Small Retail Pharmacies likely targets of Larger Chains in Malaysia Retail Pharmacy Market: Ken Research
GURUGRAM, India, June 7, 2021 /PRNewswire/ --
Key Findings:-
- MCO movement in Malaysia amidst COVID-19 reduced number of operating hours of Pharmacies but resulted in an increase of ~15% in online delivery for product categories majorly Personal Care, Sanitizers and Nutrition & Health Supplements.
- The Malaysian Cabinet with aim of reducing costs to customers introduced External Reference Pricing policy in May '19 to benchmark drug prices at wholesale and retail levels. However, the policy reduced trade margins for drugs in the country and led to a cascading effect to all the pharmacy players in the country.
- Healthcare spending in 2019 accounted for 10% of total budget of Malaysia wherein government's goal is to achieve the long term growth to be aligned with the WHO recommended healthcare spending of 7% of GDP.
Growing Number of Licences issued: Cumulative number of License A/B/E and NaOH issued under the Poison Act 1952 by the Pharmacy Enforcement is persistently increasing from approximately 9,000 in 2017 to more than 10,000 in 2019 wherein more than 50% of the total license issued in 2019 was accounted by License A, which is issued to a pharmacist to import, store and deal generally by wholesale and retail or by wholesale only or by retail only.
Consolidation of Pharmacies: Larger and mid-sized pharmacy retail chains in the industry are expanding organically by acquiring or merging with smaller chains and independent stores either to enhance their geographical presence or to increase their product & service portfolio. Some recent mergers include Health Lane Family Pharmacy Sdn Bhd buying over Kumpulan Farmasi Vitacare Sdn Bhd and acquisition of Caring Pharmacy by 7 Eleven group in Malaysia.
Collaborations & Partnerships: Partnerships of pharmacies with online consultation & e-prescription companies is growing in Malaysia as Telemedicine Blueprint envisioned that by 2020, the healthcare system of the country would be transformed with developments of advanced health systems by harnessing the power of information & multimedia technologies. Amidst the COVID pandemic, health care providers observed a shift in consumer behaviour, where people are now accepting more digital services such as tele consultation, medication delivery & Covid-19 screening services.
Analysts at Ken Research in their latest publication "Malaysia Pharmacy Retail Market Outlook to 2025- By Market Structure (Organized & Unorganized), By Location (Mall Based & High Street), By Product Sales (Prescribed Drugs, Generics, Non Pharmaceutical Products, Medical Equipments), By Drug Type (Patented & Generics) and By Therapeutic Areas", the Malaysia Retail Pharmacy Market has been increasing due to increasing geographical presence of pharmacy outlets, rising number of pharmacists along with expansion in value added services offered by major players to sustain and increase their user base in the country. The market is expected to register a positive CAGR of 9.3% in terms of revenue during the forecast period 2020-2025.
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
Key Topics Covered in the Report:-
- Overview of Malaysia Pharmacy Retail Market
- Trends and Growth Drivers in the Industry and Challenges Faced
- Malaysia Pharmacy Retail Market Size and Segmentations, 2013 - 2019
- Ecosystem and Value Chain of Pharmacy Retail Market in Malaysia
- Distributors & Wholesalers Landscape in Malaysia Pharmacy Retail Market
- Industry SWOT Analysis and BCG Matrix
- Telemedicine & Online Consultations Snapshot
- Contraceptive Demand among Customers in Malaysia
- 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
- Malaysia Pharmacy Retail Revenue
- Malaysia Number of Pharmacy Stores
- Malaysia Telemedicine Market
- Malaysia E-Prescriptions Market
- Private Pharmacists Malaysia
- Public Pharmacists Malaysia
- Malaysia Number of Pharmacists
- Malaysia Pharmaceutical Products
- Organized Pharmacies Malaysia
- Prescribed Drugs Revenue Malaysia
- Watsons Malaysia Market Share
- Guardian Pharmacy Malaysia Market Share
- Guardian Pharmacy Malaysia Revenue
- Alpro Pharmacy Market Revenue
- Generic Drugs Revenue Malaysia
- Major Players Malaysia Pharmacy Retail Market
- Kuala Lumpur Pharmacy Revenue
- Selangor Pharmacy Retail Revenue
- Cardiovascular Medicines Revenue
- Health lane Number of Pharmacy Stores
- Malaysia Pharmacy Retail Future
- Organized Pharmacy Chains Future Revenue
- Alpro Pharmacy Market Share
- Cosway Farmasi Market Share
- Multicare Pharmacy Market Revenue
- AA Pharmacy Market Revenue
- Johor Number of Pharmacies
- Major Ophthalmology Hospitals Malaysia
- Leading Private Hospitals Malaysia
- Malaysia Major Public Hospitals
- Malaysia Major Women Doctors
- Doc2us Services
- DoctorOnCall Services
- Patented Drugs Revenue Future
- Future Number of Pharmacy Outlets Malaysia
- Malaysia Pharmacy Future Revenue
- Mall Based Pharmacy Stores Malaysia
