pharma companies in Thailand
Pharmaceutical Company

Current Trend in Thailand’s Pharmaceutical Sector

Illness is ever ending. It will exist till human and animal life will remain on earth. Again, it has a tendency to increase. Thailand is no exception than other countries. It is experiencing the growing rate of both communicable and non-communicable diseases.

Diarrhea is one of the most contagious diseases which is followed by dengue and pneumonia. Again, there is a rise of high blood pressure, chronic obstructive pulmonary disease, diabetes, and cardiovascular disease.

The pharma companies in Thailand are experiencing the growth of elderly people. They are vulnerable to stroke, heart ailments, cancer, diabetes, etc. As per the Office of the National Economic and Social Development Board, people over 60 years will be around 13.5 million in 2023. Hence, it is obvious that the expenditure of their healthcare will increase simultaneously. The demand of domestic drug consumption rises manifold.

Let’s know what the top pharmaceutical companies in Thailand are:

Pfizer:It’s revenues in USD is around 288. The market share is 5.2%. Again, it’s growth since the year 2017 is around 5%.

GSK: The revenue in 2018 was 261. The market share is 4.8%. It’s growth since 2017 is 1%.

MSD: The revenue is USD 246. The market share is around 4.5%. Since 2017, it’s growth is 2%.

Novartis: Their revenues in USD is 222. The market share is approximately 4.1%. Their growth since 2017 is 1%.

Roche: The revenue is USD 201 with a market share of 3.7%.

Siam Bioscience: The revenue is USD 169 with a market share of 3.1%.

Sanofi Aventis: Their revenue is USD 164 with a market share of 3.0%.

Berlin Pharm: The revenue is USD 149 along with a market share of 2.7%.

Takeda: The revenueis USD 140 along with a market shareof 2.6%.

Sandoz: Their revenue is USD 125 with a market share of 2.3%.

Thai people are getting access to ameliorated treatment:

People of Thailand have ingress to ameliorated treatment channels under the system of universal health coverage. Majority of the rights to treatment come through various health insurance card like Gold Card.

The medical expenses of generic medicine supplier will undoubtedly increase. The expenses of private companies were increasing from 5.1% in 2019.

Again, foreign patients are returning in Thailand. Hence, the nation has got advantages in the areas of cost, service quality, and standards of treatment. Thailand pharmaceutical manufacturers are combining with Thai hospitals and specialized medical centers.

They are producing low costs pharmaceutical products but providing superior quality. In comparison to competing countries like Malaysia and Singapore, Thailand receives more foreign patients including medial and general tourists. It embraces about 80% of all kinds of international patients. These patients arrive from Europe, East Asia and Middle East respectively.

After COVID 19:

The need for medical attention is increasing for Thai people after COVID 19. The outbreak of new diseases and Corona concern have raised the urge to buy medication for treating illness. Again, people have become conscious of immunity boosters and are trying to stock vitamins, minerals and generic medicines to fulfil daily needs.

Pharma companies in Thailand are producing drugs locally along with importing of various medicines from outside. The investment support policies of the government are helping manufacturers as they are now free from corporate income tax for at least 5 years. It is under the measures of BOI investment promotion.

The new pharmaceutical industry of Thailand is the new S-curve industry involving the government investment plans in the particular area. The government is currently supporting Eastern Economic Corridor (EEC), a high-tech industrial group in terms of research, budget, and tax incentives.

Thailand has lowered consumption of imported drugs:

The Thai government is encouraging Thailand pharmaceutical manufacturers to produce original, superior value and out of patent drugs and bio-pharmaceuticals, especially those are in demand. Anti-cancer drugs have a good future. Capital groups are planning to advance necessary raw materials’ production for manufacturing medicines. The Pharmaceutical Organization and PTT Group have raised a medicine production factory. Cancer drugs are mainly produced here covering Chemotherapy, Monoclonal Antibodies and Targeted Therapy.

It is expected that SCG Group is going to invest in Biologics production. Bangkok Hospital Group is going to manufacture raw material substrate.

Local people are getting jobs in the pharmaceutical industry:

Medical engineers and doctors who have abundant knowledge in researching about vaccines and herbal preparations are accepted as bio-pharmaceuticals and medical precursors in this industry. The progress in Bioinformatics, Bio-pharma and Biomedical is helping in developing medical research as well as increased medication.

