Thursday, March 28, 2024

Email id: support@kenresearch.com, Contact Us : +91-9871552944

Home Health Care Future of Pharmacy Retail Market: Ken Research

Future of Pharmacy Retail Market: Ken Research

How Pharmacy Retail Market Is Positioned In Thailand?

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. Thailand pharmacy retail market revenue was observed increase from USD ~ million in 2014 to USD ~ million in the year 2019 therefore, growing at a CAGR of ~% during the 2014-2019 review periods. 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.

Thailand Pharmacy Retail Market

Moreover, 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. 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.

Growth of Online Consultations, E-Prescriptions, Online Stores of Pharmacies and Consolidation of Small Independent Pharmacies or Pharmacy Chains to Larger Chains; and Growing number of Licenses issued to Pharmacists to import, store or deal by Wholesale & Retail are some of the other growth drivers.

Thailand Pharmacy Retail Market Segmentation

By Market Structure (Organized and Unorganized Segment): The unorganized segment dominated in terms of revenue as well as pharmacy stores in Thailand during 2019. It is competitively positioned in OTC, Generics & Health Supplements & generally do not provide home delivery services. On the other hand, the organized segment has established a strong presence across all the regions in Thailand that resulted in higher footfall of customers at these outlets. In addition, organized chains have mobile applications, higher brand value, strong presence, and higher product listings & provide home delivery services.

By Product Categories (Prescribed, OTC, and Non-Pharmaceutical Products and Medical Equipment): Prescribed drugs dominated the market in terms of revenue in 2019 largely due to the higher price/margins involved. Among the other product categories, OTC & Non-Pharmaceutical products were consistently growing in terms of revenue share. Medical equipment captured the least revenue share.

By Drug Type (Generic and Patented Drugs): Generics Drugs within Thailand dominated in terms of revenue as it has high consumption volume alongside rising government healthcare schemes to increase patient purchasing power in the country. Whereas, patented drugs on the other hand are ailment specific.

By Therapeutic Class: Cardiovascular class dominated the market in terms of revenue in 2019 majorly due to a surge in Heart Failure (HF) risk factors such as obesity, hypertension & diabetes, related to changing lifestyle;  followed by Anti-infective segment.

By Region / Cities (Bangkok, Central, South, Northeast, North, Eastern, and Western): Bangkok and its vicinity region captured the second-highest number of pharmacy retail outlets (central region being the first) during 2019. However, in terms of revenues Bangkok region dominated majorly due to higher customer footfall & average basket size towards medicines in a particular region.

Comparative Landscape In Thailand Pharmacy Retail Market

Competition stage within the retail pharmacy industry has become highly fragmented with numerous unorganized chain brands present across almost every region. On the other hand, penetration of organized space is increasing over the years with top five players including Watsons Thailand, Boots Thailand, and Pure Pharmacy by Big C, Fascino Drugstores and Save Drug. 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.

Thailand Pharmacy Retail Market Future Outlook And Projections

With the growing aging population, the number of people that are affected by chronic NCDs, especially hypertension will affect almost half of the elderly population in Thailand & less commonly, diabetes, heart disease, stroke & cancer thus, driving the demand from retail pharmacy chain in the near future. Increasing customer footfalls along with a surge in telemedicine players for online consultations and home delivery services will drive industry growth over the long term. Expected growth in expenditure for both medicines & for other expenses will increase the distribution especially for private-sector treatments in Thailand.

Key Segments Covered: –

By Market Structure (Number of Pharmacy Stores & Revenue)

Organized

Prescribed Drugs

Over-The-Counter

Non Pharmaceutical Products

Medical Equipment

Unorganized

Prescribed Drugs

Over-The-Counter

Non Pharmaceutical Products

Medical Equipment

By Product Categories (Prescribed Drugs, Over-The-Counter, Non Pharmaceutical Products and Medical Equipment)