- Malaysia Pharmacy Retail Market Covid Impact
For More Information on the research report, refer to below link:-
Malaysia Pharmacy Retail Market
Related Reports:-
On the other hand, E-Pharmacy is at its nascent stage in India, but like other categories, it has the potential to be a very large industry segment in the near future. The advent of online pharmacy retailers in the Indian market during Covid period will further increase the penetration of the organized pharmacy segment in the country. Most e-pharmacies have seen a surge in demand, thanks to customers beginning to recognise them as a safer, faster, and cheaper mode than physical stores. It is expected that the E-Pharmacy model could account for 15%-20% of the total pharma sales in India over next 10 years, largely by enhancing adherence and access to medicines for a majority of the under-served population. Currently, many E-Pharmacy players such as Medlife, Netmeds, 1MG and Pharmeasy operate in this segment and offer varied value added services to the consumers. Though, the market competition is majorly concentrated among these major players, but we have witnessed the entry of many new entrants into this market in recent months owing to its rising popularity of the segment in the retail pharmaceutical industry.
Indonesia's pharmacy retail sector is in the growing phase with the presence of over 40,105 drugstores and pharmacies along with a revenue CAGR of 8.1% during 2014-2019. Increasing incidence of life-style related ailments such as Diabetes, Obesity, hypertension, and various heart-related diseases and prevalence of communicable diseases such as TB, influenza among the growing population are the main reasons behind positive growth in pharmacy retail revenue due to increased sales of private-label goods. Another major driver is the aging population. The UN has predicted that the percentage of Indonesians over 60 years old will reach 25% in 2050 or nearly 74 million elderly people.
The Vietnam Pharmacy Retail Market is in growing stage with increasing healthcare awareness due to growth of ageing population and rising per capita drug expenditure. The rising cases of non-communicable diseases have also contributed to the growth in the demand for drugs across various therapeutic classes. In recent years, chain pharmacy stores have been increasing their presence by opening new stores in different provinces. Government initiatives such as launching of a national medicine database as well as telemedicine platform are also positively impacted the industry. Vietnam Pharmacy Retail Market witnessed a revenue growth of 6.8% during 2014-2019 and CAGR of 8.7% basis number of pharmacies.
The market is highly fragmented with only four major PAN-India level players. It is still at its' growing stage. However, the unorganized sector dominates the market's revenue currently. The highest penetration of the labs is in Tier I cities, which is also the place for their reference labs. Digitalisation in the chain of diagnostics has helped remove mistakes from the time the samples have been collected to the last process of delivering the report to the customer. The major drivers for this market include the high elderly population and the shift from non-communicable to communicable diseases in India. Radiology test market has evolved over time with the advancement in the existing technology of imaging machines such as PET-scan which added more clarity in the diagnosis of the patient's disease. Whereas for pathology, the segment has gained dominance in the market owing to the fact that it is the preferred line of diagnosis for the majority of diseases prevalent in India including infectious diseases.
Volatile growth was observed within Thailand pharmacy retail market as multiple pharmacy stores closed due to the non-compliance of GPP standards required by the FDA. However, the closure of pharmacy outlets resulted in higher customer footfall in other pharmacies; hence a lower revenue growth rate was recorded in the year 2019. The market was observed in the growth stage owing to the growing intensity of competition among the retail pharmacies in the market in terms of wide product offering and value added services. The franchise model has become quite popular with new chains adapting to this model for faster store expansion. Moreover, the collaboration between state hospitals and small chains has helped patients being treated under "UHC" alongside the growth of pharmacy stores. Change in population structure i.e. the transition to the Thai aging society has led to a surge in drugs (including dietary supplements) demanded towards chronic diseases such as hypertension, diabetes, and others. The market is booming owing to the rising number of cases of NCDs, online pharmacy services, increasing government health expenditure, and other growth drivers.
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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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