Medical device industry in Thailand - statistics & facts

The medical device industry benefitted from the coronavirus (COVID-19) pandemic. Due to the boom in the production of personal protection products such as medical rubber gloves, masks, and alcohol disinfectants. The market value of medical devices in Thailand was forecast to increase over the next years, reaching around 11.4 billion U.S. dollars by 2027. Thailand is also one of the largest importers and exporters in Asia for medical devices. Most of the medical devices exported from Thailand were single-use, including rubber gloves, catheters and tubing, syringes and hypodermic needles, and bandages and dressings. In regards to the business volume in the medical device industry in the country, the number of newly established medical device businesses peaked in 2021.

Medical device manufacturing and sales in Thailand

The production of medical devices in Thailand is targeted for exports. Medical devices produced in Thailand are mostly fundamental items that do not require a lot of technology or innovative methods, namely single-use devices, reagents and test kits, and durable medical devices. The leading sub-sectors include medical devices used to diagnose and treat COVID-19, cardiovascular devices, dental devices, dermatological devices, and electro-diagnostic devices. In May 2023, single-use devices were the most exported medical devices, amounting to around 9.4 billion Thai baht. Some of the major medical device manufacturers in Thailand are both local and foreign manufacturers. Since the Thailand Board of Investment launched a policy supporting foreign investments such as exempting import tax as per imposed criteria, the production of medical devices in the country was estimated to reach over 4.9 billion U.S. dollars in 2022. In terms of sales, infusion or transfusion sets for blood work and saline solutions had the highest sales volume among other medical devices in August 2023.

Future medical hub in ASEAN

As the medical industry is one of the focused industries stated in the national policy, the Thai government has been aiming to position Thailand as a medical hub in Asia since 2016. In 2018, approximately 600 million U.S. dollars were generated from medical tourism in Thailand. This put the country on the map as a leading medical tourism destination worldwide, after the United States, South Korea, and Turkey. In 2023, an estimated 22.5 billion U.S. dollars were spent on healthcare in Thailand, with this number expected to reach roughly 31.8 billion in 2028. With the government’s efforts to transform Thailand into a medical hub of Asia, there are also opportunities for the medical device industry. In addition, by 2028, the Thai government aims to push Phuket as a first-class medical tourism hub with specialized medical treatment facilities ranging from a cardiac center and senior care facility to disease institutes.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Dec 20, 2023

Key insights

Market value of medical devices in Thailand
6.9bn USD
Share of durable medical device global sales in Thailand
65.8%
Number of newly established medical device businesses in Thailand
49
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Medical device market value in Thailand in 2023 with a forecast for 2030 (in billion U.S. dollars)

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Market value of medical devices Thailand 2023-2030

Import and export value of medical devices in Thailand in 2022 (in billion Thai baht)

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Import and export value of medical device market Thailand 2022

Total market value of medical tourism expenses in Thailand from 2017 to 2022 with a forecast for 2023 (in billion Thai baht)

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