The chain rate continues to increase
In 2010, the number of chain pharmacies in my country accounted for only 34.34%, which increased to 55.34% in 2019. There are two reasons for the year-by-year increase. First, From the perspective of government supervision, supervision will continue to become stricter, and penalties will increase the costs of small and medium-sized pharmacies. Under the influence of policies such as volume-based purchasing, the bargaining power of small and medium-sized pharmacies is weak, and the same-store growth rate is even negative. Second, chain retail companies generally have competitive advantages such as strong capital strength, refined management, and strong bargaining power. They are ahead of other small and medium-sized pharmacies in terms of licensed pharmacists, funds, manufacturer resources, and supply chain capabilities.
Development Trend 1: The speed of mergers and acquisitions is accelerating
The rising expansion costs have promoted the concentration of advantages of leading companies. The development ceiling of small and medium-sized chains and independent pharmacies is obvious, and the industry will usher in a rapid increase in concentration. , judging from the overall growth of more than 20% for listed retail pharmacies, the increase in concentration is the core factor for the growth of the retail pharmacy industry. Compared with the United States and Japan, the concentration of my country's pharmaceutical retail industry is low. In 2019, the top 3 chain pharmacies in the United States owned more than 30% of the number of pharmacies and contributed more than 80% of sales. The sales of the top 10 chain pharmacies in Japan Accounting for 70% of the industry market share.
Looking back at my country, in 2019 China's TOP
The number of 10 chain pharmacies only accounted for 9.3% of the total number of pharmacies, and their sales accounted for only 22%. As a result, my country's pharmaceutical retail industry There is still huge room for improvement in concentration. As taxation and Food and Drug Administration management become more and more standardized, industry concentration increases, and small and medium-sized chain pharmacies are integrated by leading chain companies with standardized operations. The pharmaceutical retail industry will become more standardized and promote the healthy development of the industry.
Development trend two: accelerating online layout
Minei.com data shows that in 2019, the sales volume of China's physical pharmacies and online pharmacies (including drugs + non-drugs) reached 662 billion yuan, of which , the sales proportion of physical pharmacies has been declining year by year, with a growth rate of 3.23% in 2019; online pharmacies have developed rapidly, with their sales proportion increasing from 1.18% in 2013 to 18.90% in 2019, with a compound annual growth rate of 2013-2019 The rate was 75.37%, and the growth rate exceeded 95% in 2016 and 2017. It can be seen that e-commerce business has had a certain impact on offline store sales, and in the future, with the advancement of regulatory policies, technological advancement, and further changes in consumer consumption habits, small and medium-sized pharmacies that have not yet deployed pharmaceutical e-commerce will be subject to greater impact. impact.
B2C third-party platforms are still the main channels for pharmaceutical e-commerce, including Tmall Medical, JD Medical, Pinduoduo, Pharmacy.com and other platforms. As of 2020, each of the four platforms has online pharmacies. 578, 602, 1114, 1382; B2C platform product categories are mainly medicines, of which Tmall Medical Hall medicines account for 69.25%, and JD.com medicines account for 78.59%.
As offline stores face declining gross profit margins and reduced customer traffic, retail pharmacies should actively deploy online business in four major scenarios: medical consultation, remote diagnosis and treatment, online drug purchase, and health management. Explore more business opportunities, expand business areas, use online traffic to divert offline traffic, and ultimately form an online + offline closed-loop development.
——For more detailed research and analysis of this industry, please refer to the "Market Forecast and Investment Strategic Planning Analysis Report of China's Chain Pharmacy Industry" by the Qianzhan Industry Research Institute.