Malls will remain Closed in the Enhanced Community Quarantine: Philippines government has enforced some of the hardest lockdown regulation which was extended for the duration of more than four months in major parts of the country. This lockdown was in three stages: Enhanced Community Quarantine (ECQ), Modified Community Quarantine (MCQ) and General Community Quarantine (GCQ). During the ECQ period, malls were closed due to which pharmacies operating in the mall were shut down.

Pharmacies are Hoarding Vitamins due to High Spike in Demand: Philippines Pharmacies and Consumers started hoarding popular vitamins including Multivitamins, Vitamin D, Vitamin C, and others after the implementation of lockdown in the Luzon islands. The sales went up approximately 10 times higher than the March month, which created a situation of “Artificial Shortage”. The consumers who usually used to purchase medicines for a week’s requirement started stocking medicines for 2 months of usage.

Impact of COVID 19 on the Philippines Pharmacy Retail Market: The Pharmacy Retail Industry was highly impacted due to the COVID 19. Pharmacies present in the malls had to stop their operations due to the lockdown regulations. Many pharmacies reduced their operational timings. Pharmacies witnessed high demand for OTC products, especially for Vitamin Supplements. The delivery lead time for Online Pharmacies had increased drastically due to the lockdown regulations.

Government implementing Regulation for accepting E-Prescription: In order to encourage people to stay at home, the government of the Philippines implemented regulations for Telemedicine and E-Prescriptions. Further, it made compulsory for all pharmacies to accept E-Prescription as a valid legal document for dispensing medicines. The DOH also started providing telemedicine services in partnership with several private organizations and started providing E-Prescription.

Analyst at Ken Research in their latest publication “Philippines Pharmacy Retail Market Outlook to 2025 – By Market Structure (Organized and Unorganized), By Location (Standalone and Hospital Based), By Region (North, Central, and South), By Product Sales (Prescribed Medicines, OTC Products, Non-Pharma Products, and Medical Equipments), By Drug Type (Generic And Patented) and By Therapeutic Class” observed that the Philippines is a growing market for pharmaceutical products. The market has the presence of a high number of unorganized pharmacy stores. The chain pharmacies are acquiring regional pharmacies and independent pharmacies for fast expansion. Many chains are also adopting now franchise model for store expansion. Increasing demand for maintenance medicines and increased health awareness due to the COVID Outbreak will continue the growth in the market. The market demand will increase for generic medicines due to the low prices. The Philippines Pharmacy Retail Market is expected to grow at a CAGR of 3.0% on the basis of the revenue generated during the forecast period of 2019-2025.

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

For More Information on The Research Report, Refer To Below Link: –

Philippines Pharmacy Retail Market

Related Reports by Ken Research: –

India E-Pharmacy Competition Benchmarking Report – A detailed analysis of major E-Pharmacy players in India

India Online and Offline Pharmacy Retail Market Outlook to 2025 – By Organized and Unorganized; By Standalone and Hospital based Pharmacy; By Product Category (Prescribed Drugs, OTC Drugs and Non-Pharmaceutical Goods) and Therapeutic Class

Germany Retail Pharmacy Market Outlook to 2023 – By Type of Pharmaceuticals (Prescription Only, Pharmacy-Only, Supplementary Products and Unrestricted OTC pharmaceuticals); By Number of Main and Franchise Pharmacies; and By Federal States; By Online Sales

Contact Us: –
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249