Thailand Cardiovascular Drugs Market Analysis Report 2022 to 2030

Thailand Cardiovascular Drugs Market Analysis

$ 3999

Thailand Cardiovascular Drug Market is at around $0.2 Bn in 2022 and is projected to reach $0.23 Bn in 2030, exhibiting a CAGR of 4.14% during the forecast period. Aging population, rise in cardiovascular diseases, and adoption of unhealthy lifestyle is propelling the market growth. The market is dominated by key players Silom Medical, Paradigm Pharma (THA), OLIC (THA), Interthai Pharmaceutical (THA), Pfizer Inc., Novartis, Sanofi, Astra Zeneca, Merck & Co., Zydus, and Lupin.

ID: IN10THPH007 CATEGORY: Pharmaceuticals GEOGRAPHY: Thailand AUTHOR: Aneri Parekh

Buy Now

Thailand Cardiovascular Drug Market Executive Summary

Thailand Cardiovascular Drug Market is at around $0.2 Bn in 2022 and is projected to reach $0.23 Bn in 2030, exhibiting a CAGR of 4.14% during the forecast period.

Thailand Cardiovascular Drug Market Analysis looks at the country's pharmaceutical industry for heart-related products. It explores market trends, important players, regulatory aspects, and the nation's overall economic influence on the cardiovascular medication industry. The purpose of this analysis is to shed light on Thailand's cardiovascular medication market's present situation as well as its potential going forward.

The cardiovascular drugs market is expanding steadily due to the aging population and rising incidence of cardiovascular illnesses. To take advantage of the increasing demand, major firms are concentrating on cutting-edge therapies. The government's attempts to expand healthcare infrastructure also add to the market's optimistic outlook.

The pharmaceutical industry is in charge of research, manufacturing, distribution, and drug discovery. Pharmaceutical revenue increased significantly over the past two decades, reaching $138.33 Bn globally in 2022. The aging population, growing knowledge of cardiovascular illnesses, and rising income levels are all expected to fuel growth in the cardiovascular medicine market in the country. By collaborating with international businesses and providing reasonably priced generics, local players are stepping up their competition. The dynamics of the market are being influenced by government initiatives like price controls and universal healthcare coverage.

Top companies in the market are Silom Medical, Paradigm Pharma (THA), OLIC (THA), Interthai Pharmaceutical (THA), Pfizer Inc., and Novartis. With a projected 12.4% market share in 2022, Silom Medical is among the top Thai pharmaceutical businesses in the cardiovascular medicine industry.

Thailand cardiovascular drug market

Market Dynamics

Market Growth Drivers:

Rising Cardiovascular Diseases: The need for cardiovascular medications is driven by the rising incidence of cardiovascular diseases in Thailand. In 2021, there were approximately 1,000 heart disease patients for every 0.1 Mn population in the country.

Aging Population: The market is boosted by the aging population's increased contribution to the incidence of cardiovascular diseases. Thailand is one of the nations that ages the fastest in the world. 12 Mn Thais, out of the country's 67 Mn residents, are elderly.

Unhealthy Lifestyle: Choosing unhealthy habits that increase risk factors drives up demand for heart-related drugs.

Market Restraints:

Regulatory Hurdles: New cardiovascular medicine approvals are hampered by regulatory barriers, which extend development times.

Stringent Safety Requirements: Cardiovascular drug research and development expenses are high due to strict safety and efficacy regulations.

Patent Expirations: Established cardiovascular treatments' market share and profitability are impacted by patent expirations and competition from generic drugs.

Healthcare Policies and Regulatory Landscape

Food and Drug Administration (TFDA) of Thailand is responsible for supervising the production, importation, and distribution of regulated goods, ensuring that they meet stringent safety and quality requirements. For new drug registrations, the Thai FDA needs rigorous documentation, ethics approval, and clinical studies. Thai translation is frequently needed for documentation and communication, which adds complexity and increases the chance of mistakes.

Competitive Landscape

Key Players:

Silom Medical
Paradigm Pharma (THA)
OLIC (THA)
Interthai Pharmaceutical (THA)
Pfizer Inc.
Novartis
Sanofi
Astra Zeneca
Merck & Co.
Zydus
Lupin

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

Thailand Cardiovascular Drug Market Segmentation

By Drug Type

Cephalosporins
Antihypertensive
Antihyperlipidemic
Anticoagulants
Antiplatelet Drug
Others

By Disease Indication

Hypertension
Hyperlipidemia
Coronary Artery Disease
Arrhythmia
Others

By Distribution Channel

Hospital Pharmacies
Retail Pharmacies
Online 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.