TABLE OF CONTENTS

Summary
Methodology of Sector Studies
Study Restrictions

1. Introduction – General Information
1.1 Introduction
1.2 Regulatory Framework of the Sector
1.3 Key Sector Bodies
Appendix Chapter 1

2. The Demand for Pharmaceuticals
2.1 Factors that Shape Demand for Pharmaceuticals
2.2 Pharmaceutical and Healthcare Expenditure
2.3 Healthcare Services in Greece
2.4 Producer Price Indices for Pharmaceutical Products
2.5 Inflation Development
2.6 Disposable Income
2.7 Macroeconomic Environment
Appendix Chapter 2

3. Sector Supply
3.1 Structure and Breakdown of the Sector
3.1.1 Trends in the Number of Pharmacies
3.1.2 Key Structural Characteristics of Pharmacies
3.1.3 Pharmacy Workforce
3.2 Online Pharmacies
3.3 Pharmaceutical Supply Chain – Distribution Network
3.4 Overview of Pharmacy Network Companies
Appendix Chapter 3

4. The Domestic Pharmacy Market
4.1 Total Pharmacy Sales
4.2 Sales Breakdown
Appendix Chapter 4

5. International Market Data
5.1 Global Pharmaceutical Market
5.2 European Market Data
Appendix Chapter 5

6. Sector Strategic Analysis – Prospects
6.1 Analysis of the Competitive Environment
-Threat of New Entrants
-Threat of Substitute Products
-Bargaining Power of Suppliers
-Bargaining Power of Customers
-Competitive Rivalry within the Industry
6.2 SWOT Analysis
6.3 Conclusions – Sector Prospects
6.4 Proposals to Improve the Competitiveness of Sector Companies

Appendix I: Economic Overview
Appendix II: Balance Sheets of Sector Companies
Appendix III: List of Sector Studies carried out by the Department of Economic Research, ICAP CRIF S.A.

TABLES & GRAPHS

TABLES

App. Table 1.1 Members of the Panhellenic Pharmaceutical Association
App. Table 1.2 Indicative Regulatory Framework for Pharmacies
Table 2.1 Estimated Resident Population (2010-2025)
Table 2.2 Expenditure on Pharmaceuticals and Healthcare (2017-2025)
Table 2.3 Breakdown of Total Pharmaceutical Expenditure (2017-2024*)
Table 2.4 Breakdown of Private Pharmaceutical Expenditure (2019-2024)
Table 2.5 Breakdown of Industry Contribution (2024*)
Table 2.6 Trends in Producer Price Indices in Industry (2017-2026*)
Table 2.7 Trends in Consumer Price Indices (2017-2026*)
Table 2.8 Trends in Net National Disposable Income (2015-2024)
App. Table 2.1 Total Population Projections (2026-2100)
App. Table 2.2 Population Projections for the 65+ Age Group (2026-2100)
App. Table 2.3 Population Projections for the 75+ Age Group (2026-2100)
App. Table 2.4 Average Annual Expenditure on Pharmaceutical Products and Cosmetics by Age Group (in €, 2022)
App. Table 2.5 Average Annual Expenditure on Pharmaceutical Products and Cosmetics by Age Group (in €, 2023)
App. Table 2.6 Average Annual Expenditure on Pharmaceutical Products and Cosmetics by Age Group (in €, 2024)
App. Table 2.7 Estimated Resident Population by Sex and Age Group (2023-2025)
App. Table 2.8 Total Financing of Healthcare Expenditure (2020-2024)
App. Table 2.9 Financing from Funding Agencies to Healthcare Providers (2020-2024)
Table 3.1 Distribution of Newly Established Pharmacies by Establishment Period
Table 3.2 Number of Pharmacies (per 1,000 Inhabitants) by Region (2022-2024)
Table 3.3 Sales of Online Pharmacies (in €, 2016-2024)
Table 3.4 Overview of Pharmacy Networks
App. Table 3.1 Number of Pharmacists by Region (2022-2024)
App. Table 3.2 Number of Pharmacists (per 1,000 Inhabitants) by Region (2022-2024)
App. Table 3.3 Number of Healthcare Professionals in Greece (2023-2024)
App. Table 3.4 Sales Breakdown for Each Category by Product Subcategory (2024)
Table 4.1 Trends in the Value of Total Pharmacy Sales (in € thousand, 2005-2026*)
Table 4.2 Annual Changes in the Value of Pharmacy Sales (2020-2026*)
Table 4.3 Trends in Pharmaceutical Sales by Value and Volume (2010-2025)
Table 4.4 Monthly Pharmaceutical Sales (in €, 2016-2025)
Table 4.5 Trends in the Turnover Index for the Retail Trade of Pharmaceutical Products and Cosmetics (2010-2026*)
Table 4.6 Breakdown of Total Pharmacy Sales (2025)
App. Table 4.1 Sales of Non-Prescription Medicines (in € million, 2016-2025*)
Table 5.1 The Pharmaceutical Industry in Europe (2019-2025)
Table 5.2 Number of Pharmacies in European Countries (2025*)
App. Table 5.1 Top-Selling Pharmaceuticals in the Global Market (2024-2025)
App. Table 5.2 Leading Pharmaceutical Companies Worldwide by Sales (2024-2025)
Table 6.1 Forecast of the Domestic Pharmacy Market (in value, 2026-2028)

GRAPHS

Graph 1.1 Pharmaceutical Supply Chain
Graph 2.1 Resident Population Projections (2026-2100)
Graph 2.2 Breakdown of Public Pharmaceutical Expenditure (2024*)
Graph 2.3 Breakdown of Industry Contribution (2024*)
Graph 2.4 Trends in Total Pharmaceutical Expenditure (2017-2024*)
Graph 2.5 Trends in the Shares of Individual Categories in Total Pharmaceutical Expenditure (2017-2024*)
Graph 2.6 Shares of Funding Agencies in Total Healthcare Expenditure (2024)
Graph 2.7 Annual GDP Growth Rate (%) in Volume Terms in Greece (2011-2025)
Graph 2.8 Trends in Key Indicators for Greece and the EU-27 (2025-2027)
Graph 3.1 Trends in the Number of Pharmacies (2015-2024)
Graph 3.2 Distribution of Pharmacies by Legal Form (2026)
Graph 3.3 Number of Pharmacies by Region (2024)
Graph 3.4 Trends in the Number of Pharmacists (2020-2024)
Graph 3.5 Sales Breakdown by Product Category (2024)
Graph 3.6 Trends in the Number of Pharmacies Belonging to Two Organised Networks (2016-2025)
Graph 4.1 Trends in the Value of Total Pharmacy Sales* (€ thousand, 2017-2026*)
Graph 4.2 Breakdown of Total Pharmacy Sales (2025)
Graph 5.1 Trends in the Global Pharmaceutical Market (in value, 2016-2025)
Graph 5.2 Breakdown of Global Pharmaceutical Sales (2025)
Graph 5.3 Breakdown of the Retail Price of Pharmaceuticals in European Countries (2024)