Australia Pharmacy Retail Market Outlook to 2025- Led by Growth in Increasing Number of Customer Footfall and Organic Expansion of Pharmacies

The report titled “Australia Pharmacy Retail Market Outlook to 2025- Led by Growth in Increasing Number of Customer Footfall and Organic Expansion of Pharmacies" provides a comprehensive analysis of Pharmacy Retail Services in Australia. The report covers various aspects including market size (Total Revenue and Number of Pharmacy Stores), Market Segmentations, Healthcare Landscape, Health Insurance, Trends & Developments, Pharmacies Geographical Landscape, Issues and Challenges, Government Regulations, COVID Impact, Online Pharmacy Market, Pharmacy Information System Software Landscape in Australia and Competition Landscape of Major Players.

The Australian pharmacy retail market report concludes with projections for the future of the industry including forecasted revenue by 2025, market segmentation, and analysts’ take on the future.

Australia Pharmacy Retail Market Overview and Size

The pharmacy Retail Market in Australia has witnessed a moderate rise over the review period 2015-20. Growth in the Number of Pharmacists, Proportion of Ageing Population Proportion, Increasing Number of Healthcare Problems, per capita healthcare expenditure, a number of insured patients, the PBS Scheme, etc. have augmented the growth in the Australian Pharmacy Retail Market. New South Wales, Victoria and Queensland are the regions with a maximum number of customer footfall and average basket size. The growth in the market was further supported by Pharmacies expansion in terms of the Number of Stores, services and home deliveries of medications to the patients in the country.

COVID-19 Pandemic on the other hand impacted the customer footfall and average basket size of customers for the initial few months of the pandemic. However, as the restrictions were reduced the situation also got back to normal.

Australia Pharmacy Retail Market Segmentations

By Market Structure: In terms of the Number of Pharmacy Stores and Revenue, Pharmacy Chains captured the majority of the share in 2020. Pharmacy chains provide multiple value-added services along with Click and Collect and Home Delivery option. Independent Stores on the other hand focuses on providing Patented and Generic Drugs as it is preferred by Australians largely for such categories.

By Type of Pharmacy: Community Pharmacy dominates the market in terms of Number of Stores, followed by discount pharmacies in the country in 2020. Prescribed, OTC, and Non-Pharma Products were the major categories being demanded at community Pharmacies.

By Type of Products: Prescribed Drugs dominate the market in Australia in 2020, followed by Over Counter medicines. High growth was recorded in the OTC segment as a result of the COVID-19 Pandemic wherein major medicines are taken were for Analgesics, Cough & Cold Digestive Care, etc.

By Therapeutic Area: Cardiovascular dominated the market in terms of revenue in the country as Australian adults aged 18 years and over had 1 or more conditions related to the heart or vascular disease in 2020. It is followed by Anti Infectives, Central Nervous System, Vitamins Minerals & Nutrients, and Pain/Analgesics.

By Drug Type: Generic Drugs dominated the market in terms of revenue largely due to their affordability and availability to the customers in their nearby stores. Patented drugs on the other hand were largely taken by the Patients with severe diseases taking medicine through Prescriptions.

Type of Regions: New South Wales and Victoria accounted for more than 50% share in terms of revenue and Number of Stores in 2020. The region dominated as a result of a major number of locations in these regions, a higher number of Pharmacists, and also because of the High population in the region.

Competitive Landscape of Australia Pharmacy Retail Market:

The competition in the Pharmacy Retail Market in Australia is moderately concentrated with the presence of more than 2-3 Major community Pharmacies in 2020. Major Pharmacies in Australia include Chemist Warehouse, Priceline Pharmacy, TerryWhite Chemmart, Amcal, Discount Drug Store, Healthsave Pharmacy, Advantage Pharmacy, Guardian, Direct Chemist Outlet, and few others. Players in the industry compete on the basis of parameters such as Number of Customers in a day, Average Basket Size, Number of Products Offered, Type of Services, Geographical Locations, Number of Stores, Online Presence, Home Delivery, Value Added Services, etc.

Online Pharmacy Market in Australia

Online Pharmacy Market in Australia is growing over the years. The market witnessed a comparatively higher surge in terms of Revenue in 2020 as more individuals shopped online rather than visiting an offline store. Online Pharmacy Revenue is anticipated to grow with a CAGR of around 4% during the forecast period 2020-2025.

Australia Pharmacy Retail Market Future Outlook and Projections

Australian Pharmacy Retail Market in terms of Total Revenue is expected to grow at a CAGR of 5.1% over the period 2020 to 2025. The market in future is anticipated to grow as a result of growth in the number of Pharmacy Stores, growth in customer footfall, Proportion of elderly population and awareness of services among different customer cohorts. In addition to that Growth in Healthcare Expenditure along with multiple strategies implemented by Pharmacies such as the opening of the store 24/7 will complement the Revenue Growth in the industry. Market in terms of Number of Pharmacy Stores and Revenue will witness a single-digit growth rate in future.

Key Segments Covered

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

• Organized

              Prescribed Drugs

              Over-The-Counter

              Non-Pharmaceutical Products

              Medical Equipment

• Unorganized

              Prescribed Drugs

              Over-The-Counter

              Non-Pharmaceutical Products

              Medical Equipment

By Product Sales (Revenue in AUD Mn)

• Prescribed Drugs
• Over-The-Counter
• Non-Pharmaceutical Products
• Medical Equipment

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