“Future of Thailand’s Healthcare Industry in Tier 2 Cities”, highlighting key findings like Thailand’s aging society, medical tourism and AEC, driving healthcare investment in the future.
Here are the key highlights of Solidiance findings :
1. Thailand will become an aged society by 2022 as the number of senior citizen is expected to account for 19% of the total population
• Demand for healthcare services is expected to grow as aging population will increase the demand for both medical treatment and care.
• Treatment and care for chronic diseases will be among the primary focus for maintaining elder citizens.
• Aging population boom puts pressure for the government to plan for facilitating the change by improving medical facilities and personnel in public hospitals
2. Medical tourism in Thailand grew by 17.5% CAGR from 2007- 2011. In addition, Thai government is promoting Thailand as a hub for medical.
Medical tourism is one of the main drivers for private hospital investment in the future. In 2012, the number of foreigners seeking medical treatment in Thailand reached 2.53 million and brought THB 121.6 billion (USD 4 billion) to the country.
3. AEC is expected to encourage "Ribbon Development" of urbanization in Tier 2 cities and border provinces, as it happened in Bangkok and vicinities over the past decade.
• AEC is expected to accelerate the urbanization in Thailand Tier 2 cities and border provinces, resulting in higher number of patients who could afford premium medical care.
• However, better connectivity with neighbor countries could lead to influx of labors. This puts stress to the government's plans of transmitted disease control.
• Scarcity of medical personnel, especially specialist, outside Bangkok will be more critical in border provinces.