A recent market report by RationalStat has predicted that the USA pharmacy market is set to reach a staggering $706 million by 2030, with an annual growth rate of more than 3.9%. This significant growth, from a valuation of $518 million in 2023, is driven by several key factors such as demographic shifts, industry trends, and technological advancements.
With the country’s population aging, a significant proportion of baby boomers are reaching retirement age. As older individuals require more prescription medications, this demographic change is driving up the demand for pharmacy services. Furthermore, pharmacies have expanded their services beyond mere drug dispensing. Many now offer value-added services like medicine therapy management (MTM), immunizations, health screenings, and consultations, further cementing their role in the healthcare ecosystem.
The USA pharmacy market is highly segmented, with different sectors contributing variously to the growth. In 2020, the branded pharmaceuticals segment held a commanding market share, driven by a growing number of therapeutic regulatory approvals and a robust pipeline of major players. Similarly, the autoimmune illnesses sector was the largest within the therapy class, reflecting the rising prevalence of these diseases in the US. The retail pharmacy category dominated the setting segment due to strategic collaborations between retail pharmacies and medical clinics and manufacturers.
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