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Thailand Telehealth Market Size To Reach $9.51 Billion By 2030

The Thailand telehealth market size is anticipated to reach USD 9.51 billion by 2030, expanding at a CAGR of 29.1% during the forecast period, according to a new report by Grand View Research, Inc. The growing adoption of telehealth and digital healthcare, shortage of medical professionals, and rising demand for healthcare services contribute to the market growth. Moreover, an increase in the number of initiatives by market players in terms of technological advancements and a growing focus on telehealth technologies have led to increased funding in the digital health space. This is expected to impact the market positively. According to a report published by Galen Growth, a total of USD 11.64 million in venture capital funding was raised through 12 digital health deals from 2019 to 2024.

The demand for healthcare is growing in Thailand due to the rapidly aging population and rising prevalence of chronic diseases. According to the World Bank, the percentage of the population aged 65 and above was 15% in the region in 2022. The working population in the region is also rapidly growing. According to an article published in Trading Economics, the number of employed persons in Thailand rose to 40.09 million in Q3 of 2023, increasing from 39.68 million in Q2 of 2023. The average number of employed persons in Thailand from 1998 to 2023 was 36,244.09 thousand, reaching a record high of 40,091.33 thousand in the third quarter of 2023. This, in turn, is increasing demand for high-quality care. Thus, increasing healthcare needs along with a shortage of medical professionals is estimated to drive the telehealth market’s growth in Thailand.

Moreover, insurance companies have partnered with telehealth platforms for free customer consultations. In September 2023, Doctor Anywhere (DA) partnered with Allianz Partners to provide complete telehealth services to the members of Allianz's international health in Thailand, Singapore, Malaysia, and the Philippines. In April 2020, insurance providers AIG and Cigna Singapore partnered with Doctor Anywhere to offer their policyholders a free COVID-19 Medical Advisory Clinic service. Through Medical Advisory Clinic, users can opt for video consultation using the Doctor Anywhere mobile app. In April 2020, AXA Asia introduced its free teleconsultation program in countries such as the Philippines, Thailand, and Indonesia for its insurance customers.

Thailand Telehealth Market Report Highlights

Real-time interactions dominated the service type segment with 45.0% of the market share in 2023, owing to the technological advancements in telehealth to provide services in rural areas for people seeking proper medical guidance for various health-related reasons
The remote patient monitoringsegment is expected to grow at the fastest CAGR over the forecast period, owing to its advantages, such asreal-time monitoring, improving patient engagement, detecting activity patterns, reducing errors, optimizing utilization management, reducing hospital readmissions, and cost reduction
The web-based segment held the largest market share in 2023 as web-based servicesprovide access to the most remote areas using only one computer or monitoring device
The cloud-based segment is expected to grow at the fastest CAGR during the forecast period, owing to the benefits associated with cloud technology, such as external web servers, remote access & authorization, information sharing across different stages of the value chain, and immediate detection of security threats & lapses
Based on application, the diagnosis segment dominated the market in 2023, owing to the technological developments and government promoting the adoption of telehealth for diagnosis & treatment, especially for minor diseases
The prevention segment is expected to grow at the fastest CAGR during the forecast period due to several initiatives by healthcare companies and government to control rapidly growing diseases
Based on type, the tele-hospital segment dominated with the largest market share in 2023, owing to growing health consciousness, rising demand for quick, easy, & affordable care, and rising geriatric population
The tele-home segment is expected to grow at the fastest CAGR during the forecast period, as it facilitates access to healthcare through specific applications & video consultations and enables communication between patients & doctors in remote locations, eliminating the need for visits to hospitals & clinics
The providers segment in end-use dominated the market, as physicians are adopting telehealth rapidly due to their willingness to see patients over videos, physician shortage, and a high burnout rate
The patients segment is expected to grow at the fastest CAGR for the forecast period, as telecare platforms enable patients to consult various doctors via audio, chat, and video calls
In December 2023, Abyrx, Inc. Doctor Anywhere Pte Ltd.secured a USD 40.8 million Series C1 extension round with participation from investors such as Novo Holdings and Square Peg. This funding would be utilized for product innovation and meeting customer demands.

Thailand Telehealth Market Segmentation

Grand View Research has segmented the Thailand telehealth market based on service type, delivery mode, application, type, and end-use:

Thailand Telehealth Service Type Outlook (Revenue, USD Million, 2018 - 2030)