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15 Largest Pharmacy Chains in the World

Zarah Hamid
9 min read

In This Article:

In this article, we will be analyzing the global pharmacy industry and its dominant players, while covering the 15 largest pharmacy chains in the world. If you wish to skip our detailed analysis, you can move directly to the 5 Largest Pharmacy Chains in the World.

The Global Pharmaceutical Industry to Reach $1.8 Trillion

According to a report by Research and Markets, the global pharmaceutical drugs industry was valued at $1.13 trillion in 2022. The industry is expected to grow from $1.19 trillion in 2023 to $1.84 trillion in 2027, at a compound annual growth rate of 11.4% over the forecast period. North America was the most dominant region in the pharmaceutical drugs market in 2022. However, the Middle East is expected to be the fastest growing market for pharmaceutical drugs.

Evolving Trends in the Industry

The pharmaceutical industry has been subject to external factors such as supply chain pressures in addition to rising inflation which has introduced additional costs of labor, raw materials, and transportation. Ever since the pandemic hit the industry, workers have been expecting more work flexibility which adds to the burden of already existing technical labor shortages for pharmaceutical companies. Hence, pharmaceutical companies are finding ways to leverage their positions by innovating, enhancing digitization, and collaborating with strategic partners across the industry. In October 2022, McKinsey reported that one way to leverage market position in the industry has been to enter joint ventures and partnerships. More than 50% of pharmaceutical companies expect to increase collaborations across the industry.

On January 6, PwC reported the emerging trends in the pharmaceutical industry for 2023. Pharmaceutical companies are trying to be cost-effective by achieving economies of scale through centralized operations. Outsourcing non-core processes to third parties has also been noticed since these third parties are capable of providing innovative solutions. A new era of treatment options is emerging as automation and artificial intelligence are being integrated into the drug development process, thereby saving time and costs.

Industry Rivalry

The global pharmaceutical industry is competitive since the market is saturated with many players. The most dominant players include CVS Health Corporation (NYSE:CVS), McKesson Corporation (NYSE:MCK), and Cardinal Health, Inc. (NYSE:CAH). Let’s take a look at some of the competitive moves by these players. You can also view the best healthcare stocks to buy now.

CVS Health Corporation (NYSE:CVS) is one of the world’s biggest healthcare companies. The company strives to improve healthcare access across the US. On October 1, CVS Health Corporation (NYSE:CVS) reported that its brand 'Aetna' will be launching the company's largest Medicare offering, in 2024. The company will be increasing the access of 2.2 million more Medicare-eligible beneficiaries to an Aetna medicare advantage plan. Dental, vision, and hearing benefits have also been added to these plans. Furthermore, freshly prepared meals will also be delivered to patients after they get discharged from a hospital or a skilled nursing facility. The plans have been made affordable across the US.

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