Thailand and the US are working to drive investment in medical and healthcare businesses in the Eastern Economic Corridor (EEC) in an effort to promote targeted industries and support healthcare services for ageing and young people.
The medical equipment market is expected to grow rapidly, according to the Thai Health Promotion Foundation, as Thailand became an "aged" society in 2022, meaning the number of people aged 60 and older comprise more than 20% of the country's population of 71 million.
"We should draw more investment and support the use of new technology for physical examination and medical treatments to ensure sustainable medical services," said Chula Sukmanop, secretary-general of the EEC Office.
He was speaking at the two-day US-Thailand Healthcare Workshop, co-organised by the American Chamber of Commerce and the US Trade and Development Agency.
The event, which ended on April 4, intended to develop the healthcare industry in Thailand.
The organisers want to facilitate American healthcare companies expanding their investment in the region, especially Thailand, said Robert Godec, US ambassador to Thailand.
The US is the third-largest investor in terms of value in the EEC. The total investment value of American entrepreneurs in all industries is 44 billion baht, said Mr Chula.
"We are preparing to offer investment incentive packages to attract new investors, especially in the medical and healthcare industry," he said.
Thus far, US pharmaceutical and healthcare companies such as Johnson & Johnson, Baxter and Organon have invested in Thailand.
Organon (Thailand), which opened in 2021, specialises in making medical products, including reproductive medicine, for women.
The Thai Health Promotion Foundation reported in 2020 that on average Thai girls start having monthly periods when they are 11 years old, with the youngest age 7.
The findings were based on a survey of 8,161 samples in 95 schools, jointly conducted by the foundation, Chulalongkorn and Thammasat universities.
Researchers raised concerns over precocious puberty, which is linked with health problems, including those related to reproductive health.