Medical Industry by MDA Consulting S.E.A.

October 2009

Thailand

is one of the world’s centers for medical

Private hospitals consistently record healthy growth, which

services, with over 1,000 public hospitals and 400 private

then leads to increased demand for imported drugs.

hospitals operating at international standards, offering the

Moreover, additional imported drugs were placed on the

perfect climate for investment in healthcare, medical

National

devices and pharmacy. It has world-class technology

chemicals

infrastructure, and offers the most advanced treatments by

pharmaceutical manufacturing, Thailand imported US$1

overseas-trained doctors and a multilingual staff to ensure

billion in pharmaceutical products in 2008 – an increase of

that there are no communication barriers. Doctors are

18% over the previous year. The major sources of these

experts in their felds and nurses are registered and well

imports

trained.

Switzerland and the United Kingdom. These countries

List

Essential

Medicines.

With

robust

industry and great biodiversity to support

were

France,

the

United

States,

Germany,

accounted for more than 45% of the total pharmaceutical Recognizing the available market and the ability to deliver

products imported into Thailand.

medical treatment at a fraction of the cost as most countries, in 2004 Thailand’s government adopted a 5-year

In 2008, the export value of medication was US$164

strategic plan to develop the country’s capacity into the

million – a rise of 9% over the previous year. Thailand’s

“Center of Excellent Health of Asia”. This plan, advanced by

primary

the Ministry of Public Health, focuses on three main areas

Cambodia, Malaysia, Hong Kong, and the Philippines, which

services,

together

including spas & traditional massage, and Thai herbal

exports.

healthcare:

medical

services,

healthcare

export

destinations

accounted

for

70%

are of

Vietnam, total

Myanmar,

pharmaceutical

products. Thailand has taken on groundbreaking research. For In the course of those fve years, opportunities have grown

example, researchers are experimenting with rice starch

exponentially as Thailand has in fact become a medical hub

that is extracted from broken rice by pulling out proteins to

in Asia, with state-of-the-art facilities. Today, nearly 2

get pure carbohydrate four, which can be used as fller in

million foreign patients visit Thailand each year for a range

drug tablets helping them hold their shape and release

of healthcare services, including cutting edge procedures

drugs more effectively. Demand is high as the cost is

like stem cell treatment. And, the domestic drugs and

roughly 20% of other fller materials. Thailand is also

medical market has grown to over US$1 billion. As the

investing in research and development for tropical diseases

health care infrastructure expands and investment in high-

such as dengue fever and malaria, among others, and

technology equipment soars, the medical device sector and

invites

pharmaceutical sector are also experiencing signifcant

example, BIOTECH-Novartis International Pharmaceutical

investment

investments

into

biotechnology

research.

For

excellent

medical

Drug Discovery Partnership (A 3-year partnership) was

service

beftting

initiated in 2005 with the goal of identifying potential uses

Thailand’s reputation for care with wait-times kept to a

of micro-organisms and natural compounds as sources for

minimum. Some of the leading hospitals catering to foreign

innovative medicine. The research partnership has recently

medical-tourists assign patients a personal assistant who

been extended for another 3 years to May 2011. Safety

will walk them through the entire process from the front

and

services,

potential. patients

Beyond

receive

the

personal

quality

are

the

guiding

principles,

local

door, to their appointment with the doctor, to the onsite

pharmaceutical

manufacturers

pharmacy to fll prescriptions, and to clearing all receipts

International Pharmaceutical Inspection Convention and

for insurance reimbursement. Patients are kept informed of

Pharmaceutical Inspection Cooperation Scheme (PIC/S) by

wait times and of what to expect throughout their stay.

2008.

One notable hospital boasts a staff of doctors that can

pharmaceut ical indust ry growth make Thai land an

speak a dozen major languages in addition to their 60

extraordinary investment location.

