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CVS Health SWOT and PESTLE Analysis

ID : 52372953| Apr 2023| 21 pages

COMPANY PROFILE -CVS Health

Business Sector :Retail Pharmacy and healthcare services

Operating Geography :United States, North America, Global

About CVS Health :

CVS Health Corporation (formerly known as CVS Corporation and CVS Caremark Corporation) is an American retail pharmacy offering health care services. It is headquartered in Woonsocket, Rhode Island. Its key business segments include, Pharmacy Services, Retail or Long-Term Care, and Corporate. The Pharmacy Services provide pharmacy benefit management solutions, the Retail or Long-Term Care vertical deals with selling prescription drugs and assortment of general merchandise, whereas the corporate piece offers management and administrative services. The company was founded by Stanley P. Goldstein and Ralph Hoagland in 1963. The business which initially started as a chain of health and beauty aid store, gradually started adding pharmacies. The company operates over 9,900 retail locations in all 50 states, Puerto Rico, and Washington, D.C. The company also operates over 1,100 MinuteClinic walk-in medical clinics, providing a range of healthcare services such as immunizations, physical exams, and treatments for minor illnesses and injuries. As of early 2023, the company employs 300,000 people.

The USP of CVS Health lies in it being one of the largest pharmacy companies in the world. CVS Health is committed to making healthcare more accessible, affordable, and effective for its customers. The company has implemented a number of initiatives to achieve this goal, including expanding its MinuteClinic network, partnering with healthcare providers to offer integrated care solutions, and launching digital tools and services to help patients manage their health and medication.

CVS Health Revenue :


US $321.6 billion – FY ending 31st December 2022 (Y-o-Y growth 11%)
US $292.1 billion – FY ending 31st December 2021

Competitive Analysis of CVS Health

SWOT
PESTLE

The SWOT analysis report of CVS Health presents the internal analysis and external analysis of the Company with insightful details of the current market position and future business strategy of one of the biggest US drugstore market player. Amongst CVS Caremark’s major competitors, lies Walgreens and RiteAid. CVS Caremark's SWOT analysis essays the detailed business growth strategy of CVS Caremark Corporation with insights into its strengths, weaknesses, opportunities and threats. CVS Health's case study reveals that it is not only one of the largest retail pharmaceutical companies in the USA with a strong brand presence, which is undoubtedly one of its major strengths, but it also has tremendous opportunity to expand in the international markets.CVS Health is challenged with a titanic threat as formidable rival Amazon prepares itself for foraying into the pharmacy market.CVS Caremark Corporation has diverse offerings in anti-aging and beauty skin care products. CVS health brought about a great change by implementing its business strategy of brand building through pulling the brakes on tobacco sales, although it turned out to be a costly affair. The biggest pharmacy corporation giant CVS health has illustrated sound ability in facing the current headwinds. With a competitive business strategy, CVS is all set to enter a new vertical of insurance and managed care by the acquisition of Aetna.

The SWOT analysis for CVS Health is presented below:

Strengths
Weaknesses
1. Largest drug retailer in the U.S.A.
2. Consistent strong performance and financials building shareholder value
3. Broad spectrum of offerings in health and wellness with great accessibility.
4. ExtraCare loyalty program pushing OTC growth
5. Deliver best-in-class service through its strong business segments
1. Embroiled in lawsuits and controversies over refill practices causing erosion of brand and money
2. Weak presence outside of USA
Opportunities
Threats
1. Growth through acquisitions and collaborations
2. Aging population with increased prescriptive needs
3. Expansion to new and innovative product lines
4. 5G in healthcare market is expected to boom
5. Exploring digital health offering within metaverse
1. Conventional and un-conventional competition globally, in the drug retail sector and PBM (Pharmacy Benefit Manager)
2. Government regulations and interventions are impacting acquisition deals
3. Increasing competition from Mail order pharmacy
4. Increasing instances of cyber-security breaches
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of CVS Health

Strength

1. Largest drug retailer in the U.S.A.: CVS Health is USA’s largest drugstore chain operating over 9900 retail locations in 49 states, the District of Columbia, Puerto Rico and Brazil. The US drugstore market is ruled by 2 dominant players CVS Health and Walgreens. Drug Channels reported that CVS Healthcare attributed for over 24.5% of the total prescription dispensing revenues in America in 2021. Research by Barclays’ Meredith Adler points that over 50% of the drugstore markets in around 70 of the top 100 metropolitan areas are controlled by CVS Health and Walgreens. About 5 million customers are served by CVS Pharmacy each day and 2.4 billion adjusted prescriptions were dispensed or managed annually by them.

