Base Year
Historical Year
Forecast Year
The Thailand pharmacy retail market reached around USD 5.90 billion in 2023. The market is projected to grow at a CAGR of 4.9% between 2024 and 2032, reaching almost USD 9.20 billion by 2032.
Non - communicable diseases account for 400,000 fatalities annually in Thailand. With men being more susceptible to contracting these infections (18%) as compared to women (11%), a strong pharmacy market is essential for boosting the labour force productivity and driving economic growth. By 2031, nearly 30% of Thailand’s population is expected to be older than 60 years, leading to an increase in the demand for medical equipment and prescribed drugs.
The provision of home services for dispensing certain medications is also emerging as one of the key market trends. Moreover, the low cost of medications in Thailand is a significant opportunity for foreigners to avail high-quality treatment at a lower cost. This makes Thailand an attractive destination for seeking medical treatments.
With the integration of artificial intelligence and machine learning tools in pharmacies, manual tasks like cross-checking prescription papers and sorting the right medicines are expected to become automated, which can enable pharmacists to give expert guidance to patients regarding drug dosage and ingredients. The provision of primary care services and mental health packages is also expected to drive the market growth in the forecast period.
Thailand Pharmacy Retail Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Product Type
Based on type, the market is segmented into offline and online. The online pharmacy retail segment is anticipated to account for a substantial market share, due to its convenience, cost-effectiveness, and improved access to medication. Retailers are also shifting their operations to online channels to streamline operational processes, automate tasks, and lower overhead costs.
The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers and acquisitions, investments, and capacity expansion.
The market participants are integrating advanced technologies such as artificial intelligence, data analytics, and retail pharmacy software, among others, to optimise inventory, provide accurate reporting, and digitise medical data.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Product Type |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market was valued at nearly USD 5.90 billion in 2023.
The market is projected to grow at a CAGR of 4.9% between 2024 and 2032.
The market is assessed to witness a healthy growth in the forecast period to reach around USD 9.20 billion in 2032.
The different product types in the market include prescribed drugs, over the counter drugs, and medical equipment, among others.
The different types of pharmacy retail are online and offline.
The key market players are Walgreens Boots Alliance Inc., Target Corporation, AS Watson Group, Central & Matsumoto Kiyoshi Co., Ltd., Healthy Max, and LAB Pharmacy, among others.
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Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
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+91-858-608-1494
Philippines
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+63-287-899-028, +63-967-048-3306
United Kingdom
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+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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