Increasing Number of Chain Pharmacy Stores and Rising Demand for Generic Medicines has fueled Growth in 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 Malls will remain Closed in the Enhanced Community Quarantine: Philippines government has enforced some of the hardest lockdown regulation which was extended for the duration of more than four months in major parts of the country. This lockdown was in three stages: Enhanced Community Quarantine (ECQ), Modified Community Quarantine (MCQ) and General Community Quarantine (GCQ). During the ECQ period, malls were closed due to which pharmacies operating in the mall were shut down. Pharmacies are Hoarding Vitamins due to High Spike in Demand: Philippines Pharmacies and Consumers started hoarding popular vitamins including Multivitamins, Vitamin D, Vitamin C, and others after the implementation of lockdown in the Luzon islands. The sales went up approximately 10 times higher than the March month, which created a situation of “Artificial Shortage”. The consumers who usually used to purchase medicines for a week’s requirement started stocking medicines for 2 months of usage. Impact of COVID 19 on the Philippines Pharmacy Retail Market: The Pharmacy Retail Industry was highly impacted due to the COVID 19. Pharmacies present in the malls had to stop their operations due to the lockdown regulations. Many pharmacies reduced their operational timings. Pharmacies witnessed high demand for OTC products, especially for Vitamin Supplements. The delivery lead time for Online Pharmacies had increased drastically due to the lockdown regulations. Government implementing Regulation for accepting E-Prescription: In order to encourage people to stay at home, the government of the Philippines implemented regulations for Telemedicine and E-Prescriptions. Further, it made compulsory for all pharmacies to accept E-Prescription as a valid legal document for dispensing medicines. The DOH also started providing telemedicine services in partnership with several private organizations and started providing E-Prescription. Analyst at Ken Research in their latest publication “Philippines Pharmacy Retail Market Outlook to 2025 – By Market Structure (Organized and Unorganized), By Location (Standalone and Hospital Based), By Region (North, Central, and South), By Product Sales (Prescribed Medicines, OTC Products, Non-Pharma Products, and Medical Equipments), By Drug Type (Generic And Patented) and By Therapeutic Class” observed that the Philippines is a growing market for pharmaceutical products. The market has the presence of a high number of unorganized pharmacy stores. The chain pharmacies are acquiring regional pharmacies and independent pharmacies for fast expansion. Many chains are also adopting now franchise model for store expansion. Increasing demand for maintenance medicines and increased health awareness due to the COVID Outbreak will continue the growth in the market. The market demand will increase for generic medicines due to the low prices. The Philippines Pharmacy Retail Market is expected to grow at a CAGR of 3.0% on the basis of the revenue generated during the forecast period of 2019-2025. 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 Behavior & 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 Link: – 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 Ankur@kenresearch.com +91-9015378249 Tags: Corona Virus Impact Philippines Pharmacy Retail Market, COVID 19 Impact on Philippines Pharmacy Market, Generika Drugstore Company Profile, 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