Thailand Connected Healthcare Market Report 2022 to 2030

Thailand Connected Healthcare Market Analysis

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The Thailand-connected healthcare market is projected to grow from $76.63 Mn in 2022 to $600.89 Mn by 2030, registering a CAGR of 28.74% during the forecast period of 2022 - 2030. The main factors driving the growth would be the ageing population, increasing healthcare spending and government support. The market is segmented by type, function and by application. Some of the major players include Bumrungrad Hospital, Piyavate Hospital, Ramathibodi Hospital, Medtronic, Doctor Anywhere, and GE Healthcare.

ID: IN10THHS004 CATEGORY: Healthcare Services GEOGRAPHY: Thailand AUTHOR: Neha Davda

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Thailand Connected Healthcare Market Executive Summary

The Thailand-connected healthcare market is projected to grow from $76.63 Mn in 2022 to $600.89 Mn by 2030, registering a CAGR of 28.74% during the forecast period of 2022 - 2030. Thailand spent 3.79% of its GDP, or $296 per person, on government health care in 2019. Thailand is regarded as one of the most cutthroat locations in the world for finding inexpensive, top-notch healthcare. Thailand's healthcare costs are roughly one-fifth as expensive as those in the US and Europe.

The connected healthcare market describes the application of digital technology to the delivery and accessibility of healthcare services, including electronic health records, and m-health applications. In South East Asia, Thailand has the second-largest internet economy. The nation also leads the region in 5G deployment and has one of the fastest internet speeds. Rather than start-ups and user adoption, public and private hospitals are the main top-down influencers of the Thai digital health industry. Many initiatives, like the Thailand 4.0 strategy and the 2017–2026 eHealth Strategy, have been developed by the Thai government to support the sector's growth.

Thailand Connected Healthcare Market

Market Dynamics

Market Growth Drivers

The Thailand-connected healthcare market is expected to be driven by factors such as:

Ageing population- The population of Thailand is ageing quickly, and an increasing number of people need healthcare services for long-term illnesses including diabetes and heart disease. By remote monitoring and individualised care, connected healthcare systems can assist in better managing chronic illnesses
Increasing healthcare spending- Thailand has had a steady rise in healthcare spending, which may be attributed to a number of causes including population expansion, rising income levels, and a burgeoning middle class. The increased demand for healthcare services has given technology firms and healthcare providers the chance to develop and implement creative solutions
Government support- The usage of connected healthcare solutions has been aggressively encouraged by the Thai government to enhance healthcare delivery and accessibility, particularly in rural areas. The creation of supportive rules and regulations as well as greater investment in digital healthcare initiatives and infrastructure have resulted from this

Market Restraints

The following factors are expected to limit the growth of the connected healthcare market in Thailand:

Limited digital literacy- Thailand has a high rate of smartphone use, but many people still lack the digital literacy abilities needed to use digital healthcare solutions successfully. This could make it more difficult for people to embrace these solutions and reduce their appeal, especially to older people or people who live in remote areas
Limited reimbursement policies- In Thailand, there are limited reimbursement regulations in place for digital healthcare solutions. This might make it less likely that patients and healthcare professionals will use these solutions, especially if they have to pay out of pocket
Data privacy and security concerns- The adoption of connected healthcare technologies in Thailand can be constrained by concerns about data security and privacy. If patients and healthcare professionals are unsure that their personal and medical information will be kept private, they may be reluctant to employ these solutions

Competitive Landscape

Key Players

Bumrungrad Hospital (THA)- A private hospital in Bangkok that provides online consultations and telemedicine services
Private Hospital (THA)- Piyavate Hospital is one of the best hospitals in the nation known for its focus on holistic care that meets high international standards
Ramathibodi Hospital (THA)- Ramathibodi Hospital is a university hospital affiliated with Mahidol University's College of Medicine. It provides online consultations and telemedicine services
Medtronic- An American manufacturer of medical devices that provides connected health solutions for illness management and remote patient monitoring.
Doctor Anywhere- A Singapore-based telemedicine business that provides drug delivery and online consulting services
GE Healthcare- An international healthcare company based in the US that provides connected health solutions for clinical decision-support and remote patient monitoring

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 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 Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Connected Healthcare Market Segmentation

By Type (Revenue, USD Billion):

Based on the Type the market is segmented into mHealth services, mHealth Devices, and E- Prescription

MHealth services
mHealth Devices
E- Prescription

By FunctionType (Revenue, USD Billion):

Remote patient monitoring
Clinical monitoring
Telemedicine
Others (Assisted Living)

By Application Type (Revenue, USD Billion):

Diagnosis and Treatment
Monitoring Application
Wellness and Prevention
Healthcare management
Others

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.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

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.