The report titled “Thailand Medical Device Market Outlook to 2026F –Driven by prevalence of chronic diseases in the country combined with the government’s supportive policies and the BOI’s incentives.” provides a comprehensive analysis on the status of the medical device market in Thailand. The report covers various aspects including the current market scenario in Thailand, procurement and pricing trends, market potential of each medical device, major growth drivers, tech disruptions and innovations, and competition benchmarking. The report concludes with market projections for future of the industry including forecasted industry size by revenue and business activity.
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Thailand Medical Device Market Overview and Size:
Thailand recorded the 5.0%
population growth rate over the last 7 years, with highest population concentrated
in Bangkok. Majority of the healthcare facilities are concentrated in Bangkok
and other central regions of the Thailand. The country has a comprehensive,
government-funded health service and a rapidly developing private health
sector, which is one of the major pillar of the industry. Universal Coverage Card is the most used
insurance in Thailand. Social Security (SSS) is followed by Civil Servant
Medical Benefit Scheme (CSMBS). Private insurance contributed 7.33% to the
total insurances in Thailand. Diabetes and lung cancer causes most death in
Indonesia.
Thailand Medical Device Market Segmentation:
By Type of Business Activity: Imports have accounted for
majority of the revenue share in Thailand Medical Device Market in 2020. The
imports are largely related to more sophisticated medical and surgical
instruments and infrastructure.
By Mode of Sales: Distributor Mediated Sales have accounted for
majority of the revenue in Thailand Medical Device Market in 2021. Majority of
the international companies hire distributors in Thailand through which it
sells the medical devices to hospitals, diagnostic laboratories and other
non-residential customers.
By Type of Medical Device: Medical Consumables have accounted
for the largest share of of the revenue in Thailand Medical Devices market in
2021, followed by Diagnostic Reagents and cardiac devices.
By Type of Medical Consumables: Syringes, Needles and Catheters,
Surgical Gloves and Intravenous Admin Sets contributed more than 50.0% revenue
in 2021. The COVID-19 outbreak and increasing hospital admissions across the
country have significantly increased the demand for medical disposables.
By Type of Diagnostic Imaging Product: CT Scans contributed the
highest revenue share in 2021 followed by X Ray Based Products, Ultrasound and
MRI. The CT Scan segment witnessed the fastest growth since they are one of the
primary diagnostic tools for COVID-19 patients.
By Type of Production (Local): In Thailand the production of
medical devices are exported to other parts of the world which contributes 70%
of the overall production.
Thailand’s key export markets are
the United States, followed by Japan, the Netherlands, and Germany. Most of the
manufacturers and exporters in Thailand are foreign-owned companies that export
the items back to their home countries, e.g. Japan, the United States and
France.
By Type of Respiratory Product: Oxygen Concentrators contributed
highest revenue share in 2020. The Thailand population has high risk of
exposures to occupational and environmental factors that lead to illnesses such
as asthma, chronic bronchitis and emphysema.
By Type of Hospital Furniture: Hospital Beds with Mechanical
Fittings and Dentists' Chairs contributed highest revenue share in 2021.
Increasing number of hospitals and lifestyle diseases along with operations on
morbidly obese patients is increasing by more than 18.6K cases a year and
Increasing incidences of chronic diseases and a rise in geriatric population is
driving growth.
By Type of Auxiliary Product: Implants and Artificial Body parts
have accounted for largest revenue share in the Thailand medical devices market
in 2021. Frequent road accidents (~About 20,000 people die in road accidents
each year, or about 56 deaths a day) and injuries driving the auxiliary devices
market.
By Type of Dental and Orthopedic Products: Dental
Appliances contributed the highest revenue and contributed 20.0% of the overall
revenue in 2021. Oral implant surgery, products for sensitive teeth and gum are
some of the major areas in dental care which led to demand of these
equipment’s.
By End Users: Hospitals along with Clinics and Diagnostic Lab
Centers contribute majority of the market revenue in Thailand Medical Devices
Market in 2021. Consumer and provider attitudes toward telehealth have improved
since the post-COVID-19 era. Virtual healthcare and business models are
evolving, moving from purely “virtual urgent care” to a range of services
enabling integration of telehealth with other virtual health solutions, and
hybrid virtual/in-person care models.
