Forecast: Pharmaceutical Goods Market Size Value in Thailand

The pharmaceutical goods market in Thailand has shown fluctuations over the past decade. In 2023, the market size stood at 262.44 million US dollars. The period from 2013 to 2016 saw a decline, with significant negative year-on-year variations in 2015 and 2016. However, a rebound occurred in 2017 and 2018 with noticeable year-on-year growths of 12% and 8.81%, respectively. The years 2019 and 2020 faced a downturn, followed by incremental increases from 2021 onwards. The year-on-year variation for the last two years was around 1.6%. The compound annual growth rate (CAGR) for the past five years was -0.61%, indicating a slight contraction.

The forecast from 2024 to 2028 suggests a moderate recovery, with the market projected to reach 282.56 million US dollars by 2028. The forecasted 5-year CAGR stands at 1.17%, with an overall growth rate of 6.01% by 2028. This indicates a stable, yet slow, upward trend in the market in the upcoming years.

Future trends to watch for include advancements in medical technology, government policies on healthcare funding, and demographic changes impacting healthcare demand. Additionally, global economic conditions and healthcare innovations will play crucial roles in shaping the growth of the pharmaceutical market in Thailand.