The macroenvironment is positive for
the Thai pharmaceutical market. Politically, Yingluck Shinawatra became
Thailand’s first female Prime Minister in August 2011. Economically, the
Economist Intelligence Unit (EIU) projects that Thailand will be the eighth
largest economy in the Asia Pacific region by 2017. Legally, Thailand remained
on the USTR’s Priority Watch List in 2011. Demographically, the EIU projects an
annual growth rate of around 0.6% during the forecast period and the population
will be the ninth largest in the Asia Pacific region by 2017. The elderly
population is rising; Thailand is expected to have the eighth highest
proportion in the Asia Pacific region in 2017.
Despite relying heavily on imports,
Thailand’s pharmaceutical market is growing. The balance of pharmaceutical
trade remains considerably negative, with retail medicaments accounting for
over two-thirds of the total deficit. Between 2006 and 2010, the deficit in the
balance of trade rose by a high double-digit CAGR. Thailand’s pharmaceutical
market is estimated to grow at a low double-digit CAGR in US dollar terms
between 2012 and 2017. Thailand will have the eighth largest pharmaceutical
market in the Asia Pacific region in 2017. In per capita terms, Thailand is
projected to have the eighth highest rate in the Asia Pacific region by 2017.
The Thai generic sector is growing,
especially in the public sector, where the government has encouraged its use
over patented drugs in order to cut costs. Greater Pharma has recently launched
its first generic inhaler drug for the treatment of osteoporosis, making it the
first company in Southeast Asia to successfully manufacture a generic version
of this drug. The Thai biologic sector is very underdeveloped, but there are
signs that this could change. The government-backed organisation BIOTEC has
formed partnerships with both Greater Pharma and i+MED. Greater Pharma has
developed the first biologic allergy vaccine in South-east Asia.
In case you would like to learn more about our Thailand Pharmaceutical movements and directions. I recommend you to attend the coming conference “Thailand's Pharmaceutical Market 2012” on 30-31 August 2012 -organised by BMN Thailand. In case you need more info, please click the below link, for e-brochure.
In case you would like to learn more about our Thailand Pharmaceutical movements and directions. I recommend you to attend the coming conference “Thailand's Pharmaceutical Market 2012” on 30-31 August 2012 -organised by BMN Thailand. In case you need more info, please click the below link, for e-brochure.
