In Thailand, tourism is a major economic factor. In terms of affordable healthcare and high-quality treatments, Thailand is also recognized as the most competitive destination. Moreover, the increasing geriatric population and the rise in medical tourism are expected to boost the growth of the market in the country. Conversely, the onset of COVID-19 in 2020 impacted the overall aesthetics market in the country. Due to travel restrictions, medical tourism in Thailand faced setbacks.
Liposuction surgeries, also known among locals as ดูดไขมัน, done in cities like Bangkok, which are major cosmetic hubs in the country witnessed week-long lockdowns. By the second half of 2021 onwards, the country’s economy is expected to grow.
Contents
COVID-19 impact on the market
1. Market share analysis
This offers the analysis of vendors considering their contribution to the overall market. Compared to other vendors in the space, it provides the idea of its revenue generation into the overall market. Compared to others, it also provides insights into how vendors are performing in terms of customer base and revenue generation. For the base year, knowing market share offers an idea of the competitiveness and size of the vendors. This reveals the market characteristics in terms of fragmentation, amalgamation, dominance, and accumulation traits.
2. Competitive strategic window
This analyses the competitive landscape in terms of geographies, applications, and markets to help the vendor define an alignment or fit between their opportunities and capabilities for future growth. It describes the geographical expansion, new product introduction strategies, favorable or optimal fit for the vendors to adopt successive mergers, acquisition strategies, and new product introduction to execute further business expansion and growth during a forecast period.
3. Competitive scenario
This provides an outlook analysis of the various business growth strategies adopted by the vendors. The news covered in this section engages stakeholders in the economic debate, keeps up-to-date with the business, and delivers valuable thoughts at a different stage. The competitive scenario represents press releases or news of the companies. All the news collected helps the vendor to understand the competitor’s strength and weakness, gaps in the marketplace, and provide insights to enhance product and service.
Company usability profile
In the Global Liposuction Surgical Procedures Market, there have been recent significant development by leading vendors and innovation profiles including Wells Johnsons Company and Alma Lasers.
Pointers to consider
- Market diversification
It provides detailed information about recent developments, new product launches, recent investments, and untapped geographies.
- Product development and innovation
This provides intelligent insights on breakthrough product developments, R&D activities, and future technologies.
- Market development
It analyses penetration across mature segments of the markets as it provides in-depth information about lucrative emerging markets.
- Competitive assessment and intelligence
It provides an exhaustive assessment of the leading players’ market shares, products, strategies, patent landscape, certification, regulatory approvals, and manufacturing capabilities.
- Market penetration
Offered by the key players, it provides a piece of comprehensive information on the market.
In the first and second half of 2020, the onset of COVID-19 impacted the country’s aesthetic treatment as well as the medical tourism sector. Thailand’s major cities, Phuket and Bangkok are highly dependent on tourism and consist of the majority of the healthcare facilities for aesthetic treatments. The aesthetic medicine market in the country was affected, forcing elective cosmetic procedures in clinics and hospitals to be postponed. However, Thailand was the most prepared country in the event of an epidemic in the whole of Southeast Asia. The country has an advanced and robust healthcare system that has aided in effectively dealing with the pandemic. COVID-19 changes consumer behavior and demand, purchasing patterns, and the significant interventions of governments.