Thailand Pharmaceutical Market Size & Outlook, 2024-2030
Thailand pharmaceutical market, 2018-2030 (US$M)
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Thailand pharmaceutical market highlights
- The Thailand pharmaceutical market generated a revenue of USD 8,930.0 million in 2024 and is expected to reach USD 13,929.1 million by 2030.
- The Thailand market is expected to grow at a CAGR of 7.7% from 2025 to 2030.
- In terms of segment, conventional drugs (small molecules) was the largest revenue generating molecule in 2024.
- Biologics & Biosimilars (Large Molecules) is the most lucrative molecule segment registering the fastest growth during the forecast period.
Pharmaceutical market data book summary
| Market revenue in 2024 | USD 8,930.0 million |
| Market revenue in 2030 | USD 13,929.1 million |
| Growth rate | 7.7% (CAGR from 2025 to 2030) |
| Largest segment | Conventional drugs (small molecules) |
| Fastest growing segment | Biologics & Biosimilars (Large Molecules) |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Biologics & Biosimilars (Large Molecules), Conventional Drugs (Small Molecules) |
| Key market players worldwide | Merck & Co Inc, Roche Holding AG, Novartis AG ADR, AbbVie Inc, Johnson & Johnson, Pfizer Inc, Bristol-Myers Squibb Co, Sanofi SA, GSK PLC, Takeda Pharmaceutical Co Ltd |
Other key industry trends
- In terms of revenue, Thailand accounted for 0.5% of the global pharmaceutical market in 2024.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China pharmaceutical market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 63,747.4 million by 2030.
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Pharmaceutical Market Scope
Pharmaceutical Market Companies
| Name | Profile | # Employees | HQ | Website |
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Thailand pharmaceutical market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to pharmaceutical market will help companies and investors design strategic landscapes.
Conventional drugs (small molecules) was the largest segment with a revenue share of 58.43% in 2024. Horizon Databook has segmented the Thailand pharmaceutical market based on biologics & biosimilars (large molecules), conventional drugs (small molecules) covering the revenue growth of each sub-segment from 2018 to 2030.
Thailand’s pharmaceutical market is experiencing strong growth, driven by increasing healthcare demand, rising investments in local manufacturing, a robust medical tourism industry, and government initiatives to promote the sector.
As the country strengthens its position as a regional pharmaceutical hub, significant investments, such as ACG’s new capsule manufacturing facility in Rayong in January 2025, further support Thailand’s expanding pharmaceutical and nutraceutical industries.
A key driver of Thailand’s pharmaceutical market is its growing population and rising healthcare needs. The country is witnessing an increase in chronic diseases such as diabetes, cardiovascular diseases, and cancer, leading to a higher demand for prescription medicines, biologics, and specialty drugs.
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Our clientele includes a mix of pharmaceutical market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Thailand pharmaceutical market , including forecasts for subscribers. This country databook contains high-level insights into Thailand pharmaceutical market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Thailand pharmaceutical market size, by molecule, 2018-2030 (US$M)
Thailand Pharmaceutical Market Outlook Share, 2024 & 2030 (US$M)
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