Thailand on the Fast Track in Healthcare & Medical Tourism

HOSPIMedica THAILAND will be back for the 3rd time in Bangkok, Thailand, from 12 to 14 September 2007 at Queen Sirikit National Convention Center (QSNCC).

The showing is projected to be bigger and better in 2007 because the race is on to get Thailand on the fast track to becoming the "Healthcare Hub of Asia" by 2010. This is the healthcare strategy of the Thai government and major players in the sector. The healthcare market in Thailand has grown in overall value terms by around 14% in 2005.

"HOSPIMedica THAILAND 2007 aims to address the changes in disease patterns and the needs for improved medical care brought on by Thailand's rapid growth in the industrialized productions and service sectors. The need to cater to an aging population and the challenges of changing lifestyles will also be addressed at the exhibition," Gernot Ringling, managing director, Messe Düsseldorf Asia, told Pharma Asia.

In early 2006, the Ministry proposed an investment plan for National Health System Development 2006-2009. Thailand imports more than 80% of the country's medical equipment for the health industry. The main suppliers for these products are the USA, Japan, Germany and the UK.

The medical equipment and supplies market in the Asia-Pacific region is forecast to grow by 30% to a value of approximately US$43 billion by 2010, says show organizer Messe Düsseldorf Asia. Foreign investors are witnessing a healthy pace of socio-economic development particularly in Southeast Asia. The healthcare industry stands to benefit significantly from these investments as well as in the advancement of health care standards.

Medical tourism in Asia is also on the rise. With over 1.3 million healthcare tourists within the Asian region every year, the flourishing medical tourism industry may reach US$4 billion mark by 2012.

Thailand is one of the preferred healthcare destinations in Asia. With already more than 800,000 healthcare tourists in 2006, the Thai government expects to break through the one million mark in 2007.

"Thailand's medical tourism industry is dedicating itself to securing the top position in the market. The steady increase of foreigners visiting Thailand not only sees it as a haven to rest, relax and rejuvenate but also as a prime destination for medical tourism," said Ringling.

"With medical tourism on the rise and seeing that Thailand is a much preferred destination for foreigners seeking health services along with the advancement of healthcare standards, foreign investors can take advantage of the expanding opportunities brought on by the flourishing health-cum-hospitality sector which is forecast to grow by about 30%."

Foreign investors also see tremendous opportunities in Vietnam's health service sector with improved specialist health services and more benefits for foreign investors. Health providers in are stepping up efforts to help develop crucial treatments for cancer and cardiac disease and help patients reduce expenses. More foreign hospitals are waiting in the wings to start construction in Vietnam.

Messe Düsseldorf Asia says the ADB has offered a US$38 million loan and grant package to help Vietnam to strengthen the capacity of the health surveillance system, including its ability to plan and utilize technology. The project will be implemented in six years, from 2006 to 2011.

The exhibition will once again bring together the best in the business of hospital, diagnostic, pharmaceutical, medical and rehabilitation equipment and supplies for the future of healthy collaboration and progress in Thailand and the Indochina region.

Furthermore it will serve as a platform for medical suppliers, industry professionals, government bodies, hospital administrators, doctors, nurses and other healthcare professionals. More than 5,000 trade visitors and buyers from the region are expected to visit the three-day exhibition.