Thailand Medical Devices Market 2024-2030

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    THAILAND MEDICAL DEVICES MARKET

     

    INTRODUCTION

     

    The medical device industry in Thailand is one of the most well-known and well-established in the ASEAN region. Regarding imports and exports, when compared to other ASEAN nations, Thailand comes in first and second place.

     

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    Thailand also uses a lot of medical equipment for household use. The proliferation of medical services is to blame for this.

     

    For instance, Thailand produces more medical gadgets every year, especially those that are single-use. Other cutting-edge ones, such as optical or ophthalmic gadgets, are imported. This is a result of a lack of domestic output.

     

    Thailand offers an abundance of raw materials for manufacturing medical equipment, particularly for single-use items like rubber and plastic. Additionally, several organizations and laws that assist the R&D process and intellectual property protection make sure that the manufacturer may market their goods.

     

     

    THAILAND MEDICAL DEVICES MARKET SIZE AND FORECAST

     

    The Thailand Medical Devices Market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

     

     

    THAILAND MEDICAL DEVICES MARKET DYNAMICS

    The world’s largest manufacturer and distributor of medical devices, B.Braun Thailand, recently opened the “B. Braun Technical Service Center,” which will offer professional repair and maintenance services for medical equipment.

     

    The recently established center intends to assist Thailand’s public health system in guaranteeing that it can offer seamless healthcare support to its inhabitants. The center supports B. Braun’s mission to safeguard and enhance human health worldwide.

     

    A new alliance in the development and research of medical devices was announced by NSTDA and PPT Public Company Limited. The partnership is in accordance with Thailand’s national Bio-Circular-Green Economy (BCG) goal, which aims to strengthen the country’s core strategic industries, including the medical devices sector.

     

    The initiative will help meet the expanding healthcare needs of Thailand’s elderly population as well as the country’s demand for medical equipment due to the epidemic. Under the NSTDA-PTT relationship, two projects have already been identified: a technology transfer of hydroxyapatite-titanium dioxide composite coating solution and a research partnership on implant devices.

     

    Thonburi Hospital, a private hospital in Thailand, and Chunghwa Telecom Co., a telecommunications firm based in Taiwan, have signed a memorandum of understanding to continue working together on the hospital’s digital transformation.

     

    Their most recent agreement calls for them to continue working together to use the smart ward point-of-care technologies from Chunghwa. Chunghwa is able to provide smart ward solutions to Thonburi Hospital, including a smart nursing station, an all-in-one vital sign kiosk, an automated dispensing cabinet, an e-paper bedside information display, and a ToF fall management system, thanks to the support of Taiwanese medical AI company imedtac and medical device company MD Healthcare from Thailand.

     

    The Thai FDA requires pre- and post-market approval for Software as Medical Devices (SaMDs), which are classified as medical devices in Thailand. At this time, all SaMD fall within the category of general medical devices and call for an import licence.

     

    Thailand’s expanding healthcare system is stimulating the country’s medical device market. The Thai market is expanding as a result of two key factors. The first is an increase in domestic spending on health care. The population is aging quickly, and as more people live longer, non-communicable diseases like diabetes and cardiovascular disease are becoming more common.

     

    The second factor is Thailand’s status as a well-known center for medical tourism. Asia’s #1 destination for medical tourism is a result of efforts to have its healthcare services certified internationally.

     

     

    THAILAND MEDICAL DEVICES MARKET NEW PRODUCT LAUNCH

    The SafeTouch Safety Needle, with its user-friendly anti-needlestick safety design, has been introduced by Nipro Medical Corporation, a market leader in the production of medical devices.

     

    The newest addition to Nipro’s line of medical-surgical devices is the SafeTouch Safety Needle. The low bevel profile and simple safety mechanism of the SafeTouch Protection Needle are specially created for the safety of both patients and healthcare professionals. 

     

    After removing the needle from the SafeTouch Safety Needle, it is simple to activate the safety shield with one hand. The safety shield locks into position both visibly and audibly to prevent the user and patient from the possibility of unintentional needlesticks.

     

    The SafeTouch Safety Needle is compatible with all ISO 594 certified syringe hubs and comes in a variety of diameters, ranging from 18 to 30 gauge.

     

    Thai Food and Medical Products Clearance Authority granted Yoshiyuki Sankai’s HAL Single Joint Type medical device approval. Patients who have limited mobility in their upper and lower limbs due to muscle weakness or paralysis should use the product. The operators can also treat upper limbs using HAL Single Joint Type, unlike HAL for Lower Limb Type.

     

    THAILAND MEDICAL DEVICES MARKET RECENT PRODUCT DEVELOPMENT AND INNOVATION

    An innovative and extensively used medical device called the Zimmer M/L Taper Hip Prosthesis was created to enhance the quality of life for people with hip joint-related disorders like osteoarthritis, hip fractures, and other degenerative conditions.

     

    The M/L Taper Hip Prosthesis is a state-of-the-art implant designed by Zimmer Biomet, a renowned provider of medical devices, with the goal of reducing discomfort, restoring mobility, and enhancing general functionality for people with damaged hip joints.

     

    An artificial implant or prosthesis is used to replace a broken or diseased hip joint during hip arthroplasty, also referred to as hip replacement surgery.  This procedure’s main goals are to reduce pain and get the hip joint back to normal operation, which will make it easier for the patient to go about their regular business pain-free.

