Philippines Pharmacy Retail Market is anticipated to grow by USD 6Th Mn by 2025- How will the market gain traction to be able to reach at its targeted number?
The government distribution of medicines will improve in future due to the initiatives such as Botika Ng Bayan, Distribution through Local Health Units and Rural Health Units, says a report by Ken Research
Other Challenges in Philippines Pharmacy Retail Market Outlook to 2025
Demand for OTC products like Alcohol Based Cleaners, Vitamin C and D Tablets, Immunity Boosters and Health Supplements was boosted during quarantine. Maintenance Medicines were also in high demand. During the starting of the Quarantine, Pharmacies witnessed increase in sales due to bulk purchase, later the sales declined. Pharmacies faced supply chain issues especially in the ECQ zones. This has affected the sales of the pharmacies. Further, Philippines witnessed lockdown for a long duration.
2.Trends and Development that the Pharmacy retail market of Philippines will experience.
1.Corona Virus effect on pharmacy sales in Philippines Pharmacy Retail Market.
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In July 2018, DOH relaunched Botika Ng Bayan initiative to provide free essential medicines for common diseases focusing on rural and poor people. The chain stores have increased tremendously in the Philippines. Especially TGP and Generika as they have adopted franchise model for store expansion. This increase in chained pharmacies has led to the growth of house brands or private labels. In starting of 2019, President Rodrigo signed Universal Health Care (UHC) Bill into law (Republic Act No. 11223) which automatically enrolls all Filipino citizens in the National Health Insurance Program. This will increase the healthcare affordability in the region.
3. Assessing the Possibilities in the Philippines Pharmacy Retail Market
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Penetration of internet, growth of social media has opened more connectivity options for the companies.
Drive Through Stores, self-service stores are increasing customer convenience.
This has helped in increasing the footfall in pharmacies for purchasing non pharmaceutical products.
Chain stores can serve regional customers where they don’t have strong presence.
Key Segments Covered
By Market Structure (In USD Billion)
Organized Market
Unorganized Market Type of Store Location (In USD Billion)
Standalone Pharmacy
Hospital Based Pharmacy
By Region (In USD Billion)
North Central
South
By Type of Sales (In USD Billion)
Prescribed Medicines
OTC Products
Non Pharmaceutical Products
Medical Equipment
By Type of Drug (In USD Billion)
Generic
Patented
By Therapeutic Class (In USD Million)
Cardiovascular
Anti-Infectives
Pain/Analgesics
Anti Diabetic
Vitamins/Minerals /Nutrients
Dermatology
Respiratory
Gastro Intestinal
Neuro
Oncology
Contraceptive
Gynecological
Ophthalmological
Others Companies Covered
Mercury Drug Corporation
Watsons Personal Care Stores
SouthStar Drug Inc.
The Generics Pharmacy
Rose Pharmacy
Generika Drugstores
Several Regional Players & Others
Key Target Audience
Pharmaceutical Manufacturer Companies
Pharmaceutical Importing Companies
Pharmaceutical Distributing Companies
Major Retail Companies
E-Commerce Pharmaceutical Retailers
Consultancy Companies
Industry Associations
Regulation Bodies
Time Period Captured in the Report:
Historical Period: 2014-2019
Forecast Period: 2020-2025
Key Topics Covered in the Report
Healthcare System in the Philippines
Major Hospitals & Doctors in the Women Healthcare
Usage of Contraception & Family Planning in the Philippines
Health Insurance in the Philippines
Supply Structure of the Philippines Pharmacy Retail Market
Trends & Development in the Philippines Pharmacy Retail Market
Issues & Challenges in the Philippines Pharmacy Retail Market
SWOT Analysis & BCG Matrix in the Philippines Pharmacy Retail Market
Philippines Pharmacy Retail Market Size & Segmentation, 2014-2019
Online Pharmacy Regulations in the Philippines
Telemedicine & Growth of Online Medical Consultation in the Philippines
Major Telemedicine Providers in the Philippines
Operating Model of Hybrid Pharmacies
Competition Scenario, Market Share, Cross Comparison of Major Players (Online & Offline) and Company Profile
Assessing Regional Pharmacies in the Philippines
Corona Virus Impact on the Consumer Behavior & Pharmacy Sales
Future Market Size and Segmentations, 2019-2025F
Covid 19 Impact on the Philippines Pharmacy Retail Market
Analysts’ Recommendations
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