Thailand’s pharmaceutical market is estimated to grow at a high single-digit CAGR in US dollar terms between 2011 and 2016. Thailand will have the eighth largest pharmaceutical market in the Asia Pacific region in 2016. In per capita terms, Thailand is projected to have the eighth highest rate in the Asia Pacific region by 2016. The market is growing despite relying heavily on imports. The balance of pharmaceutical trade remains considerably negative, with retail medicaments accounting for nearly three-quarters of the total deficit. Between 2005 and 2009, the deficit in the balance of trade rose by a high double digit CAGR.
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 South-East Asia to successfully manufacture a generic version of this drug.
Source: TECTURA
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