Nearly three out of 10 U.S. drugstores that were open in the previous decade had closed by 2021, according to a study published in Health Affairs.
The big picture: The closures disproportionately affected Black and Latino neighborhoods, which already had limited care options, leading to decreased accessibility to essential services in these communities.
- Major drugstore chains such as Walgreens, CVS, and Rite Aid have faced financial challenges due to shrinking prescription reimbursements, rising costs, and evolving customer shopping habits, resulting in closures and store consolidations to more profitable locations.
Go deeper: Research based on data from the National Council for Prescription Drug Programs revealed that over 29% of retail U.S. pharmacies – approximately 26,000 stores – had closed by 2021 out of nearly 89,000 that operated between 2010 and 2020.
- Independent pharmacies, especially those in Black, Latino, low-income neighborhoods, and areas with higher Medicaid and Medicare patient populations, were at higher risk of closure compared to chain stores.
