Declining birth rates and increasing life expectancy are among the rapidly shifting demographics shaping the economic direction of Asean countries. In Thailand, the percentage of the population older than 65 is forecast to be at 23.39 per cent by 2035, placing the country at second place among Southeast Asia’s ageing communities.
The trends offer tremendous possibilities for S. Charoen Group’s subsidiaries S. Charoen Bhaesaj Trading and Charoen Bhaesaj Lab. An early pharmaceutical products distributor and manufacturer in Thailand, the group is a trusted company with a reputation as one of the region’s niche solutions providers aiming to directly fill certain market needs. Known for Candinox1, Funginox Solution and many more, S. Charoen has led in anti-fungal medication, plasma derivatives and children’s health care products.
Covering a total of 3,600 active direct accounts including hospitals, clinics, drugstores, modern trade shops, supermarkets and convenience stores across Thailand, S. Charoen has strategic partners in South Korea, mainland China, Taiwan, Japan, Singapore, Germany, Italy, Spain and Britain.
“We have no hesitation on constantly making adjustments and relaunching products to fit with new market requirements, hence giving us outstanding products to market while maintaining our cost efficiency,” says Prasit Suntayodom, S. Charoen Bhaesaj Trading’s managing director.
Meanwhile, Charoen Bhaesaj Lab, which possesses certifications under the Pharmaceutical Inspection Co-operation Scheme and Good Manufacturing Practice system, also offers contract manufacturing services. It exports to Hong Kong, Macau, Malaysia, Singapore, Myanmar, Cambodia and Laos.
“Our facility offers flexible contract manufacturing service to create a competitive edge for international partners seeking to enter the Asean market,” says Pittaya Suntayodom, general manager of Charoen Bhaesaj Lab. “We also provide a highly dependable distribution system across the region.”
Aside from attracting the local medical industry with its reliable products, S. Charoen has also ventured into partnerships to develop herbal products. The pharmaceutical expert welcomes collaborations with international companies that are looking to penetrate the Thai market.