Strategy 2 for preparing to enter the medical device industry market is to expand the results through innovation mechanisms, in keeping with the government's needs, and promoting the government market through the Thai Innovation List. This will be a key mechanism to drive BCG for medical devices, which is significant in the following ways:

       The goal of innovation is to create new and improved treatments, encourage Thai innovation in order to reduce costs, including product costs and spending by the government and the public. An example of reducing costs is producing equivalent products to reduce imports from abroad and then being able to sell them to the government and private organizations at lower prices, which helps the government market to have confidence in procurement-on-demand, which in turn leads to greater access to treatment for people. Therefore, it is necessary to prepare before entering the market by promoting the expansion until medical device innovations can create confidence among doctors and consumers, along with various supporting measures, such as the following:

• Sandbox standard fund and Thai medical device innovation list;
• A central agency to integrate the examination of medical technology and innovation standards.

       It is expected that this action will create a quality infrastructure that responds to the needs of the medical device industry, which will even be able to produce and export to the European Union, the United States, China, and Japan, and will be able to become a medical device production base in ASEAN to support the production of expensive medical device components in ASEAN from leading foreign medical device manufacturers. It will also encourage foreign businesses to invest in factories producing and assembling medical devices in Thailand, thus creating employment at various levels.

Source: National Science and Technology Development Agency (NSTDA)
Tel:+66 (0) 2-564-7000