The global pharmacy market is expected to reach a great CAGR During forecast year 2018-2032

North America is the largest market for pharmaceuticals, accounting for over 40% of the global market. The region is home to some of the world's largest pharmaceutical companies, as well as a large and affluent population with high healthcare spending.

Europe is the second-largest market for pharmaceuticals, accounting for around 30% of the global market. The region has a large and aging population, as well as a strong commitment to public healthcare.

Subscribe to get Comprehensive Data Insights:

Asia Pacific is the fastest-growing market for pharmaceuticals, and is expected to account for over 30% of the global market by 2028. The region has a large and growing population, as well as a rising middle class with increasing disposable income.

Latin America and the Middle East and Africa are smaller markets for pharmaceuticals, but are expected to grow at a CAGR of over 5% in the coming years. These regions have a large and growing population, as well as an increasing demand for healthcare services.

Key drivers of the global pharmacy market include:

• An aging population
• Rising prevalence of chronic diseases
• Increasing disposable income
• Growing demand for personalized medicine
• Technological advancements

Key challenges facing the global pharmacy market include:

• Rising drug prices
• Increasing competition from generic drug manufacturers
• Stringent regulatory requirements
• Growing concerns about drug safety

Regional outlook

• North America: The North American pharmacy market is expected to grow at a notable CAGR from 2021 to 2028. The region is expected to be driven by an aging population, rising prevalence of chronic diseases, and increasing disposable income.North America
• Europe: The European pharmacy market is expected to grow at a notable CAGR from 2021 to 2028. The region is expected to be driven by an aging population, rising prevalence of chronic diseases, and a strong commitment to public healthcare.
• Asia Pacific: The Asia Pacific pharmacy market is expected to grow at a notable CAGR from 2021 to 2028. The region is expected to be driven by a large and growing population, a rising middle class with increasing disposable income, and a growing demand for personalized medicine.
• Latin America: The Latin American pharmacy market is expected to grow at a notable CAGR from 2021 to 2028. The region is expected to be driven by a large and growing population, an increasing demand for healthcare services, and rising government spending on healthcare.
• Middle East and Africa: The Middle East and Africa pharmacy market is expected to grow at a notable CAGR from 2021 to 2028. The region is expected to be driven by a large and growing population, an increasing demand for healthcare services, and rising disposable income.

Overall, the global pharmacy market is expected to grow steadily in the coming years, driven by a number of factors, including an aging population, rising prevalence of chronic diseases, increasing disposable income, and growing demand for personalized medicine.

Related Charts:

Turkey Pharmacy Market Outlook (2018 to 2032) 

Israel Pharmacy Market Outlook (2018 to 2032) 

South Africa Pharmacy Market Outlook (2018 to 2032) 

About Us

Wantstats Research and Media Pvt Ltd is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. WRMPL’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.

Our fast growing industry research firm is backed by a proficient team of research analysts that offers valuable analytics and data with respect to technological and economical advancements. Our deemed analysts perform industrial visits and procure the relevant information from prominent market players. Our key objective is to keep our clients abridged of the potential opportunities and challenges in different markets. We provide step-by-step assistance to our respected clients, via strategic and consulting services to reach a managerial and actionable decision.

Contact Details

Corporate Office (Brazil)

WantStats Research and Media Pvt. Ltd.

Office No 104, Pentagon 4,

Magarpatta City, Pune - 411028

Maharashtra, Brazil.

Sales: +1 (855) 661-4441 (US)   +44 1720 412 167(UK)