New York-based Pfizer Inc expects solid growth in all sectors of Thailand's pharmaceutical market next year after the healthcare industry was disrupted by political conflict this year.
"2014 has been a bit of a tough year. We started with political unrest," said Christian Malherbe, country head for Thailand and Indochina.
"Pharmaceutical companies chose to go to other places rather than Thailand. We saw a little bit of disruption, especially with hospitals."
But he said business had been returning over the past six months.
The overall pharmaceutical market is expected to be worth 133 billion baht this year with 7.5% growth. Pfizer has a market share of 7%.
Mr Malherbe believes the market in 2015 will be driven by demand for high-quality health care, more affordable medicines, greater awareness of diseases and Thailand's ageing population.
Pfizer Thailand's 2015 strategy will focus on all sectors including hospitals where innovative products will be introduced.
The company has developed its products in major areas such as oncology, immunology and inflammation, introducing two products to treat lung cancer this year.
Four or five new products will be launched in Thailand next year including medicines for lung cancer and tumours.
Mr Malherbe said Pfizer would also focus on drug stores and retail businesses, where saw opportunities from consumers' higher purchasing power.
The company said its corporate brand had been a major choice for consumers who bought medicines in stores, accelerating its sales growth in that segment.
"We increase access to medicines through pricing our products so that people can buy them," Mr Malherbe said.
The Board of Investment expects the value of the pharmaceutical market will significantly grow to 300 billion baht by 2020 as the government promotes Thailand as a medical hub.
Half of Thailand's pharmaceuticals are exported to Asean markets, particularly Myanmar (16%), Vietnam (15%) and Cambodia (8%).
Pfizer spends about 33 billion baht on research and development per drug.