Thailand’s Quality Healthcare Facilities and Booming Medical Tourism will Drive the Revenue for Pharmacy Retail Chains over Long Term: Ken Research

THAILAND, December 10, 2020 /EINPresswire.com/ -- • Anticipated increase from 4.6 million elderly people aged 70 years and above in 2016 (~43% of the total number of elderly people) to ~5.6 million by the year ending 2021.
• Steady growth in expenditure for both medicines & for other expenses will increase the distribution especially for private-sector treatments in Thailand, which is anticipated to grow by 4.7% by the year ending 2021, growing from 4.6% increase in 2018.
• Drug sales via online platform will be facilitated in more regulated and convenient way with more virtual support offered by the Telemedicine & e-prescription companies.
• The penetration of telemedicine services is slowly increasing in other cities however, higher proportion of participating sites are located in Bangkok & its vicinity.
• Pharmacies in Thailand will not only offer medicines, but will also extend their offer to include various types of products and services such as cosmetics, supplements, medical appliances and consultations to further compete over long term.

With growing ageing population, number of people that will get affected by chronic NCDs, especially hypertension will majorly affect almost half of the elderly population in Thailand & less commonly, diabetes, heart disease, stroke and cancer. Fascino pharmacy chain is planning to expand the current network (100+ branches) by opening 200 franchise outlets by the year ending 2023. Save Drug (part of Hospital Bangkok group) anticipates to expand the network of 100 branches nationwide & large modern retail operations, including discount stores & supermarket store format.

Increasing accessibility to Satisfactory Internet Bandwidth in both urban & rural areas of Thailand will drive the demand for online / E-consultations via telemedicine companies. Also, rising penetration of new and easy-to-handle teleconferencing systems will help them expand into various medical specialties other than endoscopy and surgery. For instance, the Krungthai-AXA insurance started offering telemedicine to policyholders in April 2020 as a result of COVID-19. Company started using services through BDMS network hospitals & Praram 9 Hospital.

COVID Impact on Customer Footfall in Pharmacies: Restrictions were put in place on tourists coming into the country due to lockdown however; Government of Thailand is planning to launch campaign to bring tourists to Phuket Province wherein the tourists will be quarantined along with required health check-ups for 14 days. The customer footfall in pharmacies is expected to become normal by the beginning of the next year.

The report titled “Thailand Pharmacy Retail Market Outlook to 2025 - By Market Structure (Organized & Unorganized Segment); By Region / Cities (Bangkok & its Vicinity, Central, South, Northeast, North, Eastern & West); By Product Categories (Prescribed, OTC, Non-Pharmaceutical Products and Medical Equipment); By Therapeutic Areas; and By Product Type (Patented and Generic Drugs)” by Ken Research suggested that the pharmacy retail market is further expected to grow in the near future as both existing companies and new entrants can focus on investing within marketing activities, hiring quality pharmacists, promotion of online platforms, focus on keeping stock of medicines for emerging diseases, partnerships with telemedicine players, using data analytics, acquisition of regional pharmacies, development of new retail channels and information on medicine intake. The market is expected to register a positive six year CAGR of 2.1% and 3.1% in terms of revenue and number of pharmacy stores respectively during the forecast period 2019-2025F.

For More Information on the Report, Click on the Below Link:-
https://www.kenresearch.com/healthcare/pharmaceuticals/thailand-pharmacy-retail-market-outlook-to-2025/384701-91.html

Key Segments Covered: -
By Market Structure (Number of Pharmacy Stores & Revenue)
Organized
Prescribed Drugs
Over-The-Counter
Non Pharmaceutical Products
Medical Equipment
Unorganized
Prescribed Drugs
Over-The-Counter
Non Pharmaceutical Products
Medical Equipment

By Product Categories (Prescribed Drugs, Over-The-Counter, Non Pharmaceutical Products and Medical Equipment)
By Sales
Generic Drugs
Patented Drugs

By Therapeutic Areas
Cardiovascular
Anti-Infective
Pain / Analgesics
Respiratory
Vitamins / Minerals / Nutrients
Anti-Biotic
Gastrointestinal
Gynecology
Neuro
Oncology
Ophthalmology
Others (Dermatology, Antiulcerants, Macrolides & Similar Type, Angioten-Ii Antag. Comb, ANTI-Epileptics, Antihistamines Systemic, Fluoroquinoloes)

By Region / Cities
Bangkok & its Vicinity
Central
South
Northeast
North
East
West

Pharmacy Retail Stores / Chains Covered
Watsons
Boots Retail
Pure by Big C
Save Drug
Fascino
Bangkok Drugstore
Health Up
P&F
Lab Pharmacy
Tsuruha
Matsumotokiyoshi
I-care
Healthy Max
Other Independent Chains

Telemedicine Companies Covered
ChiiWii
Raksa
Ooca
Doctor Anywhere
CM Mediclinic
ArinCare
Doctor A-Z
Other Telemedicine Players

Key Target Audience
Pharmaceutical Manufacturing Companies
Pharmacy Retail Companies
Independent Pharmacies
Industry Associations
Government and Regulatory Bodies
Telemedicine Companies
Pharmaceutical Distributors & Wholesalers

Time Period Captured in the Report:-
Historical Period – 2014-2019
Forecast Period – 2019-2025

Key Topics Covered in the Report: -
Executive Summary
Thailand Healthcare and Pharmacy Retail Market Overview
Thailand Pharmacy Retail Market Supply
Thailand Pharmacy Retail Market Demand
Thailand Pharmacy Retail Industry Analysis
Comparative Landscape of Thailand Pharmacy Retail Market
COVID-19 Impact on Thailand Pharmacy Retail Market
Thailand Pharmacy Retail Market Future Outlook and Projections, 2019-2025
Analyst Recommendations in Thailand Pharmacy Retail Industry
Research Methodology /Appendix

For More Information on the Report, Click on the Below Link:-
https://www.kenresearch.com/healthcare/pharmaceuticals/thailand-pharmacy-retail-market-outlook-to-2025/384701-91.html

Related Reports by Ken Research: -

https://www.kenresearch.com/healthcare/pharmaceuticals/malaysia-pharmacy-retail-market-outlook-to-2025/353094-91.html

https://www.kenresearch.com/healthcare/pharmaceuticals/philippines-pharmacy-retail-market-outlook-to-2025/353093-91.html

https://www.kenresearch.com/healthcare/pharmaceuticals/india-e-pharmacy-competition-benchmarking/345912-91.html

Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

Ankur Gupta
Ken Research Private limited
+91 9015378249
ankur@kenresearch.com
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