Healthcare Sector in Thailand: Your Next Biggest Investment Opportunity!

You may know already Thailand is the 2^nd largest healthcare market in the Southeast Asia, making up around 20% of its expenditure. And in the next few years, the market is likely to witness a CAGR of 8.7% and grow enormously. In fact, Thailand is one of the biggest medical tourism markets that estimated 194% increase in the revenue between 2007 and 2013. The major drivers of growth include private participation, increased income levels, government funding, and an aging population.

Opportunities in Thailand’s Healthcare Sector

Public Sector

1. Represents 80% of the total expenditure on healthcare.
2. Metropolitan Administration of Bangkok manages 9 hospitals and further plan to build more to serve the future demand in the city.

Private Sector

1. Represents 20% of the total expenditure on healthcare.
2. Services are financed to out of private health insurance.
3. There are 332 private hospitals, out of which 44% are situated in Bangkok and 28% in the surrounding provinces.

Consumer Sector

1. Majorly focused on pharmaceuticals
2. The drug market accounts for 80% of the total sales.

These hospitals are continuously working to expand international reach through the Memorandum of Understanding with many foreign health companies or online platforms.

And to accommodate these hospitals or clinics with medical equipment, two major channels have been active, including government procurement or selling to the hospitals directly. Simultaneously, agents/distributors or subsidiaries have been at work. So you can be a part of both while contributing to the healthcare of the country.

Opening a Business in Thailand in the Healthcare Industry

Just so you know, whether you wish to invest in hospitals or work as distributors you must obtain a license from the FDA provided you are dealing with pharmaceuticals or medical equipments.

To start a business in Thailand in the healthcare industry, you must ensure that you have these documents with you;

2. “Name of the designated company (please provide 3 names);
3. Registered address (in Thailand) for your company (please provide a copy of the house registration);
4. Company’s objective (please provide full detail of your business functions);
5. Shareholders Information:
   1. Copy of passport of your 3 promoters/shareholder;
   2. Share allocation of each shareholder;
6. Directorship Information:
   1. Name of the Authorized Director(s);
   2. Copy of passport for each Director;
   3. Signatory condition of the director(s)
7. The number of foreigners (non-Thai) that you expected to have been working for this juristic entity.”