According to SCB EIC estimates, the Thai medical tourism market in 2023 is likely to recover to a higher level than in 2019 and will be valued at 2 billion baht.
The future growth of the Thai medical tourism market is fueled by a number of health megatrends. These include the entrance of the silver economy in 2021, which is driving demand for medical care and innovation in anti-aging technology.
Chronic non-communicable diseases (NCDs) on the rise
Additionally, the growing middle class and increased purchasing power around the world are creating a demand for high-quality, comfortable medical services. The prevalence of chronic non-communicable diseases (NCDs), such as diabetes, cancer, and heart disease, is also on the rise globally due to lifestyle habits such as poor diet and excessive alcohol consumption.
Higher medical and healthcare costs
This has resulted in higher medical and healthcare costs. Furthermore, the COVID-19 crisis has led to a shift in consumer behavior towards greater health consciousness, with a greater emphasis on preventive medicine, physical examination, and physiotherapy services.
Thai medical tourism strengths
The Thai medical tourism market boasts several strengths that continue to attract medical tourists to the country. These include affordable medical expenses, high-quality staff and medical facilities, and Thailand’s status as a popular tourist destination.
Firstly, medical expenses in Thailand are competitive compared to other countries in the region, especially in fields such as cosmetic surgery and hysterectomy. This affordability makes medical treatment in Thailand an attractive option for many medical tourists.
Secondly, Thai healthcare professionals have a high level of expertise in a variety of fields, offering unique services that meet the needs of patients. Additionally, Thailand has the most JCI-certified international healthcare facilities in the ASEAN region, with a total of 59 locations. This certification is an important factor in attracting medical tourists who prioritize the quality of medical facilities and staff.
Finally, Thailand’s status as a popular tourist destination also attracts medical tourists who wish to extend their stay and enjoy the country’s attractions while receiving medical treatment.