Key Note Report: Moderate Growth Predicted for Community Pharmacies

According to market analyst Key Note, long-term pressure on the NHS with increased patient demand, local pharmacies are now expected to do more to help ease the burden on the NHS but with the same level of funding.
 
TEDDINGTON, U.K. - Sept. 2, 2015 - PRLog -- According to a new Market Update entitled Retail Pharmacies, published by market intelligence provider Key Note, the UK retail pharmacies market increased in value by 1.6% in 2014.

The National Health Service (NHS) is under long-term financial pressure as a result of the expanding and ageing population and general practitioner (GP) services are struggling to cope with the increased patient demand. The Government introduced national initiatives to promote self-care and improve access to over-the-counter (OTC) medicines and it wants to expand the duty of community pharmacies to help ease the burden on the NHS.

Community pharmacies are undertaking a greater amount of work and are encouraged to provide additional services with the same level of funding paid by the Government. Community pharmacies receive up to 90% of their income by providing NHS services such as dispensing medicines, promoting public health and providing advice on minor ailments. In the 2015/2016 pharmacy contract, the NHS required all pharmacy contractors to deliver efficiencies of at least 4% for the health service they provide. Funding pressures on the NHS will continue over the next few years. It is unlikely that community pharmacies will receive new funding from the NHS for the extra work they carry out.

As a result of these factors, Key Note forecasts a moderate growth of 1.8% for the UK retail pharmacies market in 2015.

Ends

Press enquiries: Adam Pembrey at Key Note at apembrey@keynote.co.uk or 0845 504 0452. Press/review copies of the report are available on request.

Notes to editors:

Key Note’s 2015 Market Update, Retail Pharmacies, analyses the pharmacy market in the UK.

Key Note Ltd has been providing commercially relevant market information to libraries, academia and businesses since 1978. With over 1,000 titles available across 22 market sectors, and new or updated titles published every month, Key Note is one of the UK’s most prolific and respected business information providers. Within the range, some reports are written in response to particular market conditions, whereas other reports will be produced regularly year on year.

Key Note’s 2015 Market Update, Retail Pharmacies, is available to purchase from Key Note on 0845-504 0452, by e-mail at sales@keynote.co.uk or at www.keynote.co.uk, priced £575.

Media Contact
Adam Pembrey
apembrey@keynote.co.uk
08455040452
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