Independent Pharmacies Australia (IPA) has announced a significant 9.1% growth based on like-for-like pharmacy sales year-on-year in 2024. The notable uptick follows a strategic reorganisation designed to better support its network of circa 1,100 member pharmacies across the country.
In addition, IPA’s key year-on-year data reveals:
- Retail sales (middle and front of shop) experienced a 6.7% increase over the same period.
- IPA outperformed the market by 3.1 percentage points in both middle-of-shop and front-of-shop categories (Pharmacy Market Report provided by Circana MAT to 22 December 2024)
According to Steven Kastrinakis, Managing Director of IPA, 2024 signaled an opportunity for IPA to provide strong support for pharmacy members within the IPA network. “The last year has been a rewarding one for our Advantage Pharmacies, Alliance Pharmacies, Chemist Discount Centres, Pharmacy Catalyst members, and other independent pharmacies that we support. We’ve worked closely with all our members to minimise the 60DD impact and seize opportunities through full scope of practice and the 8CPA strategy implementation,” Steven Kastrinakis said. “Our focus to support independent pharmacies at the forefront of healthcare has driven significant sales growth. Most notably, data provided by Circana shows we’ve outperformed the market by 3.1 percentage points in both middle-of-shop and front-of-shop categories.” he said.
Setting up independent pharmacies for success in 2025
In early 2024 to coincide with the business’ development goals, IPA refreshed its strategy, including a rebrand from The Platform Alliance Group to highlight its stronger commitment to independent pharmacies across Australia.
Steve Kastrinakis further added “Last year, IPA’s focus was on unifying our member and streamlining our operations to enhance technology, health programs, and marketing efforts,”
“The IPA rebrand sets the stage for us to better amplify the incredible work our pharmacies do through new marketing tools, platforms, and campaigns. We’re pleased to confirm that our new range and pricing strategy has delivered strong results, with the health category growth seeing a 6.8% increase over the past 12 months, compared to the industry average of 3.7% (Circana Australia Pharmacy report, MAT to 22 December 2024). This is a remarkable achievement, especially given the ongoing changes within the industry.” he said.
According to IPA’s Executive Director, Michael Flannery, 2025 will be a pivotal year for IPA and the pharmaceutical industry more broadly, with demand for affordable, accessible healthcare continuing to rise, signaling a need for point-of-care testing to meet these growing needs.
“2025 offers independent pharmacies the opportunity to fully integrate the full scope of practice into their services. Our sales results show that independent pharmacies play a critical role in providing primary care to their communities, and it’s essential that we evolve with the growing health needs of Australians,” he said.
At APP2025, IPA looks forward to showcasing this point-of-care solution developed in partnership with Arrotex – offering results from pharmacies that have participated in the pilot program. This will be shared at both the Plenary Session on Thursday 20 March at 11.50am-12.35pm and in information sessions at the IPA and Arrotex stands in the main exhibition hall.