BMI View: We expect the market to rise at a CAGR of around 12% during the forecast period, with imports supplying much of the market. Budget constraints within the public health sector, along with the current uncertain political situation are likely to place pressure on growth but this could be tempered by the performance of the private medical tourism sector.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates And Forecasts
We forecast that the market will expand by a CAGR of 11.8%, which will see it rise from USD1,070.5mn in 2014 to USD1,869.5mn in 2019. By product area, growth is expected to range from 17.3% for diagnostic imaging to 5.4% for patient aids.
We expect import performance to remain strong into 2016. Sustained imports recovery will depend on how the current political situation in Thailand plays out. Imports increased by 7.1% to USD257.5mn in the three months to October 2015, and grew by 7.4% to USD994.5mn in the 12 months to October 2015.
We expect exports to fall slightly for full year 2015, and into 2016. Exports fell by 1.3% in the first nine months of the year. Exports fell by 2.3% to USD212.4mn in the three months to October 2015, and grew by 0.3% to USD845.7mn in the year ending October 2015.
The government's plan to make Thailand an international hub is a big driver of medical device market growth. The government aims to promote and enhance the quality of 172 private hospitals in 10 major tourism provinces, so that they can receive the Joint Commission International (JCI) accreditation. We expect hospitals to be modernised and new equipment to be bought in order to achieve this.
The Thailand Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a BMI Research's company. These forecasts and estimates focus on six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices.
Detailed product breakdown for market, trade and production data in Thailand provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Thailand Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Thailand, to test analysis as it is a key input for budgeting and strategic business planning. Use our standardised data to gain a better understanding of market performance in Thailand.
- Target Business Opportunities in the Thailand Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Thailand.
- Assess the activities and market position of your competitors via our assessments of domestic production, national and multinational manufacturers, along with the trade and distribution outlets of multinationals, key company developments and future growth prospects.
BMI Industry View
Provides industry, political and economic views. Briefly analyses the medical devices market, taking into account the latest industry forecasts, healthcare indicators and industry trends & developments.
SWOT analyses of the medical devices market, the political environment, the economic landscape and the business environment.
Evaluates and analyses the medical devices market in terms of historical and forecast trends, covering six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices. Additionally, presents annual and monthly import and export trade data.
Presents macroeconomic forecasts impacting the medical devices market.
Industry Risk Reward Index
Risk Reward Indices tool, which provides a globally comparative and numerically based assessment of the medical devices market’s attractiveness.
Assesses the medical devices market in the current year. Additionally, covers healthcare trends shaping the market, focusing on health status, healthcare system, healthcare funding, healthcare resources, healthcare activity and healthcare personnel. Includes historical healthcare data.
Industry Trends & Developments
Analyses the latest industry trends and developments shaping the market, in terms of monthly trade performance, forecast trends, production changes, regulatory developments, competitive strategies, political events and economic performance.
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
Values historical medical devices production, and analyses the presence of national and multinational manufacturers operating in the market. Also, compares the presence of leading multinational company operations, either via sales & marketing, distribution or manufacture. Finally, takes into account market access drivers, including major distribution channels, trade associations and trade shows.
Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.