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Health Tech - Interesting investment theme of the future
The COVID-19 crisis starting in 2020 has accelerated changes to lifestyles and technology. The pandemic has also forced people to take better care of themselves for their well-being and safety. At the same time, ongoing rising medication costs and difficult access to medical services abroad, especially in the US and Europe, have played a part in boosting the adoption of digital healthcare technology, offering people better access to medical services at lower costs.
These trends have created opportunities for technology-related businesses, especially in the medical and healthcare fields, popularly referred to now as health tech. The health tech trend continues to grow every year in line with Thailand’s transitioning to an aging society and the healthcare well-being trends of all generations. An example of health tech in Thailand is the Pharmacy Management Platform, launched in collaboration with the Ministry of Public Health. This system can generate and link electronic prescriptions from hospitals to pharmacies so that patients can pick up their medicine at their local pharmacy without having to spend time waiting in long queues at hospitals. Other interesting health tech trends include hospital queue management systems to reduce congestion and waiting times, and service platforms for psychiatrists and psychologists who offer online consultations without the need to see a doctor in person.
Popular health tech adopted in other countries includes:
Health Tech Investment Options
Health Tech Investment Risks
Embracing advanced healthcare technology undoubtedly enhances the quality and standard of the industry. However, investors should always consider their investment goals, time period, and risk appetite by carefully studying fund prospectuses to understand the risks before making any investment decisions.
Nipapun Poonsateansup, CFP®, ACC
Independent Financial Advisor, Author, and Speaker