Thailand Medical Devices Market Outlook to 2026

DUBLIN, September 23, 2022 /PRNewswire/ — The “Thailand Medical Device Market Outlook to 2026F” report has been added to from ResearchAndMarkets.com offer.

The Thailand The medical device market is expected to grow at a double-digit CAGR from 2021 to 2026F, with imports contributing the majority of market revenue.

Creating a world-class health sector is a top priority for the Thailand and the healthcare sector is expected to progress and expand significantly over the coming years, which will support the growth of the medical device market in the country.

The aging population, increase in the number of hospitals and clinics, increase in total government healthcare expenditure and increase in medical tourism in the country are going to have a positive impact on the demand for medical devices.

Thailand Medical Devices Market Overview and Size:

Thailand recorded the population growth rate of 5.0% over the past 7 years, with the highest population concentrated in bangkok. The majority of health facilities are concentrated in bangkok and other central regions of Thailand. The country has a government-funded comprehensive health service and a rapidly developing private health sector, which is one of the main pillars of the industry.

The universal coverage card is the most widely used insurance in Thailand. Social Security (SSS) is followed by the Civil Servants Medical Benefits Scheme (CSMBS). Private insurance contributed 7.33% of total insurance in Thailand. Diabetes and lung cancer cause most deaths in Indonesia.

Competitive Landscape in Thailand Medical Devices Market:

The competition scenario in Thailand The medical devices market is highly concentrated for the orthopedic and diagnostic products imaging market and moderately concentrated due to the presence of a large number of international companies and local distributors resulting in market share dilution.

International companies distribute their products through authorized distributors located throughout the country. GE, Siemens, Philips, Canon and Fujifilm are the major companies operating in the Thai medical device market.

Meditop, Mind medical and RX Company are some of the major distributors in Thailand. Key competitive metrics include product portfolio, price, after-sales service, warranty, and technology

Thailand medical device market segmentation:

• Imports accounted for the majority of the revenue share in Thailand Medical device market in 2020. Imports are largely related to more sophisticated medical and surgical instruments and infrastructure.
• Distributor-mediated sales accounted for the majority of revenue in Thailand Medical device market in 2021. Majority of international companies are hiring distributors in Thailand through which it sells medical devices to hospitals, diagnostic laboratories and other non-residential customers.
• Medical consumables accounted for the largest share of sales in Thailand Medical device market in 2021, followed by diagnostic reagents and cardiac devices.
• Syringes, needles and catheters, surgical gloves and intravenous administration sets contributed more than 50.0% of revenue in 2021. The COVID-19 outbreak and increased hospital admissions across the country have dramatically increased the demand for disposable medical products.
• CT scans contributed the highest revenue share in 2021, followed by X-ray, ultrasound and MRI products. The CT Scan segment has seen the fastest growth as it is one of the leading diagnostic tools for COVID-19 patients.
• In Thailand the production of medical devices is exported to other parts of the world which contribute 70% of the global production.
• Thailand the main export markets are United Statesfollowed by Japan, the Netherlandsand Germany. Most manufacturers and exporters of Thailand are foreign companies that export the items to their country of origin, for example Japan, United States and France.
• Oxygen concentrators contributed the highest revenue share in 2020. Thailand has a high risk of exposure to occupational and environmental factors that lead to diseases such as asthma, chronic bronchitis and emphysema.
• Hospital beds with mechanical fittings and dental chairs contributed the highest revenue share in 2021. The growing number of hospitals and lifestyle diseases as well as operations on patients suffering from morbid obesity increase by more than 18.6K cases per year and The increasing incidence of chronic diseases and the increase in the geriatric population are driving growth.
• Implants and artificial body parts accounted for the largest share of revenue in the Thailand medical devices market in 2021. Frequent road accidents (about 20,000 people die in road accidents every year, or about 56 deaths per day) and injuries driving the ancillary devices market.
• Dental appliances contributed the highest revenue and contributed 20.0% of overall revenue in 2021. Oral implant surgery, products for sensitive teeth and gums are some of the major areas of dental care that have led to the demand for these equipments.
• Hospitals along with clinics and diagnostic laboratory centers contribute the majority of the market revenue by Thailand Medical Device Market in 2021. Consumer and vendor attitudes towards telehealth have improved since the post-COVID-19 era. Virtual health care and business models are evolving from pure “virtual emergency care” to a suite of services enabling the integration of telehealth with other virtual health solutions, and hybrid virtual/ in person.

