Consolidation of Pharmacy Chains into Banner Groups along with Growing Partnerships of Tele-heath Platforms with Pharmacies in the country has stimulated the Growth in Pharmacy Retail Market in Australia: Ken Research

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Growing Ageing Population in Australia: Elderly Population which is 65 Years or more made up a significant proportion of Australia’s population in 2017, i.e. over 1 in 7 people were aged 65 and over. More than half of the population visiting a Pharmacy store belongs to this elderly age group. In the past 20 years, the proportion of the population aged 65 years and over increased from 12.3% in 1999 to 15.9% in 2019 in Australia. The growth in population proportion further increased health consciousness & the number of prescriptions as well as a steady demand for health and wellness products in Pharmacies in Australia.

Prevalence of Diseases in Australians: The prevalence of one or more chronic conditions in Australians increased from around 42% in 2008 to approximately 50% in 2020. Females aged 15 years and more were more likely to have these chronic diseases than males i.e. 57% compared to 51% in 2020. Major Chronic Conditions recorded in Australia 2020 were mental conditions, Back problems, Arthritis, Asthma Diabetes mellitus, Heart, stroke & other cardiovascular diseases. Australia recorded the maximum number of medicines dispensed for these therapeutic areas, especially for Cardiovascular Diseases.

Health Insurance in Australians: Health Insurance in Australia has benefited from rising premiums over the last five years wherein anticipated revenue growth is around 1% during 2020-21. Total insured patients reach 13.6 Million in June 2020. Major Private Health insurers delayed scheduled annual premium increases for six months as a result of the pandemic & other private health insurers resumed annual premium increase from October 2020. Despite the lowest increase in two decades, health insurance premiums are still growing quicker than wages or inflation, raising concerns about affordability. Amidst the pandemic, Telehealth was introduced as a part of the insurance coverage by some Private Health Insurance Providers such as Bupa and Medibank.

Impact of COVID-19 on Australia Pharmacy Retail Market: COVID19 has severely impacted all the industries across the Globe. The Pharmacy Guild of Australia and the Pharmaceutical Society of Australia, in consultation with the Department of Health, ensured equitable access to medicines for all Australians by limiting dispensing and sales of prescription and over-the-counter medicines. A decline of 30%-40% was recorded in terms of customer footfall in the country during the lockdown. However, demand for Non-Pharmaceutical products such as Sanitizers, Personal Care Medications, Masks, and other essential items saw a surge in the demand as a result of safety measures and panic buying among customers in Australia.

Analysts at Ken Research in their latest publication Australia Pharmacy Retail Market Outlook to 2025- Led by Growth in Increasing Number of Customer Footfall and Organic Expansion of Pharmacies observed that the Pharmacy Retail Market in Australia has been growing over the years as a result of rising Number of Services Offered, Per capita Health Expenditure, Health Budget of the country, Growth in Online Pharmacies & Tele consultations, More number of Stores and option of Home Delivery of medications. Australian Pharmacy Retail Market is anticipated to grow with a CAGR of 5.1% on the Basis of Total Revenue over the forecast period 2020-2025.

Australian Pharmacy Retail Market in terms of Number of Stores is expected to grow with a CAGR of 1.5% in the forecast period 2020-2025. The Online Pharmacy Retail Market in terms of Revenue is anticipated to grow with a CAGR of 3.9% in the forecast period 2020-2025.

Key Segments Covered: –

By Market Structure (Number of Pharmacy Outlets & Revenue in AUD Mn.)

Organized

Prescribed Drugs

Over-The-Counter

Non-Pharmaceutical Products

Medical Equipments

Unorganized

Prescribed Drugs

Over-The-Counter

Non Pharmaceutical Products

Medical Equipments

By Product Sales (Revenue in AUD Mn)

Prescribed Drugs

Over-The-Counter

Non Pharmaceutical Products

Medical Equipments

By Type of Pharmacies (Number of Pharmacy Outlets)

Community Pharmacies

Discount Pharmacies

Hospital Pharmacies

By Drug Type (Revenue in AUD Mn)

Patented Drugs

Generics

By Region

New South Wales

Victoria

Queensland

Western Australia

South Australia

Tasmania

Others

By Therapeutic Areas

Anti-Infective

Cardiovascular

Central Nervous System

Pain/Analgesics

Vitamins/Minerals/Nutrients

Antibiotics

Respiratory

Gastro Intestinal

Gynaecology

Others

Australia Pharmacy Market Companies Covered

Priceline Pharmacy

Terrywhite Chemmart

Chemist Warehouse

Advantage Pharmacy

Amcal Pharmacy

Discount Drug Stores

My Chemist

Guardian Pharmacy

Direct Chemist Outlet

Healthsave Pharmacy

Blooms the Chemist

Pharmacy4less

Pharmacy777

Pharmasave

Star Pharmacy

Capital Chemist

Pharmacist Advice

Soul Pattinson Chemist

Good Price Pharmacy

Ramsay Pharmacy

National Pharmacies

Cincotta Discount Chemist

Wizard Pharmacy

Wholelife Pharmacy

Chemist King

Pharmacy Information System (PIS) Software Companies

FRED ID

Minfos

RxOne

Posworks

Mountaintop Solutions

Simple Retail

Corum Health

Zsoftware

Key Target Audience

Pharmaceutical Manufacturing Companies

Pharmacy Retail Companies

Independent Pharmacies

Industry Associations

Regulatory Bodies

Telemedicine Companies

Pharmaceutical Distributors & Wholesalers

Time Period Captured in the Report:-

Historical Period: 2015-2020

Forecast Period: 2021-2025

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: –

Australia Pharmacy Retail Market Analysis

Related Reports by Ken Research: –

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
Ankur@kenresearch.com
+91-9015378249

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