The Thailand medical device market has been growing steadily over the past few years, driven by the increasing demand for advanced medical equipment and rising healthcare expenditure. The market is highly dependent on imports, with a significant portion of the medical devices used in the country sourced from overseas.
The Thailand medical device market is expected to continue growing over the forecast period, driven by the increasing demand for advanced medical equipment and rising healthcare expenditure. The market is highly dependent on imports, with a significant portion of the medical devices used in the country sourced from overseas. The government’s efforts to develop the healthcare sector and increase public and private investment in healthcare are expected to further drive market growth.
The Thailand medical device market was valued at US$ 6 billion in 2022 and is expected to grow at a CAGR of 7.5% over the forecast period. The growing demand for advanced medical devices, increased public and private investment in healthcare, and the government’s efforts to develop the healthcare sector are the major factors driving the Thailand medical device market growth.
The Thailand medical device market is segmented based on product type, end-user, and distribution channel. Based on product type, the market is divided into diagnostic equipment, surgical equipment, dental equipment, and others. The diagnostic equipment segment holds the largest market share due to the growing demand for imaging and diagnostic technologies.
Based on end-user, the market is segmented into hospitals, clinics, and others. The hospital segment holds the largest market share due to the increasing number of inpatient procedures. Based on the distribution channel, the market is divided into direct and indirect channels. The indirect channel, which includes distributors and retailers, holds the largest market share.
Regional Analysis: Thailand Medical Device Market
The Thailand medical device market is further analyzed based on regional analysis, with the market divided into Northern, Northeastern, Central, Eastern, and Southern regions. The Northeastern region holds the largest market share due to the presence of a large number of public and private hospitals and clinics.
The Thailand medical device market is highly competitive, with a large number of local and international players operating in the market. Major players in the market include Johnson & Johnson, GE Healthcare, Philips Healthcare, Medtronic, and others. These players are focusing on expanding their product portfolios and increasing their market presence through partnerships and collaborations.
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