GURUGRAM, India, July 13, 2021 /PRNewswire/ -- Australia News
Key Findings
- More than 65% of all medicines dispensed are to those aged 65 or >65 years & most of whom are pensioners or concession card holders.
- 33% of customers at Pharmacies in Australia were driven by convenience of the location.
- Community pharmacies in Australia provide a national network of National Diabetes Services Scheme access points around 1.5 Million Australians with diabetes who have registered with the NDSS.
- Franchise model has become quite popular in Australia with new chains adapting to this model for faster store expansion.
Consolidation of Pharmacies in the Country: Medium Sized Chains are either expanding organically in terms of Number of Stores or becoming a part of bigger Banner Groups like Sigma Healthcare, API and EBOS Group. Financial performance of Banner/Franchise pharmacies is stronger than Independents regardless of stores owned. Major famous banner groups in Australia generate gross profit of 33% or above, higher than that of Independent Pharmacies. Pharmacy Chains under banner groups are enjoying stability in terms of medicine supplies and other software advantages.
Growing in E-Prescription Scenario: As a result of COVID-19 Pandemic, Government fast-tracked the rollout of e-prescriptions as part of the country's response to the situation. Australia's first e-prescription was dispensed at in Victoria in May 2020 as a result of COVID-19 Pandemic. Prescribers and dispensers across Australia have already generated more than 3.5 million electronic prescriptions and repeats as of May 2021. Expansion of e-prescription is staged to roll-out across rest of the country.
Rising E-Health Services: Federal Government of Australia announced expansion of Medicare i.e. subsidized telehealth services for all people in the country. Pharmacies are partnering with Tele consultation companies to enhance their service portfolio and hence increasing number of prescriptions and Medication demand at their stores. These services witnessed a huge surge in demand due to COVID-19 pandemic. More than 4.0 Million health and medical services have been delivered to a total of more than 3 Million patients through the telehealth items introduced by the Australian Government for the COVID-19 pandemic.
Analysts at Ken Research in their latest publication "Australia Pharmacy Retail Market Outlook to 2025- Led by Growth in Increasing Number of Customer Footfall and Organic Expansion of Pharmacies" observed that the Pharmacy Retail Market in Australia has been growing over the years as a result of rising Number of Services Offered, Per capita Health Expenditure, Health Budget of the country, Growth in Online Pharmacies & Tele consultations, More number of Stores and option of Home Delivery of medications. Australia Pharmacy Retail Market is anticipated to grow with a CAGR of 5.1% on the Basis of Total Revenue over the forecast period 2020-2025.
Australia Pharmacy Retail Market in terms of Number of Stores is expected to grow with a CAGR of 1.5% in the forecast period 2020-2025. Online Pharmacy Retail Market in terms of Revenue is anticipated to growth with a CAGR of 3.9% in the forecast period 2020-2025.
Key Segments Covered:-
- By Market Structure (Number of Pharmacy Outlets & Revenue in AUD Mn)
- Organized
- Prescribed Drugs
- Over-The-Counter
- Non Pharmaceutical Products
- Medical Equipments
- Unorganized
- Prescribed Drugs
- Over-The-Counter
- Non Pharmaceutical Products
- Medical Equipments
- By Product Sales (Revenue in AUD Mn)
- Prescribed Drugs
- Over-The-Counter
- Non Pharmaceutical Products
- Medical Equipments
- By Type of Pharmacies (Number of Pharmacy Outlets)
- Community Pharmacies
- Discount Pharmacies
- Hospital Pharmacies
- By Drug Type (Revenue in AUD Mn)
- Patented Drugs
- Generics
- By Region
- New South Wales
- Victoria
- Queensland
- Western Australia
- South Australia
- Tasmania
- Others
- By Therapeutic Areas
- Anti-Infective
- Cardiovascular
- Central Nervous System
- Pain/Analgesics
- Vitamins/Minerals/Nutrients
- Antibiotics
- Respiratory
- Gastro Intestinal
- Gynecology
- Others
Australia Pharmacy Market Companies Covered:-
- Priceline Pharmacy
- TerryWhite Chemmart
- Chemist Warehouse
- Advantage Pharmacy
- Amcal Pharmacy
- Discount Drug Stores
- My Chemist
- Guardian Pharmacy
- Direct Chemist Outlet
- Healthsave Pharmacy
- Blooms the Chemist
- Pharmacy4less
- Pharmacy777
- Pharmasave
- Star Pharmacy
- Capital Chemist
- Pharmacist Advice
- Soul Pattinson Chemist
- Good Price Pharmacy
- Ramsay Pharmacy
- National Pharmacies
- Cincotta Discount Chemist
- Wizard Pharmacy
- Wholelife Pharmacy
- Chemist King
Pharmacy Information System (PIS) Software Companies
- FRED ID
- Minfos
- RxOne
- POSWORKS
- Mountaintop Solutions
- Simple Retail
- Corum Health
- Zsoftware
Key Target Audience:-
- Pharmaceutical Manufacturing Companies
- Pharmacy Retail Companies
- Independent Pharmacies
