Thailand’s medical sector attracts x100 times more investment in Q1 2021 than in 2020
Thailand’s medical sector is attracting much Foreign Direct Investment; at over 100 times the level of 2020.
Thailand has attracted an 80% rise in Foreign Direct Investment applications in the first quarter of 2021 totaling US$3.9 billion, according to the Thailand Board of Investment.
The medical sector drew a large share of the investments with a total of 29 projects worth US$0.6 billion. This was in part due to the impact of the coronavirus pandemic causing demand for medical supplies and devices.
Thailand’s economy as a whole is expected to recover with GDP growth rates of 3.3% predicted according to Fitch Solutions (Asia Monthly Report 2021).
The long-term prospects for Thailand’s healthcare sector are solid according to DBS as the sector is driven by an ageing population, increasing demand for health insurance, and the return of international patients. The Thai government’s expenditure is expected to quadruple from US$13.3bn in 2018 to US$51bn in 2030.
Find out more about Thailand’s growing medical device market and how Andaman Medical can help you access it.
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