Future of Pharmacy Retail Market: Ken ResearchPosted by kenresearch on November 19th, 2020 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. Moreover, a 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 Contact Us: - Ken Research +91-9015378249 Like it? 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