According to an economic forecast by TMBThanachart Analytics, Thai private hospitals are projected to generate over THB 322 billion (USD 8.8 billion) in revenue in 2024, marking a 4% increase from 2023. The private hospital sector in Thailand has expanded by more than 20% over the past three years, with further growth anticipated due to the rising trend of medical tourism.
According to Allied Market Research, Thailand’s medical tourism market is expected to expand from THB 310 billion (USD 8.5 billion) in 2023 to THB 760 billion (USD 20.8 billion) in 2027.
Pitakpol Boonyamalik, CEO of Thonburi Bamrungmuang Hospital, highlighted intense competition among private hospitals, especially in elderly care, which is bolstered by Thailand’s ageing population. The hospital plans to enhance precision healthcare by collaborating with domestic and international medical teams and opening a variety of medical centers in 2024. The hospital’s advantageous location in Yaowarat, coupled with a spacious venue and 500-700 medical staff, enables it to deliver high-quality medical services.
Thonburi Bamrungmuang Hospital has partnered with vascular surgery experts to improve treatments for vascular diseases. The parent company, Thonburi Healthcare Group, announced a THB 2 billion (USD 54 million) investment to expand medical services, including new clinics in the South and cancer excellence centers at Sirivej Hospital in Chanthaburi, Thonburi Trang Hospital, and Ubonrak Thonburi Hospital in Ubon Ratchathani.
Tanatip Suppradit, CEO of Thonburi Healthcare Group, identified four investment trends among Thai private hospitals: supporting foreign patients, catering to the ageing society, opening medical centers for rare and special diseases, and investing in preventive medicine.
Vimut Hospital recently opened four new medical centers addressing conditions prevalent among working-age individuals, such as headaches, gastro-esophageal reflux disease, arrhythmia, and nose and sinus diseases. This expansion aims to meet the demand for complex treatments and enhance patient confidence.
Bangkok Hospital has introduced a robotic surgery center equipped with “da Vinci Xi” machines, which have improved treatment efficiency in over 200 cases. Only seven of these machines are available in Thailand, according to Deputy Director Ekkit Surakarn.
Yongyut Sirivatanauksorn, Director of Siriraj Hospital, stated that the hospital plans to expand its services to support retirees and foreigners, capitalizing on the medical tourism trend. The medical center focuses on in-depth health screening, rehabilitation, preventive care, anti-ageing, and promoting health balance.
(Source: The Nation)
