In-Depth Analysis Of The Covid-19 Impact On The Philippines Pharmacy Retail Market: 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 The global outbreak of Covid-19 virus has led to massive disruptions in all industries, especially the healthcare sector, testing the healthcare facilities of all the countries and caused major changes in the perception of health and fitness. The looming public health crisis has claimed over 660 thousand lives globally as of 28th July 2020 and apart from that, it continues to pose a threat to the lives, livelihoods, and businesses across the world. The Philippines is in the top 30th worst Covid-19 hit countries in the world, with more than 83,000 cases as of 28th July 2020. The Philippines implemented one of the strictest and longest lockdown durations globally. On 16th March 2020, the Luzon Islands group was put on Absolute lockdown, and on 17th the state of calamity was declared nationwide. This lockdown was extended till June and after that different parts of the country were put under different regulations of lockdown depending on the number of cases on a regional level. Philippines logged a GDP growth rate of -0.2% in the first quarter of 2020; this has happened for the first time in 22 years since 1988 that the Philippine economy has contracted. Tourism and Transportation were the worst affected sectors, only the services sector provided growth in the quarter. On the demand side, investments declined in the construction, durable production, and other sectors and private consumption were stagnant during the period. Change in Consumer Attitude towards Health and Fitness: The Corona Virus Outbreak has forced the people to realize the importance of adopting health and fitness related activities in their daily lives. The people are making changes in their lifestyle and are becoming more accommodative to include different health beneficial activities. As per a survey, ~48% of people said that they will start exercising. more frequently, ~80% said they have started consuming some Vitamins or Health Supplement Products, ~80% of people have started consuming nutritional food and drinking supplement, 88% started washing their hands more frequently and ~65% of people started using some Germ Preventive Product. Government Making Regulation for Telemedicine and E-Prescriptions: In order to discourage people from going outside and reducing their visits to hospitals, the government of the Philippines has laid down regulations for usage of Telemedicine. It also made E-prescription a valid document and laid down regulations on how a patient can use these services for attaining medicines. The Department of Health is also partnering with different private entities in order to provide telemedicine services. Corona Virus Impact on Pharmacy Operations: Pharmacies had to alter their operations in order to accommodate the new regulations being imposed in the country. No new major pharmacies started their operations due to lockdown. Majority of the pharmacies depending on the region had reduced their operational timings by 2-3 hours. Pharmacies which are located in malls had closed their stores in the Enhanced Community Quarantine (ECQ) area. The chain pharmacies had to update or implement new SOPs in order to accept E-Prescriptions. The lead time of delivery also increased significantly for online pharmacies. The pharmacies also witnessed supply chain issues due to the lockdown regulations. Also, in the past, the DOH had proactively cracked the operations of Ghost Pharmacies. The DOH is currently keeping a close tap on the operation of pharmacies in order to ensure that proper guidelines are being followed and no malpractices are happening in the industry. Corona Virus Impact on Pharmacy Sales The industry is expected to witness steady recovery from mid-2021 onwards and the sales volume reaching pre-COVID levels in the next few years. In the longer run, lubricant manufacturers are expected to shift towards online sales channels including e-commerce platforms, online marketplaces, and investing in an official online store, particularly for automotive lubricants, which accounts for the majority of the lubricants sales volume in the country. As a result of the Covid-19 pandemic, online buying is expected to dominate the buying preferences of consumers in the future. The market is having a high demand for generic medicines due to which new stores are focusing on generic medicine sales. Further, established chains such as TGP, Generika, Gamot Publiko have adopted the franchise model for store expansion. DOH has currently limited the option of online pharmacy to the pharmacies having physical stores, with the growth of telemedicine segment; we can expect some amendments in this rule which can help in easing the current situation of online pharmacy