Published by Ken Research
Posted on October 6, 2021
With growing ageing population, number of people that will get affected by chronic NCDs, especially hypertension will majorly affect almost half of the elderly population in Thailand & less commonly, diabetes, heart disease, stroke and cancer. Fascino pharmacy chain is planning to expand the current network (100+ branches) by opening 200 franchise outlets by the year ending 2023. Save Drug (part of Hospital Bangkok group) anticipates to expand the network of 100 branches nationwide & large modern retail operations, including discount stores & supermarket store format.
Increasing accessibility to Satisfactory Internet Bandwidth in both urban & rural areas of Thailand will drive the demand for online / E-consultations via telemedicine companies. Also, rising penetration of new and easy-to-handle teleconferencing systems will help them expand into various medical specialties other than endoscopy and surgery. For instance, the Krungthai-AXA insurance started offering telemedicine to policyholders in April 2020 as a result of COVID-19. Company started using services through BDMS network hospitals & Praram 9 Hospital.
COVID Impact on Customer Footfall in Pharmacies: Restrictions were put in place on tourists coming into the country due to lockdown however; Government of Thailand is planning to launch campaign to bring tourists to Phuket Province wherein the tourists will be quarantined along with required health check-ups for 14 days. The customer footfall in pharmacies is expected to become normal by the beginning of the next year.
The report titled “Thailand Pharmacy Retail Market Outlook to 2025 – By Market Structure (Organized & Unorganized Segment); By Region / Cities (Bangkok & its Vicinity, Central, South, Northeast, North, Eastern & West); By Product Categories (Prescribed, OTC, Non-Pharmaceutical Products and Medical Equipment); By Therapeutic Areas; and By Product Type (Patented and Generic Drugs)” by Ken Research suggested that the pharmacy retail market is further expected to grow in the near future as both existing companies and new entrants can focus on investing within marketing activities, hiring quality pharmacists, promotion of online platforms, focus on keeping stock of medicines for emerging diseases, partnerships with telemedicine players, using data analytics, acquisition of regional pharmacies, development of new retail channels and information on medicine intake. The market is expected to register a positive six year CAGR of 2.1% and 3.1% in terms of revenue and number of pharmacy stores respectively during the forecast period 2019-2025F.
Key Segments Covered: –
By Market Structure (Number of Pharmacy Stores & Revenue)
By Product Categories (Prescribed Drugs, Over-The-Counter, Non Pharmaceutical Products and Medical Equipment)
By Sales
By Therapeutic Areas
By Region / Cities
Pharmacy Retail Stores / Chains Covered:-
Telemedicine Companies Covered:-
Key Target Audience:-
Time Period Captured in the Report:-
Key Topics Covered in the Report: –
For More Information on the Report, Click on the Below Link:-
Thailand Pharmacy Retail Market
Related Reports by Ken Research:-
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 9.7% on the basis of revenue and a CAGR of 3.9% on the basis of number of pharmacy retail outlets over the period 2013-2019. The market is booming owing to rising number of cases of NCDs, growing online pharmacy services, increasing government health expenditure, consolidation of smaller chains to expand in different regions and services such as Online Consultations & E-Prescriptions coupled with per capita health expenditure of individuals in Malaysia.
The Philippines Pharmacy Retail Market is a booming industry backed by the growing demand for the generic medicines and increase in the number of chain pharmacies. The market had presence of different type of pharmacy stores such as Chinese drugstores, traditional medicine shops which are now replaced with modern American style pharmacies. The independent pharmacies and regional chains are being acquired by big national chains for expedited expansion. Further, some chains have also adopted the franchise model for store expansion. The high price for pharmaceutical products has shifted the consumer towards the consumption of generic medicines which are now in high demand. The government is revamping the public medicine distribution system in order to make them accessible to the people in rural areas. Online pharmacies are a relatively new concept and are gaining traction in the region. The market witnessed a growth of 3.4% during 2014-2019.
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.
Germany retail pharmacy market was observed to attain a mature stage. Germany serves as the pharmaceutical hub in terms of location for the development, production, and sale of pharmaceutical products within the Europe region. The increasing presence of both international, as well as domestic players coupled with domination by prescription-based pharmaceuticals type, has created a positive impact on the market. The pharmacy retail market has increased on the account of increasing healthcare facilities, increase in R&D and investment in the field of pharmaceutical and a heavy influx of participation by foreign players across the country.
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.
