Diagnostic Imaging Devices - Thailand

The Diagnostic Imaging Devices market market in Thailand is forecasted to achieve a revenue of US$245.70m in 2024.
A steady growth rate of 5.09% per year (CAGR 2024-2029) is expected, leading to a market volume of US$314.80m by 2029.
It is worth noting that the United States will generate the highest revenue globally, reaching US$11.93bn in 2024.
Thailand's Diagnostic Imaging Devices market is experiencing a surge in demand due to the country's growing healthcare infrastructure and increasing focus on early disease detection.

Definition:
The market covers diagnostic imaging devices such as X-ray systems, ultrasound systems, computed tomography scanners, Magnetic resonance imaging (MRT) systems, and related components.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Siemens Healthineers, General Electric, Philips, Fujifilm Holdings. Further information on the key players can be found in the Market Shares boxes.

X-ray systems
Computed tomography (CT) scanners
Magnetic resonance imaging (MRT) systems
Positron emission tomography (PET) scanners

Non-imaging diagnostics
In vitro diagnostics (IVD)

The Diagnostic Imaging Devices market in Thailand is experiencing significant growth and development.

Customer preferences: Customers in Thailand are increasingly demanding advanced diagnostic imaging devices that provide accurate and detailed results. They are looking for devices that offer superior image quality, faster scanning times, and increased patient comfort. Additionally, customers are placing a greater emphasis on cost-effectiveness and value for money when making purchasing decisions.

Trends in the market: One of the key trends in the Diagnostic Imaging Devices market in Thailand is the increasing adoption of digital imaging technology. Digital imaging devices offer several advantages over traditional film-based systems, including faster image acquisition, easier storage and retrieval of images, and the ability to enhance and manipulate images for better diagnosis. This trend is driven by the growing need for efficient and accurate diagnostic imaging, as well as the desire to reduce costs associated with film processing and storage. Another trend in the market is the rising demand for portable and handheld diagnostic imaging devices. These devices are compact, lightweight, and easy to use, making them ideal for point-of-care settings and remote areas where access to traditional imaging equipment may be limited. The portability of these devices allows for greater flexibility and convenience in providing diagnostic imaging services, leading to improved patient care and outcomes.

Local special circumstances: Thailand has a rapidly aging population, which is driving the demand for diagnostic imaging devices. As the population ages, the incidence of chronic diseases and age-related conditions such as cardiovascular diseases, cancer, and musculoskeletal disorders increases. Diagnostic imaging plays a crucial role in the early detection, diagnosis, and monitoring of these conditions, leading to better patient outcomes. The growing awareness of the importance of preventive healthcare and early diagnosis is also contributing to the demand for diagnostic imaging devices in Thailand.

Underlying macroeconomic factors: Thailand's healthcare sector is experiencing significant growth, driven by increasing healthcare expenditure, government initiatives to improve healthcare infrastructure, and a growing middle-class population with higher disposable incomes. The government has been investing in the expansion and modernization of healthcare facilities, including hospitals and diagnostic centers, which has created a favorable environment for the growth of the diagnostic imaging devices market. Additionally, the increasing prevalence of lifestyle-related diseases and the growing medical tourism industry are also contributing to the demand for diagnostic imaging devices in Thailand. In conclusion, the Diagnostic Imaging Devices market in Thailand is witnessing growth and development driven by customer preferences for advanced and cost-effective devices, the adoption of digital imaging technology, and the demand for portable and handheld devices. The local special circumstances of an aging population and the emphasis on preventive healthcare and early diagnosis further contribute to the market growth. The underlying macroeconomic factors, including increasing healthcare expenditure and government initiatives, are also fueling the growth of the market in Thailand.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.