Growing Service Portfolio: Pharmacy retail chains in Malaysia have established their online stores for customer convenience. Major companies in Malaysia have their E-stores and make deliveries in segments such as Vitamins & Minerals, Health Supplements and Personal Care items. The rising demand of online retailing bridged the gap between the pharmacies and customers as growth in internet penetration coupled with improving logistic landscape has complemented the growth in sales of pharmacy retail market via their e-stores.
Per Capita Health Spending: Per Capita Healthcare Spending in Malaysia has seen exponential growth with the rising number of prevalent diseases in the country. Exponential growth was seen in spending on nutrition health supplements, hair care, skincare & other personal care products from USD 400 to ~USD 450 in 2019 in Pharmacy & Personal Care Sector in Malaysia. Spending by Malaysians has increased over the years with a CAGR of 2.3% during 2013-2018 in terms of Per Capita Health Expenditure.
Separation of Dispensing & Prescription Rights: Malaysia has no clear boundary between the Dispensing and Prescription rights of doctors & Pharmacists. The role if done by separate parties would help patients in gaining benefits from the advice provided by the pharmacists on adequate medicine consumption. The rights are applicable in public sector, however still not approved for private health sector of the country. The proposed idea will ensure more participation from Pharmacists in the country, ensuring customer satisfaction.
Impact of COVID-19 on Malaysia Pharmacy Retail Industry: COVID19 has severely impacted all the industries in Malaysia. Pharmaceutical Association of Malaysia assured public with continuous supply of essential products and services amidst the Movement Control Order (MCO) being introduced by Federal Government of Malaysia to control COVID19 impact. Customer footfall at the Pharmacy outlets increased as a result of Panic buying with the lockdown announcement. However, it saw decline of 40%-50% in terms of customer footfall in the country during lockdown. Non-Pharmaceutical products such as Sanitizers, Personal Care Medications, Masks and other essential items saw surge in the demand among customers in Malaysia with an increase of 10%-15% in terms of number of online delivery of such products in the country.
Analysts at Ken Research in their latest publication “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 Areas”, the Malaysia Retail Pharmacy Market has been increasing due to increasing geographical presence of pharmacy outlets, rising number of pharmacists along with expansion in value added services offered by major players to sustain and increase their user base in the country. The market is expected to register a positive CAGR of 9.3% in terms of revenue during the forecast period 2020-2025.
Key Segments Covered:-
By Market Structure (Number of Pharmacy Outlets & Revenue in USD Mn)
Organized
Organized Mall Based
Organized High Street Stores
Unorganized
Unorganized Mall Based
Unorganized High Street
By Location (Number of Pharmacy Outlets & Revenue in USD Mn
Mall Based
Prescribed Drugs
Over-The-Counter
Non Pharmaceutical Products
Medical Equipments
High Street
Prescribed Drugs
Over-The-Counter
Non Pharmaceutical Products
Medical Equipments
By Product Sales
Prescribed Drugs
Over-The-Counter
Non Pharmaceutical Products
Medical Equipments
By Sales
Patented Drugs
Generics
By Region
Selangor
Johor
Kuala Lumpur
Sarawak
Others
By Therapeutic Areas
Anti-Infective
Cardiovascular
Pain/Analgesics
Vitamins/Minerals/Nutrients
Antibiotic
Respiratory
Gastro Intestinal
Gynaecology
Neuro
Others
Companies Covered:-
Watsons Malaysia
Guardian Pharmacy
Caring Pharmacy
Alpro Pharmacy
Healthlane Pharmacy
Multicare Pharmacy
AM PM Pharmacy
Cosway Farmasi
Aeon Wellness
AA Pharmacy
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 – 2013-2019
Forecast Period – 2020-2025
For More Information on the research report, refer to below link:-
Malaysia Pharmacy Retail Market
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
