Philippines Pharmacy Retail Market Outlook 2023
By Organized and Unorganized Segment, By Standalone and Hospital Based Pharmacies, By Region, By Generic and Patented Drug, By Prescribed Medicines, OTC Products, Non Pharmaceutical Products and Medical Equipments, by Therapeutic Class (Anti-Infective, Cardiovascular, Gastro Intestinal, Anti Diabetic, Vitamins, Minerals and Nutrients, Respiratory, Pain Analgesics, Dermatology, Neuro, Gynaecological and Others)
July 2019
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About the Report
About the Report
The report titled "Philippines Pharmacy Retail Market Outlook 2023 - By Organized and Unorganized Segment, By Standalone and Hospital Based Pharmacies, By Region, By Generic and Patented Drug, By Prescribed Medicines, OTC Products, Non Pharmaceutical Products and Medical Equipments, by Therapeutic Class (Anti-Infective, Cardiovascular, Gastro Intestinal, Anti Diabetic, Vitamins, Minerals and Nutrients, Respiratory, Pain Analgesics, Dermatology, Neuro, Gynaecological and Others)" provides a comprehensive analysis of the Philippines pharmacy retail market including market introduction, overview and genesis, market size and segmentations. Extensive focus has been placed in quantifying the industry revenue over the period, 2013-2023. The report covers aspects such as value chain, business and investment model, pre-requisites for a pharmacy, regulatory framework, growth drivers, major trends and developments, issues and challenges, import scenario in the industry, SWOT analysis, comparative analysis and competition landscape of the industry. The report also covers future industry analysis by segments. The report is useful for existing pharmacy chains, potential entrants, investors and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
Philippines Pharmacy Retail Market Overview and Size:
The Philippines pharmacy retail market is a booming industry backed by the growth in the organized retail chains and the demand for the generic medicines in the country. Medicines stores have been present in the Philippines market since the 20th century. There were different kind of stores such as Chinese drugstores and traditional medicine shops. Afterwards, organized pharmacy stores expanded their distribution network in the different regions. The organized chains are on a continuous expansion and were observed to generate the majority of the revenue for the industry. High costs of pharmaceutical products have led to growth in the demand for generic medicines. The government has also taken up initiatives for improving the medicine distribution system in the country and increase the reach of generic medicines to the different consumers. Philippines have the third highest market for the pharmaceutical products amongst the ASEAN countries. Online / mail order pharmacies also started to gain traction in the country.
Philippines Pharmacy Retail Market Segmentation
By 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.
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 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 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 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 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 cardiovascular drugs have highest demand due to high rate of Coronary Heart Diseases (CHD) in the country.
Comparative Landscape 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 on the basis of the number of stores, product offerings, the range of product categories, services, customer loyalty scheme, private label goods and marketing & promotion.
Philippines Pharmacy Retail Market Future Outlook and Projections:
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.
Products
Products
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) .
Companies
Mercury Drug Corporation,Watsons Personal Care Stores,SouthStar Drug Inc.,Rose Pharmacy,The Generics Pharmacy.
