Thailand Biomaterials in Healthcare Market Report 2022 to 2030

Thailand Biomaterials in Healthcare Market Analysis

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Thailand Biomaterials Healthcare Market is expected to witness growth from $188 Mn in 2022 to $518 Mn in 2030 with a CAGR of 13.54% for the forecasted year 2022-30. Geriatric population and a rise in medical problems, there is a rising demand for biomaterials in Thailand. The market is segmented by type and by application. Some key players in this market include Biomed, Meticuly, BASF SE, Johnson and Johnson, Medtronic and Evonik Industries.

ID: IN10THMD003 CATEGORY: Medical Devices GEOGRAPHY: Thailand AUTHOR: Jigyasu Bhandari

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Thailand Biomaterials in Healthcare Market Executive Analysis

Thailand Biomaterials Healthcare Market is expected to witness growth from $188 Mn in 2022 to $518 Mn in 2030 with a CAGR of 13.54% for the forecasted year 2022-30. It is estimated that Thailand's healthcare system costs $25.3 Bn in total. By 2026, costs are anticipated to rise by $47.9 Bn, which would represent a cumulative annual growth rate of 6.6% over the previous 10 years. The cost of healthcare accounts for 6.6% of GDP, which is also significant. Another problem is Thailand's ageing population, which by 2024 will account for 20% of the country's population. Thailand spent $296 per person on healthcare in 2019. Thailand's health spending per person increased on average every year from $62 in 2000 to $296 in 2019, an increase of 8.83%.

In Thailand, Orthopaedic devices are made using biomaterials like ceramic, metal, and polymers. Bones, joints, and ligaments that have been injured may be repaired or replaced using these implants. Utilizing biomaterials in orthopaedics has advantages such as decreased implant rejection, enhanced durability, and better patient comfort. In tissue engineering uses, biomaterials like collagen, hyaluronic acid, and chitosan are used. Skin, cartilage, and bone tissue regeneration scaffolds can be made using these components. Reduced rates of rejection, enhanced functionality, and better patient results are all advantages of using biomaterials in tissue engineering. Drug delivery uses use biomaterials like nanoparticles and liposomes. Targeting particular tissues or cells with these materials can increase drug effectiveness while lowering side effects. Better drug targeting, greater drug effectiveness, and decreased toxicity are advantages of using biomaterials in drug delivery.

thailand biomaterials in healthcare market

Market Dynamics

Market Growth Drivers

Geriatric population and a rise in medical problems, there is a rising demand for biomaterials in Thailand. The demand for biomaterials in the manufacturing of medical equipment like implants, prosthetics, and surgical instruments is propelling the expansion of the Thai biomaterials healthcare market. Technology developments have produced novel biomaterials and improved manufacturing techniques. The market has grown as a result of manufacturers being able to create high-quality biomaterials more easily and affordably. The environmental effect of conventional healthcare materials like plastics is a topic of growing public awareness. Because they provide a more environmentally friendly option, nanomaterials are in higher demand in the Thai healthcare sector. Due to its affordable costs and top-notch medical facilities, Thailand has grown to be a popular location for medical tourists. As a result, there is now a higher demand for biomaterials to be used in medical operations, which is fueling the market's expansion.

Market Restraints

In Thailand, the creation and production of biomaterials can be expensive, which may restrict their use by Thailand consumers and healthcare professionals. Manufacturers may find it challenging to compete with conventional healthcare materials due to high costs. It can be difficult for Thai producers of nanomaterials to protect intellectual property. Manufacturers may be exposed to risks as a result, including the chance that their goods will be copied or that their patents will be contested.

