Furthermore, the government’s aspirations to establish Thailand as a healthcare hub and a hub for medical supplies within ASEAN will further propel the industry’s expansion. However, certain challenges may impede this growth. Most Thai manufacturers, particularly small and medium-sized enterprises (SMEs), face constraints in accessing capital and struggle to develop cutting-edge technology. They also heavily rely on imported manufacturing technology and machinery, which exposes them to fluctuations in foreign exchange rates. Additionally, the industry will need to adapt to global trends aiming to reduce environmental impact and transition toward a zero-waste society.
Despite these hurdles, the overall outlook for the industry remains positive. Medical device manufacturers are anticipated to experience steady growth, especially those distributing their products through hospitals and clinics. While the market for distributors of medical devices will also expand, it may do so at a slower pace. Importers of medical devices, particularly those dealing with high-tech products, are expected to witness consistent expansion.
The medical devices sector, encompassing both medical devices and medical equipment, accounts for 1.2% of Thailand’s GDP. This sector is categorized into three segments: single-use devices (e.g., syringes and surgical gloves), durable medical devices, and reagents and test kits. Notably, single-use devices dominate the majority of exports, with Germany leading as the largest exporter, while the United States tops the list of importers.