Singapore Pharmacies and Drug Stores Market (2024-2030) | Growth, Value, Size, Forecast, Trends, Share, Industry, Revenue, Companies, Analysis & Outlook

Singapore Pharmacies and Drug Stores Market Synopsis

The Singapore Pharmacies and Drug Stores market is anticipated to register a compound annual growth rate (CAGR) of 6.5% during the forecast period 2020-2026. The market has been growing significantly in recent years due to the increasing healthcare expenditure, rising geriatric population, and improved access to medicines through e-pharmacy stores as well as online platforms.

Market Drivers

Growing demand for generic drugs: Generic drugs are gaining popularity due to their low cost and effectiveness compared to branded medications. This is expected to drive the demand for pharmacies & drug stores in Singapore over the forecast period.Increasing prevalence of chronic diseases: The incidence of lifestyle-related chronic diseases such as diabetes, hypertension, stroke, ETC, is escalating rapidly in this region owing primarily to changing dietary habits coupled with a sedentary lifestyle among people in various age groups. This factor will boost the sales of pharmaceutical products at pharmacies & drug stores across Singapore over the coming years.

Market challenges

Stringent regulations regarding importation & sale of pharmaceuticals: In order to protect public health from substandard quality medication or counterfeit drugs entering into circulation among consumers, regulatory authorities have imposed strict rules on imports/sale/distribution/pricing of medicines that may hamper pharma retail business growth opportunities in Singapore over time.

Key players

Key players operating in this market include Guardian Health & Beauty Pte Ltd., Watsons Personal Care Stores Pte Ltd., Unity Healthcare Pte Ltd., GNC Asia Pacific Holdings Pte Ltd., DKSH Holding AG, Aeon Wellness Pvt Ltd.

Covid-19 Impact

Due to COVID 19 pandemic situation there was increase medical supplies especially masks, gloves hand sanitizers which resulted high demand for these items causing shortages. This affected pharma supply chain.Also government initiatives like providing subsidies on medical treatments caused influx patients who could not afford treatment before leading rise pharmacy revenues. However, closedowns and restrictions posed by governments also impacted drugstore revenue adversely.

Key Highlights of the Report:

• Singapore Pharmacies and Drug Stores Market Outlook
• Market Size of Singapore Pharmacies and Drug Stores Market, 2023
• Forecast of Singapore Pharmacies and Drug Stores Market, 2030
• Historical Data and Forecast of Singapore Pharmacies and Drug Stores Revenues & Volume for the Period 2020-2030
• Singapore Pharmacies and Drug Stores Market Trend Evolution
• Singapore Pharmacies and Drug Stores Market Drivers and Challenges
• Singapore Pharmacies and Drug Stores Price Trends
• Singapore Pharmacies and Drug Stores Porter's Five Forces
• Singapore Pharmacies and Drug Stores Industry Life Cycle
• Historical Data and Forecast of Singapore Pharmacies and Drug Stores Market Revenues & Volume By Drug Type for the Period 2020-2030
• Historical Data and Forecast of Singapore Pharmacies and Drug Stores Market Revenues & Volume By Prescription Drugs for the Period 2020-2030
• Historical Data and Forecast of Singapore Pharmacies and Drug Stores Market Revenues & Volume By OTC Drugs for the Period 2020-2030
• Historical Data and Forecast of Singapore Pharmacies and Drug Stores Market Revenues & Volume By Type for the Period 2020-2030
• Historical Data and Forecast of Singapore Pharmacies and Drug Stores Market Revenues & Volume By ?Community Pharmacy for the Period 2020-2030
• Historical Data and Forecast of Singapore Pharmacies and Drug Stores Market Revenues & Volume By Hospital Pharmacy for the Period 2020-2030
• Historical Data and Forecast of Singapore Pharmacies and Drug Stores Market Revenues & Volume By Clinical Pharmacy for the Period 2020-2030
• Historical Data and Forecast of Singapore Pharmacies and Drug Stores Market Revenues & Volume By Industrial Pharmacy for the Period 2020-2030
• Historical Data and Forecast of Singapore Pharmacies and Drug Stores Market Revenues & Volume By Compounding Pharmacy for the Period 2020-2030
• Historical Data and Forecast of Singapore Pharmacies and Drug Stores Market Revenues & Volume By Consulting Pharmacy for the Period 2020-2030
• Historical Data and Forecast of Singapore Pharmacies and Drug Stores Market Revenues & Volume By Ambulatory Care Pharmacy for the Period 2020-2030
• Historical Data and Forecast of Singapore Pharmacies and Drug Stores Market Revenues & Volume By Others for the Period 2020-2030
• Singapore Pharmacies and Drug Stores Import Export Trade Statistics
• Market Opportunity Assessment By Drug Type
• Market Opportunity Assessment By Type
• Singapore Pharmacies and Drug Stores Top Companies Market Share
• Singapore Pharmacies and Drug Stores Competitive Benchmarking By Technical and Operational Parameters
• Singapore Pharmacies and Drug Stores Company Profiles
• Singapore Pharmacies and Drug Stores Key Strategic Recommendations