Dispensing Chemists in Ireland - Market Research Report (2013-2028)
London, United Kingdom
Last Updated: October 2023
SIC G47.730IERevenue
€3.5bn
Past 5-Year Growth
Profit
€XXX.Xm
Employees
17,514
Businesses
1,672
Wages
€XXX.Xm
Dispensing Chemists in Ireland industry analysis
Dispensing Chemists distribute pharmaceutical products to consumers, meaning they play an essential role in the Irish healthcare system. Retail and community pharmacies sell over-the-counter medicines, provide professional advice and perform basic medical testing. Increasing competitive pressure from supermarket pharmacies and own-brand medicine has shifted consumption patterns towards in-house supermarket chemists, meaning some dispensaries have struggled to maintain healthy profitability.
Trends and Insights
- Regulations create intense pricing pressure. The Health (Pricing and Supply of Medical Goods) Act 2013, has introduced a generic substitution and reference pricing system. Since branded drugs cost four to six-and-a-half times more than generic equivalents, the act has slashed dispensing chemist revenue.
- Over-the-counter medicine sales have benefitted from there being few alternatives. The 2015 Emergency Medicines Legislation allows trained pharmacists to administer specific prescription-only medicines to a person in an emergency, boosting the market size.
- Adding this sentence because I can't submit the report otherwise.
- Consolidation activity raises market shares. LNX and LloydsPharmacy Ireland have acquired small pharmacies to boost their shares.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 1.1 % over the past five years, to reach an estimated €3.5bn in 2023.
Trends and Insights
The Health Act 2013 intensified pricing competition among chemists
- The 2013 Act established a list of branded products that generic (own-brand) products could substitute.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Community pharmacies will have an increasingly important role in primary care
- Community pharmacies will act as the first port of call for chronic patients and provide simple medical services (e.g. childhood immunisation programmes) to the broader community as the Irish population becomes more fragile.
Biggest companies in the Dispensing Chemists in Ireland
| Company | Market Share (%)
2023 | Revenue (€m)
2023 |
|---|---|---|
Boots Retail (Ireland) Ltd | 244.4 | |
LloydsPharmacy Ireland Ltd | 110.7 | |
LXV Remedies Holdings Ltd | 91.1 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Prescription-only pharmaceuticals , Pharmacy-only pharmaceuticals and General sales list. Prescription-only pharmaceuticals is the largest segment of the Dispensing Chemists in Ireland.
Trends and Insights
The Health Act 2003 and prescription subsidies hinder prescription-only pharmaceutical sales
- Prescription-only products must be prescribed by qualified health professionals like GPs and nurses and dispensed under the supervision of a pharmacist. Examples include antibiotics, anxiety and antidepressant medication and blood thinners.
- More insights available in the full report
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Competitors
- There are no industries to display.
Complementors
- Pharmaceutical Preparations Manufacturing in Ireland
- Pharmaceutical Wholesaling in Ireland
- General Medical Practices in Ireland
International industries
- Pharmacies & Drug Stores in the US
- Compounding Pharmacies in the US
- Institutional Pharmacies in the US
- Pharmacies & Drug Stores in Canada
- Pharmacies in Australia
Table of Contents
About this industry
Industry definition
Operators in the industry dispense and retail pharmaceutical goods via community pharmacies and chemists. Pharmacies also provide other Health Services Executive (HSE) services and sell over-the-counter medications and health-related products. This industry does not include non-health-related products or in-store supermarket pharmacies.
What's included in this industry?
Prescription-only pharmaceuticalsPharmacy-only pharmaceuticalsGeneral sales listDelivery services, consultation and other productsCompanies
Boots Retail (Ireland) LtdLloydsPharmacy Ireland LtdLXV Remedies Holdings LtdPurchase this report to view all 3 major companies in this industry.
Related Terms
PRESCRIPTION MEDICINESPHARMACY-ONLY MEDICINESGENERAL SALES LIST (GSL) MEDICINESOVER-THE-COUNTER (OTC) MEDICINESBIOLOGICAL MEDICINEBIOSIMILAR MEDICINEIndustry Code
SIC 47.73 - Dispensing Chemists in Ireland
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Regulations create intense pricing pressure. The Health (Pricing and Supply of Medical Goods) Act 2013, has introduced a generic substitution and reference pricing system. Si...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Over-the-counter medicine sales have benefitted from there being few alternatives. The 2015 Emergency Medicines Legislation allows trained pharmacists to administer specific ...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2023
- Product innovation level
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Adding this sentence because I can't submit the report otherwise.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each region in 2023
- Number and share of revenue each region accounts for in 2023
- Number and share of wages each region accounts for in 2023
- Number and share of employees in each region in 2023
Detailed analysis
- Geographic spread of the industry across Europe, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Consolidation activity raises market shares. LNX and LloydsPharmacy Ireland have acquired small pharmacies to boost their shares.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Only Boots Retail (Ireland) accounts for more than 5% of total revenue. Many Irish pharmacies are small, independent operators with only one establishment or a local presence...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Boots Retail (Ireland) Ltd's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of LloydsPharmacy Ireland Ltd's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of LXV Remedies Holdings Ltd's performance by revenue, market share and profit margin from 2017 through 2023
Detailed analysis
- Description and key data for Boots Retail (Ireland) Ltd, and factors influencing its performance in the industry
- Description and key data for LloydsPharmacy Ireland Ltd, and factors influencing its performance in the industry
- Description and key data for LXV Remedies Holdings Ltd, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The PCRS reimbursemes chemists for public services. Approximately 80% of all community-dispensed medicines are through the publicly funded PCRS.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit has come under pressure from higher sales of generic drugs. The imposition of the 2013 Health (Pricing and Supply of Medical Goods) Act and the Medicines Management Pr...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Ireland include:
- Central Statistics Office
- Department of Enterprise, Trade and Employment
- Irish Tax & Customs
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Dispensing Chemists industry in Ireland in 2024?
The market size of the Dispensing Chemists industry in Ireland is €3.5bn in 2024.
How many businesses are there in the Dispensing Chemists in Ireland industry in 2023?
There are 1,672 businesses in the Dispensing Chemists industry in Ireland, which has declined at a CAGR of 0.2 % between 2018 and 2023.
Has the Dispensing Chemists industry in Ireland grown or declined over the past 5 years?
The market size of the Dispensing Chemists industry in Ireland has been declining at a CAGR of 1.1 % between 2018 and 2023.
What is the forecast growth of the Dispensing Chemists industry in Ireland over the next 5 years?
Over the next five years, the Dispensing Chemists industry in Ireland is expected to grow.
What are the biggest companies in the Dispensing Chemists market in Ireland?
The biggest companies operating in the Dispensing Chemists market in Ireland are Boots Retail (Ireland) Ltd, LloydsPharmacy Ireland Ltd and LXV Remedies Holdings Ltd
What does the Dispensing Chemists in Ireland include?
Prescription-only pharmaceuticals and Pharmacy-only pharmaceuticals are part of the Dispensing Chemists industry.
Which companies have the highest market share in the Dispensing Chemists in Ireland?
The company holding the most market share in Ireland is Boots Retail (Ireland) Ltd.
How competitive is the Dispensing Chemists industry in Ireland?
The level of competition is high and increasing in the Dispensing Chemists industry in Ireland.
