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Thailand Bets on Medical Tourism to Revive Economy

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Bumrungrad International Hospital | File photo courtesy of Wikipedia


Thailand is diving into medical and wellness tourism to tackle slow economic growth amid global uncertainties. With a focus on medical tourism, manufacturing, and eldercare, the nation aims to boost its economy, according to Messe Düsseldorf Asia, a global trade organiser.

 

These sectors are set to expand the domestic market by 5.5 to 7% annually, while exports are expected to rise by 6.5 to 7.5% each year. See Lay Eng, from Messe Düsseldorf Asia, emphasises Thailand's strategic position in Southeast Asia for medical innovations, benefiting from government support and international cooperation.

 

ASEAN is emerging as a hotspot for medical and wellness tourism, with Thailand, Malaysia, and Singapore at the forefront. These nations attract visitors by offering affordable, high-quality treatments and holistic care.

 

In 2024, Thailand's medical tourism market was valued at over 15.2 billion Thai Baht, projected to grow by 15% annually, potentially reaching 45.6 billion Thai Baht by 2035.

 

The domestic medical device market is expected to grow by 7% yearly, with exports increasing by 7.5%. Thailand stands as a major exporter in ASEAN, especially in consumables and diagnostic equipment.

 

Messe Düsseldorf Asia is gearing up for the 2025 Medical Fair Thailand, starting 10 September at the Bangkok International Trade & Exhibition Centre. The event will showcase cutting-edge medical technologies and foster business interactions.

 

The National Innovation Agency is boosting medical tech development among local businesses, directing 70% of financial support to startups and 30% to small and medium enterprises, says Krithpaka Boonfueng, the agency's executive director.

 

Despite local advancements, Thailand imports over 2.1 trillion Thai Baht in medical devices annually, notes Termsak Sirikirin from the National Metal and Materials Technology Centre. This dependence stems from limited investment in research and development and support systems.

 

image.png  Adapted by ASEAN Now from The Thaiger 2025-07-23

 

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Better to look to other countries as it's western prices here now 

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another dream

I guess Americans might see life insurance in their own country as useless if they can get cheap healthcare in a third world country.

 

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29 minutes ago, scubascuba3 said:

Better to look to other countries as it's western prices here now 

 

Yes, looking at prices at international hospitals, 15.2 billion baht doesn't seem that much, but a big chunk probably paid for hotel-like facilities and the large number of staff...

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1 hour ago, webfact said:

the nation aims to boost its economy,

 

Well, atleast the hospitals economy will be boosted, with tripple the money wich they charge the foreigners ..

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People in Thailand should seriously consider India, 2 hours away, far cheaper, packages available, I would investigate for sure if I needed something serious

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Health care in Thailand is becoming increasingly expensive for foreigners.

 

For most expats, apart from Americans, health care "back home" (apart from dentists) may be cheaper than in Thailand, especially for the elderly, retirees or those receiving government social security/welfare benefits.

 

For example, as a retiree in Australia, the maximum I would pay for filling a medical prescription would be about Baht 160.

4 hours ago, webfact said:

image.jpeg

Bumrungrad International Hospital | File photo courtesy of Wikipedia


Thailand is diving into medical and wellness tourism to tackle slow economic growth amid global uncertainties. With a focus on medical tourism, manufacturing, and eldercare, the nation aims to boost its economy, according to Messe Düsseldorf Asia, a global trade organiser.

 

These sectors are set to expand the domestic market by 5.5 to 7% annually, while exports are expected to rise by 6.5 to 7.5% each year. See Lay Eng, from Messe Düsseldorf Asia, emphasises Thailand's strategic position in Southeast Asia for medical innovations, benefiting from government support and international cooperation.

 

ASEAN is emerging as a hotspot for medical and wellness tourism, with Thailand, Malaysia, and Singapore at the forefront. These nations attract visitors by offering affordable, high-quality treatments and holistic care.

 

In 2024, Thailand's medical tourism market was valued at over 15.2 billion Thai Baht, projected to grow by 15% annually, potentially reaching 45.6 billion Thai Baht by 2035.

 

The domestic medical device market is expected to grow by 7% yearly, with exports increasing by 7.5%. Thailand stands as a major exporter in ASEAN, especially in consumables and diagnostic equipment.

 

Messe Düsseldorf Asia is gearing up for the 2025 Medical Fair Thailand, starting 10 September at the Bangkok International Trade & Exhibition Centre. The event will showcase cutting-edge medical technologies and foster business interactions.

 

The National Innovation Agency is boosting medical tech development among local businesses, directing 70% of financial support to startups and 30% to small and medium enterprises, says Krithpaka Boonfueng, the agency's executive director.

 

Despite local advancements, Thailand imports over 2.1 trillion Thai Baht in medical devices annually, notes Termsak Sirikirin from the National Metal and Materials Technology Centre. This dependence stems from limited investment in research and development and support systems.

