Pharmacy Pulse Report Q3 2024

Analysis of the key trends in the Irish Community Pharmacy sector, prepared by Fitzgerald Power on a quarterly basis. Check it out here.

Irish Economy.

A combination of steady employment growth and real wage growth is expected to boost households’ real disposable incomes, underpinning continued consumption growth. Preliminary GDP estimates indicate that the economy grew in the third quarter of 2024, expanding by 2.0% quarter on quarter.

Inflation.

Euro area annual inflation rate was 1.7% in September 2024, down from 2.2% in August. A year earlier, the rate was 4.3%. EU annual inflation was 2.1% in September 2024, down from 2.4% in August.

IPU Calls for Expanded Role.

The Irish Pharmacy Union (IPU) is advocating for a more extensive role for pharmacies in community healthcare. The IPU propose expanding vaccine services, introducing chronic disease management, and offering oral contraception through pharmacists.

Global Economy.

Global growth is expected to remain stable but underwhelming. Emerging markets face challenges, including commodity disruptions and conflicts. In contrast, growth in Asia is bolstered by strong demand for semiconductors and AI-driven investments.

LloydsPharmacy Rebrands as McCabes.

McCabes Pharmacy rebranded their LloydsPharmacy, Ashleaf store in Dublin to McCabes Pharmacy, marking the beginning of a new era in community pharmacy care as McCabes Pharmacy expands its footprint with 112 stores employing 1,400 people. In the coming months, a further 79 pharmacies across Ireland will undergo rebranding across many counties.

Discover the Power of Benchmarking!

We have introduced additional data to our quarterly report related to our new Benchmarking Service. Now, you can assess your pharmacy’s performance and labour rates in comparison to pharmacies with similar turnovers within your sector and geographical location. Unlock your pharmacy’s full potential and maintain a competitive edge in your industry.

Get in touch to enquire and learn more here.