The global retail drug market is forecast to hit an estimated market value of US $1,420 billion in 2017, growing at a compound annual growth rate (CAGR) of 3.6% over the next five years.
The strong growth within the retail drug market is being fuelled by the aging population and increasing health consciousness among the global populace.
The global retail drug market holds immense potential as a vast range of countries still remain under-penetrated. Drug stores are poised for significant growth, as the average age of the consumer is increasing rapidly.
An aging population needs increased health care and prescription needs, thus providing a growing customer base for the global retail drug market.
The region showing the best growth prospects within the global retail drug market is APAC, whose markets are set to be driven with increasing aging population, health consciousness, and consumer demand.
Increasing industry share of Asian economies in world trade and rapid industrialisation in emerging economies are expected to boost demand in this region. Therefore, APAC is expected to grow at a faster pace than other regions.
Global retail drug market growth stems from industry leaders such as, Pfizer, GlaxoSmithKline, Roche, Abbott, Johnson & Johnson and AstraZeneca.
For more information on the global retail drug market, see the latest research: Global Retail Drug Market Report
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