Philippines Pharmacy Retail Market is anticipated to grow by USD 6Th Mn by 2025- How will the market gain traction to be able to reach at its targeted number?

The government distribution of medicines will improve in future due to the initiatives such as Botika Ng Bayan, Distribution through Local Health Units and Rural Health Units, says a report by Ken Research

1.Corona Virus effect on pharmacy sales in Philippines Pharmacy Retail Market.

Other Challenges in Philippines Pharmacy Retail Market Outlook to 2025

Demand for OTC products like Alcohol Based Cleaners, Vitamin C and D Tablets, Immunity Boosters and Health Supplements was boosted during quarantine. Maintenance Medicines were also in high demand. During the starting of the Quarantine, Pharmacies witnessed increase in sales due to bulk purchase, later the sales declined. Pharmacies faced supply chain issues especially in the ECQ zones. This has affected the sales of the pharmacies. Further, Philippines witnessed lockdown for a long duration.

2.Trends and Development that the Pharmacy retail market of Philippines will experience.

Interested to Know More about this Report- Request for a sample report

In July 2018, DOH relaunched Botika Ng Bayan initiative to provide free essential medicines for common diseases focusing on rural and poor people. The chain stores have increased tremendously in the Philippines. Especially TGP and Generika as they have adopted franchise model for store expansion. This increase in chained pharmacies has led to the growth of house brands or private labels. In starting of 2019, President Rodrigo signed Universal Health Care (UHC) Bill into law (Republic Act No. 11223) which automatically enrolls all Filipino citizens in the National Health Insurance Program. This will increase the healthcare affordability in the region.

3. Assessing the Possibilities in the Philippines Pharmacy Retail Market

 

Visit this Link :- Request for custom report

• Penetration of internet, growth of social media has opened more connectivity options for the companies.
• Drive Through Stores, self-service stores are increasing customer convenience.
• This has helped in increasing the footfall in pharmacies for purchasing non pharmaceutical products.
• Chain stores can serve regional customers where they don’t have strong presence.

Contact us:
Ankur Gupta, Head of Marketing and Communications
support@kenresearch.com
+91-9015378249

Follow Us

Facebook | Twitter | LinkedIn | Instagram

Tags: Aventus Medical Care Revenue, Central Retail Pharmaceutical Market Philippines, Emerging Retail Drug Market Philippines, Farmacia Ni Dok Market Share, Generic Drug Sector Philippines, Generika Drugstores Market Revenue, Health Clinic Market Revenue, Hospital Based Pharmacy Industry Philippines, Konsulata MD Customer Base, Leading Retail Pharmaceutical Partners Philippines, Major Retail Healthcare Philippines, Mercury Drug Corporation Market Share, Non-Pharmaceutical Products Industry Philippines, North Retail Healthcare Market Philippines, Number of Diagnostic Labs Philippines, Number of Hospital Beds Philippines, Number of Imported Medical Device Philippines, Number of Intravenous Device Philippines, Number of Local Medical Device Philippines, Number of Respiratory Devices Philippines, Number of Test Centers Philippines, Organized Pharmacy Retail Market Philippines, OTC Products Industry Philippines, Philippines Pharmacy Retail Industry, Philippines Pharmacy Retail Market Opportunities, Philippines Retail Drug Market Report, Philippines Retail Drug Market Trends, Philippines Retail Healthcare Market, Philippines Retail Medical Industry, Philippines Retail Pharmaceutical Sector, Philippines Retail Wellness Industry Challenges, Philippines Retail Wellness Market, Philippines Retail Wellness Space Market Investment, Philippines Retail Wellness Start-Up Funds Raised, Prescribed Medicines Market Philippines, Rose Pharmacy Customer Base, South Star Drugs Inc Market Revenue, St Joseph Drugstores Profits, Standalone Retail Drug Market Philippines, TGP Pharmacy Market Position, Top 5 Funded Alternate Pharmacy Retail Companies Philippines, Top Captive Players Philippines Retail Medical Sector, Unorganized Pharmacy Retail Market Philippines, Watsons Personal Care Stores Philippines Profits