The global pharmacy market is experiencing significant growth, driven by factors such as the increasing prevalence of chronic diseases, an aging population, and advancements in healthcare technology. With the integration of digital platforms and the expansion of e-pharmacies, the industry is poised for substantial transformation and expansion in the coming years.

In 2023, the global pharmacy market size was valued at USD 2,051.5 billion. It is expected to grow from USD 2,187.5 billion in 2024 to USD 3,886.3 billion by 2032, registering a compound annual growth rate (CAGR) of 7.4% during the forecast period. North America led the market in 2023, accounting for a 38.26% share.

Top Companies in the Market

• Walmart Inc. (U.S.)
• CVS Health (U.S.)
• Walgreens Boots Alliance, Inc. (U.S.)
• Kroger | The Kroger Co (U.S.)
• Kaiser Foundation Health Plan, Inc. (U.S.)
• Target Brands, Inc. (U.S.)
• Bellin Health Systems (U.S.)
• Geisinger Health (U.S.)
• Rite Aid Corp. (U.S.)

Key Industry Development

June 2024: Infosys Limited collaborated with Nihon Chouzai (TSE), Japan's leading dispensing pharmacy chain. This collaboration expanded healthcare access in Japan with enhanced online medication services in the country.

Market Drivers & Restraints

Drivers:

• Rising prevalence of chronic diseases such as diabetes and hypertension.
• Increasing geriatric population requiring regular medication.