Healthcare

Thailand’s aging population, government policies and medical tourism are contributing to a remarkable boom in the healthcare industry. Healthcare tourism and the universal healthcare coverage for Thai nationals since 2002 have been significant in this development.

 

Since 2002 Thailand has implemented basic universal healthcare coverage for all Thai nationals. This has meant that there has been a significant growth in both influx and usage of the public sector. By 2020 the healthcare expenditure in Thailand is expected to grow to USD 25 billion. Thailand continues to be ahead of the region with most Joint Commission International (JCI) accredited hospitals. The expansion and improvement of both private and public hospitals are driving a growing demand for premium medical devices, welfare technologies, care products and associated services.

 

Medical tourism is another driver for healthcare expansion. More than 3 million International patients each year travel to Thailand to get premium treatment. For the past decade this industry has seen a growth of 15 per cent per year, and as such it now represents an industry worth more than USD 4 billion.

 

Also, Thailand is aging rapidly.  The number of individuals aged 60 and above in the Thai population increased more than seven-fold between 1960 and 2015 rising from 1.4 million to 10.7 million (over 15% of total Thai population), Thailand will be home to about 17 million seniors by 2021 and by 2040, a quarter of the Thai population could be over the age of 65. The Thai government is giving very serious attention to population aging issues and put this topic as a priority on their agenda while private healthcare service providers are showing high interest in this topic.

 

Both public and private sectors are seeking for innovative solutions in a booming healthcare sector.