Thailand Liver Diseases Therapeutics Market Analysis

Thailand Liver Disease Therapeutics Analysis Summary

By 2030, it is anticipated that the Thailand Liver Disease Therapeutics market will reach a value of $44 Mn from $28 Mn in 2022, growing at a CAGR of 6% during 2022-30.

Thailand is an upper middle-income developing country located in Southeastern Asia bordering the Andaman Sea and the Gulf of Thailand. Liver disease is a significant health issue in Thailand, with chronic hepatitis B and C being the leading causes. The prevalence of chronic hepatitis B in Thailand is estimated to be around 3-5 %, while the prevalence of chronic hepatitis C is around 0.9 %. Both diseases can result in liver cirrhosis and cancer. Thailand appears to have a sizable medical tourism industry, with applications offering liver transplants and other procedures with costs included online.

The Thai Association for the Study of the Liver is working to increase knowledge about liver diseases and treatments. According to the latest WHO data published in 2020 Liver Disease Deaths in Thailand reached 17,596 or 3.95% of total deaths. The age-adjusted Death Rate is 17.93 per 100,000 population ranks Thailand 96^th in the world. Thailand's government spent 4.4% of its GDP on healthcare in 2020.

Market Dynamics

Market Growth Drivers Analysis

Liver diseases are fairly common in Thailand. It appears as though the course of treatment is the same in Thailand as it is in other developed countries, although the mortality rate is quite high at 10 % Physicians are available by appointment and after hours. A liver transplant is also an option for patients that are in need. The breakdown in payment for liver transplants between 2016-2018 is split between the CSBS (48 %) social insurance (10 % ) and self-pay (27 % ) and other financial support (13 % ). Thailand is a regional centre due to its long coastlines and proximity to rapidly rising Asian markets. These aspects could boost Thailand's Liver Disease Therapeutics market.

Market Restraints

The high cost of liver disease therapy, particularly antiviral medicines for viral hepatitis, is a constraint in the Thai market. While the government has implemented initiatives to minimise treatment costs and expand access to these medicines for those in need, treatment costs can still be a barrier for some patients, particularly those without appropriate health insurance. Thailand's high reputation for corruption, as well as its large informal sector, pose a risk to businesses. These factors may deter new entrants into the Thailand Liver Disease Therapeutics market.

Competitive Landscape

Key Players

• Chulalongkorn Hospital: Chulalongkorn Hospital is one of the largest public hospitals in Thailand and has a dedicated liver clinic that provides comprehensive liver care services. The hospital offers liver transplantation, liver cancer treatment, and other liver-related therapies
• Bumrungrad International Hospital: Bumrungrad International Hospital is a private hospital that offers a range of liver therapeutic services, including liver transplant, liver cancer treatment, and liver biopsy
• Siriraj Hospital: Siriraj Hospital is a public hospital located in Bangkok, Thailand, that offers liver transplantation, liver cancer treatment, and other liver-related therapies
• Mega Lifesciences: Mega Lifesciences is a Thai pharmaceutical company that develops and produces a range of liver therapeutics, including drugs for the treatment of liver cancer and hepatitis
• BioNet-Asia: BioNet-Asia is a Thai biotechnology company that focuses on the development and production of liver therapeutics. The company's product portfolio includes drugs for the treatment of liver diseases such as hepatitis B and C

Recent Notable Updates

December 2022: Pharmaniaga LifeScience, a wholly-owned subsidiary of Pharmaniaga Berhad (Pharmaniaga), Malaysia's top pharmaceutical firm, has engaged in a research partnership agreement with BioNet-Asia for the development of a 6-in-1 Hexavalent Vaccine. The vaccine will give Malaysian healthcare practitioners the finest alternative for immunising children against six deadly childhood diseases. The initiative, which is in line with Pharmaniaga's plan to build the world's first Halal vaccine and insulin plants, will also help Malaysia achieve its goal of becoming vaccine self-sufficient by reducing Malaysia's reliance on importing essential lifesaving vaccines and insulins from outside Malaysia. Furthermore, vaccine manufacture in-country will significantly improve vaccine security against future pandemic risks.

Healthcare Policies and Reimbursement Scenarios

Thailand's health service infrastructure consists of three components: government health services, non-profit health organizations and the private medical centre. In Thailand, the Food and Drug Administration (FDA) is responsible for approving drugs and medical devices, including those used for liver disease treatment. The FDA has a well-defined regulatory framework and drug approval process in place, which ensures the safety and efficacy of the drugs. The reimbursement is available through the country's universal healthcare program, which covers over 99% of the population. However, the reimbursement policy for some newer treatments, such as direct-acting antivirals (DAAs) for hepatitis C, may be limited or restricted.