Report Overview

Australia and New Zealand Retail Pharmacy Market – Industry Trends & Forecast Report, 2030

The Australia and New Zealand Retail Pharmacy Market size by value was estimated at USD 16.3 billion in 2023. During the forecast period between 2024 and 2030, the Australia and New Zealand Retail Pharmacy Market size is expected to expand at a CAGR of 7.60% reaching a value of USD 25.3 billion by 2030. The Australia and New Zealand Retail Pharmacy Market is driven by an aging population, increasing prevalence of chronic diseases, and growing consumer preference for over the counter (OTC) medications. Enhanced healthcare awareness, government healthcare initiatives, and expanding pharmacy networks further contribute to market growth. Technological advancements, such as e-prescriptions and online pharmacy services, are also boosting accessibility and convenience. Additionally, rising healthcare expenditure and demand for personalized patient care are significant factors propelling the market.

Retail Pharmacy – Overview

Retail Pharmacy encompasses the stores where you pick up your prescriptions and buy over the counter (OTC) medications. It includes both independent, local pharmacies and large chain stores. Pharmacists play a key role, in dispensing drugs and offering advice. The industry is growing due to an aging population and rising healthcare needs, but also faces challenges from online pharmacies and competition from big-box retailers.

Australia and New Zealand Retail Pharmacy Market

Growth Drivers

Rapidly Aging Population in Australia and New Zealand

The rising elderly population in Australia and New Zealand is significantly driving the Retail Pharmacy market's growth. As the number of seniors increases, so does the demand for prescription medications, over the counter (OTC) drugs, and health-related products. The demographic shift necessitates expanded pharmacy services, including personalized care and medication management. Additionally, age-related health issues such as chronic diseases and mobility impairments further amplify the need for pharmaceutical and wellness products. Consequently, pharmacies are adapting by offering specialized products and services to cater to the unique needs of the elderly, thus fueling market expansion.

Challenges

Price Competition from Discount Retailers

Amidst the allure of discount retailers, traditional pharmacy outlets face intensified price competition. To navigate the challenge, maintaining focus on quality and service is imperative. Emphasizing the value of expertise and personalized care can differentiate pharmacies from discount-centric rivals. Implementing loyalty programs tailored to consumer needs fosters customer retention. Strategic collaborations with healthcare providers amplify the holistic healthcare experience, positioning pharmacies beyond mere product providers. Further, investing in technology for streamlined operations enhances efficiency, allowing for competitive pricing without compromising service quality. Balancing affordability with value-added services fortifies pharmacies against discount retailer pressures.

Impact of Escalating Geopolitical Tensions on Australia and New Zealand Retail Pharmacy Market

Escalating geopolitical tensions can significantly impact the Australia and New Zealand Retail Pharmacy Market. The nations heavily rely on global trade for pharmaceuticals and medical supplies. Increased tensions may disrupt supply chains, leading to shortages and price fluctuations. Import restrictions and tariffs could drive up costs for pharmacies and consumers alike. Moreover, uncertain geopolitical climates may deter foreign investment and hinder business expansion efforts in the region. Local pharmacies may face challenges in sourcing essential medications, affecting their ability to meet patient needs and maintain profitability. Additionally, geopolitical instability can dampen consumer confidence, leading to reduced spending on non-essential healthcare products. To navigate these challenges, pharmacies may need to diversify their supply chains, explore domestic production options, and adopt flexible pricing strategies.

Australia and New Zealand Retail Pharmacy Market

Segmental Coverage

Australia and New Zealand Retail Pharmacy Market – By Product Type

On the basis of product type, Australia and New Zealand Retail Pharmacy Market is divided into Prescription Drugs, Over the Counter (OTC) Drugs, Personal Care Products, Health & Wellness Products, and Medical Devices segments. The prescription drugs segment is the largest product type in the Australia and New Zealand Retail Pharmacy Market. The segment dominates the market due to the essential nature of prescription medications, the aging population, and the rising prevalence of chronic diseases in the region. Prescription drugs constitute the highest revenue share, driven by the continuous demand for effective and specialized treatments. The robust healthcare infrastructure and high health expenditure in both Australia and New Zealand further bolster the dominance of the segment in the Retail Pharmacy Market.

Australia and New Zealand Retail Pharmacy Market – By Distribution Channel

Based on distribution channel, Australia and New Zealand Retail Pharmacy Market is divided into Online Pharmacy, Hospital Pharmacy, Retail Pharmacy, and Supermarket/Hypermarket segments. The retail pharmacy distribution channel holds the largest market share in the Australia and New Zealand Retail Pharmacy Market. The dominance is attributed to the extensive network of retail pharmacies across both countries, offering a wide range of pharmaceutical products and healthcare services. Retail pharmacies are preferred for their accessibility, personalized customer service, and comprehensive medication management. Their established presence and trust in local communities contribute significantly to their leading position in the market, outpacing other segments like online pharmacies, hospital pharmacies, and supermarkets/hypermarkets.

Australia and New Zealand Retail Pharmacy Market – By End User

Based on end user, Australia and New Zealand Retail Pharmacy Market is divided into Adult, Pediatric, and Geriatric segments. The adult segment holds the largest market share in the Australia and New Zealand Retail Pharmacy Market. The segment’s dominance is driven by a higher prevalence of chronic diseases, lifestyle-related health issues, and the demand for a wide range of pharmaceutical and healthcare products among adults. The adult population's greater purchasing power and proactive health management practices further bolster the segment's leading position in the market. Moreover, increased awareness and accessibility to advanced medical treatments contribute to the significant market share held by the adult segment.

