The rise in the demand for medical products during the COVID-19 epidemic has resulted in a constantly increasing number of new companies in the retail and wholesale medical supply business this year. Almost 25 billion baht has been invested in the business by foreign investors.
Mr. Sinit Lertkrai, Deputy Minister of Commerce, said today that during the first four months of this year, 535 entrepreneurs submitted registration forms for the establishment of a retail-wholesale medical supply business, an increase of 24.42 percent compared to the same period last year. Most of the businesses are located in Bangkok area followed by the central region which has a large population resulting in an increased demand for medicine and medical equipment. Foreign investment by the Thai juristic persons that operate the businesses, has reached almost 25 billion baht, an increase of 17.49 percent. The largest investment in the sector is by American investors. There are currently more than 10,000 retail and wholesale medical supply businesses in Thailand, representing 1.31 percent of all businesses, with a total investment value of more than 82 billion baht.
Profits from 2017 – 2019 increased continually. In 2019, there was a total net profit of more than 19 billion baht, an increase of 1.82 percent. It is considered an interesting business which has a chance to grow in the long term. Therefore, entrepreneurs who are interested in entering the business should take into account relevant regulations such as price setting, price changes and medical supply exports because they are products on a control list. Therefore, the criteria must be studied in detail in order to run the business properly. (NNT)
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