Hospitals - Thailand

Thailand

The Hospitals market in Thailand is projected to reach a revenue of US$10.59bn in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 5.68%, resulting in a market volume of US$13.96bn by 2029.
In global comparison, in the United States is projected to generate the most revenue in the Hospitals market, with US$1,501.00bn in 2024.
In relation to the total population figures, per person revenues of US$147.40 are generated in Thailand in 2024.
The hospital market in Thailand is witnessing a growing demand for specialized medical tourism services.

Key regions: United States, China, Germany, Japan, Europe

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Analyst Opinion

Thailand, known for its beautiful beaches and delicious cuisine, has also been experiencing a steady growth in its Hospitals market.

Customer preferences: Thailand's Hospitals market has been driven by the increasing demand for medical tourism. With its affordable healthcare services, Thailand has become a popular destination for medical tourists from all over the world. Patients seeking elective procedures such as cosmetic surgery, dental care, and fertility treatments have been flocking to Thailand, attracted by the lower costs and high-quality services offered by its hospitals.

Trends in the market: One of the key trends in the Hospitals market in Thailand is the growing focus on technology and innovation. Hospitals are investing in advanced medical equipment and adopting new technologies to enhance their services and provide better patient care. Telemedicine, electronic medical records, and digital diagnostic tools are some of the technologies that are being increasingly used in the Hospitals market in Thailand.Another trend in the market is the rise of wellness tourism. With the increasing awareness of the importance of maintaining good health, more and more people are traveling to Thailand to experience its traditional healing practices such as Thai massage, herbal treatments, and meditation. This has led to the growth of wellness centers and spas in the country, providing a range of services to cater to the needs of health-conscious travelers.

Local special circumstances: One of the factors that has contributed to the growth of the Hospitals market in Thailand is the government's support for the healthcare industry. The government has been investing in the development of healthcare infrastructure and promoting medical tourism through various initiatives. This has created a favorable environment for hospitals to grow and expand their services.Another special circumstance is the availability of highly skilled medical professionals in Thailand. The country has a large pool of well-trained doctors and nurses who are able to provide high-quality medical care to patients. This has helped to build a reputation for Thailand as a destination for medical tourism.

Underlying macroeconomic factors: Thailand's growing middle class and increasing disposable income have also contributed to the growth of the Hospitals market. As people become more affluent, they are willing to spend more on healthcare services and are looking for better quality care. This has created a demand for private hospitals and clinics that offer premium services.In conclusion, the Hospitals market in Thailand has been driven by the increasing demand for medical tourism, the focus on technology and innovation, and the rise of wellness tourism. The government's support for the healthcare industry, the availability of highly skilled medical professionals, and the growing middle class with increasing disposable income have also contributed to the growth of the market.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on revenue received by hospitals from public or private sources, allocated to the country where the money is spent, including VAT if applicable.

Modeling approach / Market size:

Market sizes are determined by a bottom-up approach, based on a specific rationale for each market market. Next, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, public health spend, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.