COMPREHENSIVE UK PHARMACY MARKET OVERVIEW
Christie & Co has published its latest pharmacy market review in which the business adviser looks at the events that shaped the pharmacy sector throughout 2021 and the first half of 2022... and it makes for interesting reading!
n its latest review, Christie & Co looks at how the sector is adapting after what it describes as two ‘challenging years’, which were dominated by the COVID-19 pandemic.
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The company noted that, while the challenges the pandemic presented have now more or less dissipated, the sector still faces some legacy issues, in part because of the pandemic, but also because of structural changes in the deployment of pharmacists across the wider primary care sector.
On a positive note, however, the company stated that the sector is not only adapting but is, in some cases, developing in the aftermath.
‘Over the last year,’ Christie & Co states in the review, ‘we have witnessed many pharmacy contractors keen to expand their businesses both through acquisition and the development of additional services. As a result, the market has continued to see positive activity, something we reported in our Business Outlook 2022 publication, which also noted that pharmacy prices bounced back from an almost static level in 2020 to record a 4.3 per cent increase in 2021. We are pleased to report that this trajectory has continued, mirroring that of the previous year, with appetite across all aspects of the market. The resilience the sector has shown over the last two years has resulted in little impairment or distress. However, the sector, like many, faces several headwinds that may create a more challenging trading environment in the short-term.’
Market composition In the review, Christie & Co looked at the current UK market composition and highlighted the fact that it has remained practically the same as in previous years, with supermarkets maintaining their market share and larger corporate pharmacy chains witnessing the greatest declines due to closure programmes and continued divestment.
According to the review, as of 31 March 2022, there were 14,370 registered pharmacy premises across the four country regions of the UK.
Other market statistics include: • The General Pharmaceutical Council confirmed that 360 pharmacies were removed from the register over the course of the twelve months to March 2022
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