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LONDON, Apr 16, 2012 (BUSINESS WIRE) — Thailand is leading Asia as a medical tourism destination, holding more than 40% share in the region’s medical tourist arrivals in 2011.

Its medical tourism market was around USD 2 billion last year, with a great potential to more than double by 2015.

Factors such as international accreditation, updated technology, highly qualified medical personnel and affordable costs have contributed to the growth of this industry.

Bangkok, Chiang Mai, Koh Samui and Phuket are touted as the epicenter of health care services in Thailand and have become the hub for medical tourism.

New market research study “Thailand Medical Tourist Arrivals, Medical Tourism Market & Forecast to 2015″ drawn up by Renub Research provides a comprehensive assessment of Thailand’s medical tourism market detailing various aspects like foreign patients’ arrivals, revenue from foreign patients, competitive landscape and market share of the foreign patients’ arrivals & revenue from foreign patients.

Furthermore, key drivers and challenges of the medical tourism market in Thailand are also featured.

http://www.marketwatch.com/story/thai-medical-tourism-market-analyzed-in-new-renub-research-study-published-at-marketpublisherscom-2012-04-16

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For one reason or the other, individuals travel across international borders to access health services that are available in their destination countries. Similarly, medical tourism could also be referred to as the practice whereby some physicians, doctors or health-care providers are itinerant travelers to different parts of the world to deliver health-care services to potential patients.

It is worthy of note that the health services that medical tourists commonly seek to have include dental surgery, joint (hip or knee) replacement surgeries, cosmetic surgeries, cardiac surgery, psychiatry, alternative treatments, in-vitro fertilization and freezing embryos for retro-production, and surrogate pregnancy.

Countries Associated with Medical Tourism

It is worth stating again that one of the major causes of medical tourism is the relative cost of undergoing a certain medical procedure. For instance, carrying out a liver transplant surgery costs about $250,000 in United States compared to that of Taiwan which costs about $90,000 USD. Another major reason is the lack of adequate health care facilities and services.

As a result, more of medical tourists come from places like Europe, the US, Canada, Japan and the Middle East. Health service providers from such countries stand the chances of losing billions of dollars revenue.

In the same vein, the countries where medical tourists usually consider for medical procedures include India, Jordan, Malaysia, South Africa, Thailand, South Korea, Tunisia, Argentina, Israel, Ukraine, and New Zealand.

Potential Risk of Medical Tourism

It is quite vital for medical tourists to be well aware of the risks involved in seeking health care in some other countries. This will help to determine what could be done so as to minimize or eliminate the risk factors of medical tourism.

1. Low level of expertise of some health-care service providers. There have been cases where some even practice outside of their field. This is highly risky.
2. Low health-care standards. Some countries other than First World have low standards in the health sector.
3. Lack of proper Health Insurance Scheme in some Medical Procedures.
4. The possible risk of post-operation complications after tourists’ return to home countries.
5. Lack of physical contact with the physician after medical care for essential medical check-up.

Factors Responsible for Medical tourism

1. High cost of health-care service. In fact, one of the major reason why medical tourist travel from First World countries to other places is as result of the high cost of health-care services.

2. Convenience and speed. In countries like US and UK unlike in some other countries, many health care services require long waiting times before the medical procedures are embarked on.

3. There is advanced medical technology in many countries today. Many countries are taking advantage of medical tourism by providing high standards of health care services.

4. Lack of local health-care services on certain medical problems. For instance, a medical tourist may seek help for in-vitro reproduction in a foreign country if it is not available in his own country.

From the foregoing, the views held by individuals about medical tourism are not the same at all. Some people from First World countries see it as a risky medical alternative. However, since many countries are now taking to advanced medical technology, some still consider that it is worth doing.

http://www.aetda.com/some-facts-on-medical-tourism/

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Medical tourism or medical travel is not an entirely new concept. Until recently, medical tourists were usually a very select few who chose to travel for elective surgeries such as tummy tucks and face-lifts, combining surgery with a holiday in a far away locale that ensured both privacy and a pleasant stay. As well, there were also a limited number of people who sought experimental medical treatments for illness and diseases such as cancer in foreign clinics. Today there is a swelling rank of medical tourists comprised of ordinary citizens who seek a wide variety of health care services and medical care outside of their home country, and every year that number grows.

For some, medical tourism or international medical travel can literally be a lifesaver, enabling patients to access quality medical services that they might not otherwise be able to afford. In the United States, patients without private health insurance can be faced with exorbitant medical bills for even the most routine surgeries. Sometimes a heartbreaking choice must be made – to have a life saving operation and suffer extreme financial hardship or to not have the procedure and deal with the health consequences. For those who are fortunate enough to have private health insurance, some may find that their insurer does not cover all medical procedures or that their insurance plan imposes unreasonable restrictions. In Canada, where public health insurance pays for most medical care, it has been well documented that unacceptably long wait times are forcing patients to take matters into their own hands and head off shore for timely medical treatment.

Medical tourism has garnered much media attention of late. Word is rapidly spreading about the excellent medical care that is available for bargain prices in countries such as Thailand, Hong Kong, and India. In the book, ‘Patients Without Borders: Everybody’s Guide to Affordable, World-class Medical Tourism,- author Josef Woodman investigates this growing industry. He reports in depth about the high quality of care available in foreign hospitals and how patients, who have surgery performed overseas, can save up to 80 percent. By example, a heart bypass in India can be had for a fraction of the price of one in the United States.

India has become one of the world’s leading destinations for medical travelers. Over the years, India has developed a stellar reputation with medical tourists, due to its state-of-the-art medical facilities that offer advance medical procedures, such as hip resurfacing, knee replacement, heart surgery, kidney transplant and abdominoplasty, at prices that are a fraction of those charged for similar procedures in North American hospitals. ‘Axiom Health Solutions works with Indian hospitals that are staffed with some of the most highly trained surgeons and professional medical personnel available. Huge investments have been made by each hospital group to ensure the highest of standards and the most modern facilities and equipment obtainable. In many cases the success rate in these hospitals is higher than those of American hospitals.

The future of medical tourism looks bright. Factors such as improved technology and standards of care and the availability of companies that specialize in arranging medical tourism packages makes international travel for medical services a very attractive proposition. Undoubtedly, the driving force behind the rise in medical travel is the high price of medical services in North America factor that is unlikely to change in the near future.

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