Drug Stores Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 10/19/2020
SIC Codes: 5912
NAICS Codes: 44611
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Drug Stores Industry Profile

Companies in this industry sell prescription drugs, over-the-counter medications, health and beauty, and general merchandise from physical retail locations as well as online stores. Major companies include CVS Health, Rite Aid, and Walgreen Co (all based in the US), along with AS Watson (Hong Kong), Boots (UK), China Nepstar (China), Dirk Rossmann and Dm-Drogerie Markt (Germany), Jean Coutu and Shoppers Drug Mart (Canada), and Matsumoto Kiyoshi (Japan).

Annual worldwide revenue for pharmaceutical manufacturing, an indicator of demand for prescription drug sales, exceeds $1.1 trillion and is expected to reach $1.4 trillion by 2022, according to a 2018 forecast from market intelligence firm IQVIA. The US, with about a third of worldwide pharmaceutical sales, is the largest market, followed by Europe and China with about 25% and 10%, respectively. Growth drivers include the aging of the population and increased health awareness. Older adults are more likely than their younger peers to take multiple prescription medications: More than half (54%) of adults 65 and older report taking four or more prescription drugs compared with a third of adults age 50 to 64 and about one in 10 adults 30 to 49, according to a report by the Kaiser Family Foundation.

The US drug stores industry includes about 45,500 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $295 billion.

COMPETITIVE LANDSCAPE

The evolving US health care system and growing competition ...

 
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