Thailand's import of pharmaceutical products has seen a consistent growth from 2013 to 2023, increasing from $1.91 billion to $2.96 billion. Between 2013 and 2023, a notable peak was in 2018 with a year-on-year growth of 13.17%, followed by a moderate downturn in 2022 at -6.01%. The most recent year, 2023, displayed a 3.22% rise.
Key percentage variations over the last two years highlight a dip in 2022 (-6.01%) and a subsequent recovery in 2023 (3.22%). The five-year compound annual growth rate (CAGR) from 2018 to 2023 stands at 3.05%, indicating steady growth.
The forecast from 2024 onward suggests continued growth, projecting the value to reach $3.41 billion by 2028, with an estimated five-year CAGR of 2.1% and a forecasted five-year growth rate of 10.95%.
Future trends to watch for include potential impacts of healthcare policy changes, advancements in pharmaceutical technologies, and shifts in global trade dynamics, which could influence Thailand's pharmaceutical import market.
