THAILAND HEALTHCARE MARKET

Revenue in the Health Care market is projected to reach US$460.80m in 2023.
Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 7.01%, resulting in a projected market volume of US$604.30m by 2027.
With a projected market volume of US$19,070.00m in 2023, most revenue is generated in China.
In the Health Care market, the number of users is expected to amount to 11.42m users by 2027.
User penetration will be 12.1% in 2023 and is expected to hit 15.8% by 2027.
The average revenue per user (ARPU) is expected to amount to US$55.22.

The eCommerce Health Care market is a sector of online retailing that focuses on the sale of over-the-counter (OTC) pharmaceutical products, which can be purchased without a medical prescription, via a digital channel. Besides medicines, this market segment also includes nutrition food, dietary supplements as well as medical products for private use (e.g., blood pressure monitors, disinfectants, and dressings), but it excludes the sale of prescription drugs.

The relevance of the eCommerce Health Care market lies in its ability to offer consumers a vast selection of products at competitive prices, with the added convenience of home delivery. It also enables brands and retailers to reach customers across different geographies and demographics, expanding their customer base and sales potential.The eCommerce Health Care market has experienced significant growth in recent years, driven by factors such as the increasing popularity of online shopping, the rise of direct-to-consumer brands, and the growing emphasis on preventive health and wellness.

Structure:

The eCommerce market for Health Care consists of eight different markets:

The Analgesics market includes over-the-counter natural and synthetic non-opioid analgesics (only in approved low doses) like Paracetamol, Ibuprofen, Aspirin, Diclofenac and other pain-relieving preparations.

The Cold & Cough Remedies market contains over-the-counter natural and synthetic agents to relieve cough, expectorants and sore throat remedies, cold remedies and preparations against flu-like infections.

The Digestives & Intestinal Remedies market comprises over-the-counter natural and synthetic digestive agents and remedies against gastrointestinal complaints.

The Hand Sanitizer, also known as hand antiseptic, are foam, gel or liquid-based sanitizing agent that is applied on hands for removing various disease-causing pathogens.

The Incontinence market contains adult diapers.

The Skin Treatment market comprises over-the-counter natural and synthetic medical skin treatment products like antibacterial preparations, acne treatment agents, antifungals.

The Vitamins & Minerals market includes over-the-counter natural and synthetic food supplements like multivitamin preparations, minerals, vitamins, tonics and cod liver oil.

The Other Health Care market contains items such as bedpans, first aid items, nutrition food, hearing aids, biometric monitors, and medical tests.

Additional Information:

Health Care comprises revenues, users, average revenue per user, and penetration rates. Revenues are derived from annual filings, national statistical offices, Google- and Alibaba-Trends and industry knowledge. Sales Channels show online and offline revenue shares, as well as, desktop and mobile sales distribution. Revenues are including VAT. The market only displays B2C revenues and users for the above-mentioned markets, hence C2C, B2B and reCommerce is not included. Additional definions can be found on each respective market page.

Total healthcare expenditure in Thailand amounts to approximately $25.3 billion. Costs are expected to increase to $47.9 billion by 2026, reflecting a ten-year compound annual growth rate of 6.6%. Healthcare expenditure as a proportion of GDP is also sizable at 6.6%. The Thai government allocates approximately 13.3% of its total budget to public health services, as Thailand’s Universal Coverage Scheme has been responsible for the rapid increase in demand for medical services and drugs since its initial introduction in 2002. Another factor is Thailand’s aging population: by 2021, 20% of the Thai population will be 60 years of age or older.

Thailand is recognized as one of the world’s most competitive destinations for high-quality and affordable care. Healthcare costs in Thailand are around only one-fifth of those in the United States and Europe. In 2016, the International Healthcare Research Center ranked Thailand’s medical tourism industry as sixth in the world based on the attractiveness of the destination and medical tourism costs. Healthcare in Singapore costs three times, and Malaysia two times, more than in Thailand.

Medical tourists coming to Thailand have in the past accounted for 38% of such visitors to Asia. According to Bangkok Dusit Medical Services PLC (BDMS), Thailand’s largest private hospital group, in recent years, medical tourism in Thailand has been growing at a rate of 16%. Private hospitals are equipped with the latest medical facilities and patients do not have to wait to obtain treatment. Doctors in the country are very well trained in the latest treatments and procedures, and hospitals are outfitted with the most cutting-edge medical technology. Additionally, doctors and other staff in the hospitals have fluent language skills, so patients have little to no communication issues.

Medical services in Thailand save a patient 50% to 75% on medical expenses they would have incurred for similar services in the United States. For example, the average cost of an MRI scan in the United States is $2,611; in Thailand, the same scan costs about $190. The average cost of Lasik vision surgery in the United States is about $2,250, while the same procedure can cost nearly half of that in Thailand. For more serious procedures like a heart-valve replacement including bypass surgery, the biggest savings can be realized. While this type of procedure might cost $75,000 in the United States, it is likely to cost only a third of that price in Thailand. Hip replacement in the United States can cost over $33,000. In Thailand the same procedure may cost only $13,000. Knee replacement surgery in the US can cost $30,000, but only $11,500 in Thailand.

As of May 2019, Thailand has 66 hospitals and healthcare institutions certified by Joint Commission International (JCI). Popular healthcare services among medical tourists include cosmetic surgery, dentistry, cardiovascular disease services, and orthopedic services. Apart from medical treatments, medical tourists also visit Thailand for health checks, cosmetic treatments (such as Botox), wellness, and traditional medicines.

The Royal Thai Government has approved 90-day visas for patients and medical visitors from China, Cambodia, Lao PDR., Myanmar, Vietnam, and the Gulf Cooperation Council (GCC) countries. The Ministry of Public Health has so far listed 118 hospitals and healthcare centers that are eligible to provide a confirmation letter to patients or visitors seeking medical treatment in Thailand.

Best Prospects

Cardiovascular devices
Clinical diagnostic devices
Dental devices
Dermatological devices
Electro-diagnostic devices
Neurological & surgical devices
Ophthalmic devices and instruments
Orthopedic implant devices
Rehabilitation equipment
Therapeutic respiration devices
Ultrasound and x-ray devices

Market Size

Healthcare spending (including investment)	$1,051 billion
… as percent of GDP	6.6%

Hospitals, Procedures, Healthcare Professionals

Number of hospitals	1,421
…Public	1,074
…Private	347
Number of hospital beds	157,072
… available beds per capita	2.4 beds: 1,000 population
…of which in general hospitals	122,470
Physicians	31,484
…of which surgeons	4,664
…of which internists	11,610
…of which pediatricians	5,329
Dentists	15,951

Demographics

Population	69,302,725
Life expectancy men/women	77.01
Infant mortality (per 1000 live births)	9.2
Percent of population older than 65	12%
…projection, 2030	23.39%
Annual deaths	7.7 deaths per 1,000
…caused by Cancer	78,540 in 2018
…caused by Stroke	51,787 in 2018
Prevalence of Heart Disease and Diabetes	Heart disease, 432,943 (2018) Diabetes, over 5 million (2018)