Thailand Pharmacy Retail Market Report and Forecast 2025-2034

The Thailand pharmacy retail market reached around USD 5.90 Billion in 2024. The market is projected to grow at a CAGR of 4.90% between 2025 and 2034, reaching almost USD 9.52 Billion by 2034.

Thailand Pharmacy Retail Market Growth

Non - communicable diseases account for 400,000 fatalities annually in Thailand. With men being more susceptible to contracting these infections (18%) as compared to women (11%), a strong pharmacy market is essential for boosting the labour force productivity and driving economic growth. By 2031, nearly 30% of Thailand's population is expected to be older than 60 years, leading to an increase in the demand for medical equipment and prescribed drugs.

The provision of home services for dispensing certain medications is also emerging as one of the key market trends. Moreover, the low cost of medications in Thailand is a significant opportunity for foreigners to avail high-quality treatment at a lower cost. This makes Thailand an attractive destination for seeking medical treatments.

With the integration of artificial intelligence and machine learning tools in pharmacies, manual tasks like cross-checking prescription papers and sorting the right medicines are expected to become automated, which can enable pharmacists to give expert guidance to patients regarding drug dosage and ingredients. The provision of primary care services and mental health packages is also expected to drive the market growth in the forecast period.

Thailand Pharmacy Retail Industry Segmentation

Thailand Pharmacy Retail Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type:

• Online
• Offline

Market Breakup by Product Type:

• Prescribed Drugs
• Over The Counter
• Medical Equipment
• Others

Thailand Pharmacy Retail Market Share

Based on type, the market is segmented into offline and online. The online pharmacy retail segment is anticipated to account for a substantial market share, due to its convenience, cost-effectiveness, and improved access to medication. Retailers are also shifting their operations to online channels to streamline operational processes, automate tasks, and lower overhead costs.

Leading Companies in the Thailand Pharmacy Retail Market

The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers and acquisitions, investments, and capacity expansion.

• Walgreens Boots Alliance Inc.
• Target Corporation
• AS Watson Group
• Central & Matsumoto Kiyoshi Co., Ltd.
• Healthy Max
• LAB Pharmacy
• Others

The market participants are integrating advanced technologies such as artificial intelligence, data analytics, and retail pharmacy software, among others, to optimise inventory, provide accurate reporting, and digitise medical data.