Pharmacies & Drug Stores in New York - Industry Market Research Report

Refill Your Prescription: Increased Drug, Beauty and Personal Care Spending Will Likely Boost Industry Revenue

Pharmacies & Drug Stores in New York

The Pharmacies and Drug Stores industry in New York has exhibited growth despite some negative side effects from the regulatory environment. For example, the industry has grappled with changing generic drug prices to reflect reimbursement rates. As a result of this trend, the industry has contended with PBMs not updating their payment benchmarks; thus, the industry has not received an adjusted reimbursement rate for their previous prescription sales, which has cut into industry revenue. Nevertheless, the patent cliff, which caused many blockbuster drugs to lose their patent exclusivity, has bolstered industry revenue and will continue contributing to industry growth over the five years to 2022.

Pharmacies and drug stores retail a range of prescription and over-the-counter medications, health and beauty items, toiletries and consumable goods directly to consumers on a walk-in basis. Industry companies may also provide basic health and photo processing services. The industry includes retail stores with a pharmacy but excludes mail-order retailers, hospitals and clinics.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.