Philippines Pharmacy Retail Market Research Report to 2023: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Current Potential of the Philippines Pharmacy Retail Market? The market is currently at the growth stage and the revenues generated by the Pharmacy Retail in the Philippines was evaluated at PHP ~ billion during 2018, inclining from PHP ~ billion in 2013. The organized pharmacy chains are playing an important role in the development of pharmaceuticals market by introducing new store formats and customer friendly services. These stores are providing various other services such as medical consultation, counseling, health check-ups and others in addition to the product offerings. The chains are present in most of the regions in the Philippines prominently in the Manila, Luzon, Visayas and Mindanao region. The demand is facilitated on the basis of prescription medicines as the customers prefer to purchase medicines prescribed by the doctor. Demand for OTC products is growing in the country as the medical awareness and health knowledge is increasing among the consumers. The pharmacy stores stock a wide range of non pharmaceutical products which includes personal care products, daily living needs and FMCG products. These companies are partnering with the pharmacy chains as the chains have developed a good distribution network in the different regions of the Philippines, which the supermarkets and hypermarkets currently lack. The industry registered a CAGR of ~% for the period 2013-2018. It is estimated that the market will grow at a CAGR of ~% in the period 2018-2023. Philippines Pharmacy Retail Market Segmentation By Type of Market Structure (Organized and Unorganized Market: Philippines pharmacy retail market was dominated by the organized segment as these chains have established a good relation with the customers on the basis of the store convenience and different customer loyalty schemes. On the other hand, unorganized segment is mostly prevalent in the countryside and rural areas where the organized chains are not present. By Type of Store Location (Standalone and Hospital Based Stores): The standalone stores are able to generate greater revenue than the hospital based stores as most of the patients prefer to purchase from the standalone stores due to their cost efficiency. In addition to that, standalone stores maintain a wide range of non pharmaceutical products which increases the store footfall. By Region: (North, Central and South): Northern region constitutes National Capital Region and Central Luzon. Pharma sales are most in the North as the NCR region over there has the most per capita GDP in the country during. The remaining market share was collectively captured by central and south region. By Type of Drug (Generic and Patented): The generics category consists of a number of sub-segments existing at different pricing tiers including branded generics, Uni-branded generics, house-brands and unbranded generics. Traditionally, the market consisted of branded and unbranded generics but big local companies have launched Uni-brands such as Pharex and RiteMed at a discounted price lower than the branded generics, therefore have experienced high growth. The remaining market was captured by patented segment. By Type of Sales (Prescribed Medicines, Over the Counter Products, Non Pharma Products and Medical Equipment): Sales towards prescribed medicines were observed to dominate Philippines pharmacy retail market during the year 2018. The demand is majorly facilitated by the sales happening in the hospital based stores and standalone stores near a hospital. This was followed by the OTC products, Non Pharmaceutical Products and medical equipment. By Therapeutic Class: The Philippines pharmacy market has different group of therapeutic drug classes such as anti-infective, cardiovascular, gastro intestinal, anti diabetic, vitamins, minerals and nutrients, respiratory, pain analgesics, dermatology, neuro, gynecological and others. The market has most demand for the cardiovascular drugs due to high rate of Coronary Heart Diseases (CHD) in the country. WHAT IS THE COMPETITION SCENARIO in the Philippines pharmacy retail market? Competition stage within Philippines pharmacy retail market was observed as highly concentrated along with the presence of major pharmacy retail chains and independent stores in the country. The top five major pharmacy chains present in the market are Mercury Drug Corporation, Watsons Personal Care Stores, SouthStar Drug Inc, Rose Pharmacy and The Generics Pharmacy. The competition is driven by the number of stores, product offerings, range of product categories, services, customer loyalty scheme, private label goods and marketing & promotion. Majority of the unorganzied players lack the resources in comparision to the organized players and therefore aren’t able to compete with them. The major competition parameters for the different players are: Type of Medicines offered Pricing of the Medicines Location and Number of Stores Different Type of Product Offerings In Store Experience and Customer Loyalty Schemes Value Added Services The promotion techniques used and others The majority of the organized pharmacy chains have limited their presence to the developed regions and are available in the major regions and provinces. They need to increase their store presence in the semi-urban and rural areas in order to increase their market penetration in those regions. The adoption of franchise model by some chains is good for this as those chains are expanding rapidly in the region and have been able to establish their presence in the market over a short period of time. WHAT is the FUTURE Outlook for the Philippines pharmacy retail market? Over the forecast period, the Philippines pharmacy retail market is expected to register a positive CAGR in terms of revenue during the forecast period 2019-2023, driven on the expected growth in the total number of organized stores in the country. The organized chains are expected