Community Pharmacy joins Informa Markets to drive Thailand’s
New S-Curve and make Thailand the medical hub of ASEAN
Community Pharmacy Public Company Limited, one of the leading manufacturers and distributors of pharmaceuticals and health products in Thailand, aims to achieve one-billion-baht income and 15% annual growth rate by 2025. As part of this goal, the manufacturer will participate in the CPHI South East Asia 2024, the regional pharmaceutical exhibition held by Informa Markets Thailand, to showcase of its production and distribution capability at and promotes Thailand’s New S-Curve industries, supporting the country’s strategic plan to become the regional medical hub of ASEAN. CPHI South East Asia 2024 is scheduled for 10-12 July 2024 at Hall 1-3, Queen Sirikit National Convention Center, Bangkok, Thailand.
Ms. Rungphech Chitanuwat, Regional Portfolio Director – ASEAN and Country General Manager – Philippines, Informa Markets, disclosed that Thailand’s pharmaceutical industry has enjoyed continuous growth driven by the development of aged society, health trend and the rising number of non-communicable disease (NCDs) patients who need high quality drugs for continuous treatment. More importantly, the demand for pharmaceutical products in other countries, especially Southeast Asia, is remarkably increasing. These are key factors that enhance the future growth of Thai pharmaceutical industry.
“Thai pharmaceutical industry has high potential in terms of research and development, strong international recognition for its high-quality standard. At the same time, it is possible for the country to make it the New S-Curve industry that adds value and generate more income to Thai economy in the long run. In the end, this will enable Thailand to achieve its goal of becoming the regional medical hub,” said Rungphech.
CPHI South East Asia 2024 is a fully integrated trading and conference platform for people in pharmaceutical industry in Southeast Asia. This annual event expects a number of producers, distributors and innovators in the pharmaceutical and related businesses showcasing innovations, technologies, products and equipment. The event will also put Thailand’s pharmaceutical industry on the world map and enable Thais to have easier access to high quality pharmaceutical products.
Mr. Surachai Ruengsuksilp, Executive Director of Community Pharmacy Public Company Limited, noted that Thailand’s total pharmaceutical market value is worth 240 billion baht. Out of this, 70% (168 billion baht) is imported from other countries while the remaining 30% (72 billion baht) is locally produced. The market value continues to grow by 11% per year. Pharmaceutical in hospital market grows by 15% per year while OTC market grows by 5% per annum.
IQVIA statistics reported in Q3/2023 forecasting that Thailand’s pharmaceutical industry would grow by 11% per annum.
To capture the opportunity presented by such trend, Community Pharmacy sets a goal of achieving one-billion-baht income by 2025, a remarkable growth rate of 15% per year. The manufacturer currently has more than 145 items (SKU) of high-quality pharmaceutical products and many more in the pipeline. The company’s product portfolio ranges from modern medicine like Apixa CCP anticoagulants, Rovas lipid lowering drugs, Amplopress, Enalapril, Apreszine blood pressure medicine, and Glycediab for diabetes treatment, to herbal products like Bee ‘en Plus, etc.
Majority of its products are sold to domestic clients, including hospital (55%) and drug stores (45%), such as Health Up, Pure, iCare and Bangkok Drug Store. Export, meanwhile, remains lower than 10% of its total production.
“We have been working hard for more than five years to prepare ourselves to be ready to develop and produce new molecule drug formula with high efficacy and safety whose patent protection will soon expire. This will increase Thai consumers’ accessibility to effective drugs. At the same time, this will help lower costs for senior patients who account for more than 14% of the total population in Thailand and will jump to 28% in the next six years, which is similar to Japan. Considering this trend, the demand for medicine for NCDs will be increasing in the future,” said Surachai.
Through its participation in CPHI South East Asia 2024, Community Pharmacy will demonstrate its potential in medicine research and development capability and strong commitment driving Thailand to becoming the medical hub of ASEAN. The manufacturer will bring the newest products, Apixaban 2.5 mg and Apixaban 5 mg, its latest anticoagulants which are proven to be highly effective in preventing clotting in blood vessels in the brain. Community Pharmacy is one among a few Thai manufacturers with the capability to produce this drug in Thailand.
“It all started from inspiration of a group of community pharmacists and then Community Pharmacy was established in 1983. We have strong commitment to producing good drug with high quality and increasing accessibility to effective and affordable drugs for Thai consumers. We hope to help reduce trade deficit from drug imports and meanwhile enhance local pharmaceutical industry’s capability and competitiveness, especially in terms of quality, service and affordability,” said Surachai.
Come and experience fascinating pharmaceutical innovations and technologies and gain new business opportunities at CPHI South East Asia 2024, a fully integrated trading and conference platform for people in pharmaceutical industry in Southeast Asia. The event is scheduled from 10-12 July 2024 at Queen Sirikit National Convention Center.
Registration to attend CPHI South East Asia 2024, click https://bit.ly/3vXpjvA
