艾昆纬-SEA药房零售行动手册：管理层需要解决的市场塑造因素（英）-2023

WhitePaperSE

APharmac

yRetailPlaybook:

Market-ShapingFac

tors

for

Managementto

AddressAKRIM

JANTARAPRAPA,Associate

PrincipalStrategy

&ManagementConsulting,IQVIA

SEA

andAPACRHQRIJUL

BHARDWAJ,Associate

PrincipalStrategy

&ManagementConsulting,IQVIA

SEA

andAPACRHQTable

of

contentsIntroduction23Retail(pharmacy)outpacinghospitalchannelsinmost

SEA

marketsKeyfactorsshapingpharmacymarketthatoperatorsandbrandownersmustaddressFactor

1:

Understand

therisingprevalenceofe-pharmacyFactor

2:

Recognisetheimportant

rolespharmacists

still

haveinthe

marketFactor

3:Know

what

consumerslookforwhen

decidingwhichpharmaciestovisitFactor

4:Identify

wheredemandisconcentratedandfocusonthe

rightplaceFactor

5:Optimisepotentialthroughtechnologiessuchasadvancedanalytics

andAI/MLConclusion668991112121313About

IQVIAAbouttheauthorsAcknowledgmentIntroductionThepharmaceuticalmarket

in

SoutheastAsia(SEA)hasgonethroughfundamentalshifts,

underpinnedbythepost-pandemicimpactandeconomicuncertainties.Undeniably,

thepharmacyretaillandscapeisalsoevolvingwithchangesin

consumerbehaviours,technologicalinnovation,andtheincreasingfinancial

burdenassociatedwitheconomicuncertainties.Inthisreport,IQVIA

presentsan

overviewofthecurrentstateofSEA’spharmacyretaillandscape.We

willalsoexplorekey

market-shaping

factorsthatmanagementsmustbeawareofto

winin

thisever-evolvinglandscape.

|

2Retail(pharmacy)outpacinghospitalchannels

in

mostSEA

marketsInmost

countries,sales

acrosspharmacieshavegrownat

afaster

pacethansales

throughthe

respectivehospital

channels(Figure1).

Pharmacy

sales

growthinMalaysia,Thailand,andVietnam

hasbeen

rangingbetween

lowandmid-singledigits

inthe

past

decadeandhasresultedinan8%

—11%

compoundannualgrowth

rate(CAGR)from

2020to2022sincethepandemic.Inthe

Philippines,sales

acrosspharmaciesgrewinthe

lowsingledigits,

whilenegative

growthoccurredacrosshospital

channels.Notethatthe

highgrowth

ofSingapore’shospital

channelwaslargelydriven

byoncology;

nevertheless,

aminorchannellikethe

retail

channelcontributed~90%

ofthecountry’soverallpharmasales.The

pharmacy

retail

marketinmost

SEA

countriesisgrowinginimportance,

accountingfor~55%ofthe

pharmamarketinourfocusSEA

countriesofIndonesia,Malaysia,thePhilippines,Singapore,Thailand,andVietnam.

In2022,theretail

channelcontributedtoover90%

oftotal

pharmasales

inSingaporeandthe

Philippines,~70%

inMalaysia,closeto~50%

inThailandandIndonesia,and~35%inVietnam.Figure1:

Historicalgrowthofretailandhospitalpharmasalesandvalueofretailsales(MAT

Q32020

-22

%CAGR,

billionUSD)14Malaysia121.41082.1

ThailandVietnam1.1Singapore2.16424.1Phillipines0-2-4-61.6

Indonesia-3-2-1012345678910

11

12

13

14

15

16

17

18

19

20HistoricalCAGR(Hospital)Sizeofbubblereflects2022retailsalesMATQ3:Moving

Average

Totalending

SeptemberSource:

