“Growth in the coverage of statutory health insurance coupled with an increase in population has led to rising domestic consumption of pharmaceuticals in Germany.”
Analysts at Ken Research in their latest publication “Germany Retail Pharmacy Market Outlook to 2023 - By Type of Pharmaceuticals (Prescription Only, Pharmacy-Only, Supplementary Products, and Unrestricted OTC pharmaceuticals); By Total Number of Main and Franchise Pharmacies; and By The Federal States” believe that increasing value-added services, rise in branch pharmacies, improved inventory management through automation, proper medical management, adoption of digital prescriptions and increased availability of home delivery service. The market is expected to register a positive CAGR of 3.2% in terms of revenue during the forecast period of 2018–2023E.
Growing Coverage of Statutory Health Insurance: Increasing coverage of statutory health insurance has led to the increased demand of pharmaceutical products, majorly, of prescription-only drugs, which is the dominant segment in Germany retail pharmaceutical market. Health insurance is mandatory for German citizens. Germany provides ready access to a stable market of healthcare consumers with a clear and adequately distributed expenditure system. The German healthcare system is funded by both public and private contributions; however, the government remains the major provider of healthcare expenditure.
The provision of statutory health insurance acts as a combined benefit both for the consumers and the pharmacies. The expense of drugs and other medications of the patients are easily reimbursed as a result; this allows the citizens to freely access the medical services for every kind of disease or illness they are suffering from. It gives a boost to the demand for drugs and other supplementary medical aids, hence, pushing the companies to manufacture multiple innovative medications.
In Accordance with the ABDA report, there were 112 health insurance funds and companies involved at the end of 2017. All categories under pharmaceuticals experienced a constant rise in SHI expenditure, and, out of more than EUR 230.0 billion that the statutory health insurance (SHI) spent in 2017, the largest proportion went towards hospitals and miscellaneous costs, for instance, sick pay, home nursing, and travel expenses as well as vaccinations including doctor’s fees.
Statutory Health Insurance (SHI) has particularly catered the patients consuming prepackaged pharmaceuticals, which play an important role in treating illnesses such as cancer (oncology) or autoimmune disorders (immunosuppressive drugs). The country has been witnessing a demographic shift with a higher proportion of its population entering into old age; thereby increasing the demand for medications.
Rising Population: At the end of 2017, Germany’s population was 82.8 million up from 80.4 million inhabitants in the year 2012. According to estimates of the Federal Statistical Office, approximately 83.0 million people were living in Germany at the end of 2018. In the long-term, Germany’s population is projected to trend around 83.5 million by the year ending 2020. Furthermore, growing awareness amongst people towards preventive healthcare has boosted the consumption of healthcare aids, such as dietary supplements, vitamin and mineral items, herbal medicines, and others thus, aiding the retail pharmacy market of Germany to expand both in terms of value and volume.
Key Segments Covered:-
Market Segmentation in Germany Retail Pharmacy Market
By Type of Pharmaceutical (Prescription- Only, Pharmacy – Only, Unrestricted OTC and Supplementary Products)
By Prescription and non – prescription
By specific type of pharmacy
By number of main/individual and branch pharmacy
By region
Market Segmentation in Germany Mail – Order Retail Pharmacy Market
By Over – The – Counter and Beauty Cosmetic Products: and Prescription Based Drugs
Key Target Audience:-
Hospitals
Individual Clinics
Pharmaceutical Companies
Time Period Captured in the Report:-
Historical Period – 2012-2018
Forecast Period – 2018-2023
Companies Covered in Germany Retail Pharmacy Market:-
DocMorris
RossMann
Muller
Budnikowsky
Companies Covered in Germany Mail – Order Retail Pharmacy Market:-
DocMorris
Shop Apotheke
Medpex.de
Apotal
MyCare
Others (Eurapon, Vistalsana)
Keywords:-
Retail Pharmacy Market Germany
Retail Pharmacy Market Germany
Independent Pharmacy Market Germany
Report Of Germany Retail Pharmacy Market
Germany Independent Pharmacies Number
Germany Pharmacy Chain Market
Retail Pharmacy Germany
Pharmaceutical Market in Germany
Germany Retail Pharmacy Association
Germany Retail Pharmacy Offline Sales
Online Retail Pharmacy Germany
Pharmacy Revenue Germany
Mail-Order Pharmacies in Germany
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Ankur Gupta, Head Marketing & Communications
+91-9015378249
