THAILANDSICThailand Standard Industrial Classification

TSIC Activity

47721

Retail sale of pharmaceutical and medical goods in specialized stores

ประกอบกิจการผลิตและขายปลีก ขายส่ง ผลิตภัณฑ์สมุนไพร และผลิตภัณฑ์เสริมอาหาร ทั้งทางหน้าร้านและผ่านระบบอิเล็กทรอนิกส์

What this activity covers

This activity involves the retail sale of medicines, medical supplies, and related products in specialised stores.

  • Retail sale of medicines
  • Pharmaceutical products
  • Medical equipment
  • Dietary supplements
  • Traditional medicines — Includes herbs and spices

What companies here also do

Seen in real company registrations under this code — beyond the official definition, so licensing may differ.

  • Wholesale pharmaceuticals
  • Import medical instruments

Foreign ownership

List 3: Restricted, FBL/BOI route availableinherited from 47

Retail sale of goods of all kinds, where the aggregate minimum capital or the minimum capital per store is below the level prescribed in the Act

Not a hard restriction — only applies while under-capitalised. A foreign-majority retailer is exempt from this List 3 item (no Foreign Business Licence needed) once registered capital meets the Act's minimum, typically THB 100 million in total and THB 20 million per store. Verify current ministerial-regulation figures.

FBA B.E. 2542, List 3 (14)Routes: Foreign Business Licence, BOI promotion, US Treaty of Amity

Auto-mapped, verify against the Act. These TSIC mappings are indicative, not legal advice; the schedules of the Foreign Business Act B.E. 2542 are the authority. See the full foreign ownership reference.

Industry at a glance

as of 23 ก.ค. 69

The whole registered industry under this activity, every registration year, from the DBD DataWarehouse.

7,631
active companies operate here
฿50.4Bregistered capital, combined
฿210.1B
Sector revenue · 2025
-0% since 2023
฿10.3B
Net profit · 2025
3,229 profitable
202320242025

net profitrevenue

Foreign investment

new registrations · 2026 YTD
4%of new registered capital is foreign-held
฿14.8M foreign฿347.5M Thai

Largely domestic, with some foreign investment.

3 of the 5 largest companies here are foreign-owned Thailand subsidiaries.

New in 2026

329-9.4%

registrations, YTD

Registered capital

฿50.4B-4.5%

since year-end

Largest by registered capital

  1. 1Witnapat Co., Ltd.Chon Buri฿10.0B
  2. 2E For L M Public Company LimitedBangkok฿2.0B
  3. 3Safe Drug Center Co., Ltd.Bangkok฿1.3B

Source: Department of Business Development DataWarehouse. Financial figures are combined totals of companies that filed statements; revenue and profit shown for the latest three reporting years.

Companies registered since 2022

Browse all

New DBD registrations under this activity since 2022, the period the registry snapshot covers, not the full historical register.

2,451
Registered
since 2022
2,155
Still active
296
Dissolved
฿1.0M
Median capital
of active

New registrations per year

2022peak 689 in 20222026

Largest active companies by registered capital

Source: Department of Business Development (DBD) new-registration records, 2022 to present. Counts cover companies first registered in that window, reflect the latest snapshot load, and may lag the live register.

Emerhub

Restricted activity? There is usually a route.

Emerhub structures foreign-owned companies around FBA restrictions: Foreign Business Licence applications, BOI promotion, and compliant shareholding structures. Talk through your case before you commit to one.

Talk to Emerhub Thailand