The Australia pharmacy retail market was valued at USD 28.86 Billion in 2025 and is expected to grow at a CAGR of 8.50%, reaching USD 65.25 Billion by 2035. The market growth is supported by a well-established healthcare infrastructure and a strong presence of major pharmacy chains. Growing consumer preference for online and home delivery services, along with increasing awareness of self-medication and wellness products, is expected to drive market expansion. Technological adoption in pharmacy operations further enhances efficiency and customer experience during the forecast period.
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Historical Period
Forecast Period
According to the Australian Institute of Health and Welfare, the rising burden of cardiovascular disease, accounting for nearly 12% of total disease burden in 2024, is significantly driving pharmacy retail market growth in Australia.
In December 2023, Sigma Healthcare announced a USD 5.8 billion merger with Chemist Warehouse, creating an Australian USD 8.8 billion entity. This consolidation is expected to strengthen pharmacy retail networks and significantly boost Australia’s pharmacy retail market growth.
The pharmacy retail market in Australia is experiencing strong competition, expanded service offerings, and digital integration, which are collectively enhancing accessibility, strengthening customer loyalty, and significantly contributing to overall market growth.
Compound Annual Growth Rate
8.5%
Value in USD Billion
2026-2035
*this image is indicative*
Pharmacy retail encompasses the sale of prescription and over-the-counter medications, health products, and wellness services through physical and online stores. This sector plays a vital role in healthcare delivery, offering accessible pharmaceutical services to the public. The market was valued at USD 28.86 Billion in 2025. Key drivers include an aging population, increasing healthcare awareness, and rising demand for over-the-counter (OTC) medications and health products. Technological advancements, such as e-prescriptions and telepharmacy services, are enhancing accessibility and convenience for consumers. Government initiatives and subsidies are improving affordability and encouraging the expansion of pharmacy services across the country.
Rising Diabetes Prevalence to Drive the Growth of the Pharmacy Retail Market in Australia
The increasing prevalence of diabetes is a significant driver of growth in the market. In April 2025, research from the University of Sydney revealed that the number of Australians living with diabetes is likely to be 35% higher than previously estimated, potentially affecting more than two million individuals. This underlines a rising demand for medicines, medical devices, and diabetes-related products such as insulin, testing strips, and syringes, which pharmacies are key distributors of. As diabetes management requires consistent access to treatment and monitoring tools, this growing patient base is expected to accelerate the expansion of the pharmacy retail market in Australia.
The market is experiencing notable trends, such as a stronger emphasis on prescription accessibility and affordability, along with the growing adoption of electronic prescriptions.
Increasing Focus on Prescription Accessibility and Affordability to Enhance the Market Landscape
The focus on improving accessibility and affordability of prescription medicines is a growing trend in healthcare markets. Policymakers are adopting reforms that reduce patient costs while streamlining pharmacy services. For example, in Australia, the government’s introduction of a 60-day dispensing policy in April 2023 allows eligible patients with stable conditions to receive double the usual quantity of medicines per prescription. According to a report commissioned by the Pharmacy Guild of Australia in June 2023, this move significantly enhances convenience and affordability for patients. At the same time, it signals a structural change for pharmacies, prompting adjustments in business models and service delivery to balance reduced dispensing revenues with evolving consumer expectations.
Rising Adoption of Electronic Prescriptions is Likely to Australia Pharmacy Retail Market Demand
The increasing adoption of electronic prescriptions (e-scripts) is shaping a key trend in the market. E-scripts enhance medication accessibility, reduce errors, and provide patients with greater flexibility through SMS, email, or pharmacy apps. For instance, Priceline Pharmacy has expanded e-script services across all its stores, allowing patients to manage prescriptions digitally and even arrange home deliveries. Such advancements highlight the digital shift in pharmacy retail, which is expected to significantly boost market growth in the coming years.
Chain Pharmacies to Lead the Market Segmentation by Category
By category, the market is segmented by category into chain pharmacies and independent pharmacies. Both segments contribute significantly to medicine distribution and healthcare accessibility across the nation. However, chain pharmacies are expected to dominate, supported by extensive store networks, competitive pricing, and stronger consumer trust. Notably, in November 2024, the Australian Competition and Consumer Commission (ACCC) approved the merger of Chemist Warehouse and Sigma Healthcare, creating a USD 8.8 billion pharmaceutical giant with nearly 1,000 retail stores. This development highlights the growing strength of chain pharmacies, which are likely to remain the primary growth driver in the country’s retail pharmacy market.
The key features of the market report comprise funding and investment analysis, and strategic initiatives by the leading players. The major companies in the market are as follows:
Founded in 2000 in Melbourne, Chemist Warehouse has grown into Australia’s largest—and now publicly listed—discount pharmacy chain. With over 540 stores across Australia and New Zealand, it is known for aggressive pricing strategies and a heavy emphasis on non-prescription health, wellness, and beauty products—items that account for roughly 70% of its revenue, compared to 27% at rivals. Its recent AUD 8.8 billion merger with Sigma Healthcare, approved by the ACCC has created an enormous retail distribution network of 880+ stores, combining Chemist Warehouse outlets and Sigma-aligned franchises.
A well-established Australian health and beauty retailer, Priceline launched its first Priceline Pharmacy outlet in 2002, evolving alongside its larger beauty brand. Now part of Wesfarmers-owned Australian Pharmaceutical Industries, it operates over 480 stores nationally, including more than 400 with pharmacy services. In late 2024, Priceline Pharmacy unveiled a refreshed brand identity—updating its iconic pink logo to include a heart-shaped cross—to reinforce its focus on combining community pharmacist expertise with a health-and-beauty shopping experience.
Formed from a 2016 merger between Terry White Chemists and Chemmart, TerryWhite Chemmart is now Australia’s largest pharmacy chain, with over 600 community pharmacies nationwide and more than 2 million members in its loyalty program. The chain recently moved into retail media by launching TWC Connect, a digital advertising network powered by Zitcha technology, allowing targeted, personalized marketing across its store network and digital channels.
In Australia, Cigna Health primarily operates in the health insurance and international medical coverage space rather than as a pharmacy retailer. Through its global health insurance offerings—including its “Global Health Options” plans—it provides coverage for medical and pharmacy costs for expatriates, students, retirees, and globally mobile individuals in Australia, with benefits like outpatient drug coverage, telehealth, and direct billing with many providers. Unlike the others, Cigna’s role is as an insurer facilitating access to pharmacy services—not a retail provider of medicines.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the market include Amcal.
The market report offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Product Type
Market Breakup by Mode of Purchase
Market Breakup by Category
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Product Type |
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| Breakup by Mode of Purchase |
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| Breakup by Category |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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