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Private hospital business is expected to enjoy average annual growth of 10-13% from 2019 to 2021. Business expansion will be underpinned by structural changes in Thai demographics, including the aging society, continuing urbanization, and the ongoing growth of the middle classes. In addition, increasing health-awareness trend globally with personal health and wellness will also help to support sectoral growth.

Updated the key Industry Indicator: Private Hospital in each industry.By Poonsuk Ninkitsaranont

Updated the key Industry Indicator: Private Hospital in each industry.By Poonsuk Ninkitsaranont

In 2020 operating results of private hospitals have been under pressure from the COVID-19 epidemic, affecting purchasing power of Thai and foreign patients

Currently, there are 38,512 medical facilities in Thailand, comprising 13,364 public hospitals, accounting for 34.7%

Domestic drug sales in 2020 are likely to expand at a low 2.0-3.0% as a result of the number of hospital admissions, both Thai and foreign

Growth in the value of the domestic market for pharmaceuticals is forecast to slip to just 2.5% in 2021. This is largely due to Thailand’s 3rd wave of Covid-19, which has caused a drop off in hospital visits for those seeking treatment for less serious conditions. However, over 2022 and 2023, annual growth in the market should accelerate to 3.5% on: (i) a rising concern among Thais over personal health and wellness, itself partly a side-effect of the Covid-19 pandemic; (ii) the aging of Thai society, which is driving an increase in the number of individuals needing treatment for chronic non-communicable diseases; (iii) the broad coverage provided by the Universal Health Coverage scheme; and (iv) the return of foreign patients to Thai hospitals.

2023 Investment Inducing Growth

Global value chains are shortening as countries are moving to increase their self-reliance and to boost their capacity for domestic technological innovation