Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Pharmacy Market size is set to rise from USD 1.37 trillion in 2024 to USD 3.42 trillion by 2037, exhibiting a CAGR of more than 7.3% during the forecast timeline, between 2025 and 2037. Currently in 2025, the industry revenue of pharmacy is evaluated at USD 1.44 trillion.
The growth of the market is primarily attributed to the rising count of various type of diseases, and significant upsurge in variety of prescriptions worldwide. For instance, in 2019, the total number of prescriptions dispensed in England was 1.14 billion. This was an upsurge of 0.98% (10 million) over the past year's figure of 1.109 billion.
Pharmacy market renders the marketing of various drugs, medical devises to consumers and healthcare professionals. Since the outbreak of pandemic, the number of visitors have increased as a result of more awareness regarding health, hygiene, and so on. Therefore, numerous pharmacies including retail, and hospital grade have been adopting automation devices to provide swift services to patients. Now, various kind of automation systems are broadly used in pharmacies in the form of robotic dispensing, automated pill counting, bar code verification and so on. Thus, the adoption of automation is leading up the pharmacy market growth over the forecast period. For instance, Walgreens Boots Alliance is using automation technique to fill more prescriptions for customers in Dallas area since first quarter of 2022. Each robot is capable of filling 300 prescriptions in an hour.
Pharmacy Sector: Growth Drivers and Challenges
Growth Drivers
- Rising Geriatric Population – Growing age have a significant impact on the likelihood of developing certain medical disorders. Numerous health problems that regularly plague the elderly people have a negative impact on their general quality of life. Thus, swiftly increasing geriatric population is leading the pharmacy market growth. According to the World Health Organization (WHO), there were approximately 1 billion people aged 60 and older in 2019. This number is expected to increase by nearly 1.4 billion by 2030 and 2.1 billion by 2050.
- Worldwide Escalation in Chronic Diseases – For instance, the probability of developing a chronic disease was increased by 59% by 2020.
- Upsurge in Autoimmune Disorders – For instance, all autoimmune diseases affect approximately 4% of the US population, that denotes nearly 10 million people in the region.
- Surge in Approved Prescription Drugs – For instance, in the United States, more than 20,000 prescription drugs had approved for selling until 2020.
- Global Increase in Healthcare Expenditure - As per the World Bank data, global healthcare expenditure was expanded by 9.83% in 2019.
Challenges
- Hurdles Associated with the Use of Vaccines and Drugs
- Stringent Policies of Government
- Product Recalls and Lawsuit Filing Threat
Pharmacy Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
7.3% |
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Base Year Market Size (2024) |
USD 1.37 trillion |
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Forecast Year Market Size (2037) |
USD 3.42 trillion |
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Regional Scope |
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Pharmacy Segmentation
Product (Prescription, OTC)
The global pharmacy market is segmented and analyzed for demand and supply by product into prescription, and OTC, out of which the prescription segment is projected to significantly grow over the forecast period on the back of the globally increasing burden of chronic diseases i.e., cancer, diabetes, and significantly growing geriatric population. According to the World Health Organization (WHO), there are nearly 422 million diabetics worldwide, and diabetes is the leading cause of 1.5 million annual fatalities.
Our in-depth analysis of the global market includes the following segments:
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By Product |
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By Pharmacy Type |
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By Application |
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Customize this ReportPharmacy Industry - Regional Synopsis
Regionally, the global pharmacy market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2037 backed by the existence of major international pharmacy chains, significantly growing use of over-the-counter prescription drugs, rise in chronic disorders, rapidly growing geriatric population, and expanding healthcare expenditure in the region. For instance, in the United States, approximately 9 out of 10 people use OTC medications on regular basis, which is amounting more than 261 million users.
Companies Dominating the Pharmacy Landscape
- CVS Health Corporation
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Walmart Inc.
- Walgreens Boots Alliance, Inc.
- The Kroger Co.
- Rite Aid Corp.
- UnitedHealth Group
- Well Pharmacy
- Albertsons Companies, Inc.
- LloydsPharmacy Limited
- Cigna
In the News
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Walgreens Boots Alliance, Inc. has completed the previously announced majority share acquisition of CareCentrix, Inc. People with complex or chronic conditions are anticipated to benefit more from this partnership as they move out from the hospitals.
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Walmart Inc. announced the acquisition of Volt Systems to improve its store insights and decision making in order to anticipate customer needs better.
Author Credits: Radhika Pawar
- Report ID: 4435
- Published Date: Mar 21, 2025
- Report Format: PDF, PPT
