Biopharmaceutical Industry
THAILAND: HEALTHCARE DESTINATION
Thailand’s healthcare sector is one of the fast-growing sectors driven by soaring domestic demand. Like many other countries in Asia, Thailand is heading towards an aging society. In 2020, the proportion of citizens aged over 65 was 13%, and it is expected to increase to 30% in 20501. The rise of the aging population is associated with the demand for medical services in the decades ahead. As the number of elderly increases, they tend to develop certain conditions ranging from heart disease to blood clots, diabetes, and cancer. Biopharma products such as Tissue Plasminogen Activator, Insulin, and Therapeutic Antibodies are needed to treat diseases. Apart from internal factors, the global pandemic has underlined the necessity of the biopharma industry. The demand for vaccines has risen sharply. Thailand embraces these opportunities and leverages the potential to become a production base for vaccines, rapid tests, and genomic products. It successfully attracted investors such as AstraZeneca, KinGen Biotech, and Apsalagen.
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