Thailand Oncology Therapeutics Market Report 2022 to 2030

Thailand Oncology Therapeutics Market Analysis

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By 2030, it is anticipated that the Thailand Oncology Therapeutics Market will reach a value of $426 Mn from $218 Mn in 2022, growing at a CAGR of 8.7% during 2022-2030. The Oncology Therapeutics Market in Thailand is dominated by a few domestic pharmaceutical companies such as Siam Bioscience, Chia Tai Group, and the National Cancer Institute of Thailand. The Oncology Therapeutics Market in Thailand is segmented into different types of cancer and different therapy type. The major risk factors associated with cancer are diet, alcohol, tobacco, air pollution, and physical inactivity. The demand for Thailand Oncology Therapeutics is increasing on account of the rise in initiatives taken by the Government of the country.

ID: IN10THPH042 CATEGORY: Pharmaceuticals GEOGRAPHY: Thailand AUTHOR: Dr. Vishwa Modhia

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Thailand Oncology Therapeutics Market Analysis Summary

By 2030, it is anticipated that the Thailand Oncology Therapeutics Market will reach a value of $426 Mn from $218 Mn in 2022, growing at a CAGR of 8.7% during 2022-30.

Thailand is an upper middle-income developing country located in Southeastern Asia bordering the Andaman Sea and the Gulf of Thailand. In Thailand alone, there were 190,636 new cancer cases in 2020. According to the Global Cancer Observatory, there will be 290,000 new cancer cases by 2040.

The National Cancer Institute of Thailand provides funding for specific cancer treatments such as chemotherapy and targeted therapies. The Thai Red Cross Society also provides financial assistance to cancer patients who require costly treatments. To improve cancer care in Thailand, the Thai government founded the National Cancer Institute of Thailand and the Universal Health Coverage Scheme. These initiatives are intended to increase cancer awareness, prevention, treatment, and patient support. Thailand's government spends 4.4% of its GDP on healthcare.

Thailand Oncology Therapeutics Market Analysis

Market Dynamics

Market Growth Drivers

The gold card universal healthcare plan of the National Health Security Office (NHSO) benefited at least 250,000 cancer patients in 2022, up from an annual average of 100,000 participants in the preceding five years. The cancer coverage on the gold card, which includes surgery, chemotherapy, and radiotherapy, originates from the NHSO board's "Cancer Anywhere" policy, which aims to provide quick care across the country. Thailand currently has 35 radiation therapy facilities: 16 in Bangkok, 13 in the north, two in the centre, two in the south, one in the east, and one in the west. Thailand has extremely affordable healthcare in comparison to many other countries around the world. As a result, it has become one of the world's top medical tourism destinations, particularly in the Asia-Pacific region. These aspects could boost Thailand's Oncology Therapeutics Market.

Market Restraints

Robotic-assisted thoracic surgery is rarely used due to high costs and a lack of funding. Surgeons have had limited experience with this procedure as well. The availability of drugs is another big concern in Thailand. Although all cancer drugs approved by the US Food and Drug Administration (FDA) for NSCLC therapy are also licenced and available in Thailand, the Thailand FDA approval process usually takes 2 to 3 years following the US FDA clearance. These factors may deter new entrants into the Thailand Oncology Therapeutics Market.

Competitive Landscape

Key Players

National Cancer Institute of Thailand: The National Cancer Institute of Thailand is a government-owned cancer centre located in Bangkok. The centre provides a comprehensive range of cancer treatments, including chemotherapy, radiation therapy, and surgery
Siam Bioscience: Siam Bioscience is a Thai biopharmaceutical company that develops and manufactures cancer drugs, including chemotherapy and targeted therapy drugs. The company is also involved in the production of COVID-19 vaccines
Chia Tai Group: Chia Tai Group is a Thai pharmaceutical company that produces and distributes a range of cancer drugs, including chemotherapy and targeted therapy drugs. The company also manufactures other medical products, such as vaccines and medical devices
Mega Lifesciences: Mega Lifesciences is a Thai pharmaceutical company that produces a range of cancer drugs, including chemotherapy and targeted therapy drugs. The company also produces other medical products, such as vitamins and supplements
Biolab: Biolab is a Thai biopharmaceutical company that specializes in the development and production of cancer drugs, including chemotherapy and targeted therapy drugs. The company also manufactures other medical products, such as vaccines and diagnostic kits

Notable Recent Deals

September 2022: The United States Trade and Development Agency (USTDA) announced a grant to Thailand's AMATA Corporation Public Company Limited (AMATA) for a feasibility study to establish a regional oncology centre in Chonburi Province. The aid from USTDA will help AMATA and Thailand achieve their aim of providing world-class cancer treatment to hundreds of thousands of individuals in the Lower Mekong Region. The USTDA study will provide AMATA with the essential data and analysis for the gradual installation of a new oncology centre, which will help Thailand achieve its goal of becoming a medical hub in Southeast Asia.

Healthcare Policies and Reimbursement Scenarios

The Food and Drug Administration (FDA) and the National Health Security Office manage the regulation and reimbursement of cancer therapies in Thailand (NHSO). In Thailand, the administrative body answerable for the endorsement and guideline of remedial items, including disease therapeutics, is the Food and Drug Administration (FDA), which is important for the Service of General well-being. In the public medical care framework, the expense of malignant growth therapies, including disease therapeutics, is covered by the Universal Coverage Scheme (UCS). The repayment of malignant growth therapeutics under the UCS framework in Thailand is dependent upon the National List of Essential Medicines (NLEM), which frames the qualified medications and the related paces of inclusion.

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

Oncology Therapeutics Segmentation

By Application (Revenue, USD Billion):

Blood Cancer
?Colorectal Cancer
Gastrointestinal Cancer
Gynaecologic Cancer
Breast Cancer
Lung Cancer
Prostate Cancer
?Others

By Drugs (Revenue, USD Billion):

Revlimid
Avastin
Herceptin
Rituxan
Opdivo
Gleevec
Velcade
Imbruvica
Ibrance
Zytiga
Alimta
Xtandi
Tarceva
Perjeta
Temodar
Others

By Therapy (Revenue, USD Billion):

Chemotherapy
Targeted Therapy
Immunotherapy
Hormonal Therapy
Others

By Route of Administration (Revenue, USD Billion):

Oral
Parenteral
Others

By Distribution Channel (Revenue, USD Billion):

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.