Sales of pharmaceutical drugs Thailand 2021, by type

In 2021, generic drug sales in Thailand amounted to around 94 billion Thai baht. Generic drugs accounted for the largest share of drug sales in Thailand since 2017, followed by patented drugs and over-the-counter drugs. Since the global pandamic, more focus has been given to the pharmaceutical sector, as is the case in Thailand.

Strengths and weaknesses of the Thai pharmaceutical market

Despite the use of compulsory licensing, the pharmaceutical sector in Thailand still faces the challenge of low intellectual property protection, resulting in a high level of counterfeit drugs. However, the Ministry of Public Health has started to enforce stricter drug laws and regulations. This would have an impact on the number of issued selling licenses for modern medicine. Regardless of the challenges, Thailand’s established universal healthcare system and strong private hospital growth contribute to the development of the pharmaceutical market.

The future of pharmaceuticals in Thailand

Given the current situation of the coronavirus (COVID-19) pandemic, more consumers have stocked up on over-the-counter medication and pharmaceutical drugs such as paracetamol. This increase in demand was probably a factor in the short term rise in the number of newly established pharmaceutical businesses at the beginning of 2020. Furthermore, pharmaceutical sales as a share of GDP were forecasted to increase in the future as well. This has pushed the sector to engage in more research and development, indicating more government attention in pharmaceuticals and thus signaling higher investment in the future.