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2 May 2008

International Economy

Thai Medical Service Opportunities in China(Business Brief No.2149)

Medical servicein China is tending to show satisfactory growth, thanks to higher disposable incomes among the Chinese, growing numbers of expatriates and older people who all want better healthcare and medical services at international standards. At present, Thai medical services are among the top ranked in Asia. It would therefore be a good opportunity for Thai private hospitals to enter Chinese market to serve middle- to-high end Chinese consumers and expatriates there. However, Thai medical service entrepreneurs should not overlook the several negative factors when marketing in roads into China, such as a shortage of medical personnel who is well-verse in foreign language, intense competition in the market and the different characteristics of regional markets in China.
KResearch views that aside from expanding Thai medical services overseas, Thai private hospital entrepreneurs should also try to attract more foreign patients to Thailand to help generate more income for the country and support governments' policy of promoting the Kingdom to become a medical service center for Asia by 2008. The government is targeting an increase in national income from this sector to THB 210 billion in 2008. To help meet this target, Thai private hospital entrepreneurs should try to promote Thai medical services to target international markets, including China.
To attract more Chinese patients to Thailand, Thai entrepreneurs should focus on marketing strategies that meet the needs of consumers there, but the format to do so will depend on the readiness and business strategies of each entrepreneurs.

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International Economy