Thailand Pharmaceuticals & Healthcare Report

Providing expert analysis, independent forecasts and competitive intelligence on the pharmaceuticals and healthcare industry.

Report includes: BMI Industry View, Industry SWOT Analysis, Industry Forecasts, BMI's Pharmaceuticals and Healthcare Risk Reward Index, Market Summary, Economic Forecasts, Company Profiles and Competitive Landscape.

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  • Get a full view of the competitive landscape to assess your market position
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Thailand Pharmaceuticals & Healthcare Report
Product Price
$1,295.00

BMI View: Multinational drugmakers will continue to face a difficult business environment in Thailand. Designated as a 'Priority Watch List Country' for PhRMA's Special 301 submission for 2016, key issues highlighted in 2015 remain unaddressed. This includes low levels of intellectual property protection as well as a challenging procurement process that favours the Government Procurement Organization. Cost containment pressures will also become more acute as authorities seek to curb rising healthcare spending.

Headline Expenditure Projections

  • Pharmaceuticals: THB152bnbn (USD4.4bn) in 2015 to THB160bn (USD4.5bn) in 2016; +5.3% in local currency terms and +1.9% in US dollar terms.

  • Healthcare: THB614bn (USD17.9bn) in 2015 to THB655bn (USD18.5bn) in 2016: +6.7% in local currency and +-3.3% in US dollar terms.

Headline Pharmaceuticals & Healthcare Forecasts (Thailand 2014-2020)
2014 2015 2016f 2017f 2018f 2019f 2020f
f = BMI forecast. Source: WHO, National Sources, BMI
Pharmaceutical sales, USDbn 4.480 4.465 4.548 4.832 5.119 5.445 5.786
Pharmaceutical sales, % of GDP 1.11 1.13 1.15 1.14 1.13 1.12 1.11
Pharmaceutical sales, % of health expenditure 25.3 24.9 24.6 24.2 24.0 23.7 23.5
Health spending, USDbn 17.712 17.940 18.524 19.933 21.365 22.968 24.637

Risk/Reward Index

In Q216, Thailand remains ranked roughly in the lower half of the Pharmaceutical Risk/Reward Index table that assesses the attractiveness of the 19 countries in the Asia Pacific region. This is because while Thailand remains relatively attractive to pharmaceutical investors with its growing pharmaceutical sector, its overall score is dragged down by the risks, including low levels of patent protection that is imposed on drugmakers. As such it scores 16.1 out of a total of 35 on its risk score, significantly below the regional average of 19.3.

Latest Updates

  • In March 2016, local news sources note that Thailand Food and Drug Administration is now reviewing studies for Sanofi's dengue vaccine, which is expected to be available in the country by the middle of the year.

  • As of January 2016, Thailand's Department of Intellectual Property is in the process of considering proposed amendments to the Patent Act, with a focus on reducing the long period of pendency for patent registration and improved patentability.

  • That same month, Thailand confirmed its second case of the Middle East Respiratory Syndrome (MERS) virus. This patient was an Omani man travelling to the country to seek medical treatment.

BMI Economic View

Government efforts to shore up the Thai economy and weak crude oil prices should help to support the ongoing economic recovery. That said, export headwinds will act as a drag. As such, we forecast Thailand's real GDP growth to come in at 3.3% in 2016, marking only a marginal increase from a forecast 3.2% in 2015.

BMI Political View

The Thai military's extended stay in power until at least 2017 following the rejection of the draft constitution will allow for an acceleration of its efforts to remove former premier Thaksin Shinawatra (2001-2006) and his allies from domestic politics, risking a further deepening of the political divide in the country and a rapid regression towards Myanmar-style authoritarianism.

