Pharmacy Health Product Sales Continue to Decline

According to the latest data, the sales scale of Chinese physical pharmacies and online pharmacies reached RMB 716.9 billion yuan (USD $110.6 billion) in 2020, up 12.5% year-on-year, based on the average retail price of terminals. From the perspective of the structure of Chinese physical pharmacies by category, the sales ratio of health care products in 2020 was 6.6%, down 0.8 percentage points from 2019, with a further decline in sales scale. The shrinking of medical insurance personal accounts and payment restrictions reduced the attractiveness of consumers to go to medical insurance designated pharmacies, which brought challenges to the traditional operation model of retail pharmacies. In contrast, online nutrition and health product consumption exhibited rapid growth. (Source: shuzhengkangxun)