The Thailand pharmacy retail market reached around USD 5.90 Billion in 2024. The market is projected to grow at a CAGR of 4.90% between 2025 and 2034, reaching almost USD 9.52 Billion by 2034.
Thailand Pharmacy Retail Market Growth
Non - communicable diseases account for 400,000 fatalities annually in Thailand. With men being more susceptible to contracting these infections (18%) as compared to women (11%), a strong pharmacy market is essential for boosting the labour force productivity and driving economic growth. By 2031, nearly 30% of Thailand’s population is expected to be older than 60 years, leading to an increase in the demand for medical equipment and prescribed drugs.
The provision of home services for dispensing certain medications is also emerging as one of the key market trends. Moreover, the low cost of medications in Thailand is a significant opportunity for foreigners to avail high-quality treatment at a lower cost. This makes Thailand an attractive destination for seeking medical treatments.
With the integration of artificial intelligence and machine learning tools in pharmacies, manual tasks like cross-checking prescription papers and sorting the right medicines are expected to become automated, which can enable pharmacists to give expert guidance to patients regarding drug dosage and ingredients. The provision of primary care services and mental health packages is also expected to drive the market growth in the forecast period.
Thailand Pharmacy Retail Industry Segmentation
Thailand Pharmacy Retail Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type:
Online
Offline
Market Breakup by Product Type:
Prescribed Drugs
Over The Counter
Medical Equipment
Others
Thailand Pharmacy Retail Market Share
Based on type, the market is segmented into offline and online. The online pharmacy retail segment is anticipated to account for a substantial market share, due to its convenience, cost-effectiveness, and improved access to medication. Retailers are also shifting their operations to online channels to streamline operational processes, automate tasks, and lower overhead costs.
Leading Companies in the Thailand Pharmacy Retail Market
The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers and acquisitions, investments, and capacity expansion.
Walgreens Boots Alliance Inc.
Target Corporation
AS Watson Group
Central & Matsumoto Kiyoshi Co., Ltd.
Healthy Max
LAB Pharmacy
Others
The market participants are integrating advanced technologies such as artificial intelligence, data analytics, and retail pharmacy software, among others, to optimise inventory, provide accurate reporting, and digitise medical data.
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Asia Pacific Pharmacy Retail Market Overview
- 5.1 Key Industry Highlights
- 5.2 Asia Pacific Pharmacy Retail Historical Market (2018-2024)
- 5.3 Asia Pacific Pharmacy Retail Market Forecast (2025-2034)
- 6 Thailand Pharmacy Retail Market Overview
- 6.1 Key Industry Highlights
- 6.2 Thailand Pharmacy Retail Historical Market (2018-2024)
- 6.3 Thailand Pharmacy Retail Market Forecast (2025-2034)
- 7 Thailand Pharmacy Retail Market by Type
- 7.1 Online
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Offline
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 8 Thailand Pharmacy Retail Market by Product Type
- 8.1 Prescribed Drugs
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Over The Counter
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 Medical Equipment
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 8.4 Others
- 9 Market Dynamics
- 9.1 SWOT Analysis
- 9.1.1 Strengths
- 9.1.2 Weaknesses
- 9.1.3 Opportunities
- 9.1.4 Threats
- 9.2 Porter’s Five Forces Analysis
- 9.2.1 Supplier’s Power
- 9.2.2 Buyer’s Power
- 9.2.3 Threat of New Entrants
- 9.2.4 Degree of Rivalry
- 9.2.5 Threat of Substitutes
- 9.3 Key Indicators for Demand
- 9.4 Key Indicators for Price
- 10 Competitive Landscape
- 10.1 Supplier Selection
- 10.2 Key Global Players
- 10.3 Key Regional Players
- 10.4 Key Player Strategies
- 10.5 Company Profiles
- 10.5.1 Walgreens Boots Alliance Inc.
- 10.5.1.1 Company Overview
- 10.5.1.2 Product Portfolio
- 10.5.1.3 Demographic Reach and Achievements
- 10.5.1.4 Certifications
- 10.5.2 Target Corporation
- 10.5.2.1 Company Overview
- 10.5.2.2 Product Portfolio
- 10.5.2.3 Demographic Reach and Achievements
- 10.5.2.4 Certifications
- 10.5.3 AS Watson Group
- 10.5.3.1 Company Overview
- 10.5.3.2 Product Portfolio
- 10.5.3.3 Demographic Reach and Achievements
- 10.5.3.4 Certifications
- 10.5.4 Central & Matsumoto Kiyoshi Co., Ltd.
- 10.5.4.1 Company Overview
- 10.5.4.2 Product Portfolio
- 10.5.4.3 Demographic Reach and Achievements
- 10.5.4.4 Certifications
- 10.5.5 Healthy Max
- 10.5.5.1 Company Overview
- 10.5.5.2 Product Portfolio
- 10.5.5.3 Demographic Reach and Achievements
- 10.5.5.4 Certifications
- 10.5.6 LAB Pharmacy
- 10.5.6.1 Company Overview
- 10.5.6.2 Product Portfolio
- 10.5.6.3 Demographic Reach and Achievements
- 10.5.6.4 Certifications
- 10.5.7 Others
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