Trend of the Thai medical device market in the 70s over a hundred billion
June 12- Government Spokesman reveals that the Prime Minister is pleased with the trend of the Thai medical device market that continues to grow, predicting that in 2027 it will be worth more than a hundred billion baht. Average growth rate of 8.1% between 2019-2027
Mr. Anucha Burapachaisri, spokesman for the Prime Minister’s Office, revealed that General Prayut Chan-o-cha, Prime Minister and Minister of Defense I am pleased that the medical device market in Thailand tends to grow continuously. It is estimated that in 2027, the medical device market in Thailand will be worth more than hundred thousand million baht. with an average growth rate of 8.1% (2019-2027) due to the growing demand for medical innovations. with confidence that Thailand is ready to respond to the current demand
A spokesman for the Prime Minister’s Office said that the world is now more aware of health issues. As a result, the medical device market grows. According to the information of the Thai Medical Device Technology Industry Association Found that the world’s medical device market grows at an average of 6.1% per year. It is estimated that in 2027 the market value will be at 744 billion US dollars. While the Thai medical device market It is expected to be worth over $3.38 billion. or over a hundred million baht in 2027 with an average growth rate of 8.1% per year (2019-2027)
Mr. Anucha said that Bank of Ayudhya’s research found that in 2022-2023, the value of medical device sales in the country will grow by an average of 5.0-7.0% per year. continued to increase in both domestic and international markets as a result of 1. The morbidity rate tends to increase from chronic non-communicable diseases; 2. The number of foreign patients tends to return to Thailand in 2018. 2022-2023 3. Hospital operators have plans to expand their investment continuously. 4. The trend of health care and comprehensive health care tends to increase around the world. 5. Thailand’s main trading partners still need medical equipment. 6. Government support policy to develop Thailand as an international health center (Medical Hub) and 7. Development of new medical products/innovations that use more advanced technology.
“Prime Minister ordered to follow the growth trend of the medical device market in Thailand marketing plan set up demand Both production for domestic consumption and production for export including market value forecasts Growth of the biopharmaceutical industry Including ways to support Thailand in the medical sector, “said Mr. Anucha.
Source: Thai News Agency