With technology for medical devices continuing to evolve in line with rising demand, Thailand remains focused on promoting technology and innovation in its medical device industry, leveraging the country’s global strengths as a top medical destination with a well-established and thriving industrial supply chain.
The database of Global Trade Atlas showed that the international trade of medical devices has continued to grow during the COVID-19 pandemic, with the trade volume standing at approximately US$830 billion in 2020. Interestingly, the value of global exports outstripped imports at approximately US$530 billion versus US$300 billion, respectively. Durable medical devices accounted for the majority of the global exports at approximately 75%, followed by single-use products and reagents (approximately 20%) and test kits (approximately 5%).
With a globally competitive manufacturing sector and efficient business environment, Thailand has attracted multinational companies from all over the world to invest in the manufacture of medical devices in the Kingdom. The Thai government’s continued support for increasing the use of locally produced medical devices has also contributed to the development of many homegrown local manufacturers.
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