BMI Industry View
7
Table: Headline Pharmaceuticals & Healthcare Forecasts (Thailand 2014-2020)
7
SWOT
9
Industry Forecast
11
Pharmaceutical Market Forecast
11
Table: Pharmaceutical Sales, Historical Data And Forecasts (Thailand 2012-2020)
14
Healthcare Market Forecast
15
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Thailand 2012-2020)
17
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Thailand 2012-2020)
17
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Thailand 2012-2020)
18
Prescription Drug Market Forecast
19
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Thailand 2012-2020)
21
Patented Drug Market Forecast
22
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Thailand 2012-2020)
23
Generic Drug Market Forecast
24
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Thailand 2012-2020)
25
OTC Medicine Market Forecast
26
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Thailand 2012-2020)
28
Pharmaceutical Trade Forecast
29
Table: Pharmaceutical Trade Data And Forecasts (Thailand 2014-2020)
32
Table: Pharmaceutical Trade Data And Forecasts local currency (Thailand 2014-2020)
32
Industry Risk/Reward Index
33
Asia Pacific Risk/Reward Index
33
Thailand Risk/Reward Index
39
Rewards
39
Risks
39
Regulatory Review
41
Intellectual Property Issues
44
Pricing Regime
45
Table: Price Build-Up Of Medicines In Thailand
46
Reimbursement Regime
46
Market Overview
48
Healthcare Sector
48
Table: Major Health Insurance Programmes In Thailand
50
Table: Healthcare Resources (Thailand 2010-2015)
51
Table: Healthcare Personnel (Thailand 2010-2015)
52
Table: Healthcare Activity (Thailand 2010-2015)
52
Research & Development
52
Clinical Trials
54
Epidemiology
55
Table: Estimated Number Of New Cases Of Cancer In Thailand
59
Competitive Landscape
60
Research-Based Industry
60
Table: PReMA Members
60
Table: Multinational Market Activity
61
Generic Drugmakers
62
Table: Pharmaceutical Manufacturers Of Modern Drugs, 2007-2012
63
Pharmaceutical Distribution
63
Pharmaceutical Retail Sector
64
Company Profile
67
Berlin Pharmaceutical Industry
67
Biolab
70
GlaxoSmithKline
72
Government Pharmaceutical Organisation
75
Merck & Co
79
Novartis
82
Pfizer
85
Sanofi
89
Demographic Forecast
92
Table: Population Headline Indicators (Thailand 1990-2025)
93
Table: Key Population Ratios (Thailand 1990-2025)
93
Table: Urban/Rural Population & Life Expectancy (Thailand 1990-2025)
94
Table: Population By Age Group (Thailand 1990-2025)
94
Table: Population By Age Group % (Thailand 1990-2025)
95
Glossary
97
Methodology
99
Pharmaceutical Expenditure Forecast Model
99
Healthcare Expenditure Forecast Model
99
Notes On Methodology
100
Risk/Reward Index Methodology
101
Index Overview
102
Table: Pharmaceutical Risk/Reward Index Indicators
102
Indicator Weightings
103

The Thailand Pharmaceuticals & Healthcare Report features BMI Research's forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.

BMI's Thailand Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Thailand pharmaceutical and healthcare industry.

Key Benefits

  • Benchmark BMI's pharmaceutical and healthcare market forecasts for Thailand, to test other views - a key input for successful budgeting and strategic business planning in the Thai pharmaceutical and healthcare market.
  • Target business opportunities and risks in the Thai pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Thailand.
  • Assess the activities, strategy and market position of your competitors using our company profiles (including SWOTs, KPIs and latest activity) and competitive landscape tables.

Coverage

BMI Industry View

An at-a-glance perspective on the latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The pharmaceuticals and healthcare SWOT outlines strategic factors that affect the basic assumptions underpinning BMI’s forecast analysis, and taken together with BMI’s political, economic and business environment SWOTs, it gives a complete overview of market climate.

BMI Industry Forecast Scenario

Industry forecasts to end-2019 for all key indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:

  • Healthcare: Total healthcare expenditure (USDbn), healthcare expenditure (% of GDP), healthcare expenditure per capita (USD), hospital beds, doctors, and birth & mortality rates (all per ‘000 population).
  • Pharmaceutical Market: Drug expenditure in USDbn, % of GDP and per capita (USD).
  • Patented Drug Market: Prescription drug sales (USDbn & % of total sales).
  • Generic Drug Market: Generic product sales (USDbn), generic sales (% of total sales).
  • OTC Drug Market: OTC sales (USDbn & % of total sales).
  • Macroeconomic Forecasts: Nominal and real GDP, % real GDP growth, % private consumption growth, % industrial output growth, % consumer price index, % GDP price deflator, exports, imports, trade balance, current account balance, foreign direct investment, exchange rate against USD, government expenditure and external debt.

BMI’s Pharmaceuticals and Healthcare Risk Reward Index

BMI’s Risk Reward Index provides investors (both national and multinational) looking for opportunities in the region with a clear country-comparative assessment of the market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.

Market Summary

A snapshot of key market characteristics, including total size of the pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape

Industry Developments

A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.

Regulatory Regime

Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as analysis of the overall regulatory burden.

Competitive Landscape

The competitive landscape section provides comparative company analyses and index by USD sales and % share of total sales – for the total pharmaceutical sector, as well as the OTC, generics and distribution sub-sectors.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.