The report titled “Australia Pharmacy Retail Market Outlook to 2025- Led by Growth in Increasing Number of Customer Footfall and Organic Expansion of Pharmacies” provides a comprehensive analysis of Pharmacy Retail Services in Australia. The report covers various aspects including market size (Total Revenue and Number of Pharmacy Stores), Market Segmentations, Healthcare Landscape, Health Insurance, Trends & Developments, Pharmacies Geographical Landscape, Issues and Challenges, Government Regulations, COVID Impact, Online Pharmacy Market, Pharmacy Information System Software Landscape in Australia and Competition Landscape of Major Players.
The Australia pharmacy retail market report concludes with projections for the future of the industry including forecasted revenue by 2025, market segmentation, and analysts’ take on the future.
Australia Pharmacy Retail Market Overview and Size
Pharmacy Retail Market in Australia has witnessed a moderate rise over the review period 2015-20. Growth in Number of Pharmacists, Proportion of Ageing Population Proportion, Increasing Number of Healthcare Problems, per capita healthcare expenditure, a number of insured patients, PBS Scheme etc. has augmented the growth in Australian Pharmacy Retail Market. New South Wales, Victoria and Queensland are the regions with a maximum number of customer footfall and average basket size. The growth in the Market was further supported by Pharmacies’ expansion in terms of the Number of Stores, services and home deliveries of medications to the patients in the country.
COVID-19 Pandemic on the other hand impacted the customer footfall and average basket size of customers for initial few months of the pandemic. However, as the restrictions were reduced the situation also got back to normal.
Australia Pharmacy Retail Market Segmentations
By Market Structure: In terms of Number of Pharmacy Stores and Revenue, Pharmacy Chains captured majority of the share in 2020. Pharmacy chains provide multiple value added services along with Click and Collect and Home Delivery option. Independent Stores on the other hand focuses on providing Patented and Generic Drugs as it is preferred by Australians largely for such categories.
By Type of Pharmacy: 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 Type of Products: Prescribed Drugs dominate the market in Australia in 2020, followed by Over the Counter medicines. High growth was recorded in OTC segment as a result of COVID-19 Pandemic wherein major medicines taken were for Analgesics, Cough & Cold Digestive Care etc.
By Therapeutic Area: Cardiovascular dominated the market in terms of Revenue in the country as Australian adults aged 18 years and over had 1 or more conditions related to heart or vascular disease in 2020. It is followed by Anti Infectives, Central Nervous System, Vitamins Minerals & Nutrients and Pain/Analgesics.
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. Patented drugs on the other hand were largely taken by the Patients with severe diseases taking medicine through Prescriptions.
Type of Regions: New South Wales and Victoria accounted for more than 50% share in terms of revenue and Number of Stores in 2020. The 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.
Competitive Landscape of Australia Pharmacy Retail Market:
The competition in the Pharmacy Retail Market in Australia is moderately concentrated with the presence of more than 2-3 Major community Pharmacies in 2020. Major Pharmacies in Australia include Chemist Warehouse, Priceline Pharmacy, TerryWhite Chemmart, Amcal, Discount Drug Store, Healthsave Pharmacy, Advantage Pharmacy, Guardian, Direct Chemist Outlet and few others. Players in the industry compete on the basis of parameters such as 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.
Online Pharmacy Market in Australia
Online Pharmacy Market in Australia is growing over the years. Market witnessed comparatively higher surge in terms of Revenue in 2020 as more individuals shopped online rather than visiting an offline store. Online Pharmacy Revenue is anticipated to grow with a CAGR of around 4% during the forecast period 2020-2025.
Australia Pharmacy Retail Market Future Outlook and Projections
Australia Pharmacy Retail Market in terms of Total Revenue is expected to grow at a CAGR of 5.1% over the period 2020 to 2025. The market in future is anticipated to grow as a result of growth in number of Pharmacy Stores, growth in customer footfall, Proportion of elderly population and awareness of services among different customer cohorts. 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.
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
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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
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