View Report Details Medical Tourism Market Report ----------------------------------------2015
View Report Details Executive Summary Medical tourism is a high-growth industry driven by globalization and rising healthcare costs in developed countries. However, people prefer traveling to developing countries for treatments in order to save cost. More than forty countries in Asia, America, Africa and Eastern Europe are serving millions of medical tourists annually. International medical service providers are in continuous race to get accreditation from Joint Commission International (JCI). Thailand, Singapore, Malaysia and India are the major destinations in the Asian medical tourism market. Thailand is more popular among Western European medical tourists for cosmetic surgery. Singapore and India specialize in complex procedures with India having a cost advantage and Singapore a technology advantage. The most common categories of procedures that people pursue during medical tourism trips are cosmetic surgery, dentistry, cardiology (cardiac surgery), and orthopedic surgery. The healthcare industry in Thailand has seen rapid growth in recent years, ahead of the country's GDP. In Thailand, medical costs are lower than in Singapore and also, it is a much more popular tourist destination. In this regard it is providing medical services, latest medical technology, medicines, and is further strengthening modern medicine, alternative medicine and biotechnology. The Malaysian government is aggressively promoting medical tourism. Through its Ministry of Tourism, Malaysia oversees tourism policies and tourism-related activities to realize its vision of making Malaysia an international tourism destination. Indian government is aggressively promoting India as a global healthcare destination. It has also started giving affiliation to the companies working in healthcare sector. Being one of the lowest cost and highest quality of all medical tourism destinations, it offers wide variety of procedures at about one-tenth the cost of similar procedures in the US. The Korean government is promoting the nation's growing medical tourism industry and is actively taking initiatives that are mainly geared to introduce the services and facilities of Korean hospitals to overseas expositions. However, Korea has yet to increase its standing among other Asian nations. This report gives an overview of the medical tourism industry with focus on Asia. It discusses the major medical tourist destinations like Singapore, Thailand, Malaysia and India, South Korea and Turkey and their respective competitive advantages. The major healthcare organizations in Asia are also profiled in the later part of the report.
Medical tourism, medical travel or health tourism is the process of planning a trip to another country, or a city with regards to procedures and treatments. Global Medical Tourism Market Size (2004-2015E) The global medical tourism market is growing fast, from US$... billion in 2010 to US$.. billion in 2012 and is estimated to reach US$... billion in 2015. Medical tourism is tremendously increasing in Asia with approximately … million medical tourists arriving in the region in 2014.
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The Asian medical tourism market is expected to expand at a CAGR of nearly …% to reach approximately US$... billion by 2017 from US$... billion in 2014. Thailand, India, and Singapore are expected to control more than …% market share of medical tourism market in Asia in 2015.
Number of Medical Tourists in Asia (2009-2015E)
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Asian Medical Tourism Market (2013-2017E)
The global demand for low-cost, sophisticated medical treatment has driven opportunities in the medical tourism market… Medical Tourism Market Size, Thailand (2010-2014) In 2014, medical tourism in Thailand generated approximately US$... billion of revenue as compared to US$...billion in 2013. In 2014, nearly … medical tourists visited Thailand which accounts for about ..% of the country’s total annual visitors and makes Thailand the world’s most visited medical tourism destination.
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In 2014, approximately US$...million were spent in Singapore by foreigners on medical goods and services It is estimated that Malaysia has received … medical tourists in 2014 . The healthcare tourism in Malaysia contributed US$.. million in 2013 to its economy, in terms of revenue and this figure is estimated to have reached US$...million in 2014.
Medical Tourism Market Size, Singapore (2007-2014)
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Medical Tourism Market Size, Malaysia (2007-2014)
Asia is one of the first regions in the world to promote medical tourism and has created a brand name for itself for having affordable and high quality healthcare… Medical Tourism Market Size, India (2006-2015E)
The medical tourism market in India stood at US$1,100 million in 2013 and is estimated to touch US$... million by 2014, witnessing a growth of …%. The inflow of medical tourists in India is likely to cross …. by the end of 2014 from …. in 2013, due to the availability of world class medical treatment at a fraction of the cost. Korea’s medical tourism market has grown from nearly US$... million in 2012 to US$... million in 2013, displaying a growth of … %.
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The number of medical tourists in Korea jumped from …. in 2009 to … in 2012 and this number is estimated to have further surged to …. in 2013. The medical tourism market in Turkey stood at nearly US$.... million in 2012 and is estimated to have increased ….%, to approximately US$...million in 2013. Medical Tourism Market Size, Korea (2009-2020E)
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Medical Tourism Market Size, Turkey (2008-2014*)
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