The pharmaceutical market in the Republic of Moldova continues to be dominated by a few major companies, which are consolidating their positions through significant increases in turnover and market share. In 2023, the ranking of the largest pharmaceutical companies in the country remained relatively stable, with notable changes in percentage increases and market dynamics.
The Dita Estfarm Group and Farmacia Familiei (DT+FF) remain the largest pharmaceutical company in the Republic of Moldova, recording a turnover of 238,68 million EUR in 2023. This performance keeps it at the top of the ranking, consolidating its position as a market leader, bani.md reports.
In second place is the Felicia Group, which reached a turnover of 167,28 million EUR. The constant growth of this company allows it to remain an important player in the pharmaceutical market in Moldova, thanks to the acquisition of two pharmacy networks.
Tetis (Hippocrates) is in third place with a turnover of 119,34 million EUR. Although its growth rate is more modest, the company maintains a solid presence in the industry.
Other companies of note, such as Orient and Elody, while not reaching the turnover figures of the leaders, remain relevant in the market but with more modest performances. Orient posted a turnover of 65,79 thousand EUR, and Elody – EUR 54.57 thousand.
Compared to 2022, DT+FF recorded a significant increase in turnover, from MDL 4.20 billion to MDL 4.68 billion in 2023, representing an absolute increase of MDL 472.76 million, or about 11.25%.
Felicia Group grew from MDL 2.97 billion in 2022 to MDL 3.28 billion in 2023, reflecting an increase of 10.39%, or 24,11 million EUR.
Tetis (Hippocrates) had a more modest increase, from MDL 2.25 billion in 2022 to MDL 2.34 billion in 2023, a percentage increase of 4.29%, or 4,92 million EUR.
Orient was one of the few companies that saw a decrease in turnover, from MDL 1.45 billion in 2022 to MDL 1.29 billion in 2023, an absolute decrease of 7,87 million EUR, or 10.65%.
In market share, Dita Estfarm and Family Pharmacy (DT+FF) consolidated their leading position, increasing from 31.89% in 2022 to 33.50% in 2023.
The Felicia Group increased its market share from 22.54% in 2022 to 23.49% in 2023, consolidating its secondary position.
Tetis (Hippocrates) had a slight decrease in market share from 17.06% in 2022 to 16.80% in 2023, indicating a stagnation in its ability to increase the pace of expansion.
On the other hand, Orient lost significant market share, falling from 10.99% in 2022 to 9.27% in 2023, confirming the declining trend also observed in turnover.
Elody had a market share of 7.72% in 2023 compared to 7.84% in 2022, registering an insignificant decrease.
The pharmaceutical market in the Republic of Moldova is dominated by a few major players, with Dita and Farmacia Familiei leading the way. Felicia Group and Tetis (Hippocrat) remain major competitors with different growth rates. While Felicia has seen solid growth, Tetis has experienced relative stagnation.
In contrast, Orient Pharmacy struggles with turnover and market share, indicating it may need to reassess its strategy.
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As for the sales of pharmacy networks, they continued to record significant sales, the market leader being Farmacia Familiei, which reported sales of RON 1.9 billion, with 224 pharmacies in the network. It amounts to approximately 8.5 million lei in annual sales per pharmacy.
In second place in the ranking is the Felicia Group, which includes the sub-networks Peon, Salutб, and Birovifam (Felicia), with total sales of 1.526 billion lei in its 312 pharmacies or 4.8 million lei per pharmacy, taking the major risk of opening pharmacies in villages. Despite Felicia Group having a smaller market share per pharmacy in comparison to Farmacia Familiei, with average annual sales of 4.8 million lei per pharmacy, the Felicia Group remains a major player.
Tetis (Hipocrat) is in third place, with sales of RON 885.5 million and 177 pharmacies, with average annual sales per pharmacy of RON 5 million.
Orient, with 537.5 million lei in 93 branches, has annual sales of 5.7 million lei per pharmacy.
Elody completes the top with 99 pharmacies and sales of 377.7 million lei, corresponding to 3.8 million lei per pharmacy.
Farmacia Familiei is at the top of the list with 709.2 thousand lei monthly sales per pharmacy. Orient stands out with monthly sales per pharmacy of 481.6 lei per month, higher than many of its competitors, despite its narrower network, placing second. Tetis (Hippocrate) had sales per pharmacy of 416.9 thousand lei, ranking third. Although Felicia Group has an extensive presence with 312 pharmacies, sales per pharmacy per month amounted to 407.7 thousand lei per month. Elody, with monthly sales per branch of 317.9 thousand lei per month, is close to the top 5 players in the market.
These figures reflect a dynamic pharmaceutical market with intense competition, where the leaders are trying to maintain their positions by expanding their networks and optimizing sales per unit.
In conclusion, after analyzing the pharmacy networks in Moldova, the ranking based on sales per pharmacy (branch) presents a different picture from the overall ranking based on total turnover.
The Moldovan pharmaceutical market is becoming increasingly concentrated among a few key players, with clear trends toward consolidating dominant positions. It could intensify competition in the remaining market segments, especially as growth slows for some mid-tier companies.
Data source: National Bureau of Statistics of the Republic of Moldova