China Pharmacy Market Analysis

China Pharmacy Market Analysis


$ 3999

China Pharmacy Market is projected to grow from $xx Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022 - 2030. Pharmacy market is growing due to the increasing number of people suffering from diseases, increasing aging population, growing number of prescriptions and technological advancements like electronic health records (EHRs), pharmacy automation systems, medication dispensing technologies, medication therapy management (MTM) platforms and digital health solutions like E- pharmacy which offer advantages including privacy and confidentiality, free shipping, savings, a shorter purchase process, and a variety of deals. Additionally, it is predicted that the increased use of digital technology by the healthcare sector, rising smartphone penetration, and rising numbers of retailers launching online channels would all contribute to the segment's growth. CVS Health, Boots Walgreens, Cigna, Walmart, Kroger, Rite Aid Corp., Lloyd Pharmacy, Well Pharmacy, Humana Pharmacy Solutions and Matsumoto Kiyoshi are the key global market players in pharmacy market.

ID: IN10CNPH374 CATEGORY: Pharmaceuticals GEOGRAPHY: China AUTHOR: Dr. Netal Patel

Buy Now

China Pharmacy Market Analysis Summary

China Pharmacy Market is valued at around $63074.1 Mn in 2022 and is projected to reach $144312.3 Mn by 2030, exhibiting a CAGR of 10.9% during the forecast period 2023-2030.

The market growth is being positively impacted by the quick expansion and modernization of existing pharmacies to boost market penetration. For instance, Rite Aid Corp. established two new shops in 2020, moved five others, and finished remodeling existing ones, resulting in 1,826 renovated stores for the 2020 fiscal year. The retail pharmacy is defined as the independent avenue that provides branded and generic medicines to the public with or without a prescription. The increase in the retail chains in the pharmacy has helped in the integration of many healthcare components that will increase the purchasing convenience of drugs and other products to the customer. To improve patient safety and offer quick and accurate services to their patients, retail and hospital pharmacies are quickly using various automation systems. E-prescribing, point-of-sale applications, bar code verification, robotic dispensing, automated pill counting, interactive voice response systems, and automated prescription pick-up all make extensive use of automation systems. 84.0% of hospital pharmacies have automated dispensing cabinets in place or plan to, according to a Pharmacy Purchasing and Products survey on pharmacy automation equipment conducted in 2019. Additionally, pharmacies are adopting various digitalization programs to cater to the growing consumer demand and form a profitable business model. Pharmacies are providing various patient care services and introducing various initiatives to promote medication sales. A 2019 article in the National Community Pharmacy Association (NCPA) Digest reported that 77% of pharmacies provided medication therapy management, 76% provided flu vaccinations, 69% provided vaccinations for conditions other than the flu, 57% monitored blood pressure, and 56% provided compounding services. Moreover, collaborative drug therapy agreements were offered by 39% of pharmacies, diabetes training by 33%, ostomy supplies by 32%, smoking cessation by 23%, patient education classes by 16%, asthma management by 13%, and weight management by 11%. Pharmacies are implementing cutting-edge tactics for a variety of tasks, including filling prescriptions. For instance, to meet the demand for prescription deliveries, Walgreens Boots Alliance established micro-fulfillment centers. The retail pharmacy segment held the highest revenue share in the past years. Apart from dispensing a prescription, retail pharmacies are also offering vaccination services and health management services. ePharmacy is estimated to be the fastest-growing segment during the forecast period. CVS Health, Boots Walgreens, Cigna, Walmart, Kroger, Rite Aid Corp., Lloyd Pharmacy, Well Pharmacy, Humana Pharmacy Solutions, and Matsumoto Kiyoshi are the key global market players in the pharmacy market

Market Dynamics

Market Growth Drivers

Increasing number of people suffering from diseases, increasing aging population, growing number of prescriptions, and technological advancements like electronic health records (EHRs), pharmacy automation systems, medication dispensing technologies, medication therapy management (MTM) platforms, digital health solutions like E- pharmacy, rising healthcare costs, changing disease profiles, innovative marketing strategies, surge in the construction of hospital-based pharmacies and wellness centers and rising government funding. All these factors are market growth drivers.

Market Restraints

Regulatory Constraints, rising drug costs, reimbursement challenges, drug shortages, changing consumer behavior, and supply chain complexities act as market growth restraints.

Competitive Landscape

Key Players

  • CVS Health
  • Boots Walgreens
  • Cigna
  • Walmart
  • Kroger
  • Rite Aid Corp.
  • Lloyd Pharmacy
  • Well Pharmacy
  • Humana Pharmacy Solution
  • Matsumoto Kiyoshi

Notable Deals in the Pharmacy Market

In June 2021, Medly Pharmacy, a digital pharmacy, announced its plans to acquire Pharmaca, a pharmacy chain to expand its presence in thirty different markets.

In May 2021, PharmEasy, an online pharmacy, acquired Medlife, an ePharmacy, to gain a higher market share and expand its presence in the industry. With this acquisition, PharmEasy holds 60% to 70% of the ePharmacy market in India.

In January 2021, AmerisourceBergen and Walgreens Boots Alliance entered into a strategic alliance. Walgreens Boots Alliance Healthcare Business was acquired by AmerisourceBergen, enabling it to increase its focus on growing its retail pharmacy business.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Market Segmentations For sexy Pharmacy Market

By Type

  • Online
  • Offline

By Drug Type

  • Generic
  • Over-the-counter (OTC)
  • Patented

By End-Users

  • Equipment Retail
  • Drug Retail
  • Health Products Retail
  • Chemical Medicine Retail
  • Medicinal Materials Retail
  • Proprietary Chinese Medicine Retail
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

To request a free sample copy of this report, please complete the form below.


We value your inquiry and offer free customization with every report to fulfil your exact research needs.


This report addresses

  • Intelligent insights to take informed business decisions
  • Qualitative, acute and result oriented market analysis
  • Market size and forecasts from 2022 to 2030
  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
  • Strategic Recommendations to chart future course of action
  • Comprehensive Market Research Report in PDF and PPT formats

Need more?

  • Ask our analyst how this study was put together to learn more
  • Discuss additional requirements as part of the free customisation
  • Add more countries or regions to the scope 
  • Get answers to specific business questions 
  • Develop the business case to launch the product
  • Find out how this report may influence your business revenue
Last updated on: 27 February 2024
Updated by: Dr. Purav Gandhi

Related reports (by category)


Related reports (by geography)


subscribe to our newsletter
up