Thailand Artificial Intelligence (AI) in Diagnostics Market Analysis
Thailand's Artificial Intelligence (AI) in the diagnostics market is projected to grow from $xx Bn in 2022 to $xx Bn by 2030, registering a CAGR of xx% during the forecast period of 2022-30. The market will be driven by a rise in chronic illnesses and increasing investment by the government. The market is segmented by component & by diagnosis. Some of the major players include IBM Watson Health, Siemens Healthineers & Philips Healthcare.
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Thailand Artificial Intelligence (AI) in Diagnostics Market Executive Summary
Thailand's Artificial Intelligence (AI) in the diagnostics market is projected to grow from $xx Bn in 2022 to $xx Bn by 2030, registering a CAGR of xx% during the forecast period of 2022 - 2030. Thailand has high-quality healthcare, and treatment can be both better and less expensive than in certain Western nations. The bulk of medical facilities is concentrated in metropolitan cities, particularly Bangkok. According to the WHO statistics published in 2020, the number of Coronary Heart Disease fatalities in Thailand reached 51,305, accounting for 11.53% of all fatalities.
AI would allow healthcare providers to evaluate huge volumes of data, such as medical imaging, test results, and patient history, to make more educated and accurate diagnoses. It might be used to detect cancer, triage critical medical imaging findings, flag acute anomalies, help radiologists prioritise life-threatening patients, diagnose cardiac arrhythmias, predict stroke outcomes, and aid in chronic disease management.
Chulalongkorn University and Siriraj Hospital have created an AI-powered diagnostics tool that can aid radiologists spot lung cancer early. Deep learning algorithms are used to analyse CT images and detect early symptoms of lung cancer. Ramathibodi Hospital has collaborated with VUNO, a Korean AI firm, to create an AI-powered diagnostic tool to help radiologists detect cerebral haemorrhages. Bumrungrad International Hospital has collaborated with Microsoft to create an AI-powered diagnostic tool to help clinicians spot cervical cancer early.
Market Dynamics
Market Growth Drivers
The Ministry of Digital Economy and Society (MDES) has undertaken a number of programmes to help Thailand develop AI technology, particularly those used in healthcare. Thailand, like many other nations in the area, is witnessing an ageing population and a rise in chronic illnesses. This has resulted in an increase in demand for healthcare services, as well as the use of AI diagnostics to enhance patient outcomes. Thailand has a thriving startup environment, notably in the healthcare industry, which offers prospects for the development of novel AI diagnostic solutions. Some firms are working on AI-powered diagnostic tools to help healthcare practitioners make diagnoses.
Market Restraints
Thailand's regulatory framework for AI diagnostics is still in its early stages, which might cause uncertainty for businesses and health professionals. Data privacy and security concerns might make it difficult for organisations to acquire and use patient data for the development of AI diagnostic tools. The use of AI in diagnostics demands a staff that is skilled and prepared to use these technologies. This can be difficult in a nation like Thailand, where experienced personnel in the healthcare field may be in scarce.
Competitive Landscape
Key Players
- IBM Watson Health
- Siemens Healthineers
- Philips Healthcare
- GE Healthcare
- Google Health
- AliveCor, Inc.
- Riverain Technologies
- Niramai
Notable Deals
February 2023, GE HealthCare to Acquire Caption Health The acquisition adds AI-enabled image guiding to the ultrasound device portfolios of GE HealthCare's $3 billion Ultrasound division
Healthcare Policies and Regulatory Landscape
The Thai Food and Drug Administration (Thai FDA) regulates medicines, biologics, and medical devices in Thailand, which is overseen by the Ministry of Public Health (MOPH). The Thai FDA's Medical Device Control Division is the primary regulatory authority in charge of medical device pre- and post-marketing in the Country. The risk classification system outlined in the ASEAN Medical Device Directive (AMDD) went into effect on February 15, 2021, resulting in substantial modifications to Thailand's classification scheme and registration for medical devices. The Medical Device Act divides medical devices into three categories based on the amount of danger they pose to individuals and the wider public.
Reimbursement Scenario
The Social Security System (SSS) is overseen by the Social Security Office and funded by a three-way split of government, employer, and employee payments. It applies to employees as well as employers that have one or more employees.
The Social Security Office administers The Civil Servant Medical Benefit Scheme (CSMBS), which offers health care benefits to government personnel and their relatives (spouse, parents, and up to three children).
The MOPH administers the Universal Health Coverage Plan (UCS), which covers the remaining population not covered by the SSS or the CSMBS.
1. Report Description of the Thailand Artificial Intelligence (AI) in Diagnostics Market Segmentation
1.1 Research Scope and Assumption
1.2 Objective of the study
1.3 Research Methodology
1.4 Reason to buy the report
2. Thailand Artificial Intelligence (AI) in Diagnostics Market Segmentation Executive Summary
2.1 Thailand Artificial Intelligence (AI) in Diagnostics Market Segmentation –Industry Snapshot & key buying criteria, 2021-2030
2.2 Market Size, Growth Prospects, and Key findings
3. Market Dynamics of Thailand Artificial Intelligence (AI) in Diagnostics Market Segmentation
3.1 Market Growth Drivers Analysis
3.2 Market Restrains Analysis
4. Thailand Artificial Intelligence (AI) in Diagnostics Market Segmentation Segmentation
4.1 By Component Outlook
4.1.1 Software
4.1.2 Hardware
4.1.3 Services
4.2 By Diagnosis Outlook
4.2.1 Cardiology
4.2.2 Oncology
4.2.3 Pathology
4.2.4 Radiology
4.2.5 Chest and Lung
4.2.6 Neurology
4.2.7 Others
5. Thailand Artificial Intelligence (AI) in Diagnostics Market Segmentation Share
5.1 Market Analysis, Insights, and Forecast – By Revenue
6. Competitive Landscape
6.1 Major Top Market Players
7. Key Company Profiles
7.1 Company 1
7.1.1 Overview
7.1.2 Financial Performance
7.1.3 Product & Services
7.1.4 Strategic initiatives
7.2 Company 2
7.2.1 Overview
7.2.2 Financial Performance
7.2.3 Product & Services
7.2.4 Strategic initiatives
7.3 Company 3
7.3.1 Overview
7.3.2 Financial Performance
7.3.3 Product & Services
7.3.4 Strategic initiatives
7.4 Company 4
7.4.1 Overview
7.4.2 Financial Performance
7.4.3 Product & Services
7.4.4 Strategic initiatives
7.5 Company 5
7.5.1 Overview
7.5.2 Financial Performance
7.5.3 Product & Services
7.5.4 Strategic initiatives
8. Healthcare Policies and Regulatory Landscape
8.1 Healthcare Policies in Thailand
8.2 Regulatory Framework in Thailand
8.3 Pricing & Reimbursement Scenario in Thailand Artificial Intelligence (AI) in Diagnostics Market Segmentation
9. Factors Driving Future Growth
9.1 New Trends and Development Thailand Artificial Intelligence (AI) in Diagnostics Market Segmentation
9.2 Future Opportunities
10. Strategic Recommendations
Artificial Intelligence (AI) in Diagnostics Market Segmentation
- By Component Outlook Type (Revenue, USD Billion):
- Software
- Hardware
- Services
- By Diagnosis Outlook Type (Revenue, USD Billion):
- Cardiology
- Oncology
- Pathology
- Radiology
- Chest and Lung
- Neurology
- Others
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- Market Overview
- Market Growth Drivers & Restraints
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- Market Share
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- Healthcare Policies & Regulatory Framework
- Reimbursement Scenario
- Factors Driving Future Growth
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