IQVIA

MIDASAtthe

heightofthe

pandemic,retail

pharmacieswerewidely

leveragedfordispensingdrugstodispensingat

physicalpharmaciescontinuestobeencouragedbygovernments,

the

expandingservicesofpharmacies,andthe

growingconsumerpreferencetoapproachpharmaciesforthe

treatmentofminorailments(Figure2).patients

followingteleconsultations/hospital

visits.This

trendhasbeen

observed

acrossSEA

marketsandisset

tocontinueduetothreekeydrivers

—3

|

SEA

Pharmacy

Retail

Playbook:

Market-ShapingFactors

for

Management

toAddressFigure2:

DriversofshiftindispensingtoretailpharmaciesGovernmentinitiativesencouragingpharmacydispendingExpandingvalue-addedservicesatpharmacyGrowingconsumerpreferenceforpharmacies•

Increasedcollaborationbetweenpublichospitalsandlocalpharmaciesformedicinepickupsatthenearestpharmacies•

Pharmacynetwork’sgrowingcapabilityandprovidingvalue-addedservices(patienteducation,chronicdiseasemanagementservices)•

Increasingawarenessofservicesbypharmaciesamongconsumers•

Growingpatientfootfallatpharmaciesduetothereluctanceonthepartofmanypatientstovisithospitalsandclinics•

Dispensingoflong-termprescriptionsforchronicpatients•

AccommodatingdoctorconsultationcounterwithinpharmacypremisesforminorailmentsforminorailmentsFlags

indicates

relevant

drivers

for

the

marketsSource:

IQVIA

Well

TrackReport

(2020

to

2022)We’veseenatransferofvaluefromhospitalandclinicsintopharmacy.Ithinkconsumers,arenowmorecomfortablethantheywerepre-pandemicpurchasingfromapharmacyPeopleweren’tbeingseenathospitalsfornormalillnesses—itwasCOVIDonly.Andso,asaresultwesawabigchangeinthebehaviourofchronicpatients.WesawaswitchoutofhospitalstoretailpharmacyRetail

industry

expert(Singapore)Pharmacy

chain

executive(Vietnam)

|

4Thailandgovernmentisencouragingmoredispensingfromcommunity

pharmaciestoreduceovercrowdinginhospitals

anduse

pharmacists

toprovideadditionalservices.

Driven

bythepandemic,retail

pharmaciesinSingaporeareincreasinglydispensinglong-termprescriptionsforchronicpatients.supplements,

vitamins,

andimmunity

boosters,allofwhichcan

be

readilypurchasedat

pharmacies,isoutpacing

otherpharmaceuticalproductcategories(Figure3).Figure3:Historicalgrowthandsalesofpreventivecareproducts(vitamins,mineralsupplements,tonics,andvaccines)InMalaysia,community

pharmaciesaretaking

onresponsibilitiesbeyonddrug

dispensingtoprovidevalue-added

services

suchasmedicationcounselling,homemedication

reviews,

andmedication

therapyadherenceclinics.Similarly,theroleofpharmaciesandpharmacists

inthePhilippinesandVietnamisexpandingbeyonddrug

dispensing,with

theprofessionincreasinglyinvolvedininitiatives

designedtoimprovethesafe

andrationaluse

ofmedications.PreventivecaresalesGrowth

of

preventive

carevs.(MATQ32022,USDM)

pharma(MAT

Q32018-22,

CAGR)Preventivecare

Pharma4428%4%1%1%3%6%6%3012432131804%Preventive

caregrowthhaveoutpacedoverallpharmagrowth,evenbefore8%3%pandemicPeoplehavealsobecomemoreawareoftheirhealthandwell-being.

There

hasbeen

ashift

towardsprioritisingpreventive

healthcareovercurativemeasures.This

includesanemphasisonwellnessandhealthyliving,

aswellasgreateraccesstovaccinesandotherpreventive

treatments,

andagrowingtrendtowardsself-medication.

