Australia Pharmacy Retail Market Growth, Demand, Business Opportunities, Size, share Industry Trends, Analysis and Forecast till 2025: Ken Research



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.

Request for Free Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NDQ0MzEy

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

Related Reports

Indonesia Pharmacy Retail Market Outlook to 2025 By Market Structure (Organized & Unorganized); By Region (West Java , East Java , Central Java , Jakarta , North Sumatra & Others); By Product Categories (Prescribed, OTC, Non-Pharmaceutical Products & Medical Equipment); By Therapeutic Areas; and By Product Type (Patented & Generic Drugs)

Thailand Pharmacy Retail Market Outlook to 2025 – By Market Structure (Organized & Unorganized Segment); By Region / Cities (Bangkok & its Vicinity, Central, South, Northeast, North, Eastern & West); By Product Categories (Prescribed, OTC, Non-Pharmaceutical Products and Medical Equipment); By Therapeutic Areas; and By Product Type (Patented & Generic Drugs)

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

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249



Next Post

मैनपुरी उपचुनाव: भाजपा के एजेंट के रूप में कार्य कर रहे हैं अधिकारी – अखिलेश यादव

समाजवादी पार्टी के राष्ट्रीय अध्यक्ष अखिलेश यादव के पिता सपा संरक्षक मुलायम सिंह यादव के निधन के बाद से खाली...

Read more