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Home > Market Research > Medical Devices > The Medical Device Market: Thailand
Espicom’s in-depth medical device market reports are ideal for executives wanting to understand the key drivers in medical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.
The Thailand medical device market has been undergoing a period of rapid growth, and if fundamentals remain the same, the market looks set to expand at an attractive 8.1% per annum in the medium term. This growth could be somewhat tempered as a result of a global economic downturn, but the percentage point growth rate is still expected to be high by world standards.
Market growth is tied to the strength of the United States economy, the largest purchaser of Thai medical equipment & supplies, and the performance of the local currency against the dollar. After a period of slow recovery, imports surpassed the pre-late 90s economic crash for the first time in 2004 and has spiked a further 46.0% since then, all while the county continued to maintain a steady positive balance of trade. Healthcare coverage is poor, particularly in rural areas. The present rate of 0.3 doctors per thousand population is one of the lowest in the world.
Healthcare sector development, which decelerated considerably as a result of the recession, has begun to pick up again in terms of expenditure and was revived policy-wise with the introduction of the 30 baht universal healthcare scheme in 2001; there is expected to be more spending under the new universal healthcare scheme that replaced it in November 2006.
In 2008, the Thai market for medical equipment and supplies is estimated at US$652 million, equal to US$10 per capita. Overall market size is similar to Saudi Arabia, while in per capita terms the market is similar to Argentina.
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