Thailand Cardiovascular Diseases Therapeutics Market Report 2022 to 2030

Thailand Cardiovascular Diseases Therapeutics Market Analysis

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The Thailand cardiovascular disease therapeutics market is projected to grow from $195 Mn in 2022 to $350 Mn in 2030 with a CAGR of 7.56% for the year 2022-2030. The increasing elderly population and the rising demand for novel therapeutic options for cardiovascular diseases are the major market drivers for the growth of the market. The Thailand cardiovascular disease therapeutics market is segmented by disease indication, drug type, route of administration, drug classification, mode of purchase, and by the end user. Silom Medical, Onimax, and Sun Pharmaceutical are the major players in the Thailand cardiovascular disease therapeutics market.

ID: IN10THPH033 CATEGORY: Pharmaceuticals GEOGRAPHY: Thailand AUTHOR: Dr. Parul Choudhary

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Thailand Cardiovascular Disease Therapeutics Market Executive Analysis

The Thailand cardiovascular disease therapeutics market is at around $195 Mn in 2022 and is projected to reach $350 Mn in 2030, exhibiting a CAGR of 7.56% during the forecast period. The Universal Coverage Scheme will receive $6 Bn in the fiscal year 2023, an increase of 4.12% from the prior year, as authorized by the Thai cabinet. The budget for the 2023 fiscal year is planned to include funding for medical innovation, a telemedicine program, and the promotion of medicinal cannabis in addition to improvements to the universal healthcare system's services. Additionally, it allocates funds for the Government Pharmaceutical Organization to buy immunizations, medications, and medical equipment. The proposed budget would give 145.2 Bn baht to the National Health Security Fund and 61.8 Bn to cover salary expenses.

Thailand has a very high prevalence of hypertension (HTN). One in four Thais had HTN in 2015, but less than one in three had their blood pressure under control, according to the National Health Examination Survey. Furthermore, only about half of adult Thais with HTN were even conscious of having elevated blood pressure. Since the majority of HTN patients don't exhibit any signs, HTN is a silent killer. The blood pressure and pulse rate are both lowered by ACE inhibitors and beta blockers. Calcium channel blockers cause blood arteries to relax, which lowers blood pressure. Nitrates, like nitroglycerin, widen the coronary arteries and lessen or stop angina-related chest discomfort. The chest discomfort that may result from coronary microvascular disease is treated with ranolazine. Statins or non-statin therapies regulate high blood cholesterol.

Thailand Cardiovascular Disease Therapeutics Market Analysis

Market Dynamics

Market Growth Drivers

Thailand's population is growing, with a rising proportion of residents over 65. Cardiovascular disease therapeutics are more in demand because this group has a higher risk of developing cardiovascular illnesses. To enhance the general health of its people, the Thai government has been increasing its spending on healthcare, including cardiovascular disease therapeutics. This increased spending is anticipated to fuel growth in the Thailand cardiovascular disease therapeutics market.

Market Restraints

Despite the introduction of a national healthcare program in Thailand, there might be restrictions on coverage and reimbursement rates for particular treatments or services, which could restrict access to therapeutics for cardiovascular disease. Therapeutics for cardiovascular illness can be expensive, especially when using cutting-edge methods. This may make these treatments less accessible, especially for those with restricted financial means. It can be difficult and time-consuming to navigate Thailand's regulatory scenario for treatments for cardiovascular disease. This may restrict the ability of businesses to launch new products by raising entry barriers for new ones.

Competitive Landscape

Key Players

Paradigm Pharma (THA)
OLIC (THA)
Interthai Pharmaceutical (THA)
Silom Medical (THA)
Onimax (THA)
Sun Pharmaceutical
Novartis
Mylan
Teva Pharmaceutical
Zydus
Pfizer
Lupin

Healthcare Policies and Regulatory Landscape

The Universal Coverage Scheme (UCS), which was established in 2001 to provide universal healthcare coverage to all citizens, mainly governs cardiovascular care and reimbursement in Thailand. All Thai citizens have access to essential healthcare services, including cardiovascular care, through the UCS program. The UCS program reimburses for a variety of medical services, including cardiovascular treatment. For some therapies or services, there might be restrictions on coverage and reimbursement rates. For some treatments, patients might also need to cover co-payments or other out-of-pocket costs.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Cardiovascular Disease Therapeutics Segmentation

By Disease Indication (Revenue, USD Billion):

Hypertension
Coronary Artery Disease
Hyperlipidaemia
Arrhythmia
Others

By Drug Type (Revenue, USD Billion):

Antihypertensive
Anticoagulants
Antihyperlipidemic
Antiplatelet Drugs
Others

By Route of Administration (Revenue, USD Billion):

Oral
Parenteral
Others

By Drug Classification (Revenue, USD Billion):

Branded Drugs
Generic Drugs

By Mode of Purchase (Revenue, USD Billion):

Prescription-Based Drugs
Over-The-Counter Drugs

By End Users (Revenue, USD Billion):

Hospital Pharmacies
Online Pharmacies
Retail Pharmacies
Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.