Top 5 Large Pharmacy Chains and Their Market Presence

Published: August 2024

According to the US health department, around 133 million Americans live with at least one chronic disease. In order to address this, the pharmacy industry, comprising both independent stores and large pharmacy chains are offering a wide range of prescription drugs, over-the-counter drugs, medical devices and other health and wellness products for the treatment of such diseases.

We analyzed over 20 large drugstore chains that are engaged in offering various pharmacy products to the patients, across the globe. In this article, discover top five large pharmacy chains and their capabilities in the pharmacy market.

Pharmacy refers to the “one-stop-shop” where patients can purchase a variety of pharmacy products and a wide range of other essential products, including skincare, hair care, baby care and household products. Notably, the pharmacy industry has experienced some technological advancements, such as e-prescription delivery and automation that helps to enhance process efficiency and patient care. Additionally, the growing demand for medications due to the increasing disease burden and aging population also contributes to this industry's growth and development. Moreover, both independent pharmacies and large pharmacy chains play a significant role in distributing pharmacy products and ensuring timely access to the patients. It is worth highlighting that large drugstore chains have several advantages because of their extended network and consumer base, while smaller independent pharmacies focus on accessibility and creative advertising strategies. Some pharmacies also offer drug compounding services and are known as compounding pharmacy / outsourcing facilities.

Roots Analysis has conducted an exhaustive study on Pharmacy Market featuring the current market landscape and future opportunity for the companies engaged in offering pharmacy products across the globe, over a span of 11 years.

Below, we have listed (in alphabetical order), the top 5 large pharmacy chains.

AS Watson
Cigna
CVS Health
Kroger
Walgreens Boots Alliance

Top 5 Large Pharmacy Chains

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Discover Below the Details on Top 5 Large Pharmacy Chains

Let us deep dive to understand the activity of the top 5 large drugstore chains (companies having highest pharmacy business segment revenues in FY23) in the pharmacy market. It is essential to note that the selection of top players can differ substantially according to the defined criteria.

In FY2023, AS Watson’s Health and Beauty Business Segment Represented Over 85% of the Company’s Total Revenues

1. AS Watson

AS Watson, is among the top 5 large pharmacy chains. The company is an integral part of CK Hutchison Holdings, claims to be the world's largest international health and beauty retailer with more than 16,000 stores worldwide. The company has set O+O (Offline Plus Online) as the new standard for retail. It's O+O platform is an ecosystem powered by technology, big data and artificial intelligence, focused on creating an integrated offline and online experience to better serve customers’ requirements through digital transformation. Presently, the company has its presence in 15 Asian, European and Middle Eastern countries, through its 8,000 stores and more than 1,500 pharmacies. It is worth highlighting that in a survey conducted across six Asian countries, the company was named as the No.1 personal care and beauty products retailer in Asia-Pacific region.

AS Watson: Company Overview

Key Parameters	Description
Company Logo
Year of Establisment	1841
Number of Employees	10,000+
Headquarters	Hong Kong, China

AS Watson has been actively expanding its reach and capabilities in the pharmacy market. The company has collaborated with Amazon to enhance the accessibility of its extensive range of beauty, health and personal care products to its online customers. The company welcomes opportunities wherein they can expand their healthcare and beauty products delivery services at different locations across the world.

Further details on recent initiatives taken by AS Watson and other large pharmacy chains have been provided in detail in the report.

In Q1 2024, Cigna’s Evernorth Health Services Business Segment Witnessed an Increase of 28% from the Revenues Reported During the Same Time in the Last Year

2. Cigna

Cigna is among the top 5 large pharmacy chains. The company is a multinational healthcare and insurance company headquartered in the US, with a global presence in over 30 countries and jurisdictions. Additionally, with a workforce of over 70,000 employees, the company operates through its subsidiaries, Cigna Healthcare and Evernorth Health Services. Further, the company maintains a vast network of relationships with more than two million healthcare providers, clinics and facilities. This extensive network supports its customer base, underscoring the company's significant impact on global healthcare.

Cigna: Company Overview

Key Parameters	Description
Company Logo
Year of Establisment	1982
Number of Employees	10,000+
Headquarters	Connecticut, US

For instance, in October 2022, the company’s subsidiary, Express Scripts collaborated with Centene to make prescription medications more accessible and affordable for customers. The company is likely to continue seeking collaboration opportunities with other players in the domain to facilitate the distribution of its pharmacy and healthcare products.

