Over the past five years, the U.S. has lost 11% of its retail pharmacies, creating pharmacy deserts that now affect 45 million people. While CVS and Walgreens once expanded aggressively, they are now scaling back, closing thousands of locations in response to rising costs, pricing pressures, and shifting consumer behavior.

 Key insights from the report:

• 7,000+ pharmacies closed since 2019, with independent stores hit the hardest.
• Lower reimbursement rates & e-commerce competition are squeezing margins.
• CVS retains market share despite closures, while Walgreens struggles.
• The industry is moving from consolidation to rationalization, reshaping how Americans access medications.

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