Market Insights Health Medical Technology Medical Devices

Endoscopic Devices - Thailand

Thailand

The revenue in the Endoscopic Devices market market in Thailand is anticipated to reach US$145.40m in 2024.
The revenue in Thailand is expected to exhibit an annual growth rate (CAGR 2024-2029) of 7.77%, leading to a market volume of US$211.40m by 2029.
In a global context, the majority of revenue will be generated the United States, with a projected amount of US$10,390.00m in 2024.
Thailand's growing emphasis on advanced healthcare technologies is driving significant interest and investment in the endoscopic devices market, enhancing surgical precision and patient outcomes.

Key regions: Italy, United Kingdom, Netherlands, Germany, Japan

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Analyst Opinion

The Endoscopic Devices Market in Thailand is witnessing moderate growth, influenced by factors such as the increasing prevalence of chronic diseases, advancements in minimally invasive surgical techniques, and rising healthcare expenditure among the population.

Customer preferences: Consumers in Thailand are increasingly prioritizing minimally invasive procedures, reflecting a growing awareness of the benefits of reduced recovery times and lower risks associated with traditional surgeries. This shift is influenced by an aging population and a rise in chronic diseases, prompting a demand for advanced endoscopic devices. Additionally, cultural factors such as the emphasis on maintaining an active lifestyle and seeking timely medical interventions are steering preferences toward innovative technologies that enhance patient outcomes and comfort, further propelling market growth.

Trends in the market: In Thailand, the Endoscopic Devices Market is experiencing a notable trend towards the adoption of advanced minimally invasive surgical technologies. This shift is being driven by an increasing prevalence of chronic diseases and an aging population, leading to heightened demand for procedures that offer quicker recovery and fewer complications. Furthermore, healthcare providers are investing in innovative endoscopic solutions, enhancing diagnostic accuracy and patient comfort. The emphasis on active lifestyles among consumers is pushing industry stakeholders to prioritize the development of user-friendly devices, ultimately improving patient outcomes and expanding market opportunities.

Local special circumstances: In Thailand, the Endoscopic Devices Market is influenced by the country's unique healthcare landscape and cultural attitudes towards medical treatment. The government's commitment to universal healthcare has increased access to advanced medical technologies, fostering a growing demand for minimally invasive procedures. Additionally, Thailand's status as a medical tourism hub attracts international patients seeking high-quality care, further driving innovation in endoscopic solutions. Cultural preferences for speedy recovery and minimal discomfort among patients also encourage healthcare providers to adopt cutting-edge technologies, enhancing the overall market dynamics.

Underlying macroeconomic factors: The Endoscopic Devices Market in Thailand is significantly shaped by macroeconomic factors such as the country's robust healthcare infrastructure, increasing GDP, and favorable fiscal policies that prioritize health investments. The government's focus on enhancing medical services through universal healthcare coverage has spurred demand for innovative medical technologies, particularly in minimally invasive procedures. Furthermore, the growth of medical tourism is bolstered by global economic trends that favor affordable yet high-quality healthcare options, attracting international patients. Additionally, rising disposable incomes and changing consumer preferences towards advanced medical treatments are further stimulating market growth, creating a dynamic environment for endoscopic device adoption.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.