With a population of over 67 million people, Thailand is the 20th most populous country on the planet. More than 70% people are in the age range of 15-64 years, making Thai economy extremely vibrant and versatile. Thailand has the 2nd largest economy in the ASEAN region and 35th in the world.
Life sciences industry in Thailand is growing rapidly. With an increased competitiveness and significant expansion of top-notch medical services, Thailand attracts a large number of medical tourists every year. According to Renub Research published in 2012, Thailand holds more than 40% share in medical tourist arrivals in Asia. Tectura, a worldwide business consulting company, has projected in its report that Thailand will have the 8th largest pharmaceutical market in the Asia Pacific region by 2016.
In the past decade and a half, the number of private sector biotechnology companies in Thailand has increased at an average annual rate of 11%. With the remarkable paradigm shift envisaged in the ASEAN Plan of Action for Science and Technology 2016-20, the life sciences industry in Thailand is sure to scale unprecedented heights.
In this promising scenario Thailand Center of Excellence for Life Sciences (Public Organization) was established in 2004 by the government of Thailand with the core intention of providing the central link between innovation and investment and facilitating domestic and international partnerships in life sciences business in Thailand. It is a public organization and functions under the auspices of the Ministry of Higher Education, Science, Research and Innovation.
TCELS gives the promise of business support in life sciences industry on the basis of Thailand’s ideal business-friendly environment. Thailand has fast emerged as a preferred investment destination. In the IMD world competitiveness ranking 2013, Thailand is at the 27th position in a total of 56 economies. The five key attractiveness factors of Thailand’s economy, as per IMD International are its dynamism, cost competitiveness, skilled workforce, business friendly environment and open and positive attitudes.
TCELS is positioned as the focal point for all life sciences business, research and investment in Thailand. With its team of experts, TCELS is ready to strategically captivate and streamline each emerging business opportunity in the life sciences industry in Thailand and the entire ASEAN region. In 2012 TCELS was awarded the ‘Outstanding Public Organization in Promoting Pharmacogenomics and High Value-added Biomedical Products’ by Thailand’s Senate.