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Thailand Pharmacy Retail Market Size, Share, Trends, Growth: By Type: Online, Offline; By Product Type: Prescribed Drugs, Over The Counter, Medical Equipment, Others; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Thailand Pharmacy Retail Market Size
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.
Thailand Pharmacy Retail Market Outlook
- Online retail pharmacies are expected to constitute a major portion of the market share.
- Over the counter drugs are expected to remain extremely popular over the forecast period.
- Technological advancements are expected to propel the market growth.
Thailand Pharmacy Retail Market Growth
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 Industry Segmentation
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
- Online
- Offline
Market Breakup by Product Type
- Prescribed Drugs
- Over The Counter
- Medical Equipment
- Others
Thailand Pharmacy Retail Market Share
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.
Leading Companies in the Thailand Pharmacy Retail Market
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.
- Walgreens Boots Alliance Inc.
- Target Corporation
- AS Watson Group
- Central & Matsumoto Kiyoshi Co., Ltd.
- Healthy Max
- LAB Pharmacy
- Others
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.
Key Highlights of the Report
| 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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Pharmacy Retail Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Pharmacy Retail Historical Market (2018-2023)
8.3 Asia Pacific Pharmacy Retail Market Forecast (2024-2032)
9 Thailand Pharmacy Retail Market Overview
9.1 Key Industry Highlights
9.2 Thailand Pharmacy Retail Historical Market (2018-2023)
9.3 Thailand Pharmacy Retail Market Forecast (2024-2032)
10 Thailand Pharmacy Retail Market by Type
10.1 Online
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Offline
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Thailand Pharmacy Retail Market by Product Type
11.1 Prescribed Drugs
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Over The Counter
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Medical Equipment
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Others
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyer’s Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Walgreens Boots Alliance Inc.
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Target Corporation
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 AS Watson Group
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Central & Matsumoto Kiyoshi Co., Ltd.
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Healthy Max
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 LAB Pharmacy
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Pharmacy Retail Market: Key Industry Highlights, 2018 and 2032
2. Thailand Pharmacy Retail Market: Key Industry Highlights, 2018 and 2032
3. Thailand Pharmacy Retail Historical Market: Breakup by Type (USD Billion), 2018-2023
4. Thailand Pharmacy Retail Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. Thailand Pharmacy Retail Historical Market: Breakup by Product Type (USD Billion), 2018-2023
6. Thailand Pharmacy Retail Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
7. Thailand Pharmacy Retail Market Structure
Key Questions Answered in the Report
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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