Australian Pharmaceutical Expenditure Tracker: Online share to grow to 13.6% by 2025
As of 2020, Australia has a $19.2bn pharmacy market which is expected to grow at a CAGR of 2.9% for the next 5 years, to $22.1bn by 2025.
The online market share of pharmaceutical revenue is forecast to increase from approximately 2% today to 14% in 2025, with a value of over $3.0bn. Despite this, pharmacies are likely to maintain their customer base, as around 75% of prescriptions are dispensed to those over the age of 50 (who will be less likely to go online). The total number of pharmacies is expected to grow at a slower pace, from 5,799 today to around 6,026 in 2025, but the average revenue per store is expected to rise from $3.3m in 2020 to $3.7m in 2025.
Now you can review our Australian pharmaceutical forecasts at a glance on our industry tracker.