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
I
n line with its Thailand 4.0 policy, the Thai government consid- Thailand’s Aging Society and
ers the healthcare industry to be a priority sector for investment Future Demand for Healthcare
and further development. This stance is reiterated in the Min-
istry of Public Health’s 2016-2025 Strategic Plan entitled “Thai-
espite the already large healthcare sector, the rise of Thai-
land: A Hub of Wellness and Medical Services”.
land’s aging population is driving further need for healthcare
services in the years to come. Like many other countries, Thailand
While the government’s policies provide the strategic direction is heading towards an aging society. In relation to other countries
needed for Thailand to strengthen its position as a regional med- in ASEAN, the proportion of citizens aged over 60 is one of the
ical hub, other factors including a strong foundation of health-re- highest in the region. It is also forecasted that, by 2045, such
lated sectors, rising demand for health services, and attractive proportion will exceed that of other regions such as Europe and
investment incentives, among others, also play significant roles the United States. It is unquestionable that Thailand’s aging
in strengthening Thailand’s position as the “Medical Hub of Asia”. society will further drive the domestic healthcare demands
in the decades ahead.
With a strong healthcare infrastructure already in place and an
international reputation for its highly- skilled medical professionals
Share of Population Aged Over 601
and international-standard medical services, Thailand has become
a medical hub not only for ASEAN, but also for Asia and beyond. 50.0
Combined with the government’s supportive policies and the BOI’s 40.0
incentives, Thailand offers the ideal investment destination for a 30.0
wide range of medical and healthcare service providers.
D
20.0
Successful Healthcare System
T
10.0
0.0
Thailand
Singapore
South-East Asia
Europe
USA
2070
hailand has already invested significant time and efforts into facil-
itating access to medical services and public healthcare. The
proportion of government healthcare expenditure has risen rapidly from Leading Medical Tourism Hub
below 50% in 1995 to approximately 80% today. The country has also
been operating a universal healthcare system since 2002, with the
iven a large number of state-of-the-art medical facilities, the num-
policy proving so successful that over 99% of the Thai population is
ber of foreign patients at Thai hospitals has been increasing at a
now covered by public healthcare.
rapid rate. With millions of people travelling to the Kingdom for medical
treatment each year, Thailand boasts high-quality medical services and
Thailand’s large healthcare industry is supported by more than 1,000 premium healthcare specialists. This high-level of demand from patients
public and 300 private hospitals. The services offered by these facilities from abroad has provided the impetus for a range of technological
are wide- ranging and cover a large number of treatments.
advances, innovations, and clinical research studies. Such demand
also means that there are countless for new medical companies that
may be looking to enter the Thai market.
2015
2045
G
The public healthcare system
is covering almost the entire
population of Thailand
Foreign Patients at Thai Hospitals: 2010-2018
R =
CAG
2.50
Cosmetic Surgeries
1.78
Cancer Treatments Heart Surgeries
Hip Replacements Laser Eye Surgeries
Organ Transplants Balloon Dilatation
Cardiology Testing Caesarean Birth
Source: Ministry of Pubic Health
8 PharMed & HealthCare
3.20
3.30
3.42
2.81
Treatments Offered in Thailand
Dentistry
%
8.52
2010
1.92 2.03
2011 2012
2013
2.35
2014
2015E 2016E 2017E 2018F
Thai hospitals take care
of millions of
foreign patients each year
SEPTEMBER 2019