on June 27, 2024 at Renaissance Hotel. Ratchaprasong at Investment-Forum 2024, organized by Krungthep Durakit, explores investment treasures in an era of global anger. A special lecture took place: Disseminating the Next Gen Concept to Drive Modern Business by Wirot Chaithoedkiat. The CEO of Namvivat Medical Corporation Public Company Limited or NAM said the past Covid crisis has changed the healthcare system structure in the country and many other countries, including medical technology. Medical equipment has changed like never before in the world. It covers more than 10 years of development.
3 Factors That Changed Medical Devices
3 main factors contributing to the effect: 1. Life expectancy: Average life expectancy increases. Medicine must come to solve the problems of an aging society. At the same time, fewer people were born. It causes the structure of life to change
2.Climate change, a disease that never existed Diseases of global warming Lifestyle changes Modern medicine must answer the question.
and 3.IoMT Transition or Internet of Medical Technology In the past, medical equipment was for personal use. Nowadays, medical devices talk to each other. Big data that can be extracted for analysis and maintaining accuracy and being safe and fast in medical matters means that medical equipment will become personal life.
For example, you can perform robotic surgery yourself. No need to trust the doctor Remote surgery or brain surgery with a doctor on the other side of the world does not require cutting into the brain and uses a small system that is inserted into the brain and completed in 30 minutes, before 5-6 hours, or today, the doctor is on one side of the world and the patient is on the other side. Medical devices are responsible for transferring data to the cloud. The doctor can know what is happening to the patient.
Aimed at exporting European-American products produced by Thai people.
The growth of the global medical industry is projected to reach $5.7 trillion by 2030, compared to just $2.3 trillion today. In the delivery area, it means government investment, national and international agencies, which is the cost of achieving better health and better living conditions. In the last 20 years, the development of Thai medicine has grown tremendously. Government investment in supplies has fallen significantly, averaging 5%.
This reflects that the medical field is a profession with a very good immune system. No matter how bad the economy is, investment has increased. The economy is good, investment is increasing through NAM as a manufacturer of medical equipment in the country for 54 years, there is a vision to manufacture medical equipment in the country. There are 320 SKU products at par with international standards for medical personnel and service providers to meet the needs of patients for better well-being who want to innovate to develop new products. Made by Thai people ready to export to Europe or America.
NAM wants to redefine the industry.
NAM wants the medical field to grow in line with global trends. Following the World's New Innovations 1. Don't be afraid of what we want to be. What do you want to be? If the vision is clear, there is a clear goal and when the picture is clear, the strategy will be followed. Go to destination The strategy that NAM uses and wants to improve is advanced research and development. Aspires to be a leading Thai medical device manufacturer in collaboration with a group of partners. Namvivat invests 5% in research and development to obtain patentable innovations. The product was developed to meet the needs of modern medicine to create a research center to create in-depth research images. Set a goal to come out with another one each year.
2. NAM production is a strong point. Must be precision manufactured meets modern medical requirements
3. AI emphasizes and sets investment goals It makes NAM's medical equipment talk, walk and process. Without the need for people to intervene
and 4. Total settlement is NAM's strength. Research and development, manufacturing, trade and services are all in the same cycle of the ecosystem.
“Good Thai innovation cannot continue in business. Because research, development, production and trade are separated in different places, everyone has to work together to create an ecosystem. Being able to drive what you think is an important key. New products are produced. Made in Thailand. Grow abroad in Thailand. Create a better quality of life for a better Thailand.” ,” said Wirod.
Be a step to the Master
Meanwhile, the CEO of Master Style Public Company Limited, Lapasarada Lertbanuroj, said it has been in the market for over a year and is about to start a business. Be aware of the risks of that business if there are no people who want to beautify and beautify the surgical profession. Or do more than Botox filler injections with Masterpiece, a knife application service. The matter of doctors is considered to be the biggest risk.
Therefore, every doctor has a long-term contract of at least 10 years, which makes it difficult to compete. Because I went to the beauty salon. There will be a specific category. But if you come to the master from head to toe, use the concept of “Be a batter You” and be beautiful in your own way, not copy a model. You can see a doctor every day, so far only 1 doctor, and the master has only 47.
Master goal
“The beauty industry in Thailand will reach 64,000 million baht in 2023, but what is interesting is that there are 24% of people who do not work in beauty. I still see opportunity there. The surgery business returns income by returning to perform surgery in a new location. Masters approximately 15% and 2024 During the year, the revenue from this group is 24%, which increases a person's confidence that people are opting for nose lifts and facelifts,” Lapasarada said.
However, 98% of customers come from all social channels, which many businesses have joined a year after entering the stock market. As they see the marketing prowess, shooting ads for the largest Plastic Surgery & Aesthetics business on the Facebook channel Tik Tok is a goal towards master.
The growth rate is leaps and bounds.
Master does not have work life balance, but work life integration works 24/7, but when taking breaks. I won't feel guilty. Because I did my best. At the fastest growth rate CAGR from 2020-2023, revenue share 33.55%, profit 35.15%, open rhinoplasty, revenue share 19.20%, brow & facelift 14.75%, with top 5 procedures in master including breasts %, liposuction 7.14% and facial contouring 7.10%.
If we take away the 3 philosophies of master management, MTP can be divided into 1.Movefast, believing that everyone is ready to accept change, 2.Trust and teamwork, when someone starts to weaken. Another person can replace them immediately and 3. Great Passion Everyone is like a worker ant, able to mobilize and work with discipline.
Create master worlds with partners.
Currently, there are 15 Master World Partners with different expertise such as Cross Border located in different provinces. The original had strong point leather. In case of surgery the bringing market has 50% closed market share, of which 3 segments join the primary group. , my market segment closed at 40%, in addition to cross-selling gastric bypass surgery, it is set to become a specialty hospital. As the patients have double depression, it is less than 1 year to build a hospital to treat them and Chiang Mai nursing home. Supports Thai and expatriate residents. Two villa type and 150 beds for elderly care.
“Target coverage in Thailand was 60%, and the growth rate of foreign customers last quarter was 24%. Indonesia increased from 15% year-on-year and China from 11% to 14%, showing that in addition to Thais, there are also foreigners who are driving the growth of Masters,” Lapasrada said.