Pharmacy Retailing in the UK | Verdict Sector Report
LONDON, Dec. 21, 2015 /PRNewswire/ --
Summary
The UK pharmacy market has continued its recovery in 2014, increasing its estimated value by 2.1%, the fastest rate of growth since 2010. This has been driven by the OTC market, which grew nearly 4%, outperforming the larger NHS receipts component. The OTC market has been lifted by improvements in consumer confidence, with people more willing to spend on self-care, health and wellbeing.
Key Findings
- Understand the impact on pharmacy retailing of the Boots/Walgreens merger and how it will increase competitiveness in the sector
- Use the detailed data and insight on the market, including NHS receipts and OTC, to help form an effective growth strategy
- Idenitfy the opportunities to grow business in this sector by comparing strategies of the key players in the market and their performance metrics
- Learn how the UK's ageing population and rising obesity levels will impact the market, allowing you to develop product ranges that are better targeted
Synopsis
The longer-term trend toward reclassification of medicines from prescription only to P category and from P to GSL has continued, supporting pharmacy growth outside the prescription market. As the government seeks to limit NHS budgets and promote self-care, the outperformance of OTC relative to NHS prescriptions is expected to continue.
The end of the 100-hour control of entry exemption, which had been a significant driver of growth in pharmacy numbers, has begun to have an impact on the market, with far more marginal growth in numbers in 2014. Pharmacy numbers have grown by nearly 20% in 10 years, increasing competition, particularly from smaller operators, including the grocers.
The pressure on NHS budgets is likely to continue over the next five years and this will mean that pharmacy's core prescription medicines business will grow only slowly in value if not in volume. The NHS is increasingly looking at using pharmacies to increase its cost effectiveness as well as extending their role in promoting healthy living.
Reasons To Buy
- What are the factors that will impede or maxmise future growth opportunities and sales in pharmacy retailing?
- Which retailers are gaining market share, and which are struggling to protect their share and why?
- How are grocers and local GPs threatening pharmacy specialists and how can retailers deal with these threats and increase customer loyalty?
- What impact is government strategy having on the market and how can this be managed to ensure success?
- What services are pharmacy specialists investing in, and will these release pressure on GP's and emergency care providers?
Download the full report: https://www.reportbuyer.com/product/3468682/
About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
http://www.reportbuyer.com
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: [email protected]
Tel: +44 208 816 85 48
Website: www.reportbuyer.com
SOURCE ReportBuyer
Share this article