The report titled “Thailand Pharmacy Retail Market Outlook to 2025 - By Market Structure (Organized & Unorganized Segment); By Region / Cities (Bangkok & its Vicinity, Central, South, Northeast, North, Eastern & West); By Product Categories (Prescribed, OTC, Non-Pharmaceutical Products and Medical Equipment); By Therapeutic Areas; and By Product Type (Patented & Generic Drugs)” provides a comprehensive analysis on the performance of the pharmacy retail industry in Thailand. The report covers various aspects including the number of pharmacies, revenue, trends & developments, issues & challenges faced by the industry, competition landscape, telemedicine players, and others. Thailand pharmacy retail market report concludes with projections for the future of the industry including forecasted revenue by 2025, market segmentation, COVID-19 impact, and analysts’ take on the future.
Thailand Pharmacy Retail Market Overview and Size:
Volatile growth was observed within Thailand pharmacy retail market as multiple pharmacy stores closed due to the non-compliance of GPP standards required by the FDA. However, the closure of pharmacy outlets resulted in higher customer footfall in other pharmacies; hence a lower revenue growth rate was recorded in the year 2019. The market was observed in the growth stage owing to the growing intensity of competition among the retail pharmacies in the market in terms of wide product offering and value-added services. The franchise model has become quite popular with new chains adapting to this model for faster store expansion. Moreover, a collaboration between state hospitals and small chains has helped patients being treated under “UHC” alongside the growth of pharmacy stores. Change in population structure i.e. the transition to the Thai aging society has led to a surge in drugs (including dietary supplements) demanded towards chronic diseases such as hypertension, diabetes, and others. The market is booming owing to the rising number of cases of NCDs, online pharmacy services, increasing government health expenditure, and other growth drivers.
Thailand Pharmacy Retail Market Segmentation
By Market Structure (Organized and Unorganized Market):
The unorganized segment dominated in terms of revenue as well as basic number of pharmacy stores in Thailand during 2019. The particular segment is competitively positioned in OTC, Generics & Health Supplements & generally do not provide home delivery services.
On the other hand, the organized segment has established a strong presence across all the regions in Thailand that resulted in a higher footfall of customers at these outlets. In addition, organized chains have mobile applications, higher brand value, strong presence, and higher product listings & provide home delivery services.
By Product Categories (Prescribed Medicines, OTC, Non-Pharmaceuticals, and Medical Equipment): Prescribed drugs dominated the market in terms of revenue in 2019 largely due to the higher price/margins involved. Among the other product categories, OTC & Non-Pharmaceutical products were consistently growing in terms of revenue share. Medical equipment captured the least revenue share.
By Drug Type (Generic and Patented Drugs): Generics Drugs within Thailand dominated in terms of revenue as it has high consumption volume alongside rising government healthcare schemes to increase patient purchasing power in the country. Whereas, patented drugs on the other hand are ailment specific.
By Therapeutic Class (Cardiovascular, Anti-Infective, Pain / Analgesics, Respiratory, Vitamins / Minerals / Nutrients, Anti Biotic, Gastrointestinal, Gynecology, Neuro, Oncology, Ophthalmology, and Others): Cardiovascular class dominated the market in terms of revenue in 2019 majorly due to surge in Heart Failure (HF) risk factors such as obesity, hypertension & diabetes, related to changing lifestyle; followed by Anti-infective segment.
By Region / Cities (Bangkok, Central, South, Northeast, North, Eastern, and Western): Bangkok and its vicinity captured the second-highest number of pharmacy retail outlets (central region being the first) during 2019. However, in terms of revenues Bangkok region dominated majorly due to higher customer footfall & average basket size towards medicines in a particular region.
Comparative Landscape of Thailand Pharmacy Retail Market
The competition stage within the retail pharmacy industry has become highly fragmented with numerous unorganized chain brands present across almost every region. On the other hand, penetration of organized space is increasing over the years with top five players including Watsons Thailand, Boots Thailand, and Pure Pharmacy by Big C, Fascino Drugstores, and Save Drug. The players in the industry compete on the basis of parameters such as Number of Pharmacy Stores, Geographical Presence, Brand Recognition, and Partnerships with Telemedicine & E-Prescription Providers, product portfolio, online deliveries & Other Value Added Services.
Thailand Pharmacy Market Future Outlook & Projections
With the growing aging population, the number of people that are affected by chronic NCDs, especially hypertension will affect almost half of the elderly population in Thailand & less commonly, diabetes, heart disease, stroke & cancer thus, driving the demand from retail pharmacy chain in the near future. Increasing customer footfalls along with growth in telemedicine for online consultations and home delivery services will drive industry growth over the long term.
Key Segments Covered: -
By Market Structure (Number of Pharmacy Stores & Revenue)
Organized
Prescribed Drugs
Over-The-Counter
Non-Pharmaceutical Products
Medical Equipment
Unorganized
Prescribed Drugs
Over-The-Counter
Non-Pharmaceutical Products
Medical Equipment
By Product Categories (Prescribed Drugs, Over-The-Counter, Non-Pharmaceutical Products, and Medical Equipment)
By Sales
Generic Drugs
Patented Drugs
By Therapeutic Areas
Cardiovascular
Anti-Infective
Pain / Analgesics
Respiratory
Vitamins / Minerals / Nutrients
Anti-Biotic
Gastrointestinal
Gynecology
Neuro
Oncology
Ophthalmology
Others (Dermatology, Antiulcerants, Macrolides & Similar Type, Angioten-Ii Antag. Comb, ANTI-Epileptics, Antihistamines Systemic, Fluoroquinolones)
By Region / Cities
Bangkok & its Vicinity
Central
South
Northeast
North
East
West
Pharmacy Retail Stores / Chains Covered
Watsons
Boots Retail
Pure by Big C
Save Drug
Fascino
Bangkok Drugstore
Health Up
P&F
Lab Pharmacy
Tsuruha
Matsumotokiyoshi
I-care
Healthy Max
Other Independent Chains
Telemedicine Companies Covered
ChiiWii
Raksa
Ooca
Doctor Anywhere
CM Mediclinic
ArinCare
Doctor A-Z
Other Telemedicine Players
Key Target Audience
Pharmaceutical Manufacturing Companies
Pharmacy Retail Companies
Independent Pharmacies
Industry Associations
Government and Regulatory Bodies
Telemedicine Companies
Pharmaceutical Distributors & Wholesalers
Time Period Captured in the Report:-
Historical Period – 2014-2019
Forecast Period – 2019-2025
Key Topics Covered in the Report: -
Executive Summary
Thailand Healthcare and Pharmacy Retail Market Overview
Thailand Pharmacy Retail Market Supply
Thailand Pharmacy Retail Market Demand
Thailand Pharmacy Retail Industry Analysis
Comparative Landscape of Thailand Pharmacy Retail Market
COVID-19 Impact on Thailand Pharmacy Retail Market
Thailand Pharmacy Retail Market Future Outlook and Projections, 2019-2025
Analyst Recommendations in Thailand Pharmacy Retail Industry
Research Methodology /Appendix
For More Information on the Report, Click on the Below Link:-
Thailand Pharmacy Retail Market Growth
Related Reports by Ken Research: -
Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
No comments:
Post a Comment