Major Hospitals such as Samitivej launched its Virtual Hospital Application, therefore, offering teleconsultation, blood testing, and medicine delivery services.
Growth in Telemedicine Industry: Telemedicine program in Thailand was initiated in March of 2019, a joint effort of the Public Health Ministry and National Broadcasting & Telecommunications Commission (NBTC). According to WHO standards, communities should have 1 doctor for every 439 people, however; there is only 1 doctor for every 2,065 people in Thailand. The country officially implemented telemedicine programs at 32 hospitals in rural areas in 8 provinces with a complete legalization framework, thus, encouraging the adoption of new technologies & remote patient monitoring and medical care. These provinces include Chiang Rai, Kamphaeng Phet, Kanchanaburi, Kalasin, Phetchabun, Surin, Songkhla, and Surat Thani. 32 hospitals involved in the telemedicine program consisted of 15 sub-district health-promoting hospitals, 5 community hospitals, 8 provincial hospitals, and lastly, 4 primary health clusters.
Collaborations & Partnerships: Partnerships of pharmacies with online consultation & E-prescription companies is growing in Thailand, for instance, AIA Thailand partnered with True Digital Group & Samitivej to launch a free-to-use tele-consultation service, as a Virtual COVID-19 Clinic in April 2020 wherein service was made available for use from 8 April to 10 May 2020 in the country. Amidst the COVID pandemic, health care providers observed a shift in consumer behavior, where people are now accepting more digital services such as online / E-consultation, medication delivery & Covid-19 screening services.
Thai hospitals and medical institutions are offering care with digitalized process, AI and big data technology to assist as well as improve medical consultancy, diagnosis and overall services. In addition, Thai government has introduced many measures to facilitate tourists to visit Thailand for medical services through extension of permitted period of stay and long-stay visas thereby, driving revenue within healthcare sector.
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.
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:-
Thailand Pharmacy Retail Market Growth
Related Reports by Ken Research: –
Contact Us: –
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