As

such,thepurchaseofover-the-counter(OTC)medications,

health10%7%63Preventive

caremedication

includes

Vitamins,Supplements,

Tonics

and

VaccinesSource:

IQVIA

MIDAS5

|

SEA

Pharmacy

Retail

Playbook:

Market-ShapingFactors

for

Management

toAddressKey

factorsshaping

pharmacymarket

thatoperatorsandbrand

ownersmustaddressFactor

1:

Understand

the

risingprevalence

of

e-pharmacyonlinesales

platforms

anddelivery

services

tooffer

greaterconvenienceandaccessibility

totheircustomers

andcompetingwith

new

e-pharmacyentries

(Figure4,

5).Telemedicineande-pharmacy

started

toemergeandgainmomentumasthe

pandemicdisruptedthe

traditionalpatientjourney.With

advancementsintechnologyinnovationandInternetpenetration,e-pharmacies

arebecomingincreasinglypopularinSEA,

asmorepeopleareturningtoe-pharmaciesandonlineplatforms

fortheirhealthcareneedscomparedtothe

pre-pandemic

period

(Figure4).This

trendistransformingtheretail

pharmacysector,with

traditionalpharmaciesexpandingtoRetail

pharmaciesmust

stay

adaptableandcontinuetoinnovatetomeet

the

evolving

needs

oftheircustomers.

The

competitionbetween

traditionalpharmaciesande-pharmacies

iscreatingamorediverse

andcompetitive

marketplace,ultimatelybenefiting

patients

byoffering

themmoreoptionsforaccessinghealthcareservices.Figure4:

Consumers’

most

preferred

methods

forpurchasingmedicationsandhealthcareproducts(N=500)(N=500)(N=1000)Pre-CovidPost-CovidPre-CovidPost-CovidPre-CovidPost-Covid3%Increasingconsumer4%4%5%7%7%preference

fore-pharmaciesand

onlinechannels19%16%22%22%10%27%16%34%16%9%10%69%9%69%65%60%Physical

storeswith

on-sitepharmacistsremain

asdominantchannel49%45%Wave

1=

Before

Mar

2020

(Before

Covid-19),

Wave

3=

Sep

2022PhysicalstorevisitOrderviaphoneOrderonline/websiteOrderviae-pharmacyapps/3rdpartyplatformsSource:

IQVIA

Well

TrackReport

(2020

to

2022)

|

6Figure5:Internetpenetrationandprevalenceofe-pharmaciesinSEAInternet

penetration(2023)Telemedicine+e-pharmacyPharmacy

chain

online(selected)store(selected)Guardian,WatsonsDoctorAnywhere,WhiteCoatDoctoroncall,MyDoc96.9%96.8%85.3%77.0%73.1%Caring,AlproWatsons,BootsRaksa,MordeeHalodoc,Alodokter,GoapotikHealthNow,NowServing,MedGrocerKimiafarmaMobile,GuardianMercuryDrug,SouthstarDrugSource:

Wearesocial,

IQVIA7

|

SEA

Pharmacy

Retail

Playbook:

Market-ShapingFactors

for

Management

toAddressFactor

2:Recognise

the

important

rolespharmacists

still

have

in

the

marketDespitethe

growingpreferenceforonlinepurchases,onsitepharmacists

remainmajorinfluencersforpatients

inSEA

andarewidely

viewed

astrustedsourcesofhealthcareadvice.

Fear

ofnotreceivingthe

rightdrugsfortheircondition(s)andnotgettinggenuineproducts

arestill

amongthe

biggest

factorsthatpreventmost

consumersfrom

embracingonlinepurchases.By

continuingtoemphasisethe

valueofpharmacists’guidanceandadvice

topatients

onmedicationsanddelivering

customer-centriccare

andvalue-addedservices,

retail

pharmaciescan

continuetomeet

theevolving

needs

oftheircustomers

andsucceedinthecompetitive

landscape.Figure6:Challengesfacedbyconsumerswhenmakingonlinepurchasesofmedicationsorhealthcareproducts(Sep2022)(N=500)(N=500)(N=1000)(N=1000)Products/medicaladvicesrelatedchallengesamongtopconcernsProductmaynotbegenuine49%44%31%43%34%23%24%26%25%31%Notentirely

