Australia Pharmacy Retail Market Overview:
Australia 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.
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By
Therapeutic Class: Cardiovascular and Anti-Infectives 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.
Australia
Pharmacy Retail 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
OTC 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 & have 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
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: –
Top
Retail pharmacy Companies in Australia
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