2. Consistent strong performance and financials: CVS featured on Rank #4 on Fortune 500 list in 2022 and has featured on the list for 24 years. It has shown consistent performance and maintains a strong bottom line. Revenues have shown a consistent upward spiral for the last 5-year term. Consolidated new revenues in 2021 jumped 8.7% year-on-year to $292,111 million. Total revenue growth was largely driven by growth across all segments. The Pharmacy Services division outperformed forecasts, with a full-year adjusted operating income increase of more than 20%.

The remaining section under "Strength" is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

This section is available only in the 'Complete Report' on purchase.

Threat

This section is available only in the 'Complete Report' on purchase.

Major Competitors :

Major Brands :

  • MinuteClinic
  • Omnicare
  • Coram
  • Specialty Connect
  • MyHealth Teams
  • Accordant
  • CVS Pharmacy
  • CVS Caremark
  • CVS Specialty

Key Business Segments / Diversification :

CVS Health
Retail pharmacy Pharmacy benefits management (PBM) Clinical services Specialty pharmacy
Digital services Healthcare
SWOT & PESTLE (combined)
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WHY BUY THIS REPORT?
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
The CVS Health SWOT and PESTLE Analysis report will offer the following:
  • Gain information about CVS health competitive analysis
  • An overview about CVS pharmacy, brief history,key business segments, diversification, major brands, health benefit offerings etc.
  • Key competitive advantages the Company enjoys in the US market
  • Detailed explanation regarding CVS Health's case study, market share, revenue growth, ownership and overall business strategy.
  • Insights into thehealth benefitsand unique health solutions CVS offers from advising on prescriptions, management of chronic and specialty conditions, running walk-in or minute clinics and pharmacy benefits management.
  • Gain a good understanding of CVS health internal analysis which includes its strengths and weaknesses.
  • Identify opportunities and threats which affect the external business Environment
  • CVS Health'spestle analysis on how the external factors have affected themacro environment of the pharmacy retail business at large and CVS Health in particular.
  • Track the pharmacy health sector and how specific political, economic, social, technological, legal and environmental factors wield their influence on CVS's growthstrategy.
  • Major partnerships, acquisitions, and mergers and how they have benefited the CVS brand. Gain intelligence on how CVS strategically uses them to ward competition and achieve growth
  • An understanding about the Company's health care benefits and business model
  • Major traditional and new-age competitors, and the threat they pose.

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Check Out Analysis of Other Relevant Companies

References used in CVS Health SWOT & PESTLE Analysis Report

1. The Top 15 US Pharmacies of 2021 - Market Share and Trends - https://www.drugchannels.net/2022/03/the-top-15-us-pharmacies-of-2021-market.html
2. CVS ExtraCare Program Gets Even Better: A Big Win For Customers - https://www.forbes.com/sites/shelleykohan/2021/06/15/cvs-extracare-program-gets-even-better-a-big-win-for-customers/?sh=74dc95dff1eb
3. CVS opioid settlement in Q3; Aetna MA growth; Centene-Cano deal - https://www.healthcaredive.com/news/cvs-opioid-settlement-third-quarter-aetna-ma-centene-cano/635524/
4. CVS Health to acquire Oak Street Health - https://www.cvshealth.com/news/company-news/cvs-health-to-acquire-oak-street-health.html
5. CVS Health to Acquire Signify Health - https://www.cvshealth.com/news/company-news/cvs-health-to-acquire-signify-health.html
The detailed complete set of references are available on request in the 'Complete report' on purchase.

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CVS Health SWOT and PESTLE Analysis - SWOT & PESTLE.COM

SWOT & PESTLE.com (2024). CVS Health SWOT and PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/cvs-health/ [Accessed 30 May, 2024].

In-text: (SWOT & PESTLE.com, 2024)

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CVS Health SWOT and PESTLE analysis has been conducted by and reviewed by senior analysts from Barakaat Consulting.

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CVS Health SWOT and PESTLE Analysis
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