Global Retail Pharmacy Market Size
| Study Period | 2019 - 2030 |
| Market Size (2025) | USD 0.83 Trillion |
| Market Size (2030) | USD 1.29 Trillion |
| CAGR (2025 - 2030) | 9.20% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
Global Retail Pharmacy Market Analysis
The Global Retail Pharmacy Market size is estimated at USD 0.83 trillion in 2025, and is expected to reach USD 1.29 trillion by 2030, at a CAGR of 9.2% during the forecast period (2025-2030).
Retail pharmacies can meet the needs of people with both complex and basic medical illnesses, and some can even provide bespoke and highly customized care to patients with chronic medical conditions. Various factors contribute to the market growth of retail pharmacies, such as the rising prevalence of chronic diseases, the increasing geriatric population, government initiatives, and the expansion of health insurance coverage.
The increasing number of geriatric patients increases the prevalence of age-related illnesses such as congestive heart disease, cardiovascular problems, rheumatoid arthritis, and immunological deficiencies. For instance, according to the United Nations World Population Ageing 2023, in developed countries such as the United States and Germany, the proportion of older persons is expected to rise from 20% in 2023 to 28% in 2050. For other developing countries such as South Africa, China, and others, this proportion also increases from 9 to 17%. In contrast, for least developed countries such as Niger and Afghanistan, it is expected to rise from 4% to over 6% by 2050. Additionally, an article published by the National Council on Aging Organization in May 2024 mentioned that approximately 95% of adults aged 60 years or above have at least one chronic health condition. Nearly 80% of adults aged 60 years or above have multiple chronic health conditions (two or more), which include hypertension, arthritis, and coronary heart disease. Thus, the increasing geriatric population and the rising prevalence of chronic diseases among older adults fuel the need for medications and drive the market's growth.
Government initiatives to promote retail pharmacy are expected to drive the market's growth. For instance, in April 2024, government initiatives such as production-linked incentive (PLI) schemes increased the number of Micro, Small, and Medium Enterprises (MSMEs) in India, with a comprehensive distribution network of around 108,000 retail drug sale licenses. This is attributed to the significant investments made by the government to improve innovation and infrastructure development in the country, which is anticipated to boost the adoption of retail pharmacies, which, in turn, increases the market's growth.
Furthermore, expanding retail pharmacies is expected to drive the market's growth during the forecast period. For instance, in November 2023, Terrebonne General Health System and ProxsysRX opened a new retail pharmacy in Louisiana that offers various services, such as the "Meds to Beds" prescription delivery program, facilitating seamless discharge with essential medications for patients. Moreover, in February 2023, Pharmacy Bazar proclaimed to open 300 omnichannel digital franchisees and 200 offline omnichannel retail pharmacy stores in India by the end of FY 2024-2025. The rise in demand for better quality healthcare products and focus on wellness is driving the growth of the Indian organized retail pharmacy sector. Thus, establishing new retail pharmacies is expected to contribute to the market's growth during the forecast period.
Therefore, the above-mentioned factors, such as the increasing geriatric population, rising prevalence of chronic diseases, government initiatives, and rising establishments of retail pharmacies, are expected to drive the market's growth of retail pharmacies during the forecast period. However, regulatory and compliance issues and increasing competition from online pharmacies are expected to hamper the market's growth of retail pharmacies during the forecast period.
Global Retail Pharmacy Market Trends
The Prescription Segment is Expected to Hold a Significant Share in the Market
Prescription drugs can only be dispensed to patients with a valid prescription from a licensed healthcare provider, such as a physician or nurse.
Increasing demand for prescription drugs for diseases such as diabetes, cardiovascular disease, respiratory diseases, antibiotics, blood disorders, and oncology is driving the growth of the prescription segment. For instance, according to the report published by the World Heart Federation Organization in April 2023, around half a billion people are affected by cardiovascular diseases across the world. Additionally, according to the 2023 statistics published by the World Health Organization (WHO), around 422 million people had diabetes across the world in 2023. Thus, the increasing incidence of chronic diseases across the world is expected to boost the demand for prescription drugs and contribute to the segment's growth in the market.
