Thailand Pharmaceuticals and Healthcare Report Q3 2009

Publication Date	June 2009
Publisher	Business Monitor
Product Type	Report
Pages	79
ISBN Number	not applicable
Product Code	BMI02619

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Summary

In BMI's Pharmaceutical Environment Ranking table for Q309, Thailand remains placed 10th, out of the 15 key markets surveyed in the Asia Pacific region. Thailand's growing and ageing population and the expansion of universal healthcare coverage represent a substantial commercial opportunity for drugmakers.

However, its precarious political climate, widespread counterfeiting, deficient intellectual property (IP) environment and the controversial compulsory licensing scheme are just a few of the issues deterring foreign investment and involvement in its pharmaceutical market. As a result of such factors, some multinationals are no longer launching new products in the country, with the foreign industry also protesting against the proposal that all new drug applications must contain information regarding the drug's patent status and its price calculation.

In fact, in the 2009 version of the Special 301 Report prepared by the Pharmaceutical Research and Manufacturers of America (PhRMA), Thailand features as a 'Priority Foreign Country'. PhRMA has criticised the government for not making any progress in addressing current IP environment shortcomings, while also suggesting that the government is actually backtracking on previously-made progress. However, some positive developments seem to be in the pipeline, following the recent agreement between the Thai Commerce Industry, PhRMA and the Biotechnology Industry Organisation (BIO) to increase the availability of cheaper drugs in the country by encouraging cooperation on research and innovation rather than imposing compulsory licensing.

Nevertheless, the deteriorating economic situation is already impacting the development of pharmaceutical market values, with the Thailand's Pharmaceutical Research and Manufacturers Association (PReMA) reporting sluggish Q109 sales. While consumers are increasingly relying on the government (especially hospitals) for their medicine needs, the economic downturn will have a negative impact on the availability of public finances for healthcare and medicines. The authorities are likely to increase their focus on cost-containment, with measures such as rational prescribing likely to form part of their programme.

In the light of the above, we have further revised our forecasts downwards, now expecting that the market will develop at a compound annual growth rate (CAGR) of 4.63% in local currency terms, to reach THB150.87bn (US$5.2bn). According to PReMA, the market at consumer prices grew by 14% year-onyear (y-o-y) in the course of 2008, which translated into an estimated value of THB120.33bn (US$3.52bn). This double-digit growth will not be replicated in 2009, with local companies - such as Alcon Laboratories - already reporting that they only expects an 8% y-o-y revenue growth for the current year, mainly due to the slowdown in consumers' healthcare expenditure.

Content

Executive Summary
SWOT Analysis
Thailand Pharmaceutical And Healthcare Industry SWOT
Thailand Political SWOT
Thailand Economic SWOT
Thailand Business Environment SWOT
Pharmaceutical Business Environment Ratings
- Table: Asia Pacific - Regional Pharmaceutical Business Environment Rankings For Q309
Limits Of Potential Returns
Risks To Realisation Of Returns
Thailand - Market Summary
Regulatory Regime
National Health Assembly Agenda Items
Intellectual Property Regime
IP Shortcomings
Counterfeit Drugs
Compulsory Licensing Regulatory Developments
Recent IP Developments
Pricing And Reimbursement
Industry Trends And Developments
Epidemiology
Healthcare System
Healthcare Insurance
Healthcare Financing
Medical Tourism
Pharmaceutical Sector
Local Producers
Foreign Companies
Recent Industry Developments
Traditional Medicines
Pharmaceutical Retail
Vaccine Sector
Recent Vaccines Sector Developments
Research And Development
Recent Research And Development Activities
Biosimilars
Clinical Trials
Medical Devices
Industry Forecast Scenario
Overall Market Forecast
- Table: Thailand - Pharmaceutical Market Indicators, Historical Data and Forecasts
Key Growth Factors - Industry
- Table: Thailand - Healthcare Expenditure Indicators, Historical Data and Forecasts
Key Growth Factors - Macroeconomic
- Table: Thailand - Economic Activity
Prescription Market Forecast
- Table: Thailand - Prescription Market Indicators, Historical Data And Forecast (THBmn unless otherwise indicated)
Patented Drug Market Forecasts
- Table: Thailand - Patented Market Indicators, Historical Data and Forecasts
Generics Market Forecasts
- Table: Thailand - Generics Market Indicators, Historical Data and Forecasts
OTC Market Forecast
- Table: Thailand - OTC Market Indicators, Historical Data and Forecasts (THBmn unless otherwise indicated)
Pharmaceutical Trade Forecasts
- Table: Thailand - Pharmaceutical Trade Indicators, Historical Data and Forecasts (US$mn)
Medical Device Market Forecast
- Table: Thailand - Medical Device Market Indicators, Historical Data and Forecasts (US$mn unless otherwise stated)
Other Healthcare Data Forecasts
- Table: Thailand - Other Health Indicators, Historical Data and Forecasts
Key Risks To BMI's Forecast Scenario
Competitive Landscape
- Table: Thailand's Pharmaceutical Market In Q406 (most recent publically available data)
Company Profiles
Leading Multinational Manufacturers
Pfizer
Sanofi-Aventis
GlaxoSmithKline
Merck & Co
Domestic Manufacturer Profiles
Siam Pharmaceutical
Government Pharmaceutical Organisation (GPO)
Biolab
Thai Meiji Pharmaceutical Co
Country Snapshot: Thailand Demographic Data
Section 1: Population
- Table: Demographic Indicators, 2005-2030
- Table: Rural/Urban Breakdown, 2005-2030
Section 2: Education And Healthcare
- Table: Education, 2002-2005
- Table: Vital Statistics, 2005-2030
Section 3: Labour Market And Spending Power
- Table: Employment Indicators, 2001-2006
- Table: Consumer Expenditure, 2000-2012 (US$)
- Table: Average Annual Non-Agricultural Wages, 2001-2012
BMI Forecast Modelling
How We Generate Our Pharmaceutical Industry Forecasts
Pharmaceutical Business Environment Ratings Methodology
Ratings Overview
- Table: Pharmaceutical Business Environment Indicators
Weighting
- Table: Weighting Of Components
Sources