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Pharmacies & Drug Stores in Texas - Industry Market Research Report

Pharmacies & Drug Stores in Texas - Industry Market Research Report

  • August 2017
  • 28 pages
  • ID: 5470334
  • Format: PDF
  • By Ibisworld

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Spoonful of sugar: Healthcare reform is expected to bolster pharmaceutical sales

Abstract

Pharmacies & Drug Stores in Texas
The Pharmacies and Drug Stores industry in Texas performed strongly over the five years to 2017. Pharmacy and drug store operators benefited from favorable macroeconomic conditions, such as increased consumer spending and steadily rising total health expenditure. Operators in Texas were able to capture larger profit margins over the five years to 2017, thanks to a low minimum wage and reduced cost of doing business in the state. Over the next five years, healthcare reform is anticipated to increase the number of individuals with private health insurance in Texas, increasing the number of individuals who can afford prescription medicine, thereby increasing the volume of pharmaceuticals sold at industry locations.

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.

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