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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

Region:Asia

Author(s):Sanya Bahal, Abhay Shukla and Pallavi Gupta

Product Code:KR1140

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Published on

April 2022

Total pages

99

Table of Content

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About the Report

About the Report

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
  • MindMedical
  • Unitech Healthcare Co. Ltd.
  • R.X. Company
  • Kha Bangkok
  • MedTech
  • Med Global
  • Bangkok Unitrade
  • MDE Thai
  • Pacific Healthcare MediTop
  • 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

Products

Products

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

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


Companies

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

  • MindMedical
  • Unitech Healthcare Co. Ltd.
  • R.X. Company
  • Kha Bangkok
  • MedTech
  • Med Global
  • Bangkok Unitrade
  • MDE Thai
  • Pacific Healthcare MediTop
  • 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

Table of Contents

Table of Contents

1. Executive Summary

1.1.  Executive Summary: Thailand Medical Device Market

2. Country Overview

2.1.  Country Overview

2.2.  Demographic Analysis

2.3.   Overview of Healthcare in Thailand

2.4.  Top Hospital projects in the in Thailand

2.5.  Thailand Disease Statistics

3. Overview of Thailand Medical Device Market

3.1   Industry Cycle of all the three device i.e. BGA and IAA

3.2   Ecosystem of Major Entities in Thailand Medical Device Market

3.3   Business Cycle and Genesis of Thailand Medical Device Market

3.4   Timeline of Thailand Medical Device Market Major Distributors

3.5   Value Chain Analysis of Thailand Medical Device Market

3.6   Key Challenges for Local Manufacturers Thailand Medical Device Market

3.7   Growth Factors Driving the Medical Device Demand in Thailand

4. Thailand Medical Device Market Size

4.1  Thailand Medical Device Market Size, 2016-2021

4.2   Thailand Medical Device Market by Type of Business Activity, 2021

4.3   Thailand Medical Device Market By Production and By Mode of Selling, 2021

5. Thailand Medical Device Market Segmentation

5.1  Market Segmentation by Type of Device, 2021

5.2  Market Segmentation by Type of Medical Consumables, 2021

5.3  Market Segmentation by Type of Diagnostic Imaging Product, 2021

5.4  Market Segmentation by Type of Respiratory Products, 2021

5.6  Market Segmentation by Type of Hospital Furniture, 2021

5.7  Market Segmentation by Type of Dental and Orthopedic Products

5.8  Market Segmentation by Type of Ophthalmic Devices, 2021

5.9  Market Segmentation by Type of Auxiliary Devices, 2021

5.9  Market Segmentation by End User, 2021

5.10  Market Segmentation by Region of Imports, 2021

6. End User Analysis

6.1 End User Customer Preference in The Thailand Medical Device market

6.2  Decision Making Process to Shortlist Medical Device

6.3  Pain Points Faced by Customers from Buying Medical Devices in the Thailand

7. Industry Analysis

7.1  Porter’s Five Forces Analysis on Thailand Medical Devices Market

7.2  Trends and Developments in The Thailand Medical Device Market

7.3 Technology Trends in the Medical Device Market

7.4  Opportunities in Thailand Medical Device Market

7.5  Issues and Challenges The Thailand Medical Device Market

7.6  Models of Distribution in Thailand Medical Device Market

8. Regulatory Framework in Thailand Medical Device Market

8.1  Government Support Towards Medical Device Sector

8.2  Incentives Given By Thailand Board of Investment

8.3  Regulatory Process for Medical Device

8.4  Medical Device-Specific Regulatory Process

9. Competitive Landscape in Thailand Medical Device Market

9.1 Overview of Competition in Thailand Medical Devices Market

9.2  Product Heat Map for Major Companies in Thailand Medical Devices Market

9.3  Strengths and Weakness of Major Manufacturers in Thailand Medical Devices Market

9.4  Market shares for Major Brands present in the Diagnostic Imaging, Hospital Furniture, Dialysis Equipment, Auxiliary Devices and Orthopaedic Products

9.5  Cross-Comparison of Major Distributors in Thailand Medical Devices Market

10. Post-COVID Scenario in Thailand Medical Device Market

10.1 Impact of Covid-19  in various Sub-Segments of Medical Devices

10.2  Rise of Telehealth in Thailand and government initiative to combat COVID 19

11.Thailand Medical Device Market Future Outlook and Projections

11.1  Thailand Medical Device Market Future Outlook and Projections,  2020- 2026E

11.2  Future Projections of Thailand Medical Device Market by Type of Business Activity and Mode of Selling, 2026

11.3  Future Market Segmentation by Type of Device, 2026

11.4  Medical Devices Technology Roadmap to 2030

12. Market Opportunity and Analyst Recommendation

12.1  Market Opportunity Analysis for Medical Devices in the Thailand

12.2  Recommendation for Medical Device Manufacturers

12.3  Case Study of China and Ireland Medical Device Industry

12.4  Market Attractiveness for Medical Device Companies

12.5  Market Entry Strategy in Thailand Medical Device Industry

Research Methodology

Research Methodology

Appendix

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