2024 Thailand Healthcare And Beauty Business Matching, Encourages Entrepreneurs 2 Countries To Create Innovations

Photo: Special

JAKARTA - Thailand Healthcare and Beauty Business Matching event was held at the Kempinski Hotel Jakarta on August 8, 2024. Held by the Jakarta Thai Trade Center (TTC) and the Department of International Trade Promotion (DITP), this event aims to increase collaboration and growth in the health and beauty sector between Thailand and Indonesia.

Mrs. Hataichanok Sivara, Director of Thai Trade Center Jakarta, stated that this event encourages Thai health and beauty entrepreneurs to expand their market in Indonesia. In addition, this event is expected to build a strong network among entrepreneurs from both countries, which will pave the way for future business cooperation.

"With the support of the delegates, we believe this event will strengthen business relations and create new opportunities for innovation in the health and beauty industry, as well as strengthen Thailand's position in the Asian market, especially Indonesia," said Mrs. Hataichanok, in Jakarta, Thursday, August 8.

This event featured 19 delegates from Thailand with various programs, including seminars, business matching sessions, and market surveys focused on health and beauty services. This initiative aims to expand the business of Thai entrepreneurs in Indonesia and strengthen networks between countries to ensure the sustainability of business operations in the future.

Participants from Thailand who participated, representing various sectors:

Beauty and Cosmetics: Tonrakya Company Limited, Herbal Glory Co., Ltd, Sensorial (Thailand) Company Limited, PO.Care (Thailand) Co., Ltd., KP Exclusive Group (Thailand) Company Limited, Fashionwise Venue Co., Ltd., Ksp Interplus Co., Ltd, Merry Cosmetic Laboratories Company Limited, Felicia International Co., Ltd, SC Artisty Co., Ltd, Panya Natural and Trading Co., Ltd.

Medical Devices: Prai Thai 1960 Company Limited, Novamedic Company Limited, Pose Health Care Ltd, Health Innovation Company Limited, Mutha Co., Ltd., Mt Innotrex Co., Ltd.

Hospitals And Specialist Clinics: Suggestions for Medical Company Limited, Asia Cosmetic Hospital Co., Ltd.

Meanwhile, from Indonesia, 35 delegates will participate, representing the beauty & cosmetics sector, medical devices, aesthetic clinics, insurance, and hospitals. In addition, representatives from associations representing the beauty & cosmetics industry will be present, as well as delegates from the Indonesian government.

In the seminar session, 2024 Thailand Healthcare and Beauty Business Matching featured two speakers:

1. Dr. Kilala Tilaar, CEO of Martha Tilaar Group. Explain about products & development, market conditions and existing competition as well as the makloon facilities owned by Martha Tilaar Group.

2. Jon Lie Sarpin, Associate Director of Mayapada Hospital. Explain about market conditions and opportunities for cooperation in the medical health sector as well as an assessment of Indonesian aesthetics such as beauty surgical care and medical device.

The global beauty and personal care industry continues to experience rapid growth. According to various reports, the market is projected to surpass $500 billion in the next few years. This growth is driven by growing demand for innovative products that meet consumer needs who are increasingly aware of health and appearance.

In 2022, Grand View Research reports that the global value of the global medical tourism market will reach US$115.6 billion and is predicted to increase rapidly to US$346.1 billion by 2032. This growth is driven by a number of key factors, including an increase in the number of disease cases, progress in medical technology, access to unavailable treatments in patient home countries, as well as more affordable treatment costs in popular medical destinations.

Awareness of the importance of health and fitness continues to increase, encouraging demand for services that support a healthy lifestyle. With this growth, the global health and beauty industry is increasingly playing an important role in the world economy, presenting great opportunities for business people in this sector.

The health and beauty industry in Thailand has shown significant growth and played an important role in Asia and the world.

For the medical tourism market, for example, in 2022, Thailand will be one of the top 10 countries in the world for medical tourism. According to a Medical Tourism Index report, Thailand is ranked 5th in the world and ranked first in Asia as a medical tourism destination.

In 2023, the medical tourism industry in Thailand generated more than US$12 billion. Thailand receives more than 3 million medical tourists each year, which comes for a variety of medical and health treatments, including cosmetic surgery, dental care, and fertility procedures.

Meanwhile, the Thai cosmetics industry is estimated to be worth around USD 6 billion by 2023, and is expected to grow by 7 percent per year until 2025.

The market for natural and organic beauty products in Thailand is also growing rapidly. In 2023, natural cosmetic products will account for about 30 percent of the total beauty market in Thailand, with an average annual growth of 8 percent.

Another important note, Thailand exports beauty and cosmetic products to more than 120 countries. In 2023, exports of beauty products and personal treatments from Thailand reached 1.5 billion US dollars, making it one of the top exporters in Southeast Asia.

The Thai government, through the Department of International Trade Promotion (DITP), is actively promoting Thailand as a hub for health and beauty in Asia. This initiative includes ease of licensing, promotion at international exhibitions, and financial support for innovation.

Thailand is also involved in various collaborations with other countries to develop the health sector, including research cooperation and the development of new health products.

To say, Thailand is a leader in Southeast Asia in the medical and beauty tourism industry, thanks to its high quality of service and more affordable costs than Western countries.

On a global scale, Thailand is known as one of the countries with the best health facilities that attracts many international patients, as well as a center for innovation in beauty products that compete in the international market.

According to Mrs. Hataichanok Sivara, Director of Thai Trade Center Jakarta, the health and beauty industry in Thailand is not only developing domestically but also playing an important role in the global market.

"With a focus on innovation, high-quality products, and strong government support, Thailand continues to strengthen its position as a leader in this sector, both in Asia and in the world," he said.

According to the Legatum Prosperity Index 2023, the health system in Thailand is ranked 31st and also ranked 5th, which is impressive in the 2021 Global Health Safety Index.

Through a close and sustainable collaboration between Thai and Indonesian entrepreneurs, the two countries can take advantage of business opportunities and face challenges in the health and beauty sectors together. Thus, the 2024 Thailand Healthcare and Beauty Business Matching event is expected to be an important milestone in the development of this industry in the Asian region.