Thailand is quickly becoming a regional hub for the medical industry, and international firms are taking advantage of its upgraded facilities, service, research and manufacturing capabilities to further the field.
International manufacturers already doing business in Thailand include 3M, Bausch & Lomb, GE Medical Systems, Johnson & Johnson, Medtronic, and Siemens - all who are reaping the rewards of a medical & healthcare industry that is considered a hotspot for sales, investment, and growth.
As in Western countries, Thailand’s medical industry is serviced by fine hospitals and physicians, long-term care facilities, health spas, diagnostic laboratories, pharmacies, and the manufacture of drugs and medical equipment. It’s also earning respect as a prime location for R&D, and clinical trials in advanced medicine such as stem cell therapy.
Southeast Asia’s largest hospital can be found in Bangkok; the country was the first in all of Asia to receive the prestigious Joint Commission International (JCI) accreditation; and there are over 1,000 public and 400 private facilities in a nation often regarded as one of the world’s leading health tourism destinations.
Despite a thriving chemical-manufacturing industry and natural biodiversity that supports a wide range of pharmaceutical production, Thailand imports nearly US$1 billion worth of medicinal products each year; and when you also consider the greater ASEAN region’s reliance on imported drugs, the great potential for even more manufacturing in Thailand is evident.
It’s also a top destination for conventions in the medical field due to an ever-increasing number of foreign patients – both medical tourists and patients from the substantial expat community – which provides tremendous investment opportunities for international medical & healthcare concerns.
But what really sets Thailand apart is a creative approach to business events, its incredible value as a destination, and a myriad of high-potential business opportunities that are available to organisers intent on arranging fulfilling and memorable events for visitors.