Malaysia Online Pharmacy Retail Market Overview
Malaysia
Pharmacy Retail market in terms of revenue augmented at a single digit CAGR
over the review duration 2013-2019. The market was witnessed to be at growth
stage due to increasing intensity of competition among the retail pharmacies in
the market in terms of wide product proposing and value-added services. The
Malaysia pharmacy retail industry has augmented at a CAGR of 9.7% on the basis
of revenue and a CAGR of 3.9% on the basis of number of pharmacy retail outlets
over the duration 2013-2019. The market is booming due to growing number of
cases of NCDs, increasing online pharmacy services, growing government health
expenditure, consolidation of smaller chains to enlarge in dissimilar regions
and services such as Online Consultations & E-Prescriptions coupled with
per capita health expenditure of the individuals in Malaysia.
Report Analysis
According
to the report analysis, ‘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 Class’ there are several
companies which presently working in Malaysia Pharmacy Retail Market more
efficiently for keep maintaining the governing position, leading the highest
market growth, obtaining the competitive edge, ruling around the globe and
registering the great value of market share by spreading the awareness
connected to the applications and advantages of pharmacy retail services,
delivering the better customer satisfaction, implementing the policies of profit
making and strategies of expansion, increasing the features and benefits of
such, decreasing the associated prices of such, improving the qualitative and
quantitative measures of such, and analysing the strategies and policies of
government.
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Competitive Landscape
The
industry is extremely competitive with 35+ organized chain brands exist across
almost every region in Malaysia. The market is ascetically concentrated with
the topmost 5 players namely Watsons, Guardian, Caring, Healthlane & Alpro
Pharmacy. However, in terms of Pure Pharmacy medication sales Caring Pharmacy,
Alpro Pharmacy, Multicare & Big Pharmacy registered the market. The
market players in the industry contend on the basis of parameters such as
Number of Pharmacy Stores, Geographical Presence, Brand Recognition and
Partnerships with Telemedicine & E-Prescription Providers, product
portfolio, online deliveries & several other Value Added Services.
Malaysia Patented Drug Market Future
Outlook
The
customer footfall at pharmacy retail outlets decreased under Movement Control Order
by Malaysian Government amidst the Covid-19 pandemic will observe growth by the
end of 2025. The increasing demand from the consumers along with the online
platforms to place order will propel the growth in the industry. The effective
growth in per capita health expenditure, number of NCD patients along with ease
in obtainability of medicines and future acquisitions & partnerships in
terms of enlargement & service addition in the portfolio will foster the
pharmacy retail industry during the future in Malaysia.
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