Rising per capita healthcare spending is expected to fuel prescription drug adoption and boost the market's growth. For instance, an article published in the American Journal of Health-System Pharmacy in April 2023 stated that prescription drug spending in the United States increased from 6% in 2022 to 8% in 2023. Thus, the increased healthcare expenditure on prescription drugs due to its high demand is also expected to drive market growth.
Further, initiatives taken by organizations to boost the adoption of prescription drugs are likely to drive the market's growth. For instance, in November 2023, Express Scripts launched a new pharmacy network option, the Express Scripts ClearNetwork plan, a cost-based pricing alternative for prescription medications and pharmacy services. The company expanded its reimbursement model to over 65,000 retail pharmacies in its network, ensuring members have convenient access to their medications through their pharmacy benefits. Additionally, in August 2023, retail pharmacies such as Walmart, Kroger, and Rite Aid reported increased demand for prescription weight loss drugs, which resulted in elevated sales in retail pharmacies. Thus, the adoption of prescription drugs is likely to improve with the improvement in affordability, which is expected to accelerate the segment's growth.
Thus, owing to the above-mentioned factors, such as the increasing prevalence of chronic diseases, rising per capita healthcare spending, and market player initiatives, the adoption and accessibility of prescription drugs are expected to boost the segment's growth.
North America is Expected to Witness Significant Growth in the Market During the Forecast Period
The retail pharmacy market is driven by the expanding number of independent pharmacies and chains and the availability of drugs in supermarkets and mass retailers in the United States. The existence of significant chains such as CVS Health, Boots Walgreens, Shoppers Drug Mart, Lloyd, and Well Pharmacy in countries such as the United States and Canada boosts the segment's growth.
The rising prevalence of chronic diseases in the region is expected to boost the demand for drugs and healthcare wellness products, thus fueling the market growth. For instance, according to the data published by the American Cancer Society in January 2024, the prevalence of cancer is increasing in the country, and the estimated cases reported were 2.0 million in 2024 compared to 1.9 million in 2023 in the United States. Additionally, an article published in the Canadian Medical Association Journal in May 2024 mentioned that cancer cases were expected to reach 247,100 in 2024 from 239,100 in 2023 in Canada. Thus, the rising prevalence of chronic diseases, such as cancer, is likely to boost the demand for drugs and wellness products and contribute to the market's growth.
Furthermore, market players employ various initiatives to enhance market share, thus contributing to the regional market's growth. For instance, in March 2024, Rite Aid Corp. introduced the Food and Drug Administration-approved oral contraceptive pill Opill, used for pregnancy prevention and available at Walgreens stores in the United States. In January 2023, Amazon launched RxPass, a subscription service for customers with Prime memberships in Florida, United States.
Therefore, the above-mentioned factors, such as the increasing prevalence of chronic diseases and market player initiatives, are expected to propel the demand for medications and wellness products and boost the region's market growth.
Global Retail Pharmacy Industry Overview
The retail pharmacy market is fragmented and competitive and consists of several major players. The competitive landscape includes an analysis of a few international and local companies that hold market shares and are well-known, including Walgreens Boots Alliance, CVS Health, MedPlus, Grupo Casa Saba, Walvax Biotechnology, and UnitedHealth Group.
Global Retail Pharmacy Market Leaders
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Walgreens Boots Alliance
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CVS Health
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MedPlus
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Grupo Casa Saba
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Walvax Biotechnology
- *Disclaimer: Major Players sorted in no particular order
Global Retail Pharmacy Market News
- February 2024: WinMed Pharmacy opened its retail pharmacy in Decorah, United States, with the addition of services such as prescription filling and education, over-the-counter medications, medication adherence packaging, vaccines, and other services.
