Industry Facts

The Shortage of Pharmacists

The worldwide lack of qualified pharmacists has reached critical proportions.
The role of pharmacists is far greater than simply filling and dispensing prescription medications. The role of educating patients coupled with growth in retail prescriptions and third-party coverage for prescription medications has resulted in an "acute" shortage nationwide.

Several concurrent developments have boosted the demand for pharmacists:

A growing population of older Americans is requiring more sophisticated drug therapies.
As baby-boomers age, scripts for prescription medication increases. Pharmacies respond by increasing their hours of operations and demanding more in return from their staff. As care moves from the inpatient to the outpatient setting - the number of retail prescriptions increased by 55 percent between 2002 and 2007- as well as greater roles in patient care according to pharmacists, and market growth in retail pharmacies, especially national chains.

A sharp rise in the number and complexity of therapeutic drugs
There are new therapies out there every day that are better for diabetes, blood pressure and heart disease so there are a lot more people receiving a lot more drugs. In 2007 doctors were estimated to have written 15 prescriptions for every American, with estimates of more than 9 billion scripts by 2013.

Expansion of services requiring pharmacists' knowledge and skills Pharmacy schools now offer a Doctor of Pharmacy degree (PharmD) and upon graduation are finding a larger role in drug therapy decision-making and patient counseling.

Higher Than Average Job Turnover
Studies of more than 2000 pharmacists found that job turnover among pharmacists was nearly twice the average than any other occupation, creating a mobile labor pool. Job turnover was particularly high among women pharmacists, who currently represent about 46 percent of registered pharmacists and two-thirds of new graduates. The number of women pharmacists increased from 17 percent of the pharmacist workforce in 1970 to 54 percent in 2006. Pharmacies are losing staff to research companies that offer better hours and less stress.

The Future of Pharmacy
The overall number of pharmacists is expected to increase over the next decade from 240,000 in 2007 to 350,000 in 2010.

The Income Rewards of a Career in Pharmacy
In 2003, pharmacists earned between $83,000-$87,000. With the nationwide shortage of pharmacists, starting salaries in 2007 are now averaging $95,000-$110,000 per year.