Further details on recent initiatives taken by Cigna and other large pharmacy chains have been provided in detail in the report.

In February 2024, CVS Pharmacy Collaborated with Grubhub to Deliver Wide Range of Health and Wellness Products to Consumers in 48 American States

3. CVS Health

CVS Health is among the top 5 large pharmacy chains. It is a prominent American healthcare company founded in 1963, specializing in the field of health care and wellness, health insurance and pharmacy services. The company offers multiple channels for consumers to access high-quality, personalized and affordable healthcare products locally and nationally. With a strong community presence, tech-forward approach and unmatched engagement with over 100 million people, CVS Health is redefining healthcare by providing consumers access to care whenever they require. Further, the company’s mobile apps connect consumers to its products and services anytime and anywhere, making it easier for them to manage their health on their own terms.

CVS Health: Company Overview

Key Parameters	Description
Company Logo
Year of Establisment	1963
Number of Employees	10,000+
Headquarters	Rhode Island, US

In May 2023, CVS Health acquired Oak Street Health in order to broaden the former company's’ value-based primary care platform and significantly benefit patients’ long-term health by improving outcomes and reducing costs, particularly for underserved communities.

Further details on recent initiatives taken by CVS Health and other large pharmacy players have been provided in detail in the report.

In January 2024, Kroger Signed an Agreement to Continue its Collaboration with Centene to Provide High-quality Healthcare to the Patients

4. Kroger

Kroger is among the top 5 large pharmacy chains. The company is one of the world's largest retail brands, operating nearly 2,800 stores across 35 states. It is dedicated to its purpose of "Feeding the Human Spirit" by providing affordable, fresh and easy-to-enjoy food to over 11 million customers daily, both in-store and through convenient e-commerce options. The company claims to operate under two dozen grocery brands. The products offered by its popular private label brands, including Kroger, Private Selection and Simple Truth, are produced in Kroger's own manufacturing plants, showcasing its commitment to quality and value. Additionally, Kroger has pledged to create zero hunger zero waste communities by 2025, demonstrating its dedication to sustainability and social responsibility.

Kroger: Company Overview

Key Parameters	Description
Company Logo
Year of Establisment	1883
Number of Employees	10,000+
Headquarters	Ohio, US

In September 2023, the company collaborated with Performance Kitchen to offer medically tailored meals (MTMs). The company has also inked several partnerships in order to increase health access at affordable prices for its customers.

Further details on recent initiatives taken by Kroger and other large pharmacy players have been provided in detail in the report.

In April 2024, Walgreens Boots Alliance Added a New 18,000-square-foot Gene and Cell Services Pharmacy and Innovation Center in Pennsylvania, US

5. Walgreens Boots Alliance

Walgreens Boots Alliance is among the top 5 large pharmacy chains. Walgreens Boots Alliance is a US-based integrated healthcare, pharmacy and retail company. It is worth noting that the company has more than 12,500 retail stores across the globe. The company aims to create more joyful lives through better health by dispensing medicines, improving health services and offering digital convenience. Walgreens Boots Alliance employs approximately 330,000 people and operates in eight countries through its consumer brands. Moreover, the company is recognized for its inclusive workplace and sustainable practices, including being an index component of the Dow Jones Sustainability Indices (DJSI).

Walgreens Boots Alliance: Company Overview

Key Parameters	Description
Company Logo
Year of Establisment	2014
Number of Employees	10,000+
Headquarters	Illinois, US

In August 2023, Walgreens and VillageMD expanded their coordinated primary care and pharmacy services for their patients by opening the first Village Medical at Walgreens primary care practice in Chicago.

Further details on recent initiatives taken by Walgreens Boots Alliance and other large pharmacy players have been provided in detail in the report.

What About the Other Large Pharmacy Chains Around the World?

The above presentation features top 5 large pharmacy chains selected from a pool of over 20 players that we have profiled in our report. If you're interested, you can download the Sample Report on this topic by Roots Analysis. For personalized assistance in identifying the most relevant solutions based on your specific criteria, please don't hesitate to reach out to us at sales@rootsanalysis.com.

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