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.
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
No comments:
Post a Comment