International

must

standards

comply

coupled

with

the

fervent

staffed interpreters. Other hospitals possess interpreters in over 2 dozen languages. Great efforts have been made to

Opportunities for investment in the medical food sector

accommodate

international

also continue to grow with generous support from a new

international

investment policy from the government, rich agricultural

corporations and embassy staff can attest to the excellent

resources, investments in international quality standards

healthcare treatment in Thailand and to its competitive

and technology. As a result, it offers an excellent location

rates. For example, elective surgeries in Thailand’s best

for cost-effective manufacturing of medical food. Major

private hospitals are often one-tenth the cost of the same

suppliers of medical food in Thailand include, among

surgeries in some western countries. Popular treatments

others: Mead Johnson Nutrition, Abbott and Novartis. In

among foreign patients include general checkups, dental

fact, Thailand’s strategic position enables Mead Johnson’s

care,

kidney

Chonburi manufacturing and R&D center – its largest

transplants and heart surgeries.Thailand’s status as a

outside of the US – to serve as a hub for its Asia Pacific

destination for medical outsourcing is being driven by the

operations. The company serves domestic and global

quality, cost, and care that it offers. In addition, increasing

markets demands.

patients.

the

increasing

Expatriates,

hip

replacement,

number

executives

laser

of of

eye

surgery,

costs and decreasing coverage of foreign health care systems provide added impetus for growth in Thailand’s

The

medical services. For example, insured Americans are

attractive tax incentive to investors in the medical sector

being given the option of having surgeries performed

that include exemption from import duties on machinery

overseas, which adds to Thailand’s potential as the premier

throughout the period of promotion in all zones. In this

medical service destination. At the same time, the legions

regard, there are two categories of investment that include

of uninsured or those just seeking the best service and

Priority for Medical Supplies, which receive an 8-year

care available will continue to drive growth in Thailand’s

exemption regardless of investment zone, and the Active

medical industry. The sector’s annual growth rate has

Ingredient category, which receive incentives, but is zone-

hovered around 14%, with major surgical procedures and

based. Further, the manufacture of medicine and/or active

standard medical care soaring.Thailand’s private hospitals

ingredients in medicine that achieves GMP standards

employ leading technology and international standards.

prescribed by PIC/S within 2 years of the date the project

Many

commences

have

the

most

advanced

medical

equipment,

Board

Investment

operations

Thailand

receives

(BOI)

grants

exemption

from

including the 1st MRI (3 Tesla) in Asia–which offers better

corporate income tax for a period of 8 years for projects in

diagnosis without injection of contrast media. Moreover,

Zone 3; 7 years for projects located in an industrial estate

speedy mobile services like helicopters and other aircraft

or a promoted industrial zone in Zone 2; 6 years for

are available and patients’ records can be obtained in an

projects in Zone 2; and 5 years for projects in Zone 1.

instant

via

established

the

internet.Many

partnerships

with

private

hospitals

1st-class

have

international

Apart from attractive tax incentives, the BOI also provides

medical schools and health care institutions both in Europe

non-tax incentives such as land ownership rights for

and in the United States. Additionally, they have been

foreign investors, permission to bring in foreign experts

recognized and approved to the standards of the Hospital

and technicians, and work permit and visa facilitation for

Accreditation (HACC) of Thailand such as ISO 9002, ISO

expatriate employees.

900:2000, ISO14001, ISO 18000 and Joint Commission International Accreditation. While Thailand excels in the

medical care it delivers on a daily basis to patients from

Investment Year 2008-2009 package, the following eligible

over 190 countries, the kingdom is also gaining recognition

activities:

addition,

the

BOI

has

announced

with

Thailand

as a location for research and clinical trials of advanced

• Medical food – new BOI category

medicine and for stem cell treatments. In 2008, the

• Manufacture of medical supplies or medical equipment

transplant of bone marrow blood stem cells for leukemia

• Manufacture of scientifc equipment

patients became authorized for use in Thailand. If investors apply for promotion within the TIY, extra As Thailand continues its ascent as the medical hub of the

privileges

region, considerable opportunities in related fields are

reduction of corporate income tax for 5 years; a double

being created. For example, the medical device sector will

deduction of transportation, electricity and water supply

applied

projects

would

include

50%

continue to see healthy growth to meet the demands of

costs for 10 years; and a 25% deduction from net proft for

healthcare

facility installation and construction costs in addition to

facilities

for

new

and

upgraded

medical

machinery and devices. In 2008, within the medical device

normal capital depreciation.

sector, oscilloscopes & spectrum analyzers enjoyed a 32% growth over the previous year. During the same period,

This Thailand Investment Year package will be granted to

diagnostic and laboratory reagents increased 20%, and

all qualified projects located anywhere but Bangkok, with a

apparatus based on the use of X-rays, alpha, beta or

condition that the applications must be submitted within

gamma radiation rose 17%.

December 2009.

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