Competitive Landscape

Key Players

Biomed (TH)
Meticuly (TH)
BASF SE
Johnson and Johnson
Medtronic
Evonik Industries

Healthcare Policies and Regulatory Landscape

The safety, effectiveness, and quality of biomaterials in Thailand are governed by the Thai Food and Drug Administration (FDA). Before being sold in Thailand, medical devices and biomaterials must be registered with the FDA. Thailand's Medical Device Act governs the production, distribution, and importation of medical equipment. According to the law, medical device manufacturers must adhere to Good Manufacturing Practices (GMP) and Quality System Regulations (QSR) and file their products with the Thai FDA. The National Biobank Policy seeks to encourage the growth of biobanks in Thailand, which will aid in the development of biomaterials as well as research and development in the healthcare sector. Thailand's Innovation and Technology Transfer Act offers financial rewards and other forms of assistance. This policy promotes the creation of biomaterials.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Biomaterials in Healthcare Market Segmentation

By Type (Revenue, USD Billion):

Based on type, the market is segmented into Metallic Biomaterials, Polymeric Biomaterials, Ceramic Biomaterials, and Natural Biomaterials. The Metallic Biomaterials segment accounted for the largest share of the Thailand market in 2019. The growing geriatric population Thailandly is expected to drive growth for this segment.

Metallic Biomaterials
- Stainless Steel
- Titanium & Titanium Alloys
- Cobalt-Chrome Alloys
- Gold
- Silver
- Magnesium
Polymeric Biomaterials
- Polymethylmethacrylate
- Polyethylene
- Polyester
- Silicone Rubber
- Nylon
- Polyetheretherketone
- Other Polymeric Biomaterials
Ceramics
- Calcium Phosphate
- Zirconia
- Aluminum Oxide
- Calcium Sulfate
- Carbon
- Glass
Natural Biomaterials
- Hyaluronic Acid
- Collagen
- Gelatin
- Fibrin
- Cellulose
- Chitin
- Alginates
- Silk

By Application (Revenue, USD Billion):

The cardiovascular, orthopaedic, dental, plastic surgery, wound healing, tissue engineering, ophthalmology, neurological/CNS, and other applications segments are made up of the biomaterials market. The market category for wound healing is anticipated to have the highest CAGR in 2019. The market will increase as a result of factors including expanding healthcare infrastructure, a large population pool, a rising diabetic population, and rising healthcare spending. Surgical Guides

Cardiovascular
- Catheters
- Stents
- Implantable Cardiac Defibrillators
- Pacemakers
- Sensors
- Heart Valves
- Vascular Grafts
- Guidewires
- Others
Orthopedic
- Joint Replacement
  - Knee Replacement
  - Hip Replacement
  - Shoulder Replacement
  - Others
- Viscosupplementation
- Bioresorbable Tissue Fixation
- Spine?
  - Spinal Fusion Surgeries
  - Minimally Invasive Fusion Surgeries
  - Motion Preservation & Dynamic Stabilization Surgeries
    - Pedicle-Based Rod Systems
    - Interspinous Spacers
    - Artificial Discs
- Fracture Fixation Devices
  - Bone Plates
  - Screws
  - Pins
  - Rods
  - Wires
- Synthetics Bone Grafts
Ophthalmology
- Contact Lenses
  - Intraocular Lenses
  - Functional Replacement of Ocular Tissues
  - Synthetic Corneas
  - Others
Dental
- Dental Implants
- Dental Bone Grafts & Substitutes
- Dental Membranes
- Tissue Regeneration
Plastic Surgery
- Soft-Tissue Fillers
- Craniofacial Surgery
Wound Healing
- Wound Closure Devices
  - Sutures
  - Staples
- Surgical Hemostats
- Internal Tissue Sealants
- Adhesion Barriers
- Hernia Meshes
Tissue Engineering
- Scaffolds for Regenerative Medicine
- Nanomaterials for Biosensing
- Tailoring of Inorganic Nanoparticles
  ?
Neurological/Central Nervous System Applications
- Shunting Systems
- Cortical Neural Prosthetics
- Hydrogel Scaffolds for CNS Repair
- Neural Stem Cell Encapsulation
  ?
Other Applications
- Drug Delivery Systems
- Gastrointestinal Applications
- Bariatric Surgery
- Urinary Applications

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

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How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.