The Business Research Company’s Pharmacies And Healthcare Stores Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, June 24, 2021 /EINPresswire.com/ — The pharmacies and healthcare stores market is expected to benefit from steady economic growth forecasted for many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a decline in the historic period is further expected to be a significant factor driving economic growth. The US economy is expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Greater economic growth is likely to drive public and private investments, joint ventures, foreign direct investments in the end-user markets, thereby driving the pharmacy retail market during forecast period.
The major players covered in the global pharmacies and healthcare stores market are MedPlus, Medzone, Medicap, Apollo Pharmacy and Discount Drug Stores.
The pharmacies and healthcare stores market consists of sales of pharmaceuticals and healthcare products by entities (organizations, sole traders and partnerships) that sell pharmaceuticals and healthcare products such as drugs, medical devices, and other personal care products through pharmacies and other health and personal care stores. The pharmacies and healthcare stores market is segmented into pharmacies and drug stores and other health and personal care stores.
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The global pharmacies and healthcare stores market is expected to grow from $1004.83 billion in 2020 to $1060.07 billion in 2021 at a compound annual growth rate (CAGR) of 5.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1307.05 billion in 2025 at a CAGR of 5%.
North America is the largest region in the global pharmacies and healthcare stores market, accounting for 33% of the market in 2020. Asia Pacific is the second largest region, accounting for 27% of the global market. Africa is the smallest region in the global pharmacies and healthcare stores market.
TBRC’s pharmacies and healthcare stores market research report is segmented by type into pharmacies and drug stores, other health and personal care stores and by ownership into retail chain and independent retailer.
Pharmacies And Healthcare Stores Global Market Report 2021: COVID-19 Impact And Recovery To 2030 is one of a series of new reports from The Business Research Company that provides pharmacies and healthcare stores market overview, forecast pharmacies and healthcare stores global market size and growth for the whole market, pharmacies and healthcare stores global market segments, and geographies, pharmacies and healthcare stores global market trends, pharmacies and healthcare stores global market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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