Thailand pharmaceutical packaging market size is projected to grow at a CAGR of 5.6% during 2023-2029

By material type, the plastic packaging segment generated the largest revenue share in the Thailand Pharmaceutical Packaging Market – 6Wresearch

Plastic packaging segment based on material type dominated the market, seizing the majority of revenue. Its popularity stems from being cost-effective and versatile, with plastic containers and blister packs widely used for various pharmaceutical products like tablets and capsules. Further, the flexible packaging category led the total market due to its adaptability for solid forms (tablets, capsules), liquids, creams, powders, and more, often proving to be a cost-efficient choice. Additionally, pharmaceutical manufacturers commanded a prominent position in Thailand's pharmaceutical packaging market, given their role as the primary producers of pharmaceutical products requiring packaging.

According to 6Wresearch, Thailand pharmaceutical packaging market size is projected to grow at a CAGR of 5.6% during 2023-2029. Thailand's healthcare expenditure as a percentage of GDP has shown a steady increase over the past decade, rising from approximately 3-4% in 2010 to over 5% in recent years. In absolute terms, this upward trajectory is evident, with healthcare spending climbing from around $12 billion in 2010 to over $30 billion in 2020. Projections suggest that this growth trend will persist, with estimates indicating that healthcare expenditure is poised to reach the range of $40-50 billion by 2025. The government plays a pivotal role as the primary source of healthcare funding, contributing around 60-70% of the total healthcare expenditure. Simultaneously, there is a noticeable uptick in private expenditure by households. To ensure comprehensive healthcare coverage for all citizens, the government has rolled out universal health coverage schemes. While these initiatives have significantly expanded access to essential services, they have also resulted in increased utilization and, consequently, escalated costs in the healthcare sector.

According to Abhishek Mishra, Senior Research Analyst, 6Wresearch, by packaging types, primary pharmaceutical packaging would witness growth in the coming years on account of minimal risk of interaction between the drug and the packaging material which would reduce the potential for adverse reactions in patients.

The Thailand Pharmaceutical Packaging Market (2023-2029) report provides an in-depth analysis with 20 figures and 8 tables, covered in 74 pages. The report comprehensively covers the market by material type, product type, packaging type, and end-users. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.