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.
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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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.
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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Ankur Gupta, Head Marketing & Communications