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Thailand’s pharmaceutical industry is expected to expand during 2026–2028, driven by population aging, the rising prevalence of non-communicable diseases (NCDs), and broader access to healthcare

The pharmaceuticals industry will enjoy favorable business conditions through the next three years with the forecast 6.0-7.0% annual growth in the domestic sales value in 2025-2027. Sales will be lifted by an expansion in case numbers for non-communicable diseases (NCDs) and infections with notifiable conditions, growth in emerging and reemerging diseases

The value of the domestic market for pharmaceuticals is expected to grow by 4.5-5.0% in 2022 relative to the 2021 figure, thanks to the easing of fears about COVID-19 and the return of the Thai economy to somewhere close to its normal level, with the subsequent rebound in growth then feeding into stronger spending power. Over 2023 to 2025, the market is expected to continue to grow thanks to the likely ongoing rise in incidences of chronic non-communicable diseases (NCDs), the extension of universal health coverage programs to cover the whole of the Thai population, the increasing number of foreign patients seeking treatment in Thai hospitals,

Thailand’s medical device industry is expected to expand during 2026–2028, supported by demand-side factors including the country’s aging population, the growing prevalence of non-communicable diseases

Artificial Intelligence (AI) in telemedicine, enabling continuity of healthcare services,

Domestic drug sales in 2020 are likely to expand at a low 2.0-3.0% as a result of the number of hospital admissions, both Thai and foreign

Private hospital business is expected to enjoy average annual growth of 10-13% from 2019 to 2021. Business expansion will be underpinned by structural changes in Thai demographics, including the aging society, continuing urbanization, and the ongoing growth of the middle classes. In addition, increasing health-awareness trend globally with personal health and wellness will also help to support sectoral growth.

In 2020 operating results of private hospitals have been under pressure from the COVID-19 epidemic, affecting purchasing power of Thai and foreign patients

Growth in the value of the domestic market for pharmaceuticals is forecast to slip to just 2.5% in 2021. This is largely due to Thailand’s 3rd wave of Covid-19, which has caused a drop off in hospital visits for those seeking treatment for less serious conditions. However, over 2022 and 2023, annual growth in the market should accelerate to 3.5% on: (i) a rising concern among Thais over personal health and wellness, itself partly a side-effect of the Covid-19 pandemic; (ii) the aging of Thai society, which is driving an increase in the number of individuals needing treatment for chronic non-communicable diseases; (iii) the broad coverage provided by the Universal Health Coverage scheme; and (iv) the return of foreign patients to Thai hospitals.

Domestic demand for medical devices has continued to grow through 2025, driven in part by intermittent outbreaks of notifiable diseases and air pollution-related diseases