Killing off the chemist

 In Australia, NewZealand, Pharmacy
It’s a David versus Goliath scenario. Small independent pharmacies up against the might of discount chemist chains.
Will it be a battle to the death? Or will there be enough market space for both to share?
There are 5250 community pharmacies in Australia and 12 per cent of those are completely independent, according to research firm IBISWorld.
But these independents are expected to gradually be "forced out of the industry", IBISWorld researcher Arna Richardson says in her January 2014 report Pharmacies in Australia.
Richardson points to an increasingly competitive industry due to the introduction of low-cost warehouse-style pharmacies coupled with proposed changes to the Pharmaceutical Benefits Scheme by the federal government, which could effect pharmacies’ revenue.
Australia’s pharmacy industry is worth $12.2 billion, with annual growth of 1.6 per cent in the five years to 2014. But Richardson predicts growth will slow to 1.2 per cent in the next five years.  Sydeny Morning Herald – Read more…

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