The Thailand Bioinformatics market is projected to grow from $xx Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022 - 2030. The main factors driving the growth would be technological advancements, growth in the healthcare industry, government support, and private investments. The market is segmented by technology and by application. Some of the major players include Bangkok Genomics Innovation (THA), Agilent Technologies, IBM Life Sciences, Qiagen, and ThermoFisher Scientific.
The Thailand Bioinformatics market is projected to grow from $xx Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022 - 2030. In 2019, national healthcare spending in Thailand as a percentage of GDP reached 3.79% achieving $296 per capita. Thailand is regarded as one of the most competitive locations in the world for receiving high-quality healthcare at a cheap price. The cost of healthcare in Thailand is roughly one-fifth that in the United States and Europe.
Bioinformatics is a field of research that combines biology and information technology. The techniques utilised in bioinformatics include data production, data warehousing, data mining, data management, and others. For applications like next-generation sequencing, modelling of genomic and proteomic structure, and three-dimensional drug discovery, bioinformatics software and tools are employed as integrated solutions to provide statistical approaches and data processing algorithms. The Asia Pacific region's bioinformatics market is growing swiftly as a result of rising demand for personalised medicine and investments from both the public and private sectors.
Market Growth Drivers
The Thailand bioinformatics market is expected to be driven by factors such as technological advancements, growth in healthcare industry and government support. Moreover, the biotechnology and pharmaceutical industries' private investments fuel the Thailand bioinformatics market. Thailand has a large biotechnology and pharmaceutical industry that is primarily reliant on bioinformatics for research and development of novel medications and treatments. These businesses outsource more and more bioinformatics work to firms.
Market Restraints
The field of bioinformatics is a relatively new and complex field and there may be a lack of awareness among researchers and companies in Thailand. Further, the lack of standardization and a limited number of specialised bioinformatics companies in the market also limits the growth of bioinformatics.
Key Players
The government's emphasis on building the nation's healthcare infrastructure and encouraging biotechnology research and development has impacted the healthcare policies and regulatory environment for the bioinformatics sector in Thailand. The National Science and Technology Development Agency (NSTDA) and the Thailand Biotechnology Center (TBC) are two of the government's agencies and programmes that can help the bioinformatics sector flourish.
The Ministry of Public Health establishes rules and recommendations for the use of bioinformatics in the healthcare system. The Food and Drug Administration (FDA) is in charge of regulating the safety and efficacy of medical products, including bioinformatics software and services.
The National Health Security Office (NHSO), which is in charge of overseeing the nation's universal health coverage (UHC) programme, sets the reimbursement policies in Thailand. For medical services, procedures, and prescription medications that are covered by the UHC programme, the NHSO establishes payment rates.
The Ministry of Public Health has created a list of essential medications that is used to determine drug reimbursement. Based on the cost and efficacy of the medications, the NHSO determines the reimbursement rates for those on the list. The kind of healthcare facility and the services offered also affect the reimbursement policies. For instance, patients treated in hospitals may receive higher reimbursement rates for treatments and procedures than those treated in clinics.
1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
By Technology (Revenue, USD Billion):
By Application (Revenue, USD Billion):
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