Innovations in medical services are expected to help increase the number of patients for private hospital operator Vimut Holding Hospital Co, which has observed that expensive medical services have been discouraging people from visiting hospitals.
"The hospital and healthcare sectors are facing many challenges, but we believe that the number of people seeking healthcare services at Vimut will continue to grow steadily," said Surawee Chaithumrongkool, chief executive of Vimut, a unit of Pruksa Holding Plc, a real estate developer.
In its third year of operation this year, the hospital has exhibited a remarkable growth rate that has surpassed the 34% increase recorded last year.
In 2023, Vimut noted signs that the number of patients had begun to decline as many individuals became increasingly reluctant to seek medical treatment, attributing their hesitation to the high cost of healthcare relative to income.
But Ms Surawee believes Vimut can improve its growth this year with new medical services, especially Intraoral Negative Airway Pressure Therapy (iNAP), which is aimed at dealing with sleep disorders that affect 25% of Thais.
Data from the Royal College of Otolaryngologists-Head and Neck Surgeons of Thailand shows that around 25% of the population experiences sleep disorders, with around 5% or roughly 3 million individuals suffering from obstructive sleep apnea (OSA).
OSA refers to conditions concerning complete airway collapse or a partial collapse with an associated decrease in oxygen saturation or arousal from sleep, according to the National Institutes of Health.
The National Council on Aging in the US said an estimated 936 million people globally are affected by OSA, with cases ranging from mild to severe.
Vimut has collaborated with Namwiwat Medical Corporation Plc, a medical product and service provider, to introduce iNap to patients.
This is part of Vimut's efforts to develop hospital services to serve patients and meet demand in the healthcare market, said Pichit Kangwolkij, deputy group chief executive of Pruksa Holding.
The global market value of medical devices treating sleep apnea is expected to increase to US$9.95 billion by 2030, up from $6.06 billion in 2022, with a compound annual growth rate of 7.3% between 2023 and 2030, said Viroj Chaiturdkiet, authorised director and chief executive of Namwiwat Medical Corporation.