“โรงพยาบาลเอกชน ” แข่งขันรุนแรง-ตลาดชะลอตัว | BUSINESS WATCH | 11-04-68

Summary

The script discusses the current state and future prospects of Thailand's private hospital industry. While historically a low-risk and growing sector, recent trends show slower growth, with challenges like a saturated local market, rising medical costs, and changing consumer behaviors towards healthcare. The script highlights three key strategies for growth: expanding into international markets, focusing on specialized healthcare services, and extending reach into regional areas. It also mentions trends like wellness, medical technology, and sustainability that could shape the industry's future, alongside the increasing competition as more hospitals expand.

Takeaways

• 😀 The hospital industry in Thailand has shown steady growth over the past decades but is now facing slower growth compared to previous years.
• 😀 The private hospital sector's growth has slowed down, with revenue shrinking by 0.6% in 2023 and only a 4% growth forecast for 2024.
• 😀 Hospitals' operational costs are increasing, with outpatient service costs rising by 5-6% annually, but the demand for medical services is starting to plateau due to changing demographics.
• 😀 The aging population and changes in consumer behavior are causing people to focus more on preventive healthcare rather than seeking treatment for illness.
• 😀 The private hospital sector still has potential for growth through three strategies: expanding the international patient market, offering specialized healthcare services, and expanding regional services.
• 😀 The international patient market is growing at about 6% annually, with Thailand's healthcare services considered affordable and of high quality compared to many other countries.
• 😀 Expanding specialized healthcare services, such as cardiology, dialysis, and orthopedics, as well as aesthetic treatments, is a promising growth area.
• 😀 Preventive healthcare and holistic health services are becoming more popular, with many consumers focusing on long-term health management to avoid illness.
• 😀 Expanding hospital services into regional markets, especially in provinces with high potential like Phuket, Rayong, and Chiang Mai, is an effective strategy to counter the saturation in Bangkok and the surrounding areas.
• 😀 Private hospitals need to adapt to the introduction of 'payment' insurance policies, where patients have to contribute to medical costs, which could impact their revenue, especially for hospitals heavily dependent on insurance patients.

Q & A

What has been the historical growth trend of the private hospital business in Thailand?

The private hospital business in Thailand has historically experienced steady growth, with an average annual revenue increase of 11.6% from 2012 to 2022.

What factors have contributed to the slowdown in the growth of private hospitals in Thailand in the past few years?

The slowdown in growth is attributed to demographic changes, such as a shrinking population, rising healthcare costs, and a shift in consumer behavior towards preventative care.

How did the private hospital business in Thailand perform in 2023 and what is expected for 2024?

In 2023, the private hospital business contracted by 0.6%, and growth for 2024 is expected to be modest at 4%.

What is the impact of Thailand's aging population on the private hospital industry?

Thailand's aging population has led to a shift in healthcare demand, with an increasing need for specialized treatments and preventative care rather than general hospital visits.

What are the three main strategies private hospitals in Thailand are considering to boost growth?

The three strategies include expanding services to international patients, offering specialized healthcare services, and increasing hospital presence in regional markets.

How has the demand for healthcare services shifted in Thailand in recent years?

The demand has shifted towards preventative care, with more individuals opting for lifestyle changes to avoid hospital visits, reducing the frequency of traditional healthcare services.

Why is targeting international patients considered a viable growth strategy for Thai hospitals?

International patients, particularly from neighboring countries, are a growing source of revenue for Thai hospitals. The country's medical services are of high quality and relatively affordable, making it an attractive destination for medical tourism.

What role do specialized healthcare services play in the future growth of Thai hospitals?

Specialized healthcare services, such as treatments for heart disease, kidney dialysis, and cosmetic surgery, are expected to meet the needs of niche markets and provide a significant growth opportunity for private hospitals.

What is the wellness trend, and why is it important for the hospital business in Thailand?

The wellness trend focuses on preventive care and holistic health, where consumers are increasingly seeking services to maintain well-being rather than only seeking treatment after illness. This trend is growing at a rate of 14% annually and presents a significant opportunity for hospitals.

What is the expected growth of the healthcare market in regional Thailand, and why is it an opportunity for hospitals?

The healthcare market in regional areas is growing, with cities like Phuket, Chiang Mai, and Rayong seeing substantial revenue growth. Hospitals can capitalize on this by expanding their services in these areas, where the population and medical tourism are increasing.

What future trends are shaping the private hospital industry in Thailand?

Future trends include an emphasis on wellness and preventive care, the integration of advanced medical technology, and a focus on environmental sustainability (ESG) practices to remain competitive and meet consumer demands.