Thailand Healthcare (Pharma and Medical Devices) Market Analysis, Regulatory, Reimbursement and Competitive Landscape
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Thailand Healthcare Market Report Overview
The Thailand pharmaceutical market size was $6.4 billion in 2021. Thailand’s pharmaceutical industry is Southeast Asia’s second-largest pharmaceutical market, after Indonesia. Thailand’s medical devices market size was $6.3 billion in 2020. Thai medical services are well-known across the world owing to its robust medical foundation, which includes high-quality medical services, competent healthcare workers, and a diverse variety of internationally approved medical facilities.
Thailand Pharmaceuticals Market Outlook, 2021 ($ Billion)
To gain more information on the Thailand pharmaceutical market forecast, download a free report sample
Thailand Medical Devices Market Outlook, 2020 ($ Billion)
To gain more information on Thailand medical devices market forecast, download a free report sample
Market size (2021) (Pharmaceutical) | $6.4 billion |
Forecast Period | 2022-2026 |
Key Segments | Generics, Biologics, Biosimilars, and Over-the-Counter (OTC) |
Key Export Partners | Vietnam, Myanmar, Cambodia, Japan, and the Philippines |
Key Import Partners | China, Germany, the US, Belgium, and India |
Major Players | Pfizer, Sanofi, Novartis, GlaxoSmithKline (GSK), and F. Hoffmann-La Roche Ltd. (Roche) |
Market size (2020) (Medical Devices) | $6.3 billion |
Forecast Period | 2021-2025 |
Key Segments | Reagents & Test Kits, Durable Medical Devices, And Single-Use Devices |
Major Players | Fresenius, Abbott, GE Healthcare, Hoya, and Nipro |
Thailand Pharmaceuticals Market Dynamics
The rise in non-communicable diseases like heart disease, diabetes, and cancer; the aging population; a universal healthcare system; the developing medical tourism business; greater foreign investments; and a favorable climate for clinical drug trials are contributing to the pharmaceutical market’s expansion.
The Thai government plans to implement various initiatives over 10 years (2016–25) to help Thailand reach the status of “Thailand, a Hub of Wellness and Medical Services” and develop into a medical center in four main areas: wellness, medical services, academics, and commodities. Moreover, the Thailand government’s supportive policies and BOI incentives will provide a suitable investment environment and opportunities for scientific studies and clinical R&D, which will result in significant growth in a wide range of medical and healthcare businesses.
Thailand Pharmaceuticals Market Segmentation by Export and Import Partners
The key export partners in the Thailand pharmaceutical market are Vietnam, Myanmar, Cambodia, Japan, and the Philippines. Vietnam accounts for the highest percentage of the export business. The key import partners in the Thailand pharmaceutical market are China, Germany, the US, Belgium, and India. China accounts for the highest percentage of the import business.
Thailand Pharmaceuticals Market by Segments
The key segments in the Thailand pharmaceuticals market are generics, biologics, biosimilars, and over-the-counter (OTC). In July 2021, the Thai FDA approved the over-the-counter purchase of COVID-19 antigen test kits that can only be sold by authorized medical institutions, medical clinics, medical technology clinics, and pharmacies with a registered pharmacist on staff.
Thailand Pharmaceuticals Market -Competitive Landscape
Some of the major players in the Thailand pharmaceuticals market are Pfizer, Sanofi, Novartis, GlaxoSmithKline (GSK), and F. Hoffmann-La Roche Ltd. (Roche).
Thailand Pharmaceuticals Market Analysis by Players, 2021 (%)
To know more about major players in the pharmaceuticals market, download a free report sample
Thailand Medical Devices Market Dynamics
Thai medical services are well-known across the world owing to its robust medical foundation, which includes high-quality medical services, competent healthcare workers, and a diverse variety of internationally approved medical facilities.
Thailand’s policies give the strategic direction required to improve the country’s status as a regional medical hub. For instance, the government’s “eHealth plan 2017-36” aspires to establish Thailand as a worldwide medical hub. A solid foundation of health-related businesses, growing demand for health services, and favorable investment and tax benefits for medical device investors and importers, among other factors, together contribute to Thailand’s status as the “Medical Hub of Asia.“
Thailand Medical Devices Market by Segments
The key segments in the Thailand medical devices market are reagents & test kits, durable medical devices, and single-use devices. Single-use devices have the highest share in the market. The Thai government and BOI support the medical device industry by offering investments and additional incentives. The major incentive provided by BOI is the exemption of Corporate Income Tax (CIT).
Thailand Medical Devices Market Analysis by Segments, 2020 (%)
For more medical devices market segment insights, download a free report sample
Thailand Medical Devices Market - Competitive Landscape
Some of the major players in the Thailand medical devices market are Fresenius, Abbott, GE Healthcare, Hoya, and Nipro.
Thailand Medical Devices Market Analysis by Players, 2020 (%)
To know more about the major market players in the medical devices market, download a free report sample
Scope
The report provides information on the healthcare, regulatory, and reimbursement landscape in Thailand, and includes:
- An overview of the pharmaceutical and medical device markets, comprising market size, segmentation, and key drivers and barriers.
- Profiles and SWOT analyses of the major players in the pharmaceutical market: Pfizer, Sanofi, Novartis, GSK, and Roche.
- Profiles and SWOT analyses of the major players in the medical device market: Fresenius, Abbott, GE Healthcare, Hoya, and Nipro.
- An insightful review of the COVID-19 epidemiology, COVID-19 impact, and developments in the healthcare market, HealthTech landscape, reimbursement, and regulatory landscape, with analysis covering details of the country’s healthcare reimbursement process, regulatory agencies, and the approval processes for new drugs and medical devices.
- Detailed analysis of the country’s healthcare policy highlights, demographics, healthcare infrastructure, and healthcare expenditure.
- An overview of the opportunities for and challenges to growth in the Thailand healthcare market
Reasons to Buy
- This report will enhance your decision-making capability by allowing you to:
- Develop business strategies by understanding the trends shaping and driving Thailand’s healthcare market
- Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical market segments, and companies likely to impact Thailand’s healthcare market in the future
- Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing competitors’ performance
- Organize your sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment, and strategic partnership
Table of Contents
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Frequently asked questions
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What was the Thailand pharmaceuticals market size in 2021?
The pharmaceuticals market size in Thailand was valued at $6.4 billion in 2021.
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What are the key segments in the Thailand pharmaceuticals market?
The key segments in the Thailand pharmaceuticals market are generics, biologics, biosimilars, and over-the-counter (OTC).
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Who are the key export and import partners of the Thailand pharmaceuticals market?
The key export partners in the Thailand pharmaceuticals market are Vietnam, Myanmar, Cambodia, Japan, and the Philippines. The key import partners in the Thailand pharmaceutical market are China, Germany, the US, Belgium, and India.
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Which are the major players in the Thailand pharmaceuticals market?
Some of the major players in the Thailand pharmaceuticals market are Pfizer, Sanofi, Novartis, GlaxoSmithKline (GSK), and F. Hoffmann-La Roche Ltd. (Roche).
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What was the Thailand medical devices market size in 2020?
The medical devices market size in Thailand was valued at $6.3 billion in 2020.
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What are the key segments in the Thailand medical devices market?
The key segments in the Thailand medical devices market are reagents & test kits, durable medical devices, and single-use devices.
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Which are the major players in the Thailand medical devices market?
Some of the major players in the Thailand medical devices market are Fresenius, Abbott, GE Healthcare, Hoya, and Nipro.
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