- February 2024: Yale New Haven Health opened a retail pharmacy at Lawrence + Memorial (L+M) Hospital to provide personalized medications for patients and to improve patient care.
Global Retail Pharmacy Industry Segmentation
As per the scope of the report, a retail pharmacy is an individual or chain pharmacy licensed by the state that dispenses drugs at retail pricing to the general public.
The retail pharmacy market is segmented by product, distribution channel, and geography. By product, the market is segmented into prescription drugs, over-the-counter (OTC) products, health and wellness products, medical devices and equipment, personal care products, and other products (home healthcare products and nutrition supplements). By distribution channel, the market is segmented into chain pharmacy, independent pharmacy, and other distribution channels (hospital pharmacy, supermarket pharmacy, mass merchandiser pharmacy, and mail-order pharmacy). By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The market size is provided for each segment in terms of value (USD).
| By Product | Prescription Drugs | ||
| Over-the-Counter (OTC) Products | |||
| Health and Wellness Products | |||
| Medical Devices and Equipment | |||
| Personal Care Products | |||
| Other Products (Home Healthcare Products and Nutrition Supplements, etc.) | |||
| By Distribution Channel | Chain Pharmacy | ||
| Independent Pharmacy | |||
| Other Distribution Channels (Hospital Pharmacy, Supermarket Pharmacy, etc.) | |||
| Geography | North America | United States | |
| Canada | |||
| Mexico | |||
| Europe | Germany | ||
| United Kingdom | |||
| France | |||
| Italy | |||
| Spain | |||
| Rest of Europe | |||
| Asia-Pacific | China | ||
| Japan | |||
| India | |||
| Australia | |||
| South Korea | |||
| Rest of Asia-Pacific | |||
| Middle East and Africa | GCC | ||
| South Africa | |||
| Rest of Middle East and Africa | |||
| South America | Brazil | ||
| Argentina | |||
| Rest of South America | |||
| Prescription Drugs |
| Over-the-Counter (OTC) Products |
| Health and Wellness Products |
| Medical Devices and Equipment |
| Personal Care Products |
| Other Products (Home Healthcare Products and Nutrition Supplements, etc.) |
| Chain Pharmacy |
| Independent Pharmacy |
| Other Distribution Channels (Hospital Pharmacy, Supermarket Pharmacy, etc.) |
| North America | United States |
| Canada | |
| Mexico | |
| Europe | Germany |
| United Kingdom | |
| France | |
| Italy | |
| Spain | |
| Rest of Europe | |
| Asia-Pacific | China |
| Japan | |
| India | |
| Australia | |
| South Korea | |
| Rest of Asia-Pacific | |
| Middle East and Africa | GCC |
| South Africa | |
| Rest of Middle East and Africa | |
| South America | Brazil |
| Argentina | |
| Rest of South America |
Global Retail Pharmacy Market Research Faqs
How big is the Global Retail Pharmacy Market?
The Global Retail Pharmacy Market size is expected to reach USD 0.83 trillion in 2025 and grow at a CAGR of 9.20% to reach USD 1.29 trillion by 2030.
What is the current Global Retail Pharmacy Market size?
In 2025, the Global Retail Pharmacy Market size is expected to reach USD 0.83 trillion.
Who are the key players in Global Retail Pharmacy Market?
Walgreens Boots Alliance, CVS Health, MedPlus, Grupo Casa Saba and Walvax Biotechnology are the major companies operating in the Global Retail Pharmacy Market.
Which is the fastest growing region in Global Retail Pharmacy Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Global Retail Pharmacy Market?
In 2025, the North America accounts for the largest market share in Global Retail Pharmacy Market.
What years does this Global Retail Pharmacy Market cover, and what was the market size in 2024?
In 2024, the Global Retail Pharmacy Market size was estimated at USD 0.75 trillion. The report covers the Global Retail Pharmacy Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Global Retail Pharmacy Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Global Retail Pharmacy Industry Report
Statistics for the 2025 Global Retail Pharmacy market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Global Retail Pharmacy analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
