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 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
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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