delivery. It is expected that the market will witness a CAGR of ~3.0% on the basis of revenue during 2019-2025F. Key Segments Covered: – By Market Structure (In USD Billion) Organized Market Unorganized Market Type of Store Location (In USD Billion) Standalone Pharmacy Hospital Based Pharmacy By Region (In USD Billion) North Central South By Type of Sales (In USD Billion) Prescribed Medicines OTC Products Non-Pharmaceutical Products Medical Equipment By Type of Drug (In USD Billion) Generic Patented By Therapeutic Class (In USD Million) Cardiovascular Anti-Infectives Pain/Analgesics Anti-Diabetic Vitamins/Minerals /Nutrients Dermatology Respiratory Gastro Intestinal Neuro Oncology Contraceptive Gynecological Ophthalmological Others Companies Covered Mercury Drug Corporation Watsons Personal Care Stores SouthStar Drug Inc. The Generics Pharmacy Rose Pharmacy Generika Drugstores Several Regional Players & Others Key Target Audience Pharmaceutical Manufacturer Companies Pharmaceutical Importing Companies Pharmaceutical Distributing Companies Major Retail Companies E-Commerce Pharmaceutical Retailers Consultancy Companies Industry Associations Regulation Bodies Time Period Captured in the Report: Historical Period: 2014-2019 Forecast Period: 2020-2025 Key Topics Covered in the Report Healthcare System in the Philippines Major Hospitals & Doctors in the Women Healthcare Usage of Contraception & Family Planning in the Philippines Health Insurance in the Philippines Supply Structure of the Philippines Pharmacy Retail Market Trends & Development in the Philippines Pharmacy Retail Market Issues & Challenges in the Philippines Pharmacy Retail Market SWOT Analysis & BCG Matrix in the Philippines Pharmacy Retail Market Philippines Pharmacy Retail Market Size & Segmentation, 2014-2019 Online Pharmacy Regulations in the Philippines Telemedicine & Growth of Online Medical Consultation in the Philippines Major Telemedicine Providers in the Philippines Operating Model of Hybrid Pharmacies Competition Scenario, Market Share, Cross Comparison of Major Players (Online & Offline) and Company Profile Assessing Regional Pharmacies in the Philippines Corona Virus Impact on the Consumer Behaviour & Pharmacy Sales Future Market Size and Segmentations, 2019-2025F Covid 19 Impact on the Philippines Pharmacy Retail Market Analysts’ Recommendations For More Information on the Research Report, refer to below links: – Philippines Pharmacy Retail Market Related Reports by Ken Research India E-Pharmacy Competition Benchmarking Report – A detailed analysis of major E-Pharmacy players in India 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 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 Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications support@kenresearch.com +91-9015378249 Follow Us LinkedIn | Instagram | Facebook | Twitter | YouTube Tags: Corona Virus Impact Philippines Pharmacy Retail Market, COVID 19 Impact on Philippines Pharmacy Market, Generika Drugstores Pharmacy Retail Market Size, Health Insurance Growth in the Philippines, Healthcare System in the Philippines, Luzon Pharmacy Retail Market, Major Pharmacies in Philippines, Major Telemedicine Companies in Philippines, Major Telemedicine Providers in the Philippines, Medical Equipment Market Growth in Philiipines, Mercury Drug Pharmacy Retail Market Revenue, Mindanao Pharmacy Retail Market, Pharmacy Retail Industry Philippines, Pharmacy Retail Market Philippines, Philippines Branded Generics Market, Philippines Chain Drugstores Market, Philippines Drugstore Market, Philippines Generic Drug Market, Philippines Hospital Drugstores, Philippines Independent Pharmacies Market, Philippines Internet Medicine Market, Philippines Major Medicine Sellers, Philippines Major Regional Pharmacies, Philippines Medicine Retail Market, Philippines Medicine Sellers Market, Philippines Online Pharmacy Retail Market, Philippines Organized Pharmacy Retail Market, Philippines Patented Drug Market, Philippines Pharmacy Franchises, Philippines Pharmacy Retail Industry, Philippines Pharmacy Retail Industry Research Report, Philippines Pharmacy Retail Market, Philippines Pharmacy Retail Market Analysis, Philippines Pharmacy Retail Market Forecast, Philippines Pharmacy Retail Market Future Outlook, Philippines Pharmacy Retail Market Growth Rate, Philippines Pharmacy Retail Market Major Players, Philippines Pharmacy Retail Market Research Report, Philippines Pharmacy Retail Market Share, Philippines Pharmacy Retail Market Size, Philippines Standalone Pharmacies, Philippines Telemedicine Market, Prescribed Medicines Sales in Philippines, Rose Pharmacy Retail Market Outlook, SouthStar Drug Pharmacy Retail Market Report, The Generics Pharmacy Retail Market Analysis, Visayas Pharmacy Retail Market, Watsons Pharmacy Retail Market Sales Growth