South Africa Retail Pharmacy Market Expands at Healthy CAGR of 5.19% to Touch Significant Value of USD 7.35 Billion by 2030

Published | 14 June 2024

South Africa Retail Pharmacy Market is flourishing because of the growing population and healthcare needs and increased focus on the healthcare infrastructure development.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the South Africa Retail Pharmacy Market size at USD 4.17 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the South Africa Retail Pharmacy Market size to expand at a CAGR of 5.19% reaching a value of USD 7.35 billion by 2030. Growing rates of chronic illnesses including diabetes, hypertension, respiratory disorders, and others, together with an aging population are major drivers of the South Africa retail pharmacy market. Further factors expected to propel the growth of the South African retail pharmacy market during the projected period include growing healthcare expenses and the advent of e-commerce platforms and online pharmacies.

Opportunity - Rising popularity of e-commerce platforms

The growing popularity of e-commerce platforms and the increasing launches of online pharmacies in the country are anticipated to provide lucrative growth opportunities for the South Africa retail pharmacy market. Online pharmacies based in South Africa, such as Pharmacy Direct, Clicks, Dis-Chem Pharmacies, etc., are gaining significant popularity among consumers owing to their convenience. The COVID-19 pandemic further accelerated the growth of online pharmacies in the country as they provide no-touch doorstep delivery and digital payment facilities, which increased the overall retail pharmacy growth in South Africa.

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South Africa Retail Pharmacy Market

Segmental Coverage

South Africa Retail Pharmacy Market – By Drug Type

Based on drug type, the South Africa Retail Pharmacy Market is segmented into generic, over the counter (OTC), and patented. The generic segment holds the largest share in the South Africa Retail Pharmacy Market. The price difference between generic name drugs and branded drugs is often 80% to 85%. This is because there is no need to repeat clinical studies or research for generic drugs. The branded, non-generic drug must pass the required tests to confirm its safety and effectiveness. In South Africa, generic drugs are gaining traction since they are more affordable without compromising quality.

Competitive Landscape

Major players operating in the South Africa Retail Pharmacy Market include Clicks Group, Dis-Chem Pharmacies, Medipost Pharmacy, Alpha Pharm, Link Pharmacy, Health-Wise Pharmacy, Link Pharmacy, Pick n Pay Pharmacy, and Medicare Pharmacy.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in the South Africa Retail Pharmacy Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the South Africa Retail Pharmacy Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the South Africa Retail Pharmacy Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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