The Future for Thai Medical Devices

04/02/2019

The Future for Thai Medical Devices

  • The Thai medical device market is projected to grow at 8.5-10% per year from 2016 to 2019. This is higher than the global average due to the increasing senile population, expansion of medical tourism, and leading medical institutes and also government policy to promote Thailand as a medical hub. 
  • Medical consumables, especially rubber products, represent major medical export products of Thailand. These products are in high demand with forecasted continued growth. However, there is high competition both in Thailand and internationally. Production of diagnostic reagents and equipment offers more business opportunities with changes in market demand.
  • Thailand has limited self-innovation development and importation of durable devices is necessary. Over the past 3-5 years, Thailand has shown increased volumes of imported durable devices such as medical robots.
  • The government has adopted a long-term management policy to support technology through incorporation with leading national research institutes, academics and the private sector to decrease the trade deficit by promoting Thai innovations to global markets. 

Page view : 1157