During the worldwide covid-19 pandemic, Thailand was ranked 5th in the Global Health Security Index (GHS) 2021 by Johns Hopkins University, USA. Thus, the Thai government aims to push the medical industry to become an international Medical Hub. Krungthai Compass analyzes that achieving this goal requires three factors:
1. Investment in biopharmaceutical industry to elevate from being a generic drug manufacturer to an important production base in the biopharmaceutical industry.
2. Upgrading the manufacturing industry for medical devices and equipment with the BCG Model.
3. Highlighting the excellent medical services to move toward becoming a World Class Medical Service Hub which will help generate enormous revenue while reducing the need to import drugs and medical equipment.
It is also expected that the growth of these three dimensions will generate over 800 billion baht of revenue by the year 2027.*
*Source: Krungthai Compass
