Thailand
July 2012
The report offers companies, investors, policymakers, and stakeholders with an interest in healthcare, pharmaceuticals, or life sciences insights into a country already leading the way in Southeast Asia and with the potential to grow further.
With a burgeoning middle class and aging population the demand for healthcare is stronger than ever in Thailand. As the country is the number one destination for medical tourism in the world, a member of ASEAN and of the forthcoming ASEAN Economic Community, greater understanding of the Thai pharma and healthcare sectors is vital for all stakeholders.
It features interviews with senior executives from major companies in Thailand and leaders of some of the country’s most important institutions, updated facts and figures on Thailand’s healthcare and pharma sectors, and feature stories.
The report offers companies, investors, policymakers, and stakeholders with an interest in healthcare, pharmaceuticals, or life sciences insights into a country already leading the way in Southeast Asia and with the potential to grow further.
With a burgeoning middle class and aging population the demand for healthcare is stronger than ever in Thailand. As the country is the number one destination for medical tourism in the world, a member of ASEAN and of the forthcoming ASEAN Economic Community, greater understanding of the Thai pharma and healthcare sectors is vital for all stakeholders.
It features interviews with senior executives from major companies in Thailand and leaders of some of the country’s most important institutions, updated facts and figures on Thailand’s healthcare and pharma sectors, and feature stories.
Key Market Facts
- Thailand's pharmaceutical market was valued at approximately THB 150-170 billion ($4.5-5 billion) in 2015, with a comprehensive universal healthcare system covering the majority of the population through three major insurance schemes.
- GPO (Government Pharmaceutical Organisation), Siam Pharmaceutical, and Biolab are key domestic manufacturers, while multinationals including Pfizer, Novartis, Roche, and Sanofi operate significant commercial businesses in Thailand.
- Regulatory authority: FDA Thailand (Food and Drug Administration, Thailand) under the Ministry of Public Health oversees drug approvals and market authorisation, operating a comprehensive regulatory framework progressively aligned with ASEAN standards.
- Thailand's '30-baht scheme' universal health coverage system provides comprehensive pharmaceutical benefits to the majority of the population, making Thailand an important market for essential and generic medicines throughout the region.
- Thailand's compulsory licensing of patented medicines (2006-2008) created lasting concerns about IP protection among multinational pharmaceutical companies, with the issue remaining a factor in investment decisions in 2015.
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