Korea has been a popular destination for patients from Asian countries, but its expertise in medical tourism has so far been underappreciated in other parts of the world, particularly the Middle East.
Thailand represents Asia’s oldest player in the medical tourism sector. Medical tourism in Thailand has been consistently growing at rapid pace. Medical care on offer is high by regional standards and treatment is typically 60-70% cheaper than in Europe or the US. The treatment in Thailand is even cheaper than other Asian markets such as Singapore. According to our new research on the sector called “Asian Medical Tourism Analysis (2008-2012)”, the medical tourism market in Thailand is expected to grow at a CAGR of around 11% during 2010-2012.
Our research report is an outcome of extensive analysis of the medical tourism market in Thailand. We have identified that low cost factor along with the quality healthcare treatments have driven the growth of Thai medical tourism market. In this regard our report provides a through cost analysis of different treatments in Thailand by comparing them with other countries like India, Singapore and the US. Besides, we have also identified some other factors, which are essential for the growth of medical tourism market in different countries of Asia and have accumulated them all in our research study.
We have identified that medical tourism facilitators will play an important role in the development of new medical tourism markets in Asia. Thus, we have included a brief business profile of these facilitators. The report also enlists some major medical tourism facilitators in American and European countries, which can help our clients in getting business from these countries. Moreover, the report also discusses certain roadblocks that are restraining the growth of the medical tourism market in Asian countries.
“Asian Medical Tourism Analysis (2008-2012)” also provides valuable information on the key competitors in the market along with their business description and area of expertise. This will help clients in understanding the market in a better way, thereby providing them with an additional edge over other competitors in the market while devising their strategy.
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New Delhi: India is set to earn Rs.80 billion ($1.87 billion) a year in foreign exchange from medical tourism by 2012, according to a study by the Associated Chambers of Commerce and Industry of India (Assoc ham).
With easy visa facilities to overseas patients coupled with best emerging medical infrastructure facilities, India’s medical tourism can become a lead foreign exchange earner and the earnings will grow from the existing Rs.35 billion annually to Rs.80 billion a year by 2012, Assoc ham president Venugopal N. Hoot said.
The study on Prospects of Medical Tourism for Higher Forex Earning was done under the supervision of the health committee of Assoc ham, headed by Sir Gaga Ram Hospital chairman B.K. Rio.
“The primary reasons as to why medical tourism would flourish in India include much lower medical treatment costs for various ailments, such as bone narrow transparent, bye-pass surgery, knee surgery and liver transplant as compared to western countries,” Hoot said in a statement Monday.
“The cost of medical treatment is very high in the western countries, forcing patients from Africa, the Gulf and various other Asian countries to explore medical treatment in India,” he said.
He noted that the medical infrastructure in the country has geared up to provide them non-subsidized medical treatment at far lower costs.
Other factors boosting medical tourism include India’s strength in traditional treatment in homeopathy, naturopathy, ayurvedic and inane systems which are becoming very popular because they do not have side effects, said Hoot.
He called for more allocation for the health sector which would lead to proliferation of new health facilities and centers of medical excellence, which in turn will finally be able to service overseas patients.
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