Competitive Landscape in the Thailand Medical Devices Market:
The competition scenario in
Thailand medical devices market is highly concentrated for Orthopedic Product
and Diagnostics imaging market and moderately concentrated due to the presence
of large number of international companies and local distributors leading to
dilution of market share. The international companies distribute their products
through authorized distributors located across the country. GE, Siemens,
Philips, Canon and Fujifilm are the major companies operating in the Thailand
Medical Device market. Meditop, Mind medical and R.X. Company are few top
distributors in Thailand. The major competitive parameters include product
portfolio, price, and after sales and warranty and technology
Thailand Medical Device Market Outlook & Projections
The Thailand medical device market
is expected to grow at a double digit CAGR from 2021-2026F, with imports
contributing majority of the market revenues. The creation of a world-class
healthcare sector is a top priority for the Thailand and the healthcare sector
is expected to advance and expand significantly in the next few years which
will support the growth of Medical Device Market in the country. Aging
population along with increase in number of hospitals and clinics, increase in
total healthcare expenditure by the government and increase in medical tourism
in the country are going to impact the demand for medical devices in the
positive manner.
Key Segments Covered: -
By Type of Business Activity
Import
Local Production
Distributor Mediated
Direct Sales
Medical Consumables
Diagnostic Imaging Products
Respiratory Products
Dental and Orthopedic Products
Cardiac Device
Hospital Furniture
Auxiliary Devices
Ophthalmic Devices
Dialysis Machine
Others
Indoor surgical Gloves and Masks
Syringes, Needles and Catheters
Intravenous Administration Set
Sutures and catgut
Infusion Pumps
Ostomy
Bandages, Dressings and Others
CT Scan
X-ray Based Products
Ultrasound
MRI
Electro diagnostic apparatus
(Functional Examination)
ECG
Others
Angioplasty Device
Cardiac Rhythm Management
ICD
Implants
Pacemakers
Heart-Lung Machines
Others
Oxygen Concentrator
Nebulizers
Humidifier
Ventilators
Airway Pressure devices
Others
Hospital Beds with Mechanical
Fittings and Dentists' Chairs
Operating Tables
Examination Tables
Medical, surgical, dental or
veterinary furniture
Others
Hearing Aids
Artificial body parts (excluding
artificial teeth and joints)
Others
Orthopedic Appliances
Artificial teeth and dental
fittings
Dental appliances
Surgical Belts
Trusses
Crutches
Others
Hospitals
Clinics
Labs and Others
By Mode of Selling
By Type of Device
By Type of Medical Consumable
By Type of Diagnostic Imaging Product
By Type of Cardiac Device
By Type of Respiratory Products
By Type of Hospital Furniture
By Type of Auxiliary Product
By Type of Dental and Orthopedic Products
By Type of End-Users
Companies Covered
Local Manufacturing Companies
Nipro (Thailand)
Hoya Optics
Kawasumi Laboratories
Meditop
GE Medical Systems (Thailand)
Eyebiz Laboratory (Thailand)
Emerald Nonwovens International
Infus Medical (Thailand)
M.E. Meditek
Distributor Companies
Mind Medical
Unitech Healthcare Co. Ltd.
R.X. Company
Kha Bangkok
Med Tech
Med Global
Bangkok Unitrade
MDE Thai
Pacific Healthcare Medi Top
CMC Biotech
Techno Medical
Saintmed
Winnergy Medical
Xovic Co. Ltd.
Gateway Healthcare Co. Ltd.
Medical intensive care co. ltd
Thai hospital products co. ltd
iCare medical co ltd
DKSH (Thailand) co. ltd
BJC Healthcare
Prime medical co. ltd
MP Med group
MDC (Thailand)
Siam pharmaceutical
Key Target Audience
Medical Device Manufacturers
Medical Device Distributors
Medical Device Importers
Research organizations and
consulting companies
Government bodies such as
regulating authorities and policy makers
Market research and Consulting
firms
Time Period Captured in the Report: -
Historical Period – 2016-2021
Forecast Period –2021-2026F
Key Topics Covered in the Report: -
Executive Summary
Overview of Thailand Healthcare
System
Thailand Medical Device Market Introduction
and Overview
Industry Life Cycle and Value Chain
of Thailand Medical Device Market
Key Market Drivers in the Thailand
Medical Device Market
Demand & Supply Side Ecosystem,
Preferences & Trends across Thailand Medical Device Market
Thailand Medical Device Market Size
by Revenue
Thailand Medical Device Market by
Type of Devices and Sub Segments
Thailand Medical Device Market by
End Users
Thailand Medical Device Market by
Regions
Competitive Factors and Assessment
in Thailand Medical Device Market
Market Trends and Development
Market Issues and Challenges
Government Rules and Regulations
Thailand Medical Device Market
Future Outlook
Upcoming Technologies in the
Medical Device Market
Analyst Recommendations
For More Information on the Research
Report, refer to below links: -
Thailand Medical Device Market
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