Krungsri Research – Thailand Industry Outlook, 2025-2027

The pharmaceutical industry in Thailand is expected to experience steady growth in the next three years, with a forecasted annual growth rate of 6.0-7.0% in domestic sales value from 2025 to 2027. This growth will be driven by factors such as an increase in the number of cases of non-communicable diseases and infectious diseases, as well as the impact of climate change on public health. The extension of Universal Health Coverage, particularly the Gold Card system, has also significantly improved access to treatments. However, challenges such as limited ability to produce advanced products and financial constraints for upgrading production lines may hinder the industry's growth. The outlook for different segments of the market varies, with manufacturers of pharmaceuticals benefiting from rising rates of illness and extended health services, while facing increasing competition from overseas players. Distributors can expect continued revenue growth, although competition may intensify. Retailers and wholesalers are adapting to changing market trends, with wholesalers increasingly moving into retail markets and utilizing online channels for sales and marketing.