Global Retail Drug Market Professional Survey Report 2019
Wiseguyreports.Com Adds “Retail Drug – Global Market Growth, Opportunities, Analysis Of Top Key Players And Forecast To 2025” To Its Research Database.
Market Overview –
Food is a substance that will give your body the nutrients it needs. But a drug is something apart from food which can lead to some physiological or psychological changes in your body if it is injected, inhaled, absorbed through your skin, consumed or smoked or even dissolved under your tongue. The CAGR of the retail drug market was found to be 6.6% in the years 2011 to 2018. This was because, in 2018, the global market had incurred a value of 340 billion US dollars.
The Asian economies are now beginning to grab a larger portion of industry share and the emerging economies are also seeing rapid rates of industrialization. All of these factors are estimated to increase the demand in these regions as well. Moreover, in these regions, the APAC is also going to increase at a much greater pace. Production of generic drugs is being promoted in the retail drug market and the main reason behind this is the fact that the developed countries are aiming towards lowering the costs of healthcare.
The entire industry of retail drug stores makes the majority percentage of its profits from the sale of various medications. At the chain drug stores, 60% of the profits are generated through prescription sales whereas at the independent drug stores, 90% of the profits are from prescription sales. Also, in 2018, the USFDA or the United States Food and Drug Administration have paved the way for an efficient process of market entry and approval of through different policies in the retail drug market.
Top Key Vendors:
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The segmentation of the retail drug market can be done in three different ways. If the segmentation is done by regions then there 6 major leaders in the global market and they are – Europe, North America, India, Japan, China, and Southeast Asia. If you do the segmentation by types of drugs, then the retail drug market can be divided into three segments – OTC drug, generic drug, and others. Now, the generic market can be further divided on the basis of several therapy areas some of which are respiratory, central nervous system, rheumatology, dermatology, cardiovascular, hormonal, oncology, diabetes and so on. The retail drug market can also be segmented in three on the basis of application – clinic, hospital and home use.
Regional Overview –
North America has been leading the retail drug market at 341.1 billion US dollars. Also, in the entire global retail drug market, North America alone has a share of 36.5%. Improved measures taken for making healthcare affordable, increasing patent expirations and all the major pharmaceutical companies being present in the region have made this possible. The Asia-Pacific region is currently the second-largest region in the global retail drug market. One of the major trends noticed in this industry in the huge shift towards non-prescription drugs from prescription drugs.
Latest Industry News –
Being the vast chain of retailer that it is, Walmart has also earned the title of being the Drug Store News 2019 Omnichannel Retailer of the Year. It has both brick-and-mortar and online strategies required for making huge profits and it has also given online platforms like Amazon a run for money.
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