Consumer health witnesses strong value growth
Consumer health continued to achieve strong performance with double-digit growth in current value terms, due to the good economic situation in Thailand despite the severe impact from the floods during 2011. Brand players in both OTC drugs and vitamins and dietary supplements also made every effort to drive demand, evident from the maintenance of competitive prices including promotional discounts in vitamins and dietary supplements, weight management and sports nutrition. The key driver fostering the growth of overall consumer health can be described as the greater awareness of health and wellness amongst Thai consumers, attributed to higher educational standards and the endeavour of brand owners to supply consumers with product benefits alongside the proliferation of brands to tap various needs of each consumer group at different price points and delivery formats.
Unchanged hectic lifestyles expose more Thai consumers to risk of ailments
During the review period, many Thai consumers in the working class were shackled with hectic schedules of routine working hours without comfortable time for exercise and adhering to the healthy dietary habits since they face the pressure from the rising cost of living. The unbalanced dietary practices and sedentary lifestyle in the workplace force more Thai consumers to gain exposure to chronic diseases and overweight problems, contributing to the upsurge in the cost of healthcare. As a result, the Thai public tends to be more aware of healthy lifestyles where vitamins and dietary supplements mainly act in the role of preventive measures to shield consumers from serious illness. More Thai consumers incline to rely more on self-medication such as purchasing medicine without a prescription to cure their minor symptoms since this practice is deemed more convenient than queueing for a check-up by a doctor.
International players dominate consumer health
Multinational companies continued to dominate consumer health with greater shares during the review period. In general, Thai consumers view international brands as the choices with superior efficacy guaranteed by their global presence and their leading-edge technology. Furthermore, leading international players also leveraged their sizable budgets for marketing activities to strengthen their brand awareness. Establishing a brand ambassador was one of the effective strategies that companies employed during the review period to associate their brands to younger target consumers who demand improvement of their cognitive function. However, local consumer health products, including generic drugs produced domestically, continued to gain wide acceptance in Thailand due to their more affordable price.
Non-grocery retailers continue to exhibit large value sales contribution
Chemists/pharmacies and parapharmacies/drugstores remained the largest contributors to value sales during the review period, given their wide availability nationwide. The pharmacists play an important part in recommending brands in consumer health to consumers. Therefore, it is imperative for brand players in consumer health to maintain close collaboration with these key channels. Thai consumers typically opt to purchase consumer health from independent chemists/pharmacies, considering their cheaper price compared to chained pharmacies and parapharmacies. Direct selling also acts as the key channel generating large value sales to the vitamins and dietary supplements and weight management categories, attributed to the attractive incentives of marketing schemes and campaigns.
Trend for health and wellness fosters positive momentum
Long life and a healthy lifestyle will be the aspiration of more Thai consumers who seek good health and a sound mind. Thai consumers in major cities are unlikely to escape the hectic lifestyles with long working hours over the forecast period as they are forced to adopt an unbalanced lifestyle with poor dietary habits and the lack of exercise. Therefore, Thai consumers are likely to invest more in consumer health products at a younger age rather than paying higher for a lump sum amount of health care at an older age, creating an optimistic outlook for brands in OTC drugs as well as vitamins and dietary supplements to ride the wave of health awareness over the forecast period.
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The Consumer Health in Thailand market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
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- What are the major brands in Thailand?
- What are the main trends in OTC Healthcare?
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This industry report originates from Passport, our Consumer Health market research database.