sureif

theproductssuitmyneedLackofrecommendationfromdoctors/pharmacistsConfused

with

manysellers

withdifferent

prices

forthesameproduct25%26%35%21%31%33%23%23%21%25%On-sitepharmacistsplayinfluentialrolebyprovidingguidanceandadvicetopatientsonhowtousemedicationsafelyandNeedto

paydeliveryfee31%23%15%29%26%Longwaiting

time

for

the

deliveryProblems

with

delivery

17%Can’tbuyinalargestock

13%13%18%12%effectively12%10%10%9%11%10%6%Usemany

plasticbags

duringshipping

6%14%9%Neverbought

anyhealthcare11%products

and/or

medicineonlineNochallenge

4%5%6%Source:

IQVIA

Well

TrackReport

(2020

to

2022)

|

8Factor

3:Know

what

consumers

look

forwhen

deciding

which

pharmacies

to

visitStrikingthe

rightvaluepropositionthataddressesconsumers’

decision-makingiskeytowinningtheraceforcustomers’

foottraffic.

With

manychannelsandstore

optionsavailable,consumersaredriven

bymultiplekeyfactors

when

decidingwhichpharmaciestovisit.

Based

onconsumersurveys

conducted

acrossmajorcities

inThailandandMalaysia(Figure7),priceandassortment

rangesareratedasrelativelyimportant

forboth

markets.

Additionally,Thailandconsumersvaluereputable

pharmacy

brandsmore.The

store

ambienceandassortment

rangearealsosignificant,

indicatingthatconsumerspreferwell-organisedandwell-stocked

pharmacieswith

awiderangeofproducts.Figure7:Consumerretailpurchasebehaviour—Keydecisionfactors(MalaysiaandThailand,2022)Key

decision

factor

average

scoring

ofimportance

(5

=

most

important)Price543LocationRetailer’sbrand21AdditionalserviceofferingStoreambienceAssortmentrangeSource:

IQVIA

Pharmacy

retail

urban

area

consumer

survey

(2022)Factor

4:Identifywhere

demand

isthe

top~15%

to25%ofpharmacies(Figure8).Byunderstanding

the

importance

ofdifferentpharmaciesinthe

market,retailer

operatorsandbrandownersalikecan

prioritise

theirefforts

andresourcestomaximisetheirsales

potentialandbetter

serve

theircustomers.

Vice

versa,

focusingefforts

onthe

wrongstores

mayleadtoundesirableresults.concentrated

and

focus

on

the

right

placeAlthough

the

levelofdemandconcentrationvariesfordifferentOTCs,consumerhealthproduct

orpersonal

care

categories,

thegeneralpattern

isthatapproximately~80%

ofthetotal

marketdemandforeachcategory

isgenerallyconcentratedamongonly9

|

SEA

Pharmacy

Retail

Playbook:

Market-ShapingFactors

for

Management

toAddressFigure8:

Exampleofdemandconcentrationofpharmacystoresbyselected

productcategories(Thailand,

FY2022)Market

potential

concentration

curve–Anti-allergy%

ofmarket

potential

(by

counting

units)1009080706050403020100556065707580859095

10005101520253035404550Cumulativenumber

ofpharmacy

stores

(%)Marketpotentialconcentrationcurve–Anti-acne%

of

marketpotential(bycountingunits)100908070605040302010005101520253035404550556065707580859095100Cumulativenumber

ofpharmacy

stores

(%)Marketpotentialconcentrationcurve–Antiulcerant%

of

marketpotential(bycountingunits)100908070605040302010005101520253035404550556065707580859095100Cumulative

number

of

pharmacy

stores

(%)Source:

IQVIA

Drug

Distribution

Data,

IQVIA

analysis

|

10Factor

5:

Optimise

potential

through

technologies

such

as

advanced

analytics

and

AI/MLPlanninginventory

andmarketingefforts

acrosshundredsandthousands

ofpharmacy

stores

isadauntingtask,andweareseeingmoreoperatorsandbrandowners

turn

toartificial

intelligence(AI)/machine

learning(ML)forsolutions.