Contact Us: –
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249
With growing ageing population, number of people that will get affected by chronic NCDs, especially hypertension will majorly affect almost half of the elderly population in Thailand & less commonly, diabetes, heart disease, stroke and cancer. Fascino pharmacy chain is planning to expand the current network (100+ branches) by opening 200 franchise outlets by the year ending 2023. Save Drug (part of Hospital Bangkok group) anticipates to expand the network of 100 branches nationwide & large modern retail operations, including discount stores & supermarket store format.
Increasing accessibility to Satisfactory Internet Bandwidth in both urban & rural areas of Thailand will drive the demand for online / E-consultations via telemedicine companies. Also, rising penetration of new and easy-to-handle teleconferencing systems will help them expand into various medical specialties other than endoscopy and surgery. For instance, the Krungthai-AXA insurance started offering telemedicine to policyholders in April 2020 as a result of COVID-19. Company started using services through BDMS network hospitals & Praram 9 Hospital.
COVID Impact on Customer Footfall in Pharmacies: Restrictions were put in place on tourists coming into the country due to lockdown however; Government of Thailand is planning to launch campaign to bring tourists to Phuket Province wherein the tourists will be quarantined along with required health check-ups for 14 days. The customer footfall in pharmacies is expected to become normal by the beginning of the next year.
The report titled “Thailand Pharmacy Retail Market Outlook to 2025 – By Market Structure (Organized & Unorganized Segment); By Region / Cities (Bangkok & its Vicinity, Central, South, Northeast, North, Eastern & West); By Product Categories (Prescribed, OTC, Non-Pharmaceutical Products and Medical Equipment); By Therapeutic Areas; and By Product Type (Patented and Generic Drugs)” by Ken Research suggested that the pharmacy retail market is further expected to grow in the near future as both existing companies and new entrants can focus on investing within marketing activities, hiring quality pharmacists, promotion of online platforms, focus on keeping stock of medicines for emerging diseases, partnerships with telemedicine players, using data analytics, acquisition of regional pharmacies, development of new retail channels and information on medicine intake. The market is expected to register a positive six year CAGR of 2.1% and 3.1% in terms of revenue and number of pharmacy stores respectively during the forecast period 2019-2025F.
Key Segments Covered: –
By Market Structure (Number of Pharmacy Stores & Revenue)
By Product Categories (Prescribed Drugs, Over-The-Counter, Non Pharmaceutical Products and Medical Equipment)
By Sales
By Therapeutic Areas
By Region / Cities
Pharmacy Retail Stores / Chains Covered:-
Telemedicine Companies Covered:-
Key Target Audience:-
Time Period Captured in the Report:-
Key Topics Covered in the Report: –
For More Information on the Report, Click on the Below Link:-
Thailand Pharmacy Retail Market
Related Reports by Ken Research:-
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 9.7% on the basis of revenue and a CAGR of 3.9% on the basis of number of pharmacy retail outlets over the period 2013-2019. The market is booming owing to rising number of cases of NCDs, growing online pharmacy services, increasing government health expenditure, consolidation of smaller chains to expand in different regions and services such as Online Consultations & E-Prescriptions coupled with per capita health expenditure of individuals in Malaysia.
The Philippines Pharmacy Retail Market is a booming industry backed by the growing demand for the generic medicines and increase in the number of chain pharmacies. The market had presence of different type of pharmacy stores such as Chinese drugstores, traditional medicine shops which are now replaced with modern American style pharmacies. The independent pharmacies and regional chains are being acquired by big national chains for expedited expansion. Further, some chains have also adopted the franchise model for store expansion. The high price for pharmaceutical products has shifted the consumer towards the consumption of generic medicines which are now in high demand. The government is revamping the public medicine distribution system in order to make them accessible to the people in rural areas. Online pharmacies are a relatively new concept and are gaining traction in the region. The market witnessed a growth of 3.4% during 2014-2019.
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.
Germany retail pharmacy market was observed to attain a mature stage. Germany serves as the pharmaceutical hub in terms of location for the development, production, and sale of pharmaceutical products within the Europe region. The increasing presence of both international, as well as domestic players coupled with domination by prescription-based pharmaceuticals type, has created a positive impact on the market. The pharmacy retail market has increased on the account of increasing healthcare facilities, increase in R&D and investment in the field of pharmaceutical and a heavy influx of participation by foreign players across the country.
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.
Contact Us: –
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249
