Reference
·Supporting source
Thailand pharma manufacturing CAGR forecast (2024-2027)
~6-7% CAGR
Krungsri Research projects approximately 6-7% compound annual growth rate (CAGR) for Thailand pharmaceutical manufacturing factory-gate revenue across 2024-2027 in its 2024 sector outlook, faster than the ~3% GDP growth path. Drivers cited include the aging-population chronic disease load (cardiometabolic, oncology, renal), NLEM-driven generic substitution as branded originals lose patent protection, BOI Future Medicine biosimilar capacity ramp, and incremental export to ASEAN MRA destinations. Headwinds flagged include API import cost pass-through, baht FX volatility, and OIC-driven downward pressure on retail pharma pricing.
Figure in context
Krungsri Research projects approximately 6-7% compound annual growth rate (CAGR) for Thailand pharmaceutical manufacturing factory-gate revenue across 2024-2027 in its 2024 sector outlook, faster than the ~3% GDP growth path. Drivers cited include the aging-population chronic disease load (cardiometabolic, oncology, renal), NLEM-driven generic substitution as branded originals lose patent protection, BOI Future Medicine biosimilar capacity ramp, and incremental export to ASEAN MRA destinations. Headwinds flagged include API import cost pass-through, baht FX volatility, and OIC-driven downward pressure on retail pharma pricing.
Krungsri Research projects approximately 6-7% compound annual growth rate (CAGR) for Thailand pharmaceutical manufacturing factory-gate revenue across 2024-2027 in its 2024 sector outlook, faster than the ~3% GDP growth path. Drivers cited include the aging-population chronic disease load (cardiometabolic, oncology, renal), NLEM-driven generic substitution as branded originals lose patent protection, BOI Future Medicine biosimilar capacity ramp, and incremental export to ASEAN MRA destinations. Headwinds flagged include API import cost pass-through, baht FX volatility, and OIC-driven downward pressure on retail pharma pricing.
Time scope
Forecast 2024-2027
Source basis
Supporting source
Interpretation notes
What this tells you
Krungsri Research projects approximately 6-7% compound annual growth rate (CAGR) for Thailand pharmaceutical manufacturing factory-gate revenue across 2024-2027 in its 2024 sector outlook, faster than the ~3% GDP growth path. Drivers cited include the aging-population chronic disease load (cardiometabolic, oncology, renal), NLEM-driven generic substitution as branded originals lose patent protection, BOI Future Medicine biosimilar capacity ramp, and incremental export to ASEAN MRA destinations. Headwinds flagged include API import cost pass-through, baht FX volatility, and OIC-driven downward pressure on retail pharma pricing.
What not to do with it
Krungsri Research base case. Bull case (~9%) assumes faster Future Medicine ramp; bear case (~4%) on API cost shocks.
Related figures
Adjacent numbers that add context without drowning the value.
Thailand pharmaceutical manufacturing factory-gate revenue (2020-2024)
Thai FDA, Pharmaceutical Research and Manufacturers Association of Thailand, Krungsri Research, Bangkok Post pharma coverage
Thailand pharmaceutical generic vs branded mix (2024)
PReMA, IQVIA Thailand, Thai FDA, Government Pharmaceutical Organization
Thailand pharmaceutical manufacturer revenue share (2024)
PReMA, Thai FDA, GPO annual report, Mega Lifesciences, industry estimates
BOI Future Medicine approved projects (2020-2024)
Thailand Board of Investment, BOI Future Medicine sector briefing, NESDC
Thailand FDA GMP-certified pharmaceutical facility count (2024)
Thai FDA Drug Control Division, PIC/S accession documentation, PReMA, industry estimates
Siam Bioscience vaccine output capacity (2024)
Siam Bioscience disclosures, PReMA, Bangkok Post pharma coverage, WHO prequalification listing
Report context
Atlas actors in this figure's reports
Profiles covered in the report that cite this number.