Global Pharmacy Market Overview

The global pharmacy market was valued at USD 1.35 trillion in 2024 and is projected to reach USD 2.06 trillion by 2030, expanding at a CAGR of 7.3% from 2025 to 2030. This growth is primarily driven by the rising prevalence of chronic diseases, which continues to increase global healthcare spending.

The demand for specialty drugs and higher prescription drug expenditures in developed economies are contributing to new growth opportunities. Conditions such as cancer, diabetes, traumatic brain injuries, and cardiovascular diseases—many linked to sedentary lifestyles—are becoming more common, further increasing demand for prescription medications. This rising demand is boosting pharmacy business volume as pharmacies play a key role in dispensing these drugs.

According to the National Health Service (NHS), the cost of a prescription in England for 2024–2025 is USD 12.65 per item, up by USD 0.51 from the previous year. This continues a steady upward trend from USD 8.80 in 2015–2016 to USD 10.47 in 2024–2025, reflecting the increasing burden of prescription costs on healthcare systems and consumers alike.

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Pharmacies are increasingly embracing digitalization to improve accessibility and convenience for patients. Many healthcare technology providers are introducing solutions aimed at optimizing pharmacy operations. For example, in December 2024, Cencora, Inc. launched Accelerate Pharmacy Solutions, a platform designed to support hospitals and health systems in improving operational efficiency and financial performance. The solution focuses on supply chain simplification, advanced technologies, and enhanced user capabilities.

Additional growth factors include a rising number of accidents and injuries, particularly in low-income regions, and an increasing need for effective therapies. According to Cancer Facts & Figures 2025 (American Cancer Society), the U.S. is expected to see 2,041,910 new cancer cases in 2025. Furthermore, nearly 853 million people—or 1 in 8 adults—are projected to have diabetes by 2050. The aging global population, increased incidence of road accidents, and higher demand for portable medical devices, coupled with the presence of industry associations and collaborations, are expected to support sustained market growth.

Key Market Trends & Insights

• North America dominated the pharmacy market in 2024 with a 53.2% revenue share.
• The U.S. held the largest revenue share within the region in the same year.
• By product, the prescription segment accounted for 81.3% of the market revenue in 2024.
• By type, retail pharmacy remained the largest segment in 2024.
• Middle East and Africa is projected to be the fastest-growing regional market over the forecast period.

Market Size & Forecast Summary

• 2024 Market Size: USD 1.35 Trillion
• 2030 Projected Market Size: USD 2.06 Trillion
• CAGR (2025–2030): 7.3%
• Largest Regional Market (2024): North America
• Fastest Growing Region: Middle East and Africa

Key Company Insights

Leading companies are expanding service offerings and leveraging strategic partnerships to strengthen their market positions:

• CVS Health operates through a vast network of retail locations across the U.S., offering services such as mail-order pharmacy, prescription delivery, and specialty pharmacy.
• Walmart Inc. integrates pharmacy, grocery, and general merchandise into a single online platform and provides same-day delivery across 49 U.S. states.
• Both companies emphasize improving accessibility and streamlining service delivery through technological integration and service expansion.

Leading Pharmacy Market Participants

These companies represent key players in the global pharmacy industry, holding significant market shares and setting industry benchmarks:

• Boots Walgreens
• Walmart Inc.
• The Kroger Co.
• Rite Aid Corp.
• McKesson Corporation
• Well Pharmacy
• Humana
• Matsumotokiyoshi Co., Ltd.
• Apollo Pharmacy
• MedPlusMart.com
• Amazon

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Conclusion

The global pharmacy market is poised for strong growth, set to increase from USD 1.35 trillion in 2024 to USD 2.06 trillion by 2030 at a CAGR of 7.3%. This expansion is fueled by rising healthcare needs, especially due to the increasing burden of chronic illnesses and aging populations worldwide. The growing demand for prescription medications and specialty drugs, along with the ongoing digital transformation of pharmacy services, is reshaping the industry. With innovation in healthcare IT, a shift toward more accessible and efficient pharmacy models, and heightened focus on preventive care, the pharmacy market is expected to remain a critical pillar of the global healthcare ecosystem through 2030 and beyond.