Forecast (2022-2029), By Product Type, USD Million
- Introduction
- Prescription
- OTC
- US Pharmacy Market Size & Forecast (2022-2029), By Ownership, USD Million
- Introduction
- Independent
- Chain
- Competitive Landscape
- Key Players and their Competitive Positioning
- Key Player Comparison
- Segment-wise Player Mapping
- Market Share Analysis (2023)
- Company Categorization Matrix
- Dominants/Leaders
- New Entrants
- Emerging Players
- Innovative Players
- Key Strategies Assessment, By Player (2022-2024)
- New Product Launches
- Partnerships, Agreements, & Collaborations
- Mergers & Acquisitions
- Geographic Expansion
- Key Players and their Competitive Positioning
- Company Profiles*
(Business Overview, Financial Performance**, Products Offered, Recent Developments)
- CVS Health
- Walgreens Boots Alliance, Inc.
- Walmart Stores, Inc
- Cigna Healthcare
- Rite Aid Corporation
- The Kroger Company
- Albertsons Companies, Inc
- UnitedHealth Group (OptumRx)
- Cardinal Health, Inc
- Humana Pharmacy Solutions
- Other Prominent Players
Note: *Indicative list
**For listed companies
The study has been compiled based on extensive primary and secondary research.
Secondary Research (Indicative List)
Primary Research
To validate research findings (market size & forecasts, market segmentation, market dynamics, competitive landscape, key industry trends, etc.), extensive primary interviews were conducted with both supply and demand-side stakeholders.
Supply Side Stakeholders:
- Senior Management Level: CEOs, Presidents, Vice-Presidents, Directors, Chief Technology Officers, Chief Commercial Officers
- Mid-Management Level: Product Managers, Sales Managers, Brand Managers, R&D Managers, Business Development Managers, Consultants
Demand Side Stakeholders:
- Healthcare Providers, Payers, and Others
Breakdown of Primary Interviews
Market Size Estimation
Both ‘Top-Down & Bottom-Up Approaches’ were used to derive market size estimates and forecasts
Data Triangulation
Research findings derived through secondary sources & internal analysis was validated with Primary Interviews, Internal Knowledge Repository and Company’s Sales Data
