Pharmaceutical and Toiletry Goods Wholesaling in New Zealand - Industry Market Research Report

Natural immunity: Industry maintains revenue growth despite inflation, logistics and currency woes

Pharmaceutical and toiletry goods wholesalers are facing significant challenges due to the COVID-19 pandemic, a challenging supply chain environment and weakening consumer spending power caused by high inflation. Despite these challenges, revenue is rising at an annualised 1.1% over the five years to 2022-23, to $6.4 billion, as wholesalers are passed on increased logistics costs and consumers are increasing spending on preventative health and wellbeing products. Despite a dip during lockdowns and restrictions demand for veterinary services is growing, driving industry sales in veterinary pharmaceuticals. However, revenue is declining by 1.8% in 2022-23, as pandemic-related demand for pharmaceutical products declines and real household discretionary incomes dip slightly. Industry companies wholesale human pharmaceuticals, medicines, cosmetics, perfumes and toiletries. The industry also includes companies that wholesale veterinary drugs or medicines. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.