Thailand: a strategic Rx and Consumer Healthcare market in the heart of Asia
Thailand is located strategically in the middle of Asia and has sustained exponential growth in its Consumer Healthcare and Rx market, making it an important market in South-East Asia to consider.
Thailand – officially the Kingdom of Thailand—is a magnificent country that expands more than 500,000 km2 into Southeast Asia, with coasts on the Andaman Sea and the Gulf of Thailand. It borders Myanmar to the northwest, Laos to the northeast, Cambodia to the southeast, and Malaysia to the south. This is a strategic location right at the heart of Asia – what is regarded today as the largest growing economic market.
Thailand Healthcare market:
The Thai Consumer Healthcare and Pharma, food supplements, and medical device markets will keep developing in the country at the rate of 6-7% in the next few years. The country is among the contemporary pioneers of medical tourism on the entire continent, receiving over a million foreign patients each year in more than 1300 hospitals. In 2018, Thailand’s total healthcare expenditure was around 3,79% of its total GDP. It is expected to rise to 5,5% in the next few years. The OTC & Pharma Market should reach USD 9,1 Billion ex-factory in 2035.
OTC and Rx market:
With a population of almost 70 million, Thailand has become a pacesetter in the region when it comes to implementing universal healthcare systems and being a medical tourism destination. Thailand is also pushing for the improvement of R&D projects and innovations in the healthcare field. The Thai consumer health and pharma market is expected to reach more than USD 9,1 billion by 2035.
If you are planning on entering Thailand, our expertise and long-standing network can help you. The CPC Group has extensive OTC and pharma expertise in South East Asian markets, and we would be thrilled to help you to take advantage of the golden opportunities this region has to offer!
The Thai OTC and pharma market in 2035
USD 9,1 Billion
OTC and pharma market size, ex-factory
OTC and pharma market growth
Thailand in numbers
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