     

    The Zimmer M/L Taper Hip Prosthesis is a part of the extensive Zimmer Biomet Hip product line, which also offers a variety of implant types and surgical approaches that are specifically suited to each patient’s unique requirements. Modern engineering techniques and materials were used in the construction of the M/L Taper Hip Prosthesis to guarantee patient safety, stability, and a long-lasting solution.

     

    The M/L Taper Hip Prosthesis’s taper design, which refers to the implant’s steady decrease in diameter throughout its length, is one of its distinguishing qualities.

     

    The greater implant stability, improved load transmission, and decreased stress on the surrounding bone are just a few advantages of this taper design. A more stable fit between the implant and the bone is made possible by the tapered geometry, which lowers the risk of implant slipping and improves long-term results.

     

    The Zimmer M/L Taper Hip Prosthesis’ adaptability is another important feature. Because the system comes in several sizes, orthopedic surgeons can choose the best implant for each patient depending on their anatomical traits and unique needs. 

     

    Additionally, the M/L Taper Hip Prosthesis offers a variety of material choices, including titanium and cobalt-chromium, giving surgeons the freedom to select the material that best meets the demands of their patients.

     

    The Zimmer M/L Taper Hip Prosthesis is implanted via a surgical process that entails removing the hip joint’s defective components and preparing the femur and acetabulum (hip socket) to accommodate the implant. The implant gradually fuses with the patient’s anatomy after being firmly implanted in the bone.

     

    Patients engage in a thorough rehabilitation program following surgery to speed up recovery. Exercises and physical therapy are frequently used to increase range of motion and strengthen the muscles surrounding the hip joint.

     

    Globally, the Zimmer M/L Taper Hip Prosthesis has established itself as a reliable and successful option for hip joint replacement procedures.

     

    In addition to improving patient outcomes, its cutting-edge design and Zimmer Biomet’s dedication to research and development help people suffering from hip joint issues live better lives. As with any medical operation, patients thinking about getting a hip replacement should speak with their orthopedic surgeon to find the best course of action for their particular condition.

     

    THAILAND MEDICAL DEVICES MARKET DYNAMICS

    Thailand’s new regulations provide more standardization across the ASEAN region and are expected to enhance patient safety. U.S. exporters of medical devices may benefit from the changes in these registration procedures for medical devices in Thailand. As an example, the changes enable U.S. companies to access a period of licence validity of up to five years once they receive a license in Thailand. 

    Medical devices are generally regarded as high quality in the Thai market and multiple medical construction projects are currently underway or being planned. Thailand has signed the ASEAN agreement on medical device directive accepting the AMDD. Singapore, Malaysia, and Indonesia have fully complied with the AMDD. 

     

     

    THAILAND MEDICAL DEVICES MARKET COMPETITIVE LANDSCAPE

    Infus Medical is a Thai-registered company that specializes in full-service contract manufacturing of single-use Class II and Class III medical devices for the global multinational medical device sector using OEM and private label applications.

     

    They focus on items for minimally invasive surgery, implants, biopsy, critical care, blood transfusion systems, apheresis, renal and IV therapy, as well as implantable devices and blood transfusion systems.

     

    A new era in patient care is being shaped by the revolutionary medical technologies and services offered by GE Healthcare. GE has more than 2,500 pieces of diagnostic imaging medical equipment placed in more than 600 Thai institutions, playing a crucial role in the country’s healthcare sector. 

     

    With Bumrungrad Hospital, GE Healthcare entered into a contract to deliver the country’s first MRI 3.0 Tesla machine. The Revolution CT-512 slices scanner and MRI 3T Architect will be provided to Siriraj Hospital, according to an agreement announced by GE Healthcare. 

     

    BioWhittaker, Inc., a producer of cell culture, endotoxin, and diagnostic kits, made the decision to enter the Asian biotech sector. The business intends to promote and distribute its goods while also considering potential manufacturing collaborative partnerships. To start doing business in Thailand, it intends to take part in the US-Thailand Commercialization of Science and Technology Program (UST/COST).

     

    THIS THAILAND MEDICAL DEVICES MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

    1. How many Medical Devices are manufactured per annum in Thailand? Who are the sub-component suppliers in this regions?
    2. Cost breakup of a Thailand Medical Devices and key vendor selection criteria
    3. Where is the Medical Devices manufactured? What is the average margin per unit?
    4. Market share of Thailand Medical Devices market manufacturers and their upcoming products
    5. Cost advantage for OEMs who manufacture Thailand  Medical Devices in-house
    6. key predictions for next 5 years in Thailand Medical Devices market
    7. Average B-2-B Medical Devices market price in all segments
    8. Latest trends in Medical Devices market, by every market segment
    9. The market size (both volume and value) of the Medical Devices market in 2024-2030 and every year in between?
    10. Production breakup of Medical Devices market, by suppliers and their OEM relationship
    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2023-2030
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2023-2030
    19 Market Segmentation, Dynamics and Forecast by Application, 2023-2030
    20 Market Segmentation, Dynamics and Forecast by End use, 2023-2030
    21 Product installation rate by OEM, 2023
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2023
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix
       
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