to include the online sales channel in their distribution system and adopt the omni sales channel strategy. As the medicine market is being dominated by the demand for generic medicines, total number of drugstores providing generic medicines are expected to increase in the near future. The government of Philippines has revived the Botika Ng Bayan initiative which used to provide the medicines in the Philippines at subsidized rates. The government of Philippines aims to expand it to each of the barangay (village) in the Philippines and provide generic medicines in order to reduce the healthcare costs. Key Segments Covered Market Structure Organized Market Unorganized Market Type of Store Location Standalone Pharmacy Hospital Based Pharmacy Region North Central South Type of Sales Prescribed Medicines OTC Products Non Pharmaceutical Products Medical Equipment By Type of Drug Generic Patented By Therapeutic Class Anti-Infectives Cardiovascular Gastro Intestinal Anti Diabetic Vitamins/Minerals /Nutrients Respiratory Pain/Analgesics Dermatology Neuro Gynecological Others Key Target Audience Existing Pharmaceutical Retailers in the Philippines Existing Pharmaceutical Distributors in the Philippines Existing Pharmaceutical Wholesalers in the Philippines Existing Pharmaceutical Manufacturers in the Philippines Existing Pharmaceutical Importer in the Philippines New Market Entrants- Domestic Retailer New Market Entrants- Domestic Distributor New Market Entrants- Domestic Wholesaler New Market Entrants- Domestic Manufacturer New Market Entrants- Foreign Retailer New Market Entrants- Foreign Distributor New Market Entrants- Foreign Wholesaler New Market Entrants- Foreign Manufacturer Market Associations Investors & Venture Capital Firms Real Estate Companies Government Bodies Time Period Captured in the Report: Historical Period: 2013-2018 Forecast Period: 2019-2023 Companies Covered: Mercury Drug Corporation Watsons Personal Care Stores SouthStar Drug Inc. Rose Pharmacy The Generics Pharmacy Key Topics Covered in the Reports Executive Summary Research Methodology Philippines Pharmacy Retail Market Introduction, Overview and Genesis Value Chain of Philippines Pharmacy Retail Market Philippines Pharmacy Retail Market Size, 2013-2018 Philippines Pharmacy Retail Market Segmentation, 2013-2018 Business Model for a Retail Pharmacy Store in the Philippines Pre-Requisites for the Philippines Pharmacy Retail Market Regulatory Framework in the Philippines Pharmacy Retail Market Growth Drivers in the Philippines Pharmacy Retail Market Trends in the Philippines Pharmacy Retail Market Issues and Challenges in the Philippines Pharmacy Retail Market Import Scenario in the Philippines Pharmacy Retail Market SWOT Analysis of the Philippines Pharmacy Retail Market Cross Comparison of International Pharmacy Stores with the Philippines Organized Pharmacy Retail Market Porter Five Forces Analysis for the Philippines Pharmacy Retail Market Comparative Landscape in the Philippines Pharmacy Retail Market Snapshot of Major Players Using Omni Channel Model in the Philippines Pharmacy Retail Market Snapshot of Emerging Hybrid Model in the Philippines Pharmacy Retail Market Philippines Pharmacy Retail Market Future Outlook and Projections, 2019-2023 Analyst Recommendations for the Philippines Pharmacy Retail Market For More Information on the Research Report, refer to below links: – Philippines Pharmacy Retail Market Outlook 2023 Related Reports by Ken Research Germany Retail Pharmacy Market Outlook to 2023 – By Type of Pharmaceuticals (Prescription Only, Pharmacy-Only, Supplementary Products and Unrestricted OTC pharmaceuticals); By Number of Main and Franchise Pharmacies; and By Federal States; By Online Sales Kuwait Retail Pharmacy Market Outlook to 2022 – By Type of Pharmacy (Pharmacy Chains, Independent Pharmacies and Hospital/Clinic Based Pharmacies); By Type of Drugs (Cosmetics, Food Supplements and Drugs), By Type of Sales Channels (Offline and Online) India Online and Offline Pharmacy Retail Market Outlook to 2025 – By Organized and Unorganized; By Standalone and Hospital based Pharmacy; By Product Category (Prescribed Drugs, OTC Drugs and Non-Pharmaceutical Goods) and Therapeutic Class Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications support@kenresearch.com +91-9015378249 Tags: ASEAN Pharmacy Industry, ASEAN Pharmacy Retail Market, ASEAN Pharmacy Retail Revenue, ASEAN Retail Businesses Philippines, Branded Drug Market in the Philippines Philippines Pharmacy Retail Market, Future of Philippines Online Pharmacy Retail Market, Future of Philippines Pharmacy Retail Market, Generic Drug Market in the Philippines, Global Pharmacy Retail Market, Government Expenditure in Healthcare in Philippines, Growth of Hospital Based Pharmacy in Philippines, Industriya ng Pharmacy ng Pilipinas, M-Pharmacy Market in Philippines, Major Companies in Philippines Pharmacy Retail, Market Competition in Philippines Pharmacy Retail Market, Mercury Drug Corporation Market Share, Patented Drug Market in the Philippines, Pharmacy Retail Businesses Philippines, Pharmacy Retail in developing countries, Pharmacy Retail Market, Pharmacy Retail Market in Philippines, Pharmacy Retail Market sa Pilipinas, Philippines Generic Drug Market, Philippines Hospital based Pharmacy Market, Philippines Medicine Retail Market, Philippines Online Pharmacy Retail Market, Philippines OTC drug Market, Philippines OTC Drugs Market, Philippines Patented Drug Market, Philippines Pharmacy Industry, Philippines Pharmacy Retail Industry Research Report, Philippines Pharmacy Retail Market, Philippines Pharmacy Retail Market Future Outlook, Philippines Pharmacy Retail Market Research Report, Philippines Pharmacy Retail Revenue, Philippines Pharmacy Retailer, Philippines Prescribed drug Market, Philippines Standalone Pharmacy Future, Philippines Standalone Pharmacy Retail Market, Ulat ng Pananaliksik sa Industriya ng Pharmacy ng Pilipinas, Ulat sa Pananaliksik sa Market Market sa Pharmacy ng Pilipinas