Technology Trends Analysis

The Thai medical device market is projected to grow at 8.5-10% per year from 2016 to 2019. This is higher than the global average due to the increasing senile population, expansion of medical tourism, and leading medical institutes and also government policy to promote Thailand as a medical hub.
The biopharmaceutical industry is expected to grow due to several factors, such as the positive responses to treatment with biologics, the increase in advanced treatments, and the rise in government initiatives for the research and development of biologics globally, thereby increasing the acceptance of the products in the market, as well as an increasing amount of patients with noncommunicable diseases, including cancers and diabetes, who are interested to use the biologics as existing medicine fail to cure said diseases effectively. 
According to market research report by Zion Market Research, global herbal supplementary food industry has income around 86.74 billion USD in 2022 due to 6.8% accumulate growth rate per years. This much growth rate of herbal supplementary food industry come from various factor like increasing of healthcare cost, expensive pharmaceutical product and medical device, and consumer nowadays tend to do prevention than use a cure. 
The development of medical robots involves several economic factors. The first factor is the rise of increasingly health conscious consumers alongside the lowering ratio of the working age population, which is likely to have a continuous impact on the readiness of medical services. 
Before we proceed to the industrial analysis, two phrases require definitions: “cell therapy” and “gene therapy”.  Cell therapy is a medical method that uses cells to cure and regenerate damaged cells or tissues to get its own function back to normal. 
World Health Organization has defined herbal product as naturally occurring, plant-derived substance that have been used to treat illness and herbal medicines are raw, rarely modified, less processing plant-derived materials or products, inorganic or animal origin. They are from seeds, roots, leafs, spores or oil. Herbal medication has been presents over an extended period of time to treat diseases.
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