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Industry Landscape
The pharmacy industry is currently undergoing significant transformation, driven by evolving healthcare policies, technological advancements, and an increasing focus on patient-centered care. Pharmacists are expanding their scope of practice, engaging in more direct patient services, and playing a crucial role in medication management and public health initiatives. Professional organizations are vital for continuous education and advocacy.
Total Assets Under Management (AUM)
Number of Licensed Pharmacists in United States
~Approximately 334,000 (US Bureau of Labor Statistics, 2022)
(0% (projected 2022-2032) CAGR)
- The projected growth rate for pharmacists is stable, indicating a mature profession.
- Growth in certain specialized areas like clinical pharmacy may offset declines in traditional retail roles.
- Demand is influenced by an aging population and increased chronic disease management needs.
Total Addressable Market
542.9 Billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Drug Discovery & Development
Artificial intelligence is accelerating the identification of new drug targets, optimizing compound design, and streamlining clinical trials, leading to faster development of novel therapies.
Telepharmacy & Remote Patient Monitoring
Leveraging digital platforms for remote medication management, counseling, and monitoring allows pharmacists to extend their reach and provide care beyond traditional physical boundaries.
Blockchain for Supply Chain Management
Blockchain technology enhances transparency, security, and traceability throughout the pharmaceutical supply chain, mitigating issues like counterfeiting and improving recall efficiency.
Impactful Policy Frameworks
CMS Medicare Part D Redesign (2025)
The Inflation Reduction Act (IRA) of 2022 includes significant changes to Medicare Part D, effective 2025, redesigning the benefit, capping out-of-pocket costs for beneficiaries, and increasing manufacturer liability.
These changes will significantly alter the financial landscape for pharmacies, impacting reimbursement models and requiring APhA to provide extensive guidance on adapting business practices.
Preventing Opioid Abuse and Expanding Access to Treatment Act (2018)
This federal law expanded access to medication-assisted treatment for opioid use disorder by allowing more healthcare professionals, including pharmacists in some states, to prescribe and dispense buprenorphine.
It broadened the scope of practice for pharmacists, especially those with advanced training, allowing them to play a more direct role in addressing the opioid crisis and necessitating relevant APhA training programs.
Public Readiness and Emergency Preparedness (PREP) Act Declarations
Throughout the COVID-19 pandemic, PREP Act declarations expanded the authority of pharmacists to order and administer vaccines, diagnostic tests, and treatments, including for influenza and other common conditions.
These declarations temporarily and in some cases permanently expanded pharmacists' scope of practice, increasing demand for APhA's immunization and testing certificate programs and advocacy for permanent expansions.
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