Guide

Thailand: Business Opportunities in Digital Health

Thailand boasts the second-largest economy in South East Asia, which is expected to advance at a moderate pace in a post-Covid-19 context. With a relatively well-developed infrastructure, a free-enterprise economy, and generally pro-investment policies, the country is highly dependent on international trade.

Man sitting in front of a computer

The country´s population stands at close to 70 million. Importantly, Thailand’s share of people aged 65+ is second only to Singapore in the region, with more than 10 million people being senior citizens. Thailand also continues to rank among the fastest ageing populations in the region: by 2030, around 20% of its population is projected to consist of seniors, up from 11.4% in 2019. 

Thailand is also an increasingly popular retirement option for foreigners attracted by its agreeable climate, low cost of living, affordable healthcare, and strong service culture. The country currently ranks as the third most important medical travel destination globally by value. 

Universal health coverage was achieved in 2002, and today every Thai citizen is entitled to essential health services at all life stages. Private health insurance is a relatively small but growing market in Thailand.

Where is Thailand in terms of Digital Health?

Thailand also has the second-largest internet economy in South East Asia. The country is also a leader in 5G deployment in the region and has one of the fastest internet speed in the region.

Interestingly, the digital health sector in Thailand is largely driven from the top down by public and private hospitals rather than start-ups and user adoption. The Thai government is also encouraging the development of the sector by formulating several strategies, such as the Thailand 4.0 strategy and the 2017-2026 eHealth Strategy.

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