Table of Contents
Table of Contents
1. Executive Summary
2. Research Methodology
2.1. Market Definitions
2.2. Abbreviations
2.3. Consolidated Research Approach
2.4. Variables (Dependent and Independent)
2.5. Philippines Pharmacy Retail Market Correlation Matrix
2.6. Philippines Pharmacy Retail Market Regression Matrix
2.7. Limitations and Conclusion
3. Philippines Pharmacy Retail Market Introduction, Overview and Genesis (Timeline of Major Companies Operating in the Philippines Pharmacy Retail Market, Industry Cycle and Key Takeaways)
4. Value Chain of Philippines Pharmacy Retail Market (Entity Relationship, Flow Chart and Margin Analysis)
5. Philippines Pharmacy Retail Market Size, 2013-2018
6. Philippines Pharmacy Retail Market Segmentation, 2013-2018
6.1. By Market Structure (Organized and Unorganized Market), 2013-2018
6.2. By Type of Store Location (Standalone and Hospital Based Pharmacies), 2013-2018
6.3. By Region (North, Central and South), 2018
6.4. By Type of Drug (Generic and Patented Drug), 2018
6.5. By Type of Sales (Prescribed Medicines, OTC Products, Non-Pharmaceutical Products and Medical Equipments), 2018
6.6. By Therapeutic Class (Anti-Infective, Cardiovascular, Gastro Intestinal, Anti Diabetic, Vitamins, Minerals and Nutrients, Respiratory, Pain Analgesics, Dermatology, Neuro, Gynaecological and Others), 2018
7. Business Model for a Retail Pharmacy Store in the Philippines
7.1. Investment Model (Investment, Variable Cost, Retail Margins, Employees, Fixed Cost, General Assumptions and Profitability Measure)
7.2. Business Model Canvas (Key Partners, Key Activities, Key Resources, Channels, Value Propositions, Customer Relationship, Customer Segments, Cost Structure and Revenue Stream)
8. Pre-Requisites for the Philippines Pharmacy Retail Market (Location, Registered Pharmacist, Certifications, Requirements, Process, Document Arrangement & Software Requirements)
9. Regulatory Framework in the Philippines Pharmacy Retail Market (The Philippines Pharmacy Act 2016 and Major Legislations in the Philippines Healthcare 2002-2016)
10. Growth Drivers in the Philippines Pharmacy Retail Market
11. Trends in the Philippines Pharmacy Retail Market
12. Issues and Challenges in the Philippines Pharmacy Retail Market
13. Import Scenario in the Philippines Pharmacy Retail Market
14. SWOT Analysis of the Philippines Pharmacy Retail Market
15. Cross Comparison of International Pharmacy Stores with the Philippines Organized Pharmacy Retail Market (Market Size, Major Players, CAGR, Number of Stores, Major Online Players, Average Revenue per Pharmacy, Business Model, Minimum Sore Size, Customer Loyalty Schemes and Major Growth Drivers)
16. Porter Five Forces Analysis for the Philippines Pharmacy Retail Market
17. Comparative Landscape in the Philippines Pharmacy Retail Market (Competition Scenario, Market Share and Strengths and Weaknesses and Company Profiles of Major Players Operating in the Philippines Pharmacy Retail Market
17.1. Competition Scenario of Philippines Pharmacy Retail Market (Competition Stage, Major Players and Parameters on Basis of which Companies Compete in the Market)
17.2. Market Share (i.e. Strengths and Weaknesses) of Major Players Operating in the Philippines Pharmacy Retail Market
17.3. Company Profiles of Major Pharmacy Chains in the Philippines Pharmacy Retail Market (Company Overview, USP, Business Strategies, Recent developments, Key Facts, Store Layout, Number of Stores, Business Model, Stake holding Pattern, Key Personnel, Number of Employees, Market Share and Revenue)
17.3.1. Mercury Drug Corporation
17.3.2. Watsons Personal Care Stores (Philippines)
17.3.3. SouthStar Drug Inc.
17.3.4. Rose Pharmacy
17.3.5. The Generics Pharmacy
17.3.6. Generika Drugstores
18. Snapshot of Major Players Using Omni Channel Model in the Philippines Pharmacy Retail Market (Mercury Drug, Watsons, Rose Pharmacy and MedExpress Drugstore)
19. Snapshot of Emerging Hybrid Model in the Philippines Pharmacy Retail Market (Current Market Scenario, Strategies Adopted by Company, Barriers in Development of Market, Sales by Type of Product 2018 and Future Growth Prospects)
20. Philippines Pharmacy Retail Market Future Outlook and Projections, 2019-2023
20.1. By Revenue and Number of Stores, 2019-2023
20.2. By Segments, 2019-2023
20.2.1. By Market Structure (Organized Market and Unorganized Market), 2019-2023
20.2.2. By Store Location (Standalone and Hospital Based Pharmacies), 2019-2023
20.2.3. By Product Category (Prescribed Medicines, OTC Drugs, Non Pharmaceutical Products, Medical Equipments), 2023
20.2.4. By Drug Category (Generic and Patented Drugs), 2023
20.2.5. By Region, (North, Central and South), 2023
20.2.6. By Therapeutic Class (Anti-Infective, Cardiovascular, Gastro Intestinal, Anti Diabetic, Vitamins, Minerals and Nutrients, Respiratory, Pain Analgesics, Dermatology, Neuro, Gynaecological and Others), 2023
21. Analyst Recommendations for the Philippines Pharmacy Retail Market
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