Japan Drugstore Market Insights Forecasts to 2033

• The Japan Drugstore Market Size was valued at USD 101.5 Billion in 2023.
• The Market is growing at a CAGR of 5.07% from 2023 to 2033
• The Japan Drugstore Market Size is expected to reach USD 166.5 Billion by 2033

The Japan Drugstore Market is anticipated to exceed USD 166.5 Billion by 2033, growing at a CAGR of 5.07% from 2023 to 2033. The growing prevalence of diseases, healthcare awareness, and government initiatives are driving the growth of the drugstore market in the Japan.     

Market Overview

Drugstore provides in-store health services like immunizations, health screenings, and consultations. These are stocking more functional foods, wellness goods, and health supplements as the emphasis on preventive healthcare grows. Pharmacies have developed into one-stop shops for those looking for answers to a variety of health issues. Drugstores can decrease adverse drug responses, increase treatment adherence, and improve patient comprehension of their prescriptions by providing tailored medication reviews, adherence counseling, and medication synchronization programs. The expansion of in-store health services, e-commerce, and digitalization, an emphasis on preventative healthcare, eco-friendly and sustainable products, and the use of AI and technology are some of the upcoming trends in the Japan drugstore market. Further, medical therapy management (MTM) is significantly driving the market growth.

Report Coverage

This research report categorizes the market for the Japan drugstore market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan drugstore market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Japan drugstore market.

Driving Factors

In Japan, where there is a significant aging population, there is an increasing demand for comprehensive drug management, particularly among older people who have several chronic illnesses driving the Japan drugstore market. People become more aware of health-related problems and preventive actions which is propelling the market growth. Furthermore, government initiatives are also responsible for driving the market. For instance, Impinj declared its backing of Japan's Ministry of Economy, Trade and Industry (METI) plan to electronically link products in all of the country's drug stores.

Restraining Factors

The intense conflict between different store formats, a rise in on-site pharmacies, and a scarcity of pharmacists restrain the Japan drugstore market.

Market Segmentation

The Japan Drugstore Market share is classified into product and area of operation.

• The food segment dominated the market with the largest market share in 2023.

The Japan drugstore market is segmented by product into food, household utensils, beauty care, OTC drugs, dispensing, health care, and others. Among these, the food segment dominated the market with the largest market share in 2023. The food section of drugstores in Japan carries a broad range of consumables, such as drinks, snacks, health foods, and nutritional supplements. The growing need for convenient foods and awareness about health and wellness are driving the market.

• The stores with floor area of 300 m² or above segment is expected to grow at the fastest CAGR during the forecast period.       

Based on the area of operation, the Japan drugstore market is divided into stores with floor area of 300 m² or above and stores with floor area of less than 300 m². Among these, the stores with floor area of 300 m2 or above segment is expected to grow at the fastest CAGR during the forecast period. Relatively large retailers with the capacity to effectively handle a variety of goods, such as food and everyday essentials. The elderly population and growing acceptance of self-medication have expanded the product selection offered by pharmacies to include functional foods, health foods, and nursing care items.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan drugstore market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Welcia Holdings Co., Ltd.
• Tsuruha Holdings Inc.
• MatsukiyoCocokara & Co
• Sumitomo Corporation
• Sundrug Co., Ltd.
• Cawachi Ltd.
• Satudora Holdings Co., Ltd.
• Genky DrugStores Co., Ltd.
• Cosmos Pharmaceutical Corporation
• Yakuodo Holdings Co., Ltd.
• Sugi Holdings Co., Ltd.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Japan, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Japan Drugstore Market based on the below-mentioned segments:

Japan Drugstore Market, By Product

• Food
• Household Utensils
• Beauty Care
• OTC Drugs
• Dispensing
• Health Care
• Others

Japan Drugstore Market, By Area of Operation

• Stores With Floor Area of 300 m² or above
• Stores with Floor Area of less than 300 m²