T H A I L A N D : T O WA R D S B E C O M I N G N O . 1 M E D I C A L H U B O F A S I A
There is most potential for
investment opportunities
in sophisticated medical devices,
which Thailand still relies
on imports
Thailand as an Increasingly
Important Export Base
T
he production and distribution of medical devices both within and
outside of Thailand continues to gain momentum. With a reputation
as a provider for high quality and affordable healthcare, and as a re-
gional medical hub, Thailand has become a natural market for medical
devices. Thailand’s import value of medical devices grew from 431
million USD to 851 millions USD in 2017. Over the same period, the
export value grew from 453 million USD to 770 million USD. This trend
reflects growing size of domestic market and the country’s importance
as an export base.
Thailand ‘s Medical Device Trade
1,000
Large Market
for Medical Devices
900
T
800
hailand’s medical devices sector is the 8th largest in the Asia-Pa-
cific region. In addition, there are an estimated 538 local medical
device manufacturers in Thailand at the end of 2017. The market
currently comprises of two different types of medical device i.e. con-
sumable and diagnostic imaging devices such as basic medical prod-
ucts / patient aids, and the more sophisticated (and generally imported)
devices. It is the latter whereby there is most potential for investment
opportunities from foreign manufacturers. As an expanding market,
Thailand’s medical device industry offers significant investment oppor-
tunities for locals and foreigners alike.
700
633 657
600
677
879
827
791
725
755
734
743
851
770
554 557
500 453
431
400
300
200
100
0
2010
2011
2012
2013
2014
2015
2016
2017
Medical Devices ASEAN (MDA), the international exhibition and con-
gress on medical devices, services and general healthcare, aims to Standardized Pharmaceutical
position Thailand as the foremost healthcare and medical industry hub Companies
in ASEAN.
s of March 2017, there were 178 manufacturers of conventional
Major Medical Device Manufacturers in Thailand
medicines in Thailand and approximately 90% of these were ac-
credited with the Good Manufacturing Practice (GMP) standards. This
COMPANY
LOGO
PRODUCTS
quality standard ensures that all finished pharmaceutical products are
• Nipro (Thailand)
Blood Tubing Set, PTA Balloon Catheter,
produced to a universally acceptable quality. Thailand has been
Hypodermic Needles, and Syringe
involved in some primary pharmaceutical research and development,
• Hoya Optics
Glass Molded Lenses, Preforms,
namely the ongoing development of vaccines for HIV and various
(Thailand)
Glass Polished Lenses and Glass Lenses
Pressed Blanks
strains of flu.
A
• Kawasumi
Laboratories
(Thailand)
• Reckitt Benckiser
Healthcare
Manufacturing
(Thailand)
• Meditop
• GE Medical Systems
(Thailand)
• Eyebiz Laboratory
(Thailand)
• Emerald Nonwovens
International
• Infus Medical
(Thailand)
10 PharMed & HealthCare
Hemodialysis, Plasmapheresis,
Blood Banking
and Transfusion, and Infusion Therapy
Antiseptic, Sore Throat Medicine,
Ingestion Remedy,
and Immune Support Supplement
Leading Pharmaceutical Companies in Thailand
Diagnostic Product, Cardiovascular Product,
Ventilator, Renal Product Group, and Tester
EP Recording, Maternal-Infant Products,
Ultrasound, Radiography,
Mammography, and Ventilator
Ophthalmic Lenses
Single Use Medical Devices, Surgical Gown
and Specialty Drapes
Bone Cement Mixing, Blood Transfusion
Products, Apheresis Products,
and Drainage Products
DISTRIBUTORS
MANUFACTURERS
Source: Compiled from Business Online, Government
Pharmaceutical Organization and Krungsri Research as of 2017
SEPTEMBER 2019