Market Insights Health Medical Technology Medical Devices

General & Plastic Surgery Devices - Thailand

Thailand

The General & Plastic Surgery Devices market market in Thailand is expected to see a significant increase in revenue, reaching US$134.20m in 2024.
This projection indicates a positive growth trend for the industry.
Furthermore, it is anticipated that the market will continue to expand at an annual growth rate (CAGR 2024-2028) of 6.62%, leading to a market volume of US$173.40m by 2028.
When comparing the global market, it is worth noting that the United States is expected to generate the highest revenue, reaching US$10,150.00m in 2024.
This highlights the dominance of the United States in the General & Plastic Surgery Devices market market.
Thailand is experiencing a surge in demand for advanced general and plastic surgery devices, driven by a growing medical tourism industry.

Key regions: China, Japan, Italy, United States, Netherlands

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Analyst Opinion

The General & Plastic Surgery Devices market in Thailand is experiencing significant growth due to various factors.

Customer preferences: Customers in Thailand are increasingly seeking cosmetic and reconstructive surgeries to enhance their appearance or correct physical deformities. With the growing influence of social media and the desire to look good in photographs, there is a rising demand for procedures such as breast augmentation, liposuction, rhinoplasty, and facelifts. Additionally, the aging population in Thailand is also driving the demand for cosmetic procedures to combat the signs of aging.

Trends in the market: One major trend in the General & Plastic Surgery Devices market in Thailand is the adoption of minimally invasive procedures. Patients are increasingly opting for non-surgical treatments such as Botox injections, dermal fillers, and laser treatments, which offer quicker recovery times and fewer risks compared to traditional surgical procedures. This trend is driven by the desire for less invasive procedures, reduced downtime, and lower costs. Another trend in the market is the increasing use of advanced technologies and devices. Surgeons in Thailand are incorporating innovative techniques and technologies into their practice to deliver better results and improve patient satisfaction. For example, the use of 3D imaging technology allows surgeons to create more accurate surgical plans and simulate potential outcomes for patients. Additionally, the introduction of robotic-assisted surgeries has also gained traction in the market, enabling surgeons to perform complex procedures with greater precision.

Local special circumstances: Thailand has become a popular destination for medical tourism, attracting patients from around the world who are seeking affordable and high-quality healthcare services. The country's reputation for skilled surgeons, state-of-the-art facilities, and competitive pricing has made it a preferred choice for individuals looking to undergo general and plastic surgery procedures. This influx of medical tourists has contributed to the growth of the General & Plastic Surgery Devices market in Thailand.

Underlying macroeconomic factors: Thailand's growing economy and rising disposable income levels have played a significant role in the development of the General & Plastic Surgery Devices market. As people become more financially capable, they are willing to spend on cosmetic procedures to enhance their appearance and boost their self-confidence. Additionally, the government's efforts to promote medical tourism and attract foreign investment in the healthcare sector have also contributed to the growth of the market. In conclusion, the General & Plastic Surgery Devices market in Thailand is witnessing growth due to increasing customer preferences for cosmetic and reconstructive surgeries, the adoption of minimally invasive procedures, the use of advanced technologies, the country's popularity as a medical tourism destination, and the underlying macroeconomic factors.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. 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.

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.