Bangkok,Thailand – The Thailand Center of Excellence for Life Sciences (TCELS) is actively propelling the Thai life sciences industry towards the capital market. Leveraging the Bio Asia Pacific 2024 event, TCELS hosted the “TCELS Business Forum: The Age of Life Sciences Industry” under the theme “Roadmap to Capital Market” to connect Thai entrepreneurs with international investors and foster growth in the capital market.
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Acting Capt. Varit Intrama Ph.D., B.Sc. (Pharmacy) LL.B, Director of Industry Investment Strategy Department at TCELS, said, “TCELS is committed to supporting entrepreneurs with the potential to bring life sciences products and services to the global market, particularly through access to capital market funding.”
Challenges and Opportunities in the Capital Market
Currently, Thailand has less than 30 life sciences-related companies listed on the stock exchange, a number considered very low compared to the industry’s potential. TCELS recognizes the importance of increasing this number to create opportunities for business expansion, cost reduction, and export promotion.
Dr. Intrama added, “The Stock Exchange of Thailand has launched a new market, LIVEx (Live Exchange), to accommodate entrepreneurs ready to enter the capital market, and TCELS is ready to provide full support.”
Value of the Thai Life Sciences Market and Global Opportunities
The latest data from 2022 indicates that the value of the life sciences market in Thailand is 8.9 billion baht per year and is expected to grow to 12 billion baht in the past year. These figures reflect the potential and growth opportunities of this industry in Thailand.
Meanwhile, the global life sciences market is also experiencing continuous growth, with an estimated value of 43.77 billion US dollars by 2029. This presents a significant opportunity for Thai entrepreneurs to expand their markets and generate revenue on an international scale.
TCELS is actively supporting entrepreneurs in various aspects, including funding, training, business matching with foreign investors, and building relationships with the capital market. For this fiscal year, TCELS has prepared a budget of approximately 300-400 million baht to support qualified entrepreneurs.
5 Key Life Sciences Industries Targeted by TCELS
TCELS focuses on promoting five main industries:
- Pharmaceuticals: Promoting domestic drug production, especially generic drugs and biologics, to reduce imports and increase access to quality medicines for the population.
- Medical Devices: Supporting the development and production of high-quality medical devices that meet international standards to enhance competitiveness and exports.
- Dietary Supplements: Promoting the development of dietary supplements from natural resources and Thai wisdom to create added value and meet market demands both domestically and internationally.
- Cosmetics: Supporting the development of innovative and differentiated cosmetic products, emphasizing the use of natural extracts and building strong brands.
- Health Services: Promoting the development of high-quality and international-standard health services, such as hospitals and telemedicine, to meet consumer needs and generate revenue from health tourism.
Key Strategies for Driving Businesses to the Capital Market
TCELS focuses on supporting high-potential entrepreneurs who are ready to enter the capital market, prioritizing business matching, funding, and developing products and services to meet international standards.
- Business Matching: Creating opportunities for entrepreneurs to meet and negotiate with investors both domestically and internationally.
- Funding: Providing financial support for research and development, business expansion, and preparation for entering the capital market.
- Product and Service Development: Assisting entrepreneurs in developing products and services to meet international standards, such as obtaining CE Mark certification for medical devices and registering dietary supplements in foreign countries.
A Bright Future for the Thai Life Sciences Industry
TCELS plans to open applications for entrepreneurs to apply for funding in the 2024 fiscal year in October. Special emphasis will be given to the herbal extract group, one of Thailand’s strengths.
TCELS continues to prioritize international collaboration, especially within the Asia-Pacific region, to exchange knowledge and technology and promote the growth of the life sciences industry at the regional level.
With TCELS’ dedication and support from the government and private sectors, the Thai life sciences industry has a bright future ahead. It is expected that more life sciences companies will enter the capital market, contributing to economic value creation and improving the quality of life for Thai people, while also having the opportunity to grow in the rapidly expanding global market.
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