- Pharmacy Information System Provider Companies
- Online Pharmacy Companies
- Industry Associations
- Regulatory Bodies
- Telemedicine Companies
- Pharmaceutical Distributors & Wholesalers
Time Period Captured in the Report:-
- Historical Period: 2015-2020
- Forecast Period: 2021-2025
Key Topics Covered in the Report:-
- Overview of Australia Pharmacy Retail Market
- Trends and Growth Drivers in the Industry and Challenges Faced
- Australia Pharmacy Retail Market Size and Segmentations, 2013 - 2019
- Ecosystem and Value Chain of Pharmacy Retail Market in Australia
- Distributors & Wholesalers Landscape in Australia Pharmacy Retail Market
- Industry SWOT Analysis
- Australia Online Pharmacy Landscape
- Pharmacy Information System Software Landscape
- Case Study- Pharmacy Banner Groups
- Telemedicine & Online Consultations Snapshot
- Contraceptive Demand among Customers in Australia
- Cross Comparison between Major Players and Company Profiles
- Future Market Size and Segmentations, 2020P-2025F
- Covid-19 Impact on the Industry & the Way Forward
- Analysts' Recommendations
- Australia Pharmacy Retail Revenue
- Australia Number of Pharmacy Stores
- Australia Telemedicine Market
- Australia Online Consultations
- Australia E-Prescriptions Market
- Australia Pharmacy Customer Footfall
- Community Pharmacies Australia
- Australia Number of Pharmacists
- Australia Pharmaceutical Products
- Prescribed Drugs Revenue Australia
- Chemist Warehouse Australia Market Share
- Priceline Pharmacy Australia Market Share
- TerryWhite Chemmart Australia Market Share
- Australia Pharmacy Retail Market Share
- Generic Drugs Revenue Australia
- Major Players Australia Pharmacy Retail Market
- New South Wales Pharmacy Revenue
- Victoria Pharmacy Retail Revenue
- Queensland Pharmacy Revenue
- Australia Therapeutic wise Revenue
- Anti Infective Revenue Australia
- Cardiovascular Medicines Revenue
- Health Statistics Australia
- Australia Pharmacies Number of Stores
- Australia Pharmacy Retail Future
- Pharmacy Chains Future Revenue
- Tasmania Number of Pharmacies
- New South Wales Number of Pharmacies
- Telemedicine Players Australia
- Patented Drugs Revenue Future Australia
- Australia Pharmacy Future Revenue
- Australia Pharmacy Retail Market COVID-19 Impact
For More Information on the research report, refer to below link:-
Australia Pharmacy Retail Market
Related Reports:-
Indonesia Pharmacy Retail Market Outlook to 2025 By Market Structure (Organized & Unorganized); By Region (West Java , East Java , Central Java , Jakarta , North Sumatra & Others); By Product Categories (Prescribed, OTC, Non-Pharmaceutical Products & Medical Equipment); By Therapeutic Areas; and By Product Type (Patented & Generic Drugs)
Indonesia's pharmacy retail sector is in the growing phase with the presence of over 40,105 drugstores and pharmacies along with revenue CAGR of 8.1% during 2014-2019. Increasing incidence of life-style related ailments such as Diabetes, Obesity, hypertension, and various heart-related diseases and prevalence of communicable diseases such as TB, influenza among the growing population are the main reasons behind positive growth in pharmacy retail revenue due to increased sales of private-label goods. Another major driver is the aging population. The UN has predicted that the percentage of Indonesians over 60 years old will reach 25% in 2050 or nearly 74 million elderly people.
Thailand Pharmacy Retail Market Outlook to 2025 - By Market Structure (Organized & Unorganized Segment); By Region / Cities (Bangkok & its Vicinity, Central, South, Northeast, North, Eastern & West); By Product Categories (Prescribed, OTC, Non-Pharmaceutical Products and Medical Equipment); By Therapeutic Areas; and By Product Type (Patented & Generic Drugs)
Volatile growth was observed within Thailand pharmacy retail market as multiple pharmacy stores closed due to the non-compliance of GPP standards required by the FDA. However, the closure of pharmacy outlets resulted in higher customer footfall in other pharmacies; hence a lower revenue growth rate was recorded in the year 2019. The market was observed in the growth stage owing to the growing intensity of competition among the retail pharmacies in the market in terms of wide product offering and value added services. The franchise model has become quite popular with new chains adapting to this model for faster store expansion. Moreover, the collaboration between state hospitals and small chains has helped patients being treated under "UHC" alongside the growth of pharmacy stores. Change in population structure i.e. the transition to the Thai aging society has led to a surge in drugs (including dietary supplements) demanded towards chronic diseases such as hypertension, diabetes, and others. The market is booming owing to the rising number of cases of NCDs, online pharmacy services, increasing government health expenditure, and other growth drivers.