Regulatory framework in Thailand Medical Devices Market

• Government support for the medical device sector
• Incentives granted by the Thailand Board of Investment
• Regulatory process for medical devices
• Regulatory process specific to medical devices

Market Opportunity and Analyst Recommendation

• Analysis of market opportunities for medical devices in the Thailand
• Recommendation for manufacturers of medical devices
• Case study of China and the medical device industry in Ireland
• Market attractiveness for medical device companies
• Market entry strategy Thailand Medical device industry

Competitive landscape in Thailand Medical Devices Market

• Overview of the competition in Thailand Medical Devices Market
• Product heatmap for large enterprises Thailand Medical Devices Market
• Strengths and weaknesses of the main manufacturers in Thailand Medical Devices Market
• Market share for Major brands present in diagnostic imaging, hospital furniture, dialysis equipment, auxiliary devices and orthopedic products
• Cross comparison of the main distributors in Thailand Medical Devices Market

Companies covered

Local manufacturing companies

• Nipro (Thailand)
• Hoya optics
• Kawasaki Laboratories
• Meditop
• GE Medical Systems (Thailand)
• Eyebiz Laboratory (Thailand)
• Emerald Nonwovens International
• Medical infusion (Thailand)
• ME Meditek

Distributing companies

• SpiritMedical
• Unitech Healthcare Co. Ltd.
• X-ray company
• Kha Bangkok
• MedTech
• Global Media
• Bangkok Business Unit
• MDE Thai
• Pacific Healthcare MediTop
• CMC Biotech
• medical technology
• Saintmed
• Winnergy Medical
• Xovic Co.Ltd.
• Gateway Healthcare Co. Ltd.
• Medical Intensive Care Society. ltd
• Thai hospital products co. ltd
• iCare medical co ltd
• DKSH (Thailand) co. ltd
• BJC Health
• First Medical Society. ltd
• MP Med Group
• CDM (Thailand)
• siam pharmaceutical

Key Segments Covered

Period entered in the report:

• Historical period – 2016-2021
• Forecast period -2021-2026F

By type of business activity

By mode of sale

• Distributor Mediation
• direct sales

By device type

• Medical consumables
• Diagnostic Imaging Products
• Respiratory products
• Dental and orthopedic products
• heart apparatus
• Hospital furniture
• Auxiliary devices
• Ophthalmic devices
• dialysis machine
• Others

By type of medical consumable

• Indoor surgical gloves and masks
• Syringes, needles and catheters
• Intravenous administration set
• Sutures and catgut
• Infusion pumps
• stoma
• Bandages, dressings and others

By Diagnostic Imaging Product Type

• CT scan
• X-ray products
• Ultrasound
• MRI
• Electrodiagnostic device (functional examination)
• EKG
• Others

By type of cardiac device

• Angioplasty device
• Heart rhythm management
• CIM
• Implants
• Pacemakers
• Heart-lung machines
• Others

By type of respiratory products

• oxygen concentrator
• Nebulizers
• humidifier
• Fans
• Airway pressure devices
• Others

By type of hospital furniture

• Hospital beds with mechanical fittings and dental chairs
• Operating tables
• Examination tables
• Medical, surgical, dental or veterinary furniture
• Others

By type of auxiliary product

• Hearing aids
• Artificial body parts (excluding artificial teeth and joints)
• Others

By type of dental and orthopedic products

• Orthopedic devices
• Artificial teeth and braces
• dental appliances
• Surgical belts
• Farms
• crutches
• Others

By type of end users

• Hospitals
• Clinics
• Laboratories and others

For more information about this report visit https://www.researchandmarkets.com/r/ipvy4d

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