DUBLIN , Sept. 23, 2022 /PRNewswire/ -- The 'Thailand Medical Device Market Outlook to 2026F' report has been added to ResearchAndMarkets.com's offering.
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.
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 .
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 Segmentation:
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.
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.
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.
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.
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.
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 .
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.
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.
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.
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.
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.
Regulatory Framework in Thailand Medical Device Market
Government Support Towards Medical Device Sector
Incentives Given By Thailand Board of Investment
Regulatory Process for Medical Device
Market Opportunity and Analyst Recommendation
Market Opportunity Analysis for Medical Devices in the Thailand
Recommendation for Medical Device Manufacturers
Case Study of China and Ireland Medical Device Industry
Market Attractiveness for Medical Device Companies
Market Entry Strategy in Thailand Medical Device Industry
Competitive Landscape in Thailand Medical Device Market
Overview of Competition in Thailand Medical Devices Market
Product Heat Map for Major Companies in Thailand Medical Devices Market
Strengths and Weakness of Major Manufacturers in Thailand Medical Devices Market
Market shares for Major Brands present in the Diagnostic Imaging, Hospital Furniture, Dialysis Equipment, Auxiliary Devices and Orthopaedic Products
Cross-Comparison of Major Distributors in Thailand Medical Devices Market
Medical intensive care co. ltd
Thai hospital products co. ltd
Time Period Captured in the Report:
Forecast Period -2021-2026F
By Type of Business Activity
By Type of Medical Consumable
Indoor surgical Gloves and Masks
By Type of Diagnostic Imaging Product
Electro diagnostic apparatus (Functional Examination)
By Type of Cardiac Device
By Type of Respiratory Products
By Type of Hospital Furniture
Hospital Beds with Mechanical Fittings and Dentists' Chairs
Medical, surgical, dental or veterinary furniture
By Type of Auxiliary Product
Artificial body parts (excluding artificial teeth and joints)
By Type of Dental and Orthopedic Products
Artificial teeth and dental fittings
For more information about this report visit https://www.researchandmarkets.com/r/ipvy4d
Research and Markets Laura Wood , Senior Manager press@researchandmarkets.com
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