The Thailand pharmacy retail market was valued at USD 6.19 Billion in 2025 and is expected to grow at a CAGR of 4.90%, reaching USD 9.99 Billion by 2035. The market growth is driven by the rising chronic disease burden and expanding universal healthcare access across the region.
Base Year
Historical Period
Forecast Period
Expanding digital infrastructure and rising chronic disease burden will boost nationwide demand for both OTC and prescribed retail medications.
The market growth is driven by increasing urban migrations and pharmacy automation in cities like Bangkok will elevate access to personalized and rapid dispensing services.
Regulatory streamlining and growing public-private investment will improve pharmacy density across underpenetrated regions, driving broader national retail coverage.
Compound Annual Growth Rate
4.9%
Value in USD Billion
2026-2035
*this image is indicative*
Thailand’s retail pharmacy sector comprises approximately 11,000 licensed private pharmacies, largely concentrated in urban regions such as Bangkok and Chiang Mai. These establishments operate as vital access points for daily medication dispensing, over-the-counter treatments, and basic health consultations. In addition to medication sales, they play an expanding role in chronic disease support, preventive care, and self-medication guidance. With consistent patient foot traffic and high product turnover, retail pharmacies have become essential components of the nation’s primary healthcare framework, particularly in supporting decentralized care delivery and managing minor health concerns efficiently. The market is anticipated to grow at a CAGR of 4.90% during the forecast period of 2026-2035.
Rise in Vaccination Drives by Government to Boost Market Value
Government vaccination initiatives are increasingly elevating the role of pharmacies in Thailand’s healthcare system. For instance, May 2025, the Ministry of Public Health, in collaboration with the National Health Security Office, launched a nationwide campaign offering free influenza vaccinations to 4.57 million high-risk individuals. These vaccinations are being dispensed not just at hospitals but also at local pharmacies and clinics. Such policies broaden the clinical function of retail pharmacies, reinforces their role as trusted community health hubs, increases patient footfall, and expands market opportunities beyond traditional drug dispensing services.
The market trends include increasing adoption of digitization and automation among others.
Automation and Digitalization Accelerating the Thailand Pharmacy Retail Market Development
Growing adoption of automated technologies and increasing demand for safe, efficient medicine dispensing are key market enablers. For instance, in September 2024, Bangkok Hospital introduced an automated packaging and dispensing system to enhance pharmacy operations, reduce human error, and increase dispensing efficiency. This system also improves medicine accuracy and shortens patient wait times. The integration of such technologies elevates operational capacity and patient trust, reinforcing Thailand’s pharmacy infrastructure and driving the digital transformation of retail pharmacy services across both urban and emerging healthcare zones.
Offline Segment to Lead the Market by Type
The offline segment is expected to dominate the market due to Thailand’s extensive physical pharmacy network and public reliance on in-person consultations. The country's structured healthcare delivery, supported by thousands of private drugstores and hospital-linked dispensaries, ensures wide geographic accessibility and real-time prescription fulfilment. Offline pharmacies also remain the preferred channel for chronic care, controlled substances, and professional advice, particularly in rural and aging populations. Limited digital literacy and trust concerns around online medication further strengthen the offline segment’s lead in market share and consumer preference.
The key features of the market report comprise strategic initiatives by the leading players. The major companies in the market are as follows:
Headquartered in Deerfield, Illinois, Walgreens Boots Alliance operates the Boots retail pharmacy chain in Thailand. The brand provides a wide range of over-the-counter and prescription medications, personal care products, and wellness services. Through local partnerships, Boots has expanded its footprint across major Thai cities, particularly in Bangkok and Chiang Mai. The company emphasizes in-store professional consultations, health product accessibility, and retail pharmacy convenience, maintaining a strong presence in Thailand's growing consumer health segment.
Founded in 1902 and based in Minneapolis, Target Corporation primarily operates in the United States but has explored limited international ventures through localized partnerships. In the context of the Thai market, Target's presence remains minimal or experimental, often focused on pilot collaborations in consumer retail. While not a core pharmacy operator in Thailand, its potential interest lies in leveraging global retail capabilities and partnerships to explore Southeast Asia’s evolving healthcare retail ecosystem.
AS Watson Group, headquartered in Hong Kong and established in 1841, is Asia’s largest health and beauty retailer. It operates Watsons Thailand, a widespread pharmacy and personal care chain with hundreds of outlets nationwide. The brand offers prescription and OTC medicines, health supplements, and beauty products, catering to a wide demographic. Watsons emphasizes professional in-store consultations and loyalty programs, contributing to its dominance in Thailand’s organized retail pharmacy landscape.
Central & Matsumoto Kiyoshi Co., Ltd. is a joint venture formed in 2018 between Thailand’s Central Group and Japan’s Matsumoto Kiyoshi Holdings. Headquartered in Bangkok, the company operates a network of modern pharmacy stores in Thailand’s premium shopping malls and urban centers. It offers Japanese and local health products, skincare lines, and pharmacy services. The venture has positioned itself as a high-end retail pharmacy provider, targeting health-conscious and brand-aware consumers in Thailand.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other players in the market include Healthy Max, LAB Pharmacy, and Walmart Inc., among others.
"Thailand Pharmacy Retail Market Report and Forecast 2026-2035" offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Product Type
Market Breakup by Category
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Product Type |
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| Breakup by Category |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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