Thailand's Quality Healthcare Facilities and Booming Medical Tourism will Drive the Revenue for Pharmacy Retail Chains over Long Term: Ken Research
The report covers various aspects including the number of pharmacies, revenue, trends & developments, issues & challenges faced by the industry, competition landscape, telemedicine players, and others. Thailand pharmacy retail market report concludes with projections for the future of the industry including forecasted revenue by 2025, market segmentations, COVID-19 impact, and analysts’ take on the future.
Gurugram, India, Oct. 18, 2021 (GLOBE NEWSWIRE) -- Key Findings
Anticipated increase from 4.6 million elderly people aged 70 years and above in 2016 (~43% of the total number of elderly people) to ~5.6 million by the year ending 2021.
Steady growth in expenditure for both medicines & for other expenses will increase the distribution especially for private-sector treatments in Thailand, which is anticipated to grow by 4.7% by the year ending 2021, growing from 4.6% increase in 2018.
Drug sales via online platform will be facilitated in more regulated and convenient way with more virtual support offered by the Telemedicine & e-prescription companies.
The penetration of telemedicine services is slowly increasing in other cities however, higher proportion of participating sites are located in Bangkok & its vicinity.
Pharmacies in Thailand will not only offer medicines, but will also extend their offer to include various types of products and services such as cosmetics, supplements, medical appliances and consultations to further compete over long term.
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)
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
Bangkok Drugstore Pharmacy Stores
Bangkok Drugstore Retail Revenue
Bangkok Pharmacy Retail Market
Boots Thailand Market Revenue
Cardiovascular Medicines Revenue
Doctor Anywhere Services Thailand
Future Number of Pharmacy Outlets Thailand
Future of Thailand Pharmacy Retail Market
Generic Drugs Revenue Thailand
Health-Up Pharmacy Revenue
Leading Private Hospitals Thailand
Matsumotokiyoshi Pharmacy Market Share
Number of Healthcare Facilities in Thailand
Number of Pharmacists in Thailand
Number of Pharmacy Stores in Thailand
Organized Pharmacy Chains Future Revenue
P&F Pharmacy Market Share
Pharmacy Retail Market in Thailand
Prescribed Drugs Revenue Thailand
Private Pharmacists Thailand
Public Hospitals in Thailand
Public Pharmacists Thailand
Pure Pharmacy Stores in Thailand
Save Thailand Drug Pharmacy Revenue
Thailand Generic and Patented Drugs Market
Thailand Organized Pharmacy Retail Market
Thailand Pharmacy Retail Stores
Thailand Prescribed Drugs Retail Market
Thailand Telemedicine Market
Thailand Unorganized Pharmacy Retail Market
Type I and II Pharmacies Thailand
Watsons Thailand Market Share
Women Health Doctors in Thailand
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
CONTACT: Contact Us: - Ken Research Ankur Gupta, Head Marketing & Communications Support@kenresearch.com +91-9015378249