 

image.png  Adapted by ASEAN Now from The Thaiger 2025-07-23

 

image.gif

 

image.png

 

What are they doing different now that they weren't doing years ago? Thailand has promoted medical tourism since forever

 

Bumrumgrad it's practically as expensive as Western hospitals. It might be fine for those living in MENA, but no alternative for Western Nations population.

 

That's not to say that there isn't some value to be had in other hospitals and clinics around Bangkok

 

I find unforgivable is that expatriates living in Thailand presumably can be taxed on the money they bring in for medical care.

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Thailand really isn't any cheaper than even the United States when you factor in the fact that whether the physician or hospital stands behind the work or not it is virtually impossible to sue for malpractice, botched surgery and certainly to receive just compensation.

 

So, 30% off Western procedures (cost of malpractice insurance) comes to about the same price as top tier medical procedures in Thailand

 

There's a way to do this except the the physicians and hospitals and Thai government don't really want to. Therefore, this is just another ridiculous announcement that has been made numerous times before that will go nowhere

2 hours ago, scubascuba3 said:

People in Thailand should seriously consider India, 2 hours away, far cheaper, packages available, I would investigate for sure if I needed something serious

 

India is a total hassle for visas. The online site looks totally dodgy as well.

 

They also take a massive amount of money on ATM pulls. Like 2.5% + something else. Further, there is a peg to the US dollar which is not anywhere aligned with reality

 

I trust the top hospitals, but the place is a filthy mess.

 

* I've spent probably the better part of two years in the country and probably two and a half on the subcontinent

3 hours ago, Jone500 said:

I guess Americans might see life insurance in their own country as useless if they can get cheap healthcare in a third world country.

 

Thailand is not a third world country 

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Thailand is betting on everything, in the medical tourism race there are many competing, Malaysia, Singapore and Vietnam. Vietnam is one to watch as it is gaining in popularity and as a country they are focused on their goals and well organised.

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What, do they just recycle this article every couple of months?

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A lot depends on where you have treatment done in Thailand --- I just wanted to check on my PSA last week, took some other tests with it---but the PSA blood test at the Udon Thani  hospital....was 240 baht. 

A few years ago I think I posted on here --I had a Stomach bleed lost quite a bit--wasn't in great shape---and with all my medical knowledge  (Zilch) I convinced myself that I must have needed a  stent, because a friend had one ---so went to the  Queen Sirikit heart Hospital in Khon Kean --which is the best heart hospital in Issan , often has the heart surgeons from BKK doing and observing operations there ---anyway they picked it up immediately and put me in hospital for 4 nights + 3 or 4 bags of  blood -- everything just under 15 K baht.

 

I know some BKK hospitals are quite reasonable-- go to Sheryl to find out where.

 

 

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42 minutes ago, hanbla said:

Thailand is not a third world country 

 

Where we live it is, looks like a shanty town with broken roads lots of soi dogs and wild monkeys

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9 hours ago, webfact said:

Thailand is diving into medical and wellness tourism

Again ????

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Thailand has made goods, services, and tourism 11% + more expensive in the past year via the "strong Baht"
Plus, waiting for the August 1st "deal" with the USA, which makes exports very difficult and exchange rates a problem.
The solution to many, many of Thailand's problems is a Baht that is at least USD / THB 36.00.

THB 11 Percent More Expensive.jpg

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Good luck.  It has become expensive and the knowledge and quality of care are suspect at best.

Clutching at straws now

In your own country often cheaper and in your own language.

 

I read this story three years ago. What happened ?

Thailand Bets......

 

Good job this is only an expression.......they would have lost the shirts of their backs by now.

5 hours ago, JimHuaHin said:

Health care in Thailand is becoming increasingly expensive for foreigners.

 

For most expats, apart from Americans, health care "back home" (apart from dentists) may be cheaper than in Thailand, especially for the elderly, retirees or those receiving government social security/welfare benefits.

 

For example, as a retiree in Australia, the maximum I would pay for filling a medical prescription would be about Baht 160.

Yes, I cannot be a full time * expat*due to the fact of the extreme costs at private hospitals and that insurance companies will not insure against any pre existing illnesses. I have first class free health insurance in France and I’m not giving that up .

My uncle who is very well off has abandoned the care homes offers in Thailand for the same reason , health costs if….. and also the new tax system which would involve declaring an expensive care home , visas  etc etc.

He says he knows what he would pay at home, but not in Thailand.

8 hours ago, scubascuba3 said:

People in Thailand should seriously consider India, 2 hours away, far cheaper, packages available, I would investigate for sure if I needed something serious

You can also buy some expensive medications online from India that are manufactured in India and exported to Thailand and the West - at far less prices than here in Thailand.  Best to either go there and bring them back with a letter, or get a Thai GF/Wife to buy them online and get them sent to her address. 

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