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Medical device industry in Thailand - statistics & facts

The coronavirus (COVID-19) pandemic negatively affected several industries in Thailand such as the tourism and hospitality industry. However, the medical device industry seemed to have benefitted from it, especially for 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 in the next years, reaching around 3.4 billion U.S. dollars in 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 devices which included medical rubber gloves, catheters and medical 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 almost doubled in 2020 compared to 2018.

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. As of the second quarter 2021, Thailand's export value of medical device was the highest for single-use devices, amounting to around 42.7 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 3.7 billion U.S. dollars in 2021. In regards to sales, infusion or transfusion sets for blood work and saline solutions had the highest sales volume among other medical devices, amounting to over 80 million sets as of April 2022.

Thailand as the center of medical device manufacturing 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 of Asia since 2016. In 2018, approximately 600 million U.S. dollars were generated from medical tourism in Thailand. This put the country in third place as a leading medical tourism destination worldwide, after South Korea and the United States. With the government’s efforts of driving Thailand as a medical hub of Asia, there are also opportunities for the medical device industry. A draft of the development plan for medical devices is expected to be conducted by the Office of the National Economic and Social Development Council of Thailand. This plan aims to push Thailand as the center of medical device manufacturing in ASEAN by 2027.
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, Jan 11, 2023

Key insights

Market value forecast of medical devices in Thailand
3.4mn USD
Share of durable medical device global sales in Thailand
66.3%
Number of newly established medical device businesses in Thailand
114
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Total market value of medical devices in Thailand in 2019 with a forecast for 2027 (in million U.S. dollars)

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Import and export estimated value of medical devices in Thailand in 2022 (in million U.S. dollars)

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Import and export value of medical device market Thailand 2022

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