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Malaysia Pharmacy Retail Market, Malaysia Pharmacy Retail Industry, Market Major Players: Ken Research
February 2021

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How is the Malaysia Pharmacy Retail Market Positioned?

Market Overview: Malaysia Pharmacy Retail market in terms of revenue increased at a single digit CAGR over the review period 2013-2019. The market was observed to be at growth stage owing to growing intensity of competition among the Retail Pharmacies in the market in terms of wide product offering and Value Added Services.

The Malaysia Pharmacy Retail industry has grown at a CAGR of ~% on the basis of revenue and a CAGR of ~% on the basis of Number of Pharmacy Retail Outlets over the period 2013-2019. The market is booming with the growing number of cases in NCDs, Online Pharmacy services, Increasing government health expenditure, consolidation of smaller chains to expand in different regions. Services such as Online Consultations & E-Prescriptions coupled with per capita Health Expenditure of individuals in Malaysia.

Malaysia has approximately ~ thousand community pharmacies, ~ pharmacy chain brands and ~ thousand pharmacists. In addition to that, medicine prices in Malaysia are on the rise wherein the medical rates are estimated to have increased ~% last year, the highest in Asia Pacific. In 2016, Malaysia started leveraging technology & business innovation wherein patients started connecting with doctors online without the need to go to a physical clinic. Moreover, with prescriptions patients can purchase & have their medicines delivered at ~% to ~% less price than they would pay while visiting a private hospital or clinic.

Malaysia Pharmacy Retail Market Segmentation

By Market Structure: Organized players in the industry dominated the revenues in pharmacy retail market in Malaysia in 2019. Organized market has established strong presence across all the regions in Malaysia that resulted in higher footfall of customers at these outlets. Moreover, the number and quality of services along with home delivery option resulted in higher orders from these pharmacy outlets in terms of pharmaceutical & non pharmaceutical products.

By Location: On the basis of Revenue & Number of Stores, High Street Based Pharmacies dominated the Retail Pharmacy Market in Malaysia. However, the Customer Footfall & Average Basket Size at Mall Based Pharmacies was comparatively high as customers also purchased Non Pharmaceutical Products along with the medications.

By Product: Prescribed Medicines dominated the market in terms of Revenue largely due to the higher costs of such medicines in 2019. Among the other product categories, Over-The-Counter and Non Pharmaceutical Products were consistently growing in terms of Revenue Share. Medical Equipments being the last category showed stagnant growth over the years in the country. Demand for Non-Pharmaceuticals and OTC is consistently growing in Mall Based Stores whereas Prescribed Drugs are generally purchased by the customers from the high street stores.Amidst the COVID-19 crisis, Non Pharmaceutical Products saw a significant increase in percentage in terms of market share in the product category.

By Drug Type: Generics Drugs in Malaysia Pharmacy Retail Market dominated the market in terms of revenue as they are affordable by the majority of the population and are easily available to the customers in their nearby stores.

On the other hand, patented drugs in the market are generally being recommended by the doctors and are usually taken for chronic diseases. These medicines are largely provided by the Government based pharmacies or dispensaries.

By Region: Selangor Region in Malaysia has the highest number of pharmacy retail outlets as in 2019. The region dominated the market in terms of Revenues followed by Johor & Kuala Lumpur largely due to the presence of major organized chains & higher out of pocket expenditure.

By Therapeutic Class: Anti-Infective dominated the market in terms of revenue followed by Cardiovascular in 2019 majorly due to the number of cases that have almost doubled over the years. It is followed by Pain/Analgesics, Vitamins Minerals & Nutrients, Anti-Biotics & Respiratory.

Circulatory, Respiratory, Neoplasms, Genitourinary are the major therapeutic areas for Growing number of Deaths in the Country in Private and Public Healthcare Units.

Competition Scenario in Malaysia Pharmacy Retail Market

The industry is highly competitive with 35+ organized chain brands present across almost every region in Malaysia. The market is moderately concentrated with the top 5 players namely Watsons, Guardian, Caring, Healthlane & Alpro Pharmacy. However, in terms of Pure Pharmacy medication sales Caring Pharmacy, Alpro Pharmacy, Multicare & Big Pharmacy dominated the market.

The players in the industry compete on the basis of parameters such as Number of Pharmacy Stores, Geographical Presence, Brand Recognition, and Partnerships with Telemedicine & E-Prescription Providers, product portfolio, online deliveries & Other Value Added Services.

Malaysia Pharmacy Retail Market Future Outlook and Projections

The customer footfall at pharmacy retail outlets reduced under Movement Control Order (MCO) by Malaysian Government amidst the Covid-19 pandemic will witness growth by the end of 2025. The growing demand from the customers along with the online platforms to place order will drive the growth in the industry. Increasing per capita health expenditure, number of NCD patients along with ease in availability of medicines and future acquisitions & partnerships in terms of expansion & service addition in the portfolio will drive the pharmacy retail industry in future in Malaysia.

Key Segments Covered:-

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

Organized

Organized Mall Based

Organized High Street Stores

Unorganized

Unorganized Mall Based

Unorganized High Street

By Location (Number of Pharmacy Outlets & Revenue in USD Mn

Mall Based

Prescribed Drugs

Over-The-Counter

Non Pharmaceutical Products

Medical Equipments

High Street

Prescribed Drugs

Over-The-Counter

Non Pharmaceutical Products

Medical Equipments

By Product Sales

Prescribed Drugs

Over-The-Counter

Non Pharmaceutical Products

Medical Equipments

By Sales

Patented Drugs

Generics

By Region

Selangor

Johor

Kuala Lumpur

Sarawak

Others

By Therapeutic Areas

Anti-Infective

Cardiovascular

Pain/Analgesics

Vitamins/Minerals/Nutrients

Antibiotic

Respiratory

Gastro Intestinal

Gynaecology

Neuro

Others

Companies Covered:-

Watsons Malaysia

Guardian Pharmacy

Caring Pharmacy

Alpro Pharmacy

Healthlane Pharmacy

Multicare Pharmacy

AM PM Pharmacy

Cosway Farmasi

Aeon Wellness

AA Pharmacy

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 – 2013-2019

Forecast Period – 2020-2025

For More Information on the research report, refer to below link:-

Malaysia Pharmacy Retail Market

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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
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