Technicalbiomed to expand market share by turning Thailand into beauty hub
“Technicalbiomed” plans to expand its market share in cosmetic surgery as well as in obstetrics and gynaecology segments by turning Thailand into an Asian hub for aesthetics and beauty.
Warut Suttinan, managing director of Technicalbiomed Co Ltd, an importer and distributor of aesthetic medical devices in Thailand, said: “Thailand is now recognised as a hub of beauty in Asia. The markets for both innovations and cosmeceuticals are growing. In 2017, the medical devices market had a total value of more than Bt1.6 billion, which rose at least 6 per cent in 2018. Each year, many foreigners come to Thailand for the service, and as a result the aesthetic market in Thailand is continually growing.
“The definition of aesthetics in the future will shift from taking care only of the external appearance to overall health-consciousness, focusing on the restoration of inner health and overall wellbeing. The drift is already taking place. You can notice that many clinics have started to make some changes in the services they offer, such as hair transplants, feminine health, snoring solutions and stem-cell therapy. These services are very popular in the United States and Europe. Though, Thailand is still early in the game, these services project the market trend in Thailand, and soon these innovations will play an important role in our everyday lives,” he added.
According to Warut, Technicalbiomed has utilised the direct sales model via clinics and hospitals in the past. It is very important to have a qualified physician test the device to see if it works with Thai people’s skin type before presenting it to customers. Meanwhile, cosmetics brand Dermo28, which was brought to Thailand by Technicalbiomed, has also has been receiving a good feedback and has started expanding its market by targeting elite spas and hotel chains.
Technicalbiomed’s growth rate is around 10 per cent per year and it is expected that total sales this year will be around Bt100 million.
The company has also started expanding in the plastic surgery segment to include liposuction and fat graft, hair transplants and gynaecology. It also plans to extend its distribution via a digital platform by adding new business models.