I want help looking into how many pharmacies in the US are "independent", meaning, they are not owned by a large chain such as W

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Number Of Independent Pharmacies

There are about 21,909 independent or privately owned pharmacies in the United States. Over the past 3 to 5 years, this number has declined by 0.6%. It is expected to keep reducing due to challenges like exorbitant direct and indirect remuneration (DIR) fees.

NUMBER OF INDEPENDENT PHARMACIES IN THE US

  • Currently, there are over 67,000 pharmacies in the United States.
  • More than 60% of pharmacies in the US are part of hospitals, clinics, drug stores, universities, grocery store, and other facilities. On the other hand, roughly 30% to 40% of pharmacies in the United States are privately owned or independent.
  • Based on 2017 data, there are currently 21,909 independent or privately owned pharmacies in the United States.
  • Independent or privately owned pharmacies are also known as small business community pharmacies.
  • About 1,800 independent pharmacies in US rural areas are the only pharmacies in their community with the closest pharmacy to them being in a different county or several miles away.
  • Independent pharmacies in the US employ roughly 240,000 part-time and full-time employees and fill almost 35% of all retail prescriptions.

GROWTH OF INDEPENDENT PHARMACIES IN THE US

  • Over the past few years, the number of independent pharmacies in the US has declined and is predicted to keep reducing.
  • There were up to 23,106 privately owned pharmacies in the US in 2011. By 2016, this figure reduced to 22,041 pharmacies.
  • The number of independent pharmacies in the US is expected to be less than 20,000 by 2025.
  • Independent pharmacies in the US face a lot of challenges which is why most of them close down their business.
  • The main federal issue faced by independent pharmacies include high direct and indirect remuneration (DIR) fees extracted by pharmacy benefit managers when a transaction takes place.
  • Other federal issues include the lack of transparency related to the pricing of generic prescription drugs and being excluded from "preferred pharmacy arrangements."
  • Large retail chains/stores are also buying out successful independent pharmacies to eliminate competition.
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Total Number Of Pharmacies

As of 2019, there are 59,526 pharmacies in the US compared to 67,000 in 2017 and 67,753 in 2015. This means that the number of pharmacies in the US has declined over the past 3 to 5 years. Independent pharmacies are proffered to retail chains due to the personalized services they offer. US patients also say that these pharmacies provide better customer service and are friendlier.

NUMBER OF PHARMACIES IN THE US & GROWTH

  • As of 2017, there were roughly 67,000 pharmacies in the United States. However, more recent reports estimate that there are 59,526 pharmacies as of 2019.
  • Pharmacy chains like Walgreens, CVS, Kroger, Walmart, and Target account for about 28,000 of all pharmacies in the US.
  • Although the number of pharmacists in the US has increased by 13.7% over the past decade, the number of pharmacies in the US has declined over the past 3 to 5 years.
  • In 2007, the number of pharmacies in the US was 63,752. This figure increased to 67,753 pharmacies in 2015 and has since reduced to 59,526 as of 2019.
  • In the next few years, the number of pharmacies in the US is forecast to remain the same or see very little change.
  • Mass retailers, retail chains, and food store pharmacies account for 57% to 62% of US pharmacies.
  • The US market size for pharmacies and drug stores is $313 billion as of 2019. The market saw a compound annual growth of 2.8% from 2014 to 2019.
  • US pharmacies and drug stores employ over 730,000 individuals.

INDEPENDENT PHARMACIES OVER CHAIN PHARMACIES

  • Based on surveys by Consumer Reports and JD Powers, people in the US prefer independent pharmacies to retail chains because privately owned pharmacies provide better customer service. These individuals reported that at independent pharmacies, they are a name or family rather than a number.
  • Most consumers will also rather spend money on local pharmacies to build their community as opposed to large corporations.
  • Patients also mention that they receive personalized care and attention in independent pharmacies which leaves little to no room for mistakes.
  • The most common reasons cited for the preference of independent pharmacies to retail chains include the expertise of independent pharmacies in filling prescriptions and their friendliness in answering questions.
Sources
Sources