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Rising Demand for Diagnostics Services from the Ageing Population and Growing Prevalence of Chronic Diseases to Drive Market Growth
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This study focuses on clinical lab services in Thailand. A detailed analysis is provided on clinical testing services at public hospital labs and private hospital labs. Specialised labs are integrated into the independent reference labs segment. Certain trends with regard to physician office labs (POLs) in retail clinics have been mentioned in the report. The study period is 2014–2025 with a base year of 2018.Thailand, the second-largest economy in Southeast Asia, promotes foreign investment with a new S-curve structure towards an innovative, digital, and research-based economy, leading the country to a new dimension of laboratory, biotechnology, and life science investment in ASEAN. Thailand is considered a top destination for medical tourism in Southeast Asia. The Thai government announced a ten-year strategic plan (2016–2025) which aims to develop and consolidate economic sectors as a hub for wellness and medical services. The country has been aggressively seeking to boost its competitive edge over recent years. To this end, it has introduced a number of new tax and financial incentives, while also approving several mega-projects designed to stimulate research and development (R&D) activities across the country. Inevitably, this has spurred local demand for clinical laboratory upgrades.Industry-specific information obtained for this study includes:• Revenue breakdowns by customer segments such as hospital-based labs and independent labs• Company revenues, market share estimates, and projected growth rates of various competitors• Top-level understanding of market drivers, restraints, lab counts, and test volume by specialtyThe government has set up national accreditation bodies such as the Thailand Laboratory Accreditation programme to encourage lab accreditation and to regain consumer confidence. Thailand’s reforms prioritize strengthening a district health system with a strong pro-rural and pro-poor focus. One of the initiatives is to encourage private players to invest in rural areas by offering tax exemptions. In Thailand, 73% of deaths are caused by NCDs, yet disease prevention is possible by running routine healthcare tests. Thus, the adoption of routine healthcare tests is also increasing. More non-core tests will be outsourced to reduce lab overheads and to meet surplus demand.Thailand’s Universal Coverage Scheme (UCS) was expanded in 2008 to provide more extensive coverage. The percentage of people covered increased from 92.5% in 2002 to 99.8% in 2015. The UCS plan targets minority groups and the poor and near-poor population, providing the highest possible coverage. Besides basic hospital fees, it covers comprehensive outpatient and inpatient health services including prevention and health promotion.
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