The medical device industry benefitted from the coronavirus (COVID-19) pandemic. Due to the boom in the production of personal protection products such as medical rubber gloves, masks, and alcohol disinfectants. The
was forecast to increase over the next years, reaching around 11.4 billion U.S. dollars by 2027. Thailand is also one of the largest importers and exporters in Asia for medical devices. Most of the medical devices exported from Thailand were single-use, including rubber gloves, catheters and tubing, syringes and hypodermic needles, and bandages and dressings. In regards to the business volume in the medical device industry in the country, the
Medical device manufacturing and sales in Thailand
The production of medical devices in Thailand is targeted for exports. Medical devices produced in Thailand are mostly fundamental items that do not require a lot of technology or innovative methods, namely single-use devices, reagents and test kits, and durable medical devices. The leading sub-sectors include medical devices used to diagnose and treat COVID-19, cardiovascular devices, dental devices, dermatological devices, and electro-diagnostic devices. In May 2023, single-use devices were the
most exported medical devices, amounting to around 9.4 billion Thai baht. Some of the major medical device manufacturers in Thailand are both local and foreign manufacturers. Since the Thailand Board of Investment launched a policy supporting foreign investments such as exempting import tax as per imposed criteria, the
production of medical devices in the country was estimated to reach over 4.9 billion U.S. dollars in 2022. In terms of sales, infusion or transfusion sets for blood work and saline solutions had the highest sales volume among other medical devices in August 2023.
Future medical hub in ASEAN
As the medical industry is one of the focused industries stated in the national policy, the Thai government has been aiming to position Thailand as a medical hub in Asia since 2016. In 2018, approximately 600 million U.S. dollars were generated from medical tourism in Thailand. This put the country on the map as a
leading medical tourism destination worldwide, after the United States, South Korea, and Turkey. In 2023, an estimated 22.5 billion U.S. dollars were spent on
healthcare in Thailand, with this number expected to reach roughly 31.8 billion in 2028. With the government’s efforts to transform Thailand into a medical hub of Asia, there are also opportunities for the medical device industry. In addition, by 2028, the Thai government aims to push Phuket as a first-class medical tourism hub with specialized medical treatment facilities ranging from a cardiac center and senior care facility to disease institutes.
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