AI/ML

havenumerousapplications,includingdemandforecasting

andinventory

managementat

boththe

regionalandoutlet

levels.

With

moreaccurateforecasting,

the

incidenceofstockouts

isminimised.This

isespeciallyimportant,

asstockouts

can

leadtorevenueloss

andlowercustomer

satisfaction.AI/ML

USE

CASES

BYPHARMACIES

IN

SEACase

study:

AI/ML

driven

demandforecasting

model

by

Pharma

Plus

ThailandCase

study:

AI

-

powered

inventorymanagement

by

PharmacityObjectiveObjectivePharmacyPlus,a

leadingpharmacychaininThailand,plannedtooptimizeitsinventorymanagementthroughanAIandMLdrivendemandforecastingmodelin2019Pharmacity,a

leadingpharmacychaininVietnam,aimedtooptimizeitsinventorymanagementprocessestoimproveitssupplychainefficiency,reducecosts,andenhancecustomersatisfaction,in2022ImplementationImplementation•PharmacyPlusutilizesAIandMLalgorithmsinIntelligentDemandForecastingandInventoryManagement(iDFIM)systemtopredictmedicationdemandbasedonhistoricalsalesdata,••Pharmacityleveragedadvancedanalytics,ML,andAItoanalyzesalesdata,demandpatterns,andotherfactorsforaccuratedemandforecastingandinventoryreplenishmentdemographics,seasonality,anddiseaseoutbreaks•ThesystemanalyzesdatafromPharmacyPlusstoresacrossThailandtogeneratereal-timedemandforecastsforeachmedication,optimizinginventorylevelsforoptimalstockavailabilityThesolutionautomatedandoptimizedkeyinventorymanagementprocesses,integratedwithexistingsystems,providingreal-timevisibilityintoinventorylevels,demand,

andsupplierperformanceOutcomeOutcome••Significantreductionininventoryvalue••Loweredinventorycarryingcostsbyupto30%Increasedlike-forlike-salesbydoubledigitsinpilotstoresthroughimprovedproductavailabilityImprovedmedicationavailabilityandreducedstockoutsSource:

Pharmacy

Plus,

Bangkok

PostSource:

Pharmacity,

RelexSolutions11

|

SEA

Pharmacy

Retail

Playbook:

Market-ShapingFactors

for

Management

toAddressConclusionAboutIQVIASEA’spharmaceuticalandconsumerhealthmarketswillcontinuetoevolve,and,undeniably,pharmacyretail

channelswillcontinuetogrowinimportance.To

win

inthispharmacy

space,operatorsandbrandowners

alikewillneed

todeliveravaluepropositionthatdemonstrates

aclearunderstanding

ofmarketdynamics

andconsidersboth

globaltechnologyevolution,consumerpreferencesandbehaviourdynamics

uniquetotheSEA

region.Strikingtherightbalancewillplaceoperatorsandbrandowners

inagood

positiontowin

inthismarket.IQVIA

(NYSE:IQV)

isaleadingglobalproviderofadvanced

analytics,

technologysolutionsandclinicalresearchservices

tothe

lifesciencesindustry

dedicatedtodeliveringactionable

insights.With

regionalheadquarters

inSingaporeandofficesin15

countries,IQVIA

Asia

Pacificprovides

technology-enabledservices

andsolutionstomeet

the

growingandrapidlychangingneeds

ofclients,

both

localandmultinational,operatinginAsia

Pacific.IQVIAiscommitted

toadvancinghealthcarebyofferingevidence-based

insightsanddeep

domainexpertiseinthoughtleadership,with

the

aimofimprovingunderstanding

andacceleratinginnovationwithin

thehealthcareecosystem.

To

learnmore,visit

/locations/asia-pacific

|

12AbouttheauthorsAKRIM

JANTARAPRAPARIJUL

BHARDWAJAssociate

PrincipalStrategy&ManagementConsulting,Associate

PrincipalStrategy&