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New Market Report: Thailand Pharmaceuticals & Healthcare Report Q1 2014

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2013-12-05 17:38:00 - Fast Market Research recommends "Thailand Pharmaceuticals & Healthcare Report Q1 2014" from Business Monitor International, now available

We calculate that the Thai pharmaceutical market will post a five-year compound annual growth rate (CAGR) of 5.7% in local currency terms, or of 7.0% in US dollars, to reach THB178.54bn (US $6.10bn) in 2017. Key drivers of growth will be volume-based, as the government continues to prioritise the use of generic medicines. Nevertheless, regional harmonisation initiatives - in addition to ongoing trade negotiations - are expected to gradually remove some of the market access barriers for novel products, though their uptake will remain dependent on the availability of private funding.

Full Report Details at
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Headline Expenditure Projections

* Pharmaceuticals: THB135.38bn (US$4.36bn) in 2012 to THB142.52bn (US$4.64bn) in 2013; +5.3% in local currency terms and +6.5% in US dollar

terms. Local currency forecast broadly unchanged in relation to previous quarter's projection.
* Healthcare: THB450.92bn (US$14.51bn) in 2012 to THB489.51bn (US$15.95bn) in 2013; +8.6% in local currency terms and +9.9% in US dollar terms. Local currency forecast broadly unchanged in relation to previous quarter's projection.

Risk/Reward Rating: Thailand remains ranked broadly in the middle of the Pharmaceutical RRR table assessing the attractiveness of the 18 countries in the Asia Pacific region. While Thailand's score for its Industry Rewards variable is above the regional average, indicating the country's favourable longer-term standing in terms of its pharmaceutical market development, operating risks - including the lacking intellectual property (IP) environment - remain elevated.

Key Trends and Developments

* In September 2013, Thailand-based Mega Lifesciences revealed its strategy to cash in on regional liberalisation through the ASEAN Economic Community (AEC), which is due to come into effect in 2015, according to The Nation. In the same month, Mega Lifesciences acquired Vietnamese Hau Giang Pharmaceutical's Eugica cough medicine brand, which will also support its regional expansion strategy.

BMI Economic View: The recent floods across more than 20 provinces in Thailand are presenting significant downside risks to the country's economic outlook, which we already assess as being below consensus. At a minimum, we expect the floods to result in logistical bottlenecks and we are likely to see a slowdown in industrial production over the coming months.

BMI Political View: We have downgraded Thailand's short-term political risk ratings due to the recent protests by health, consumer and farming activists against possible adverse impacts of a free trade agreement (FTA), a second round of which was discussed by Thailand and the European Union (EU) at a meeting in the week ending September 21 2013. The protestors demanded the FTA should not include intellectual property rights (IPRs) that go beyond already stringent World Trade Organisation (WTO) obligations, as this would reinforce monopolies by multinational pharmaceutical companies, increase the price of medicines and create new barriers to accessing cheap generic medicines.

Partial Table of Contents:

BMI Industry View
- Political
- Economic
- Business Environment
Industry Forecast
- Pharmaceutical Market Forecast
- Table: Thailand Pharmaceutical Sales, Historical Data and Forecasts
- Healthcare Market Forecast
- Table: Thailand Healthcare Expenditure Trends, Historical Data and Forecasts
- Table: Thailand Government Healthcare Expenditure Trends, Historical Data and Forecasts
- Table: Thailand Private Healthcare Expenditure Trends, Historical Data and Forecasts
- Prescription Drug Market Forecast
- Table: Thailand Prescription Drug Market Indicators, Historical Data and Forecasts
- Patented Drug Market Forecast
- Table: Thailand Patented Drug Market Indicators, Historical Data and Forecasts
- Generic Drug Market Forecast
- Table: Thailand Generics Drug Market Indicators, Historical Data and Forecasts
- OTC Medicine Market Forecast
- Table: Thailand Over-The-Counter (OTC) Medicine Market Indicators, Historical Data and Forecasts
- Table: OTC Medicine Sales Indicators by Category, 2006-2008
- Pharmaceutical Trade Forecast
- Table: Thailand Pharmaceutical Trade Data And Forecasts (US$mn)
- Table: Thailand Pharmaceutical Trade Data And Forecasts (THBmn)
- Other Healthcare Data
- Key Risks To BMI's Forecast Scenario
Macroeconomic Forecasts
- Table: Thailand - Economic Activity
Industry Risk Reward Ratings
- Asia Pacific Risk/Reward Ratings
- Thailand Risk Reward Ratings
- Rewards
- Risks
Market Overview
Industry Trends And Developments
- Epidemiology
- Communicable Diseases
- Healthcare System
- Healthcare Insurance
- Recent Health Insurance Developments
- Medical Tourism
- Research And Development (R&D)
- Biosimilars
- Clinical Trials
Regulatory Development
- Regulatory Regime
- Regulatory Developments
- Regional Harmonisation
- Intellectual Property Regime
- IP Shortcomings
- IP Developments
- Pricing And Reimbursement
- Table: Price Build-Up Of Medicines In Thailand
Competitive Landscape
- Pharmaceutical Industry
- Domestic Pharmaceutical Industry
- Table: Pharmaceutical Manufacturers Of Modern Drugs, 2007-2012
- Foreign Pharmaceutical Industry
- Table: PReMA Members, 2012

Full Table of Contents is available at:

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at

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