Bringing You The Next Healthcare and Medical Revolution
Organised by leading international trade fair organiser for the Southeast Asian region, Messe Düsseldorf Asia, MEDICAL FAIR THAILAND returns to Bangkok for its 8th edition bigger and more influential. Continuing its exponential growth path as the landmark event for global brand names and up-and-coming companies to showcase their latest products and services, MEDICAL FAIR THAILAND is the most-established platform for the regional medical and health care community to discover latest emerging trends and technologies.
Asia’s Robust Market Prospects
The growing healthcare industry has become a major sector within the Asian region primarily owing to the increasing awareness of quality healthcare, the rising trend in medical tourism, rapidly ageing populations, higher life expectancy and economic development.
- The healthcare market in the Asia Pacific is expected to reach US$752 billion in 2018
- There are 2.3 billion people aged 65 or older in 2013, and is expected to increase further from 9.8% in 2013 to 11% in 2018. The greying market in Asia is expected to drive increased demand for quality healthcare products and services.
Southeast Asia is, potentially, at the beginning of a health care tipping point. The outlook for Southeast Asia’s healthcare sector continues to be positive, with relative growth for established players as they continue to dominate and enjoy a steady revenue stream that allows them to look into non-traditional, innovative healthcare business models, services, and geographic expansion.
The Future of Healthcare in Southeast Asia
As part of the vision for the ASEAN Economic Community (AEC) set for 2015, healthcare has been identified as a priority sector for accelerated economic integration toward a single ASEAN market, with the road map covering covers 5 industries including pharmaceuticals, cosmetics, medical devices, traditional medicines and health supplements.
What this means for the region:
- The AEC will allow ASEAN investors to hold up to 70% shared ownership in services businesses, including healthcare in Thailand, Malaysia, Singapore, Indonesia, Philippines and Brunei
- ASEAN total healthcare spend in 2011 was US$68 billion
- Thailand’s healthcare expenditure is expected to reach US$25 billion in 2020
- To date, Thailand, Singapore, and Malaysia are the ASEAN region’s leading exporters of healthcare services
- 327 hospitals and more than 1050 public hospitals, 30,880 beds
- Healthcare expenditure at 4% of GDP
- 18,000 clinics in Thailand, about 78% up-country and 22% in Bangkok
- Thailand Hospitals and the AEC - Healthcare services sector is one of the AEC’s four priority integration sectors. There are two main aspects that will be in focus for the integration: increasing foreign ownership limit and mobility of medical personnel. The liberalisation of the healthcare sector will affect private hospitals in all ASEAN countries as the foreign ownership restrictions will be eased to allow ownership of up to 70%. Currently, foreign ownership in private hospitals in Thailand is about 15%.