New Medical Devices market report from Espicom Business Intelligence: "The Medical Device Market: Thailand"
Boston, MA -- (SBWIRE) -- 07/02/2013 -- Espicom’s in-depth medical device market reports are ideal for executives wanting to understand the key drivers in medical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.
The Thai medical device market has been undergoing a period of strong growth, and if fundamentals remain the same, the market looks set to expand at an attractive12.3% per annum in the medium term.
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This growth could be somewhat tempered as a result of a global economic downturn, but the percentage point growth rate is still expected to be high by world standards.
In 2012, the Thai market for medical equipment and supplies is estimated at US$1,071.3 million, equal to US$15.6 per capita. Overall market size is similar to Israel and Finland, while in per capita terms the market is more akin to Argentina and Colombia.
Market growth is tied to the strength of the United States economy and the performance of the local currency against the dollar. After a period of slow recovery, imports surpassed the pre-late 90s economic crash for the first time in 2004 and has grown strongly since then, all while the country has continued to maintain a steady positive balance of trade.
Based on the latest yearly data, imports for full year 2011 rose sharply by 23.0% to reach a new high of US$822.5 million. All categories posted double-digit growth rates except patient aids, which still posted a rise of 5.7% over the previous year. The largest category, diagnostic imaging, grew by 18.7% over the previous year to reach US$245.6 million.
The government has continued to back the universal healthcare system. In April 2009, the government announced it was raising the per capita expenditure budget to 2,400 baht (US$70) per head in fiscal 2010, from 2,202 baht. In overall terms, the government allocation for the scheme totalled 112.8 million baht (US$3.3 billion) for 2010.
PROVIDING STRATEGIC MARKET ANALYSIS EVERY MONTH
Espicom's highly-regarded world medical technology and device market research reports provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the medical equipment market in context. The reports provide:
Unique projected estimates of market size and growth for 33 equipment categories
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