The pharmacy market - Spain

Pharmacies are essential healthcare establishments in the drug distribution chain. In addition to dispensing treatments, they also provide local advice to patients. This sector encompasses the sale of medicines, parapharmaceuticals and healthcare products, as well as an increasing number of complementary health services. on a global scale, the pharmaceutical market is growing steadily. According to a study by Globe News Wire, the market is set to record a compound annual growth rate (CAGR) of 5.70% until 2028. This means that the value of the global drug market could reach $2067 billion by that date, driven by rising healthcare needs and pharmaceutical innovation. In Spain, this dynamism is also reflected at national level. In 2021, sales of medicines in pharmacies reached 10.7 billion euros. This growth confirms the importance of pharmacies in the Spanish healthcare system, for both prescription drugs and parapharmacy products. A key trend currently impacting the sector is the digitalization of pharmacies. The pandemic has accelerated the use of e-commerce, forcing pharmacies to adapt. In 2021, the online pharmacy market in Spain generated 296 million euros, thanks in particular to personal care products. Initiatives such as LUDA Partners, a Spanish start-up founded in 2017, are accompanying this transformation. It already brings together more than 2,000 pharmacies in 32 provinces, with 340,000 product references, and helps more than 30,000 patients quickly find the medicines they need. Thanks to technological tools, it can also increase online sales and improve the management of out-of-stock situations.