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: Developing into a regional hub for pharmaceutical R&D will remain a challenge for Thailand. The government has yet to implement a national level strategy to foster the sector's growth and is unlikely to do so in the short term as the military junta focuses on staying in power. As such, funding constraints, limitations in scientific human capital and low levels of investment into research b y domestic firms will persist, weighing on the sector's R&D prospects.

Headline Expenditure Projections

  • Pharmaceuticals: THB145.5bn (USD4.5bn) in 2014 to THB152.9bn (USD4.4bn) in 2015; +5.1% in local currency terms and -1.1% in US dollar terms.

  • Healthcare: THB581.7bn (USD17bn) in 2014 to THB621.3bn (USD18bn) in 2015: +6.8% in local currency and +-0.5% in US dollar terms.

Headline Pharmaceuticals & Healthcare Forecasts (Thailand 2013-2019)
2013 2014 2015f 2016f 2017f 2018f 2019f
f = BMI forecast. Source: WHO, National Sources, BMI
Pharmaceutical sales, USDbn 4.639 4.480 4.432 4.384 4.667 5.027 5.347
Pharmaceutical sales, % of GDP 1.10 1.11 1.13 1.13 1.12 1.11 1.10
Pharmaceutical sales, % of health expenditure 26.2 25.0 24.6 24.3 24.0 23.7 23.4
Health spending, USDbn 17.716 17.911 18.010 18.064 19.472 21.219 22.811

Risk/Reward Index

In Q116, 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 16.3 out of a total of 35 on its risk score, significantly below the regional average of 19.5.

Latest Updates

  • In August 2015, the Private Hospital Association lobbied the government to actively facilitate medical research and development in the country. According to the organisation, the medical needs more biotechnology research, particularly in the areas of medicine, food supplements, cosmetics and medical equipment.

  • Thailand Development Research Institute noted in September 2015 that a copayment method would help improve the healthcare service under the universal healthcare scheme in the country. However, the institute also warned that this would impose a greater burden on the poor with some calling for the country's three healthcare schemes to be unified.

  • In October 2015, the government reported that spending for the civil servant medical expenditures exceeded the budget allocated by 10%. This therefore required authorities to draw funds from 2016 which will in turn force that budget to tap on 2017's allocated funds.

BMI Economic View

While Thailand's military government has sought to engineer an economic recovery, growing external challenges and the potential for renewed political turmoil will keep GDP growth grounded. As such, we have downgraded our 2015 real GDP growth forecast to 3.2% from 3.5% previously. The slow economic recovery has also led us to revise our forecast for the Thai baht to end 2015 at THB36.50/USD and average THB34.50/USD in 2015.

BMI Political View

The explosion that struck a major tourism hotspot in the heart of Bangkok on August 17 could undermine the recovery in the tourism industry, deepening the country's economic woes. The attack could also have political implications, given the highly polarised nature of domestic politics in the country.

BMI Industry View
7
Table: Headline Pharmaceuticals & Healthcare Forecasts (Thailand 2013-2019)
7
SWOT
9
Industry Forecast
11
Pharmaceutical Market Forecast
11
Table: Pharmaceutical Sales, Historical Data And Forecasts (Thailand 2011-2019)
13
Healthcare Market Forecast
13
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Thailand 2011-2019)
15
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Thailand 2011-2019)
16
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Thailand 2011-2019)
16
Prescription Drug Market Forecast
16
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Thailand 2011-2019)
18
Patented Drug Market Forecast
19
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Thailand 2011-2019)
20
Generic Drug Market Forecast
20
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Thailand 2011-2019)
22
OTC Medicine Market Forecast
22
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Thailand 2011-2019)
24
Pharmaceutical Trade Forecast
24
Table: Pharmaceutical Trade Data And Forecasts (Thailand 2013-2019)
27
Table: Pharmaceutical Trade Data And Forecasts local currency (Thailand 2013-2019)
27
Industry Risk/Reward Index
28
Asia Pacific Risk/Reward Index
28
Thailand Risk/Reward Index
35
Rewards
35
Risks
35
Regulatory Review
37
Intellectual Property Issues
40
Pricing Regime
41
Table: Price Build-Up Of Medicines In Thailand
42
Reimbursement Regime
42
Market Overview
44
Healthcare Sector
44
Table: Major Health Insurance Programmes In Thailand
46
Table: Healthcare Resources (Thailand 2009-2014)
47
Table: Healthcare Personnel (Thailand 2009-2014)
48
Table: Healthcare Activity (Thailand 2009-2014)
48
Clinical Trials
50
Epidemiology
51
Table: Estimated Number Of New Cases Of Cancer In Thailand
55
Competitive Landscape
56
Research Based Industry
56
Table: PReMA Members
56
Table: Multinational Market Activity
57
Generic Drugmakers
58
Table: Pharmaceutical Manufacturers Of Modern Drugs, 2007-2012
59
Pharmaceutical Distribution
59
Pharmaceutical Retail Sector
60
Company Profile
63
Berlin Pharmaceutical Industry
63
Biolab
66
GlaxoSmithKline
68
Government Pharmaceutical Organisation
71
Merck & Co
75
Novartis
78
Pfizer
81
Sanofi
85
Demographic Forecast
88
Table: Population Headline Indicators (Thailand 1990-2025)
89
Table: Key Population Ratios (Thailand 1990-2025)
89
Table: Urban/Rural Population & Life Expectancy (Thailand 1990-2025)
90
Table: Population By Age Group (Thailand 1990-2025)
90
Table: Population By Age Group % (Thailand 1990-2025)
91
Glossary
93
Methodology
95
Pharmaceutical Expenditure Forecast Model
95
Healthcare Expenditure Forecast Model
95
Notes On Methodology
96
Risk/Reward Index Methodology
97
Index Overview
98
Table: Pharmaceutical Risk/Reward Index Indicators
98
Indicator Weightings
99

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.