Asian Medical Tourism Market to Grow at 20% CAGR
According to our new research report, “Asian Medical Tourism Analysis (2008-2012)”, medical tourism is emerging as one of the fastest growing markets in Asia, with the rising number of foreign tourists coming for their treatments into the region.
The main reasons for the growth of the industry include the low cost of treatments and the world-class services. The cost of medical treatments in developed countries, particularly in the US and the UK, has been significantly high, which has prompted patients from these regions to visit cost-effective destinations. The medical tourism market is anticipated to grow at a CAGR of over 20% during 2010-2013.
As per our findings, there are various countries that are the most sought after destinations for the medical tourists’ arriving to Asia including – Malaysia, India, Thailand, Singapore, Philippines, and South Korea. Thailand, Singapore and India are the leading destinations for medical tourism that together accounted for around 90% of the total Asian medical tourism market in 2010. These countries offer various complex treatments at affordable costs. The cost of some highly sophisticated treatments, such as hip replacement and heart valve replacement is much lower in India and Thailand than in the United States.
Apart form this, we have identified that medical tourism facilitators 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 which can help our clients in fetching business from these countries.
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