Thailand Pharmaceuticals and Healthcare Report Q3 2009
Published By: Business Monitor International
June 2009
R302-6670
Online Download $495.00
Description
In BMI’s Pharmaceutical Environment Ranking table for Q309, Thailand remains placed 10th, out of the15 key markets surveyed in the Asia Pacific region. Thailand’s growing and ageing population and theexpansion of universal healthcare coverage represent a substantial commercial opportunity for drugmakers.
However, its precarious political climate, widespread counterfeiting, deficient intellectualproperty (IP) environment and the controversial compulsory licensing scheme are just a few of the issuesdeterring foreign investment and involvement in its pharmaceutical market. As a result of such factors,some multinationals are no longer launching new products in the country, with the foreign industry alsoprotesting against the proposal that all new drug applications must contain information regarding thedrug’s patent status and its price calculation.
In fact, in the 2009 version of the Special 301 Report prepared by the Pharmaceutical Research andManufacturers of America (PhRMA), Thailand features as a ‘Priority Foreign Country’. PhRMA hascriticised the government for not making any progress in addressing current IP environmentshortcomings, while also suggesting that the government is actually backtracking on previously-madeprogress. However, some positive developments seem to be in the pipeline, following the recentagreement between the Thai Commerce Industry, PhRMA and the Biotechnology Industry Organisation(BIO) to increase the availability of cheaper drugs in the country by encouraging cooperation on researchand innovation rather than imposing compulsory licensing.
Nevertheless, the deteriorating economic situation is already impacting the development ofpharmaceutical market values, with the Thailand’s Pharmaceutical Research and ManufacturersAssociation (PReMA) reporting sluggish Q109 sales. While consumers are increasingly relying on thegovernment (especially hospitals) for their medicine needs, the economic downturn will have a negativeimpact on the availability of public finances for healthcare and medicines. The authorities are likely toincrease their focus on cost-containment, with measures such as rational prescribing likely to form part oftheir programme.
In the light of the above, we have further revised our forecasts downwards, now expecting that the marketwill develop at a compound annual growth rate (CAGR) of 4.63% in local currency terms, to reachTHB150.87bn (US$5.2bn). According to PReMA, the market at consumer prices grew by 14% year-onyear(y-o-y) in the course of 2008, which translated into an estimated value of THB120.33bn(US$3.52bn). This double-digit growth will not be replicated in 2009, with local companies - such asAlcon Laboratories - already reporting that they only expects an 8% y-o-y revenue growth for thecurrent year, mainly due to the slowdown in consumers’ healthcare expenditure.
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Table of Contents
- Executive Summary
- SWOT Analysis
- Thailand Pharmaceutical And Healthcare Industry SWOT
- Thailand Political SWOT
- Thailand Economic SWOT
- Thailand Business Environment SWOT
- Pharmaceutical Business Environment Ratings
- Table: Asia Pacific - Regional Pharmaceutical Business Environment Rankings For Q309
- Limits Of Potential Returns
- Risks To Realisation Of Returns
- Thailand - Market Summary
- Regulatory Regime
- National Health Assembly Agenda Items
- Intellectual Property Regime
- IP Shortcomings
- Counterfeit Drugs
- Compulsory Licensing Regulatory Developments
- Recent IP Developments
- Pricing And Reimbursement
- Industry Trends And Developments
- Epidemiology
- Healthcare System
- Healthcare Insurance
- Healthcare Financing
- Medical Tourism
- Pharmaceutical Sector
- Local Producers
- Foreign Companies
- Recent Industry Developments
- Traditional Medicines
- Pharmaceutical Retail
- Vaccine Sector
- Recent Vaccines Sector Developments
- Research And Development
- Recent Research And Development Activities
- Biosimilars
- Clinical Trials
- Medical Devices
- Industry Forecast Scenario
- Overall Market Forecast
- Table: Thailand - Pharmaceutical Market Indicators, Historical Data and Forecasts
- Key Growth Factors - Industry
- Table: Thailand - Healthcare Expenditure Indicators, Historical Data and Forecasts
- Key Growth Factors - Macroeconomic
- Table: Thailand - Economic Activity
- Prescription Market Forecast
- Table: Thailand - Prescription Market Indicators, Historical Data And Forecast (THBmn unless otherwise indicated)
- Patented Drug Market Forecasts
- Table: Thailand - Patented Market Indicators, Historical Data and Forecasts
- Generics Market Forecasts
- Table: Thailand - Generics Market Indicators, Historical Data and Forecasts
- OTC Market Forecast
- Table: Thailand - OTC Market Indicators, Historical Data and Forecasts (THBmn unless otherwise indicated)
- Pharmaceutical Trade Forecasts
- Table: Thailand - Pharmaceutical Trade Indicators, Historical Data and Forecasts (US$mn)
- Medical Device Market Forecast
- Table: Thailand - Medical Device Market Indicators, Historical Data and Forecasts (US$mn unless otherwise stated)
- Other Healthcare Data Forecasts
- Table: Thailand - Other Health Indicators, Historical Data and Forecasts
- Key Risks To BMI’s Forecast Scenario
- Competitive Landscape
- Table: Thailand’s Pharmaceutical Market In Q406 (most recent publically available data)
- Company Profiles
- Leading Multinational Manufacturers
- Pfizer
- Sanofi-Aventis
- GlaxoSmithKline
- Merck & Co
- Domestic Manufacturer Profiles
- Siam Pharmaceutical
- Government Pharmaceutical Organisation (GPO)
- Biolab
- Thai Meiji Pharmaceutical Co
- Country Snapshot: Thailand Demographic Data
- Section 1: Population
- Table: Demographic Indicators, 2005-2030
- Table: Rural/Urban Breakdown, 2005-2030
- Section 2: Education And Healthcare
- Table: Education, 2002-2005
- Table: Vital Statistics, 2005-2030
- Section 3: Labour Market And Spending Power
- Table: Employment Indicators, 2001-2006
- Table: Consumer Expenditure, 2000-2012 (US$)
- Table: Average Annual Non-Agricultural Wages, 2001-2012
- BMI Forecast Modelling
- How We Generate Our Pharmaceutical Industry Forecasts
- Pharmaceutical Business Environment Ratings Methodology
- Ratings Overview
- Table: Pharmaceutical Business Environment Indicators
- Weighting
- Table: Weighting Of Components
- Sources
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