Increase in Number of Value Added Services by Pharmacies along with Growing Presence for Online Pharmacies will augment the growth in Australia Pharmacy Retail Market: Ken Research

• More than 65% of all medicines dispensed are to those aged 65 or >65 years & most of whom are pensioners or concession card holders.
• 33% of customers at Pharmacies in Australia were driven by convenience of the location.
• Community pharmacies in Australia provide a national network of National Diabetes Services Scheme access points around 1.5 Million Australians with diabetes who have registered with the NDSS.
• Franchise model has become quite popular in Australia with new chains adapting to this model for faster store expansion.

Consolidation of Pharmacies in the Country: Medium Sized Chains are either expanding organically in terms of Number of Stores or becoming a part of bigger Banner Groups like Sigma Healthcare, API and EBOS Group. Financial performance of Banner/Franchise pharmacies is stronger than Independents regardless of stores owned. Major famous banner groups in Australia generate gross profit of 33% or above, higher than that of Independent Pharmacies. Pharmacy Chains under banner groups are enjoying stability in terms of medicine supplies and other software advantages.

Growing in E-Prescription Scenario: As a result of COVID-19 Pandemic, Government fast-tracked the rollout of e-prescriptions as part of the country’s response to the situation. Australia’s first e-prescription was dispensed at in Victoria in May 2020 as a result of COVID-19 Pandemic. Prescribers and dispensers across Australia have already generated more than 3.5 million electronic prescriptions and repeats as of May 2021. Expansion of e-prescription is staged to roll-out across rest of the country.

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

https://www.kenresearch.com/healthcare/pharmaceuticals/australia-pharmacy-retail-market-outlook-to-2025/444312-91.html

Rising E-Health Services: Federal Government of Australia announced expansion of Medicare i.e. subsidized telehealth services for all people in the country. Pharmacies are partnering with Tele consultation companies to enhance their service portfolio and hence increasing number of prescriptions and Medication demand at their stores. These services witnessed a huge surge in demand due to COVID-19 pandemic. More than 4.0 Million health and medical services have been delivered to a total of more than 3 Million patients through the telehealth items introduced by the Australian Government for the COVID-19 pandemic.

Analysts at Ken Research in their latest publication “Australia Pharmacy Retail Market Outlook to 2025- Led by Growth in Increasing Number of Customer Footfall and Organic Expansion of Pharmacies” observed that the Pharmacy Retail Market in Australia has been growing over the years as a result of rising Number of Services Offered, Per capita Health Expenditure, Health Budget of the country, Growth in Online Pharmacies & Tele consultations, More number of Stores and option of Home Delivery of medications. Australia Pharmacy Retail Market is anticipated to grow with a CAGR of 5.1% on the Basis of Total Revenue over the forecast period 2020-2025.

Australia Pharmacy Retail Market in terms of Number of Stores is expected to grow with a CAGR of 1.5% in the forecast period 2020-2025. Online Pharmacy Retail Market in terms of Revenue is anticipated to growth with a CAGR of 3.9% in the forecast period 2020-2025.

Key Segments Covered: -
By Market Structure (Number of Pharmacy Outlets & Revenue in AUD Mn.)
Organized
Prescribed Drugs
Over-The-Counter
Non Pharmaceutical Products
Medical Equipments
Unorganized
Prescribed Drugs
Over-The-Counter
Non Pharmaceutical Products
Medical Equipments

By Product Sales (Revenue in AUD Mn)
Prescribed Drugs
Over-The-Counter
Non Pharmaceutical Products
Medical Equipments

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

Related Reports by Ken Research: -

https://www.kenresearch.com/healthcare/pharmaceuticals/indonesia-pharmacy-retail-market-outlook-to-2025/394185-91.html

https://www.kenresearch.com/healthcare/pharmaceuticals/thailand-pharmacy-retail-market-outlook-to-2025/384701-91.html

https://www.kenresearch.com/healthcare/pharmaceuticals/malaysia-pharmacy-retail-market-outlook-to-2025/353094-91.html

Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

Ken Research Pvt. Ltd.,
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Ken Research is a research based management consulting company. We provide strategic consultancy to aid clients on critical business perspective: strategy, marketing, organization, operations, technology, transformation, digital, advanced analytics, corporate finance, mergers & acquisitions and sustainability across all industries and geographies.

This release was published on openPR.