Conclusion:

There is no doubt that the generic medicine suppliers and the top pharmaceutical companies in Thailand are continuing their endeavour of producing high quality medicines locally. The market in Thailand is gradually gaining volume and investors are growingly increasing their expenditure in drug production and distribution.

pharmaceutical companies in Nigeria
Pharmaceutical Manufacturing

Challenges and prospects of pharma manufacture in Nigeria

Nigeria is the largest economy in Africa. It has a huge consumer market. In fact, Nigeria is considered the hotspot of the pharma industry in entire Africa. Unfortunately, the pharmaceutical companies have become victims of the recent recession.

The International Monetary Fund has decreased the GDP growth forecast of Nigeria to 1.8% in July 2016. Gathering the challenges faced by pharma manufacture in Nigeria:

  • Absence of immediate accessibility to pharmaceutical products
  • Lack of good quality of medicines
  • The extremely high price of imported medicines

The respective challenges have urged certain things related to political and public interests in Nigeria:

  • Promotion of self-sufficiency
  • Development of capacity of local industries
  • Creation of new jobs
  • Freedom of international medicine suppliers
  • Production of foreign exchange via local medicine exports

Pharmaceutical companies in Nigeria used to import dosage forms:

Majority of Nigeria’s developing countries used to import finished dosage forms till mid 20th century.

  • Tablets
  • Syrups
  • Powders
  • Suspensions
  • Creams
  • Capsules
  • Parenteral preparations
  • Suppositories
  • Ointments

There was a lack of strict focus on local production of processing equipment, necessary dosage forms, and raw materials. But, the recent days are experiencing a shift towards local production.

More than the top 20 pharmaceutical companies in Nigeria are manufacturing simple medicinal products presently. Still, large numbers of pharma products come from India, Europe, China, the USA, Brazil, Taiwan, Pakistan, and so on. Experts say that Nigeria has to go a long way in the matter of producing medicines locally and meet the health needs of the citizens.

Let’s look at the recent prospects on Nigeria:

Local government and private manufacturing laboratories and research organizations are competing with many reputed foreign companies. In fact, pharmaceutical exporters in Africa are distributing their locally produced products to other nations.

Training is being given to the pharmacists. Lots of workshops and educational programs are being held in African countries. Now, people are showing confidence in the locally manufactured medicines that are good in quality.

Now, in Nigeria, highly trained and registered pharmacists consult about analysis of drug production as well as quality assurance. They have the power to give certificates to the deserved pharmaceutical companies in Nigeria.

Presently, there are many local industries producing starches for gums, non-internal preparations, plastic containers, etc. Now, local manufacturers no longer receive certain drug excipients from other countries. The top 20 pharmaceutical companies in Nigeria are manufacturing finished products, excipient raw materials, specific dosage forms, etc. for exporting and local usage.

Nigeria is developing a comprehensive commercial model:

The leading pharma companies in Nigeria are revisiting the commercial model. They are coming up with innovative strategies for the country ensuring certain aspects.

Firstly, they are focusing on the actual ambition related to the global priorities and Nigeria’s present conditions.

Secondly, stress is being given to the main buyers and the value they can bring.

Thirdly, strategies are working on geographical conditions including districts and cities to prioritize.

Fourthly, improvement of the product portfolio is being done.

Fifthly, the experts are finding the right ways to address patients’ pain points easing their access to high quality pharmaceutical products.

Sixthly, they are researching the best sales and distribution model that can enable patients to the right healthcare solution.

Seventhly, stakeholders from local areas and international zones are taking interest in investing in Nigeria’s pharmaceutical industry. The pharma companies in Nigeria are approaching long-term partnerships with big medicine producers from India, Europe, China, etc. Extensive research is going on about the return on investment and sales growth.

Eighthly, specialist pharmacists are finding skill gaps and organizational flaws. They are planning for filling the potential gaps for the growth and development of Nigeria’s pharma industry.

Ninthly, plans are being held in order to reach milestones, targets, etc. to make the future pharma market better.

As per estimation, the Nigerian pharma market value can increase by approximately 9% each year. By the year 2026, it can reach around $3.6 billion. It will be the largest market in South Africa. Again, as per expert study and opinion, Nigeria will gain the power and capacity to contribute approximately $2.2 billion to pharmaceutical sales which will include prescription drugs and other products.

In short:

Nigeria is gradually overcoming the past and current challenges. The nation is progressing towards a strong pharmaceutical industry that can export good quality drugs at affordable prices. The pharmacists are getting training from internationally certified professionals. They are concentrating on boosting the local market so that entire Africa doesn’t have to import costly drugs from outside.

Many multinational pharma companies have set up their manufacturing units in Nigeria and are contributing a lot to increase the market capacity. Local people are given education and training so that they can be employed. People’s life is getting better as they can now avail proper healthcare at an affordable cost within the country.

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