Bangkok Lab & Cosmetics (BLC) is set to showcase its modern medicine products, including innovative Thai herbal medicines from the BLC Research Center, at CPHI South East Asia 2024, a leading pharmaceutical industry exhibition held in July 2024. BLC aims to propel Thailand’s position as a medical hub. The company is also introducing new skin disease treatment and sunscreen products into the market in the second half of the year, strengthening its leadership in the medicine and health product sector.
Mr. Suwit Ngamphuphan, CEO of BLC, a leading manufacturer and distributor of pharmaceutical products, encompassing generic drugs, herbal products, veterinary drugs, dietary supplements, cosmetics, and other health products, highlighted the significance of CPHI South East Asia 2024 as a platform for networking, innovation exchange, and forging new partnerships within the Southeast Asian pharmaceutical industry. This year marks BLC’s fourth participation in the event, where they will present innovative pharmaceutical and herbal products developed at the BLC Research Center. This emphasis on research and development of Thai herbal products using modern production techniques underscores BLC’s commitment to driving industry competitiveness and promoting Thailand as a sustainable medical hub.
BLC’s CEO predicts a robust growth trajectory for the Thai pharmaceutical industry, with an annual growth rate of 6-7% over the next three years. This growth is attributed to Thailand’s aging population, increasing health awareness, and rising prevalence of chronic diseases. The demand for affordable generic drugs, which offer similar properties to original medications at a lower cost, is expected to play a significant role in improving access to medical treatment and driving the domestic pharmaceutical industry’s growth. Moreover, BLC identifies strong potential for exports to the ASEAN region, known for its robust growth prospects.
BLC is committed to sustained growth through a combination of new product launches, brand awareness campaigns, proactive marketing initiatives, and market expansion both domestically and internationally. In the second half of the year, BLC plans to introduce innovative skin disease treatment products targeting fungal infections, aiming to capture a market share of 5.9% by the end of 2024 and achieving further growth in 2025.
Recognizing the growth potential of the sunscreen market in Thailand, BLC has developed MOMOR TRIPLE SUNCARE PERFECT UV SUNSCREEN SPF 50+ PA++++, a hybrid sunscreen combining sun protection, oil control, and nourishing properties. The product leverages the power of pumpkin seed extract, extracted using a special process and formulated by BLC’s team of cosmetic researchers. The blend of herbs delivers gentle skin care while the Supercritical Fluid Extraction (SFE) technique ensures concentrated extracts for targeted nourishment. BLC employs a comprehensive 4P strategy to promote the product, focusing on product features, competitive pricing, targeted promotions, and strategic distribution via online channels initially, with plans to expand to modern trade channels.
Pharmacist Suwit emphasizes BLC’s commitment to innovation and leadership in Thai herbal medicine, seamlessly merging traditional wisdom with modern technology to deliver high-quality, affordable products to Thai consumers. BLC’s participation in CPHI South East Asia 2024 serves as a platform to showcase the potential of Thai herbs on a global stage and contribute to Thailand’s ambition to become a regional medical hub.
BLC Showcases Innovative Medicines & Thai Herbal Products at CPHI South East Asia 2024
Bangkok Lab & Cosmetics Public Company Limited (BLC), a leading manufacturer and distributor of pharmaceuticals, herbal products, and health products, is participating in CPHI South East Asia 2024, a prominent pharmaceutical industry exhibition and conference held from July 10-12, 2024 at the Queen Sirikit National Convention Center.
BLC’s Commitment to Innovation and Thailand’s Medical Hub Aspirations
BLC’s participation in the event underscores its commitment to showcasing its diverse portfolio of innovative products, encompassing current pharmaceuticals, herbal innovations from its BLC Research Center, and comprehensive health products. The company is leveraging this platform to promote its dedication to research and development, particularly in the area of Thai herbal products, utilizing modern production technology.
By showcasing these advancements, BLC is striving to contribute to Thailand’s ambition of becoming a regional medical hub. This vision is fueled by the nation’s robust pharmaceutical industry, which is projected to grow at a rate of 6-7% per year in the coming years, reaching a market value of approximately 320 billion baht by 2027.
Driving Growth through New Product Launches and Market Expansion
BLC’s growth strategy focuses on introducing new products, building brand awareness, and expanding market reach both domestically and internationally. In the latter half of 2024, the company will introduce skin disease treatment products targeting fungal infections, aiming for a market share of 5.9% within the year. The company is also optimistic regarding the growth of Thailand’s sunscreen market and has developed MOMOR TRIPLE SUNCARE PERFECT UV SUNSCREEN SPF 50+ PA++++, a hybrid sunscreen with sun protection, oil control, and nourishing properties. This product leverages a unique formula featuring pumpkin seed extract and the Supercritical Fluid Extraction (SFE) technique for a gentle yet effective skin care solution.
The company’s strategic market approach involves a combination of online and offline marketing activities. It plans to expand its distribution channels beyond online platforms to include modern trade outlets like drug stores, Watson, and EveandBoy.
Leveraging Thai Herbal Wisdom for a Global Audience
BLC is committed to pioneering the development of innovative pharmaceuticals and health products that harness the power of Thai herbs. Through the fusion of traditional wisdom and modern technology, the company aims to provide accessible and high-quality products to Thai consumers and the global market. The participation in CPHI South East Asia 2024 is a platform to showcase the potential of Thai herbs on a global stage and to contribute to elevating Thailand’s position as a medical hub.
Key Highlights of BLC’s Participation in CPHI South East Asia 2024:
- Showcase of innovative pharmaceuticals, herbal products, and health products
- Highlighting the company’s commitment to research and development, particularly in Thai herbal products
- Promoting Thailand as a medical hub with potential for sustainable growth
- Sharing insights into BLC’s growth strategy, including new product launches and market expansion
Key Takeaways from BLC’s Approach:
- The importance of innovation and research in the pharmaceutical industry
- The growing significance of Thai herbal products in the global market
- The potential of Thailand becoming a regional medical hub
- The need for a strategic market approach that encompasses both online and offline activities
Table: BLC’s Key Strengths and Opportunities
| Strengths | Opportunities |
|---|---|
| Strong focus on research and development | Expanding into new markets, particularly in Southeast Asia |
| Diverse product portfolio | Developing new products based on Thai herbal innovations |
| Commitment to quality and affordability | Collaborating with leading pharmaceutical companies |
BLC’s commitment to innovation, combined with its focus on leveraging Thai herbal wisdom, positions the company as a key player in the future of the pharmaceutical industry. As Thailand aims to establish itself as a medical hub, BLC’s innovations and contributions will play a crucial role in shaping the landscape of healthcare in the region.