Australia and New Zealand Retail Pharmacy Market – By Country

Based on country, Australia and New Zealand Retail Pharmacy Market is divided into. Australia is leading in the Australia and New Zealand Retail Pharmacy Market. Australia’s dominance is attributed to its larger population, higher healthcare expenditure, and a more developed Retail Pharmacy infrastructure. The market in Australia is characterized by a higher number of retail pharmacy chains, increased consumer spending on health and wellness products, and favorable government policies supporting pharmacy operations. Additionally, the presence of major pharmacy chains and a well-established regulatory environment further contribute to Australia's leading position in the market.

Competitive Landscape

Major players in the Australia and New Zealand Retail Pharmacy Market include Chemist Warehouse, Priceline Pharmacy, Amcal, TerryWhite Chemmart, Guardian Pharmacy, Discount Drug Stores, Unichem, Life Pharmacy, Pharmacy 4 Less, and Good Price Pharmacy Warehouse. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Product Type

• Prescription Drugs

• Over the Counter (OTC) Drugs

• Personal Care Products

• Health & Wellness Products

• Medical Devices

By Distribution Channel

• Online Pharmacy

• Hospital Pharmacy

• Retail Pharmacy

• Supermarket/Hypermarket

By End User

• Adult

• Pediatric

• Geriatric

By Country

• Australia

• New Zealand

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Australia and New Zealand Retail Pharmacy Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Rising Elderly Population in Australia and New Zealand
         2. Increased Healthcare Expenditure
         3. Growth in Online Pharmacy Sales
         4. Expansion of Pharmacy Services
      2. Restraints
         1. Stringent Regulations on Pharmacy Ownership
         2. Price Competition from Discount Retailers
      3. Opportunities
         1. Integration of Telehealth Services with Pharmacies
         2. Expansion into Wellness and Preventative Care
      4. Challenges
         1. Maintaining Profitability in a Competitive Market
         2. Managing the Shift Towards Online Pharmacy Sales
         3. Ensuring Pharmacist Availability in Remote Areas
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Australia and New Zealand Retail Pharmacy Market: Marketing Strategies
5. Australia and New Zealand Retail Pharmacy Market: Pricing Analysis
6. Australia and New Zealand Retail Pharmacy Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product Type
         1. Prescription Drugs
         2. Over the Counter (OTC) Drugs
         3. Personal Care Products
         4. Health and Wellness Products
         5. Medical Devices
      2. By Distribution Channel
         1. Online Pharmacy
         2. Hospital Pharmacy
         3. Retail Pharmacy
         4. Supermarket/Hypermarket
      3. By End User
         1. Adult
         2. Pediatric
         3. Geriatric
      4. By Country
         1. Australia
         2. New Zealand
7. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Australia and New Zealand Retail Pharmacy Company Market Share Analysis, 2023
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
8. Impact of Escalating Geopolitical Tensions on Australia and New Zealand Retail Pharmacy Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
   1. Chemist Warehouse
   2. Priceline Pharmacy
   3. Amcal
   4. TerryWhite Chemmart
   5. Guardian Pharmacy
   6. Discount Drug Stores
   7. Unichem
   8. Life Pharmacy
   9. Pharmacy 4 Less
   10. Good Price Pharmacy Warehouse
   11. Other Prominent Players
10. Key Strategic Recommendations
11. Research Methodology
    1. Qualitative Research
       1.  Primary & Secondary Research
    2.  Quantitative Research
    3.  Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4. Breakdown of Primary Research Respondents, By Country
    5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       Australia and New Zealand Retail Pharmacy Segmentation

Figure 2       Australia and New Zealand Retail Pharmacy Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       Australia and New Zealand Retail Pharmacy Market Size, By Value (USD Billion), 2019–2030

Figure 5       Australia and New Zealand Retail Pharmacy Market Share, By Product Type, By Value, 2019–2030

Figure 6       Australia and New Zealand Retail Pharmacy Market Share, By Distribution Channel, By Value, 2019–2030

Figure 7       Australia and New Zealand Retail Pharmacy Market Share, By End User, By Value, 2019–2030

Figure 8       Australia and New Zealand Retail Pharmacy Market Share, By Country, By Value, 2019–2030

List of Tables

Table 1        Australia and New Zealand Retail Pharmacy Market Size, By Value (USD Billion), 2019–2030

Table 2        Australia and New Zealand Retail Pharmacy Market Size, By Product Type, By Value, 2019–2030

Table 3        Australia and New Zealand Retail Pharmacy Market Size, By Distribution Channel, By Value, 2019–2030

Table 4        Australia and New Zealand Retail Pharmacy Market Size, By End User, By Value, 2019–2030

Table 5        Australia and New Zealand Retail Pharmacy Market Size, By Country, By Value, 2019–2030

Table 6        Amcal Company Overview

Table 7        Amcal Financial Overview

Table 8        TerryWhite Chemmart Company Overview

Table 9        TerryWhite Chemmart Financial Overview

Table 10      Guardian Pharmacy Company Overview

Table 11      Guardian Pharmacy Financial Overview

Table 12      Discount Drug Stores Company Overview

Table 13      Discount Drug Stores Financial Overview

Table 14      Unichem Company Overview

Table 15      Unichem Overview

Table 16      Life Pharmacy Company Overview

Table 17      Life Pharmacy Financial Overview

Table 18      Pharmacy 4 Less Company Overview

Table 19      Pharmacy 4 Less Financial Overview

Table 20      Other Prominent Players

Table 21      Other Prominent Players