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Home Health Care Thailand Medical Device Market Outlook to 2026F: Ken Research

Thailand Medical Device Market Outlook to 2026F: Ken Research

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.

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

Related Reports by Ken Research

Philippines Medical Devices Outlook to 2025 (Second Edition)- Rising Cases of Chronic Diseases and Expected Growth in Demand for Cancer Therapy and Dialysis Equipment

Brazil Medical Device Market Outlook to 2025 – by Type of Device (Reagent for In-Vitro Diagnostics, Materials and Supplies, Laboratory Equipment and Others), Type of Business Activity (Import and Local Production), Channel of Sales (Distributor and Direct), Type of End User (Hospital, Clinics and Diagnostic Lab Centers and Others) and By Region (South-East, South, North-East, Mid-West and North)

India Medical Device Market Outlook to 2023 – by IVD Market (Type of Device, Sales Channel, Domestic Manufacturing and Import), by Diagnostic Imaging Market (Type of Device, Domestic Manufacturing and Import) and by Patient Aid Market (Orthopedic Device, Hospital Furniture and Hearing Aid)

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