By Sales

Generic Drugs

Patented Drugs

By Therapeutic Areas

Cardiovascular

Anti-Infective

Pain / Analgesics

Respiratory

Vitamins / Minerals / Nutrients

Anti-Biotic

Gastrointestinal

Gynecology

Neuro

Oncology

Ophthalmology

Others (Dermatology, Antiulcerants, Macrolides & Similar Type, Angioten-Ii Antag. Comb, ANTI-Epileptics, Antihistamines Systemic, Fluoroquinoloes)

By Region / Cities

Bangkok & its Vicinity

Central

South

Northeast

North

East

West

Pharmacy Retail Stores / Chains Covered

Watsons

Boots Retail

Pure by Big C

Save Drug

Fascino

Bangkok Drugstore

Health Up

P&F

Lab Pharmacy

Tsuruha

Matsumotokiyoshi

I-care

Healthy Max

Other Independent Chains

Telemedicine Companies Covered

ChiiWii

Raksa

Ooca

Doctor Anywhere

CM Mediclinic

ArinCare

Doctor A-Z

Other Telemedicine Players

Key Target Audience

Pharmaceutical Manufacturing Companies

Pharmacy Retail Companies

Independent Pharmacies

Industry Associations

Government and Regulatory Bodies

Telemedicine Companies

Pharmaceutical Distributors & Wholesalers

Time Period Captured in the Report:-

Historical Period – 2014-2019

Forecast Period – 2019-2025

Key Topics Covered in the Report: –

Executive Summary

Thailand Healthcare and Pharmacy Retail Market Overview

Thailand Pharmacy Retail Market Supply

Thailand Pharmacy Retail Market Demand

Thailand Pharmacy Retail Industry Analysis

Comparative Landscape of Thailand Pharmacy Retail Market

COVID-19 Impact on Thailand Pharmacy Retail Market

Thailand Pharmacy Retail Market Future Outlook and Projections, 2019-2025

Analyst Recommendations in Thailand Pharmacy Retail Industry

Research Methodology /Appendix

For More Information on the Report, Click on the Below Link:-

Thailand Pharmacy Retail Market Growth

Related Reports by Ken Research: –

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 Class

Philippines Pharmacy Retail Market Outlook to 2025 – By Market Structure (Organized and Unorganized), By Location (Standalone and Hospital Based), By Region (North, Central and South), By Product Sales (Prescribed Medicines, OTC Products, Non Pharma Products and Medical Equipments), By Drug Type (Generic and Patented) and By Therapeutic Class

India E-Pharmacy Competition Benchmarking Report – A detailed analysis of major E-Pharmacy players in India

Contact Us:  –
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com

+91-9015378249

RELATED ARTICLES

Trends, Challenges and Opportunities in Osteoporosis Drugs Market

Osteoporosis, a condition characterized by weakened and brittle bones, poses a significant health concern for millions globally.The osteoporosis drugs market, encompassing medications used to...

Global Orthopedic Prosthetics Market Size and Growth

The global orthopedic prosthetics market is a dynamic and rapidly evolving sector within the healthcare industry, dedicated to providing innovative solutions for individuals with...

Dental Diagnostic Equipment Market: A Data-Driven Deep Dive

The dental diagnostic equipment market gleams with opportunity, poised to reach a staggering USD 12.43 billion by 2030. Fueled by technological advancements and a...

Most Popular

From Humble Beginnings to a $52 Billion Boom: Unveil Opportunities in India’s Booming Interior Design Market

India's interior designing market is witnessing a remarkable transformation, driven by various factors. This blog delves into the market size, growth projections, key trends,...

Smartphone Industry Insights: Navigating Growth, Trends, and Opportunities

The smartphone industry is a juggernaut, weaving itself into the fabric of our daily lives. From communication to commerce and entertainment, these pocket-sized powerhouses...

Theme Park Boom: Market Size, Trends & Top Players Shaping the Thrilling Future

The theme park industry isn't just about roller coasters and cotton candy anymore. It's a multi-billion dollar global phenomenon, offering immersive experiences that cater...

The Analysis on Global Capital Market, Industry and Report

The world of finance can be a complex labyrinth, especially when terms like "global capital markets" and "investment banking" get thrown around. While they're...