Wilmington, Delaware, Oct. 05, 2023 (GLOBE NEWSWIRE) — Thailand Medical Device Market was valued at US$ 6.9 billion in 2023 and is expected to grow at a significant CAGR of over 7.5% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
The medical device market in Thailand has been experiencing steady growth due to factors such as an aging population, increasing healthcare awareness, and advancements in medical technology. Moreover, Government initiatives to improve healthcare infrastructure and expand access to medical services contribute to the growth of the medical device market. Investments in hospitals, clinics, and healthcare facilities play a role in increasing the demand for medical devices.
- According to a deep-dive market assessment by RationalStat, Thailand Medical Device market has been analyzed on the basis of market segments, including type, end user and geography/regions (including North Thailand, Eastern Thailand, Central Thailand, South Thailand). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the Thailand Medical Device market covers market sizes on the basis of market value (US$/EUR Million) and volume (Liters) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the Thailand Medical Device market. It also includes the industry’s current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Thailand Medical Device Market: Segmental and Market Share Analysis
·On the basis of product type, cardiac device segment is expected to hold major share of the Thailand medical device market due to the growing demand for minimally invasive cardiac procedures coupled with supportive government support.
- Based on end user, hospitals are dominating the Thailand medical device market. Hospitals are the primary users of medical devices in Thailand. They require a wide range of medical devices for diagnosis, treatment, and rehabilitation.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 6.9 billion |
| Market Size Forecast | US$ 11.4 billion |
| Growth Rate | 7.5% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Prominent players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in Thailand’s Medical Device market include,
- In August 2023, US-based medical device manufacturer Bruker Corp announced that it would acquire PhenomeX a specialty cellular analysis company.
- In Jan 2023, Amcor, a global leader in developing and producing responsible packaging solutions, today announced it has entered into an agreement to acquire Shanghai-based MDK. MDK generates annual sales of approximately US$ 50 million and is a leading provider of medical device packaging, a key priority growth segment for Amcor.
Some of the prominent players and suppliers operating and contributing significantly to the Thailand Medical Device market growth include Johnson & Johnson Co., Ltd., Medtronic, GE Healthcare, Siemens Healthineers, Philips Healthcare, Terumo, Nipro Medical, Hoya Optics, Kawasumi Laboratories, Meditop Co., Ltd., Infus Medical, M.E. Meditek Co., Ltd., Emerald Nonwovens International, and Eyebiz Laboratory, among others.
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RationalStat has segmented the Thailand Medical Device market based on type, end user, distribution channel, and region.
- Thailand Medical Device Market Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Product Type
- Cardiac Devices
- Pacemakers
- Implants
- ICD
- Angioplasty Device
- Ophthalmic Devices
- Auxiliary Devices
- Hearing Aids
- Artificial Body Parts
- Others (Diagnostic, Surgical, Dental Equipment, etc.)
- Thailand Medical Device Market Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by End User
- Hospitals
- Clinics
- Others (Labs)
- Thailand Medical Device Market Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Distribution Channel
- Direct Channels
- Indirect Channels
- Distributors
- Retailers
- Thailand Medical Device Market Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Region
- Thailand Medical Device Market
- North Thailand
- Eastern Thailand
- Central Thailand
- South Thailand
- Thailand Medical Device Market
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Key Questions Answered in the Medical Device Report:
- What will be the market value of Thailand Medical Device market by 2030?
- What is the market size of Thailand Medical Device market?
- What are the market drivers of Thailand Medical Device market?
- What are the key trends in Thailand Medical Device market?
- Which is the leading region in Thailand Medical Device market?
- What are the major companies operating in Thailand Medical Device market?
- What are the market shares by key segments in Thailand Medical Device market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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