COVID 19 Impacts on Australia Pharmacy Retail Market| Ken Research

Australia Pharmacy Retail Market

How Is The Australia Pharmacy Retail Market Positioned?

Market Overview: Australian Pharmacy Retail market in terms of revenue increased at a single digit CAGR over the review period 2015-2020. The market was observed to be at growth stage owing to growing intensity of competition among the Major Pharmacy Chains & Banner Groups in the market in terms of wide product offering and Value Added Services.

The Pharmacy Retail industry in terms of No. of Pharmacy Stores has grown at a CAGR of ~% during the period 2015-2020. Growth in industry driven by Services such as Online Consultations, E-Prescriptions & per capita Health Expenditure of individuals in the country.

Australia has approximately ~ community pharmacies, ~ pharmacy chains and ~ thousand pharmacists. In addition to that, Pharmaceutical Benefits Scheme by Government has helped patients in getting affordable medicines at pharmacy stores. >~% of Pharmacies in Australia has achieved quality accreditation thereby providing Quality Services to Australians. Community Pharmacies are the most accessible health destination, with >~ million individual patient visits annually. A person visits a pharmacy 18 times each year, in metropolitan, remote & rural locations in Australia.

Australia Pharmacy Retail Market _Infographic

Australia Pharmacy Retail Market Segmentation

By Market Structure: Pharmacy Chains in the industry dominated the revenues & No. of Stores in pharmacy retail market in Australia in 2020. Pharmacy Chains has established strong presence across all the regions in Australia that resulted in higher footfall of customers at these outlets.

By Type of Pharmacies: Community Pharmacy dominates the market in terms of Number of Stores, followed by discount pharmacies in the country in 2020. Prescribed, OTC and Non-Pharma Products were the major categories being demanded at community Pharmacies.

By Product: Prescribed Medicines dominated the market in terms of Revenue largely due to the higher costs of such medicines in 2020. Among the other product categories, Over-The-Counter and Non Pharmaceutical Products were consistently growing in terms of Revenue Share. Medical Equipments being the last category showed stable growth over the years in the country.

Demand for Non-Pharmaceuticals and OTC is consistently growing in Pharmacy Chains Stores whereas Prescribed Drugs & OTC are generally purchased by the customers from the Independent Stores. Amidst the COVID-19 crisis, Over the Counter Medicines saw a significant increase in percentage in terms of market share in the product category.

By Therapeutic Class: Cardiovascular and Anti-Infective dominated the market in terms of revenue followed by CNS and Vitamins/Minerals and Nutrients in 2020 majorly due to the number of cases and medicine dispensed over the last 5 years.

By Drug Type: Generic Drugs dominated the market in terms of revenue largely due to their affordability and availability to the customers in their nearby stores. On the other hand, patented drugs in the market are generally being recommended by the doctors and are usually taken for chronic diseases.

By Region: New South Wales and Victoria accounted for more than ~% share in terms of revenue and Number of Stores in 2020. Region dominated as a result of major number of locations in these regions, higher number of Pharmacists and also because of High population in the region.

Market Competition

Competition in Pharmacy Retail Market in Australia is moderately concentrated with support from Banner Groups in terms Supplies and other Technology related Backups. Pharmacy Chains are scattered across multiple regions in Australia. Top 3 players capture ~% share in the overall Industry Revenue and in terms of Number of Stores. Players in Pharmacy Retail Space competing on the basis of Number of Customers in a day, Average Basket Size, Number of Products Offered, Type of Services, Geographical Locations, Number of Stores, Online Presence, Home Delivery, Value Added Services etc.

Australia Pharmacy Retail Market Future Outlook and Projections

Over the forecast period, Australia Pharmacy Retail Market is expected to reach ~AUD Mn i.e. with a CAGR of ~% in terms of Revenue as a result of expected Growth in Proportion of Population More than 60 Years old, Growing per capita health expenditure, number of Pharmacy Stores, growth in customer footfall, Growth in Number of Insured Patients, Tele consultations and E- Prescriptions.

In addition to that Growth in Healthcare Expenditure along with multiple strategies implemented by Pharmacies such as opening of store for 24/7 will complement the Revenue Growth in the industry. Market in terms of Number of Pharmacy Stores and Revenue will witness a single digit growth rate in future.

The market in terms of Number of Stores is anticipated to reach with a CAGR of ~% during 2020-25.

Australia Online Pharmacy Landscape

Online Pharmacy Market in Australia is growing over the years & has increased significantly as a result of increased confidence in online shopping, as lockdown restrictions forced consumers online, is also expected to have boosted demand for industry operators.

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

Gynaecology

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

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

For More Information on the research report, refer to below link: –

Australia Pharmacy Retail Market Analysis

Related Reports by Ken Research: –

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)

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)

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

Contact Us: –
Ken Research
Ankur Gupta, Head Marketing & Communications
[email protected]
+91-9015378249

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source: https://www.kenresearch.com/blog/2021/07/covid-19-impacts-on-australia-pharmacy-retail-market-ken-research/


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