Vietnam Pharmacy Retail Market Outlook to 2025-By Market Structure (Organized & Unorganized); By Region (North, South & Central); By Hospital-based & Street/Mall-based; By Product Categories (Prescribed, OTC, Non-Pharmaceutical Products & Medical Equipment); By Therapeutic Areas; and By Product Type (Patented & Generic Drugs)
The Vietnam Pharmacy Retail Market is in growing stage with increasing healthcare awareness due to growth of ageing population and rising per capita drug expenditure. The rising cases of non-communicable diseases have also contributed to the growth in the demand for drugs across various therapeutic classes. In recent years, chain pharmacy stores have been increasing their presence by opening new stores in different provinces. Government initiatives such as launching of a national medicine database as well as telemedicine platform are also positively impacted the industry. Vietnam Pharmacy Retail Market witnessed a revenue growth of 6.8% during 2014-2019 and CAGR of 8.7% basis number of pharmacies.
Philippines Pharmacy Retail Market Outlook to 2025 - By Market Structure (Organized and Unorganized), By Location (Standalone and Hospital Based), By Region (North, Central and South), By Product Sales (Prescribed Medicines, OTC Products, Non Pharma Products and Medical Equipments), By Drug Type (Generic And Patented) and By Therapeutic Class
The Philippines Pharmacy Retail Market is a booming industry backed by the growing demand for the generic medicines and increase in the number of chain pharmacies. The market had presence of different type of pharmacy stores such as Chinese drugstores, traditional medicine shops which are now replaced with modern American style pharmacies. The independent pharmacies and regional chains are being acquired by big national chains for expedited expansion. Further, some chains have also adopted the franchise model for store expansion. The high price for pharmaceutical products has shifted the consumer towards the consumption of generic medicines which are now in high demand. The government is revamping the public medicine distribution system in order to make them accessible to the people in rural areas. Online pharmacies are a relatively new concept and are gaining traction in the region. The market witnessed a growth of 3.4% during 2014-2019.
Taiwan Pharmacy Retail Market Outlook to 2025 - By Market Structure (Organized and Unorganized), By Region (Taipei Division, Northern Division, Central Division, Southern Division, KaoPing Division and Eastern Division), By Product Sales (Prescribed Medicines, OTC Products, Non Pharma Products and Medical Equipment's), By Drug Type (Generic And Patented) and By Therapeutic Class
The Taiwan Pharmacy Retail Market is a growing market. The country has universal coverage of health insurance which covers both western medicines and traditional Chinese medicines. The National Health Insurance provides drug reimbursement in which more than 17,000 prescription drugs are covered. In this model, the customer needs to make small co-payment (in order to avoid the wastage and misuse of drug) and the remaining amount is sponsored by the government. The chain pharmacy stores are increasing their presence by opening new stores and acquiring independent stores or small regional chains. Some pharmacy chains have also adopted the franchise model for store expansion. Pharmacies chains are focusing on selling high margin products such as Maternal and Baby Supplies, Cosmetics, Nutritional Supplements and others in order to increase the profitability of their stores. The Taiwan Pharmacy Retail Market witnessed a revenue growth of 2.8% during 2014-2019.
Malaysia Pharmacy Retail Market Outlook to 2025- By Market Structure (Organized & Unorganized), By Location (Mall Based & High Street), By Product Sales (Prescribed Drugs, Generics, Non Pharmaceutical Products, Medical Equipments), By Drug Type (Patented & Generics) and By Therapeutic Class
Malaysia Pharmacy Retail market in terms of revenue increased at a single digit CAGR over the review period 2013-2019. The market was observed to be at growth stage owing to growing intensity of competition among the retail pharmacies in the market in terms of wide product offering and value added services. The Malaysia pharmacy retail industry has grown at a CAGR of 9.7% on the basis of revenue and a CAGR of 3.9% on the basis of number of pharmacy retail outlets over the period 2013-2019. The market is booming owing to rising number of cases of NCDs, growing online pharmacy services, increasing government health expenditure, consolidation of smaller chains to expand in different regions and services such as Online Consultations & E-Prescriptions coupled with per capita health expenditure of individuals in Malaysia.
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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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