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Thailand

Photo of Royal Palace Roof in Bangkok Thailand

Featured image: Photo by Vitalijs Barilo on Unsplash

Thailand: a strategic OTC and pharma market in the heart of Asia 

Thailand is located strategically in the middle of Asia and has sustained exponential growth of its self-medication 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 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 their 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 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

5-6%

OTC and pharma market growth

Thailand in numbers

Total population

Male/Female

Population growth

Birth rate

Mortality rate

Life expectancy

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