According to a report entitled “Asian Medical Tourism Analysis (2008-2012)”, the Asian medical tourism industry is currently growing at a double-digit growth rate. But another study points out a relatively low number of Americans who travels abroad for medical assistance. The availability of world-class health-care infrastructure and skilled medical professionals along with low cost treatments are some of the key factors that are driving the market growth.
The availability of world-class health-care infrastructure and skilled medical professionals along with low cost treatments are some of the key factors that are driving the market growth. The growth momentum is expected to continue in future also and it is expected that around 5.6 Million health tourists will visit Asian countries by 2012 spending around US$ 9.1 Billion in return.
These countries have witnessed a significant development in the area of health tourism on the back of the government support and private investments. It is estimated that more than 4.3 Million medical tourists will visit these countries during 2010, generating combined revenue worth over US$ 6.7 Billion.
Our report has found out that India can be regarded as the most attractive and potential medical destination in key Asian countries. India has the advantage of well-known hospital chains that offer splendid range of health services and treatments at low prices. Patients from developed countries such as, the US, Germany, and the UK prefer to visit India due to English speaking population and attractive tourist places.
The report “Asian Medical Tourism Analysis (2008-2012)” covers all the important aspects of health tourism market in Asian countries providing statistics and an in-depth analysis of the key regions and segments. The report also provides comprehensive research and unbiased analysis of current market performance and future outlook.
The future projection in key segments and variables has been calculated after proper utilization of effective methods and techniques. Analysis of key market trends that may have an impact on the overall market performance has also been covered. Besides, description and recent developments of key market players has been discussed.
The number of Americans traveling overseas for medical care with assistance from medical tourism companies is relatively small.
Attention to medical records security and patient outcomes is variable and cost-savings are dependent on US prices. That said, overseas medical care can be a reasonable alternative for price sensitive patients in need of relatively common, elective medical procedures.
For patients, the most common destinations were India, Costa Rica, and Thailand. And they seemed most likely to travel internationally for orthopedics, cardiac care, and cosmetic surgery than other treatments.
But interestingly, the researchers found that the costs reported by the medical tourism companies for many common procedures were often not all that much less than what Medicare pays. Coronary bypass surgery, for example, costs on average about $20,000 overseas (including various doctor and hospital fees and travel expenses), while the average Medicare reimbursement is $21,000.
Still, $20,000 overseas could potentially be a steal for someone without insurance.
Though the main pull for overseas care seems to be a perception of lower costs, some patients go for “miracle” treatments that have not been approved for use in the U.S. The most common unapproved treatment among medical tourists, according to the survey, is stem cell therapy.
List of Tables:
Table 3-1: US, India & Thailand – Cost of the Complex Treatments (US$)
Table 3-2: US & UK – Approximate Waiting Period with Nature of Treatment (Months)
Table 4-1: Cost Comparison of Various Surgical Procedures among Key Countries (US$)
Table 4-2: India – Cost of Cardiac Procedures in Comparison to Other Countries (US$)
Table 4-3: India – Cost of Orthopedic Procedures in Comparison to Global Average (US$)
Table 4-4: India – Cost of Neurological and Spinal Surgical Procedures in Comparison to Global Average (US$)
Table 4-5: India – Cost of Cosmetic and Plastic Surgical Procedures in Comparison to US (US$)
Table 4-6: India – Cost of Dental Treatments in Comparison to US (US$)
Table 4-7: India – Cost of Gastric Procedures in Comparison to US/Canada (US$)
Table 4-8: India – Cost of Arthroscopic Procedures in Comparison to US/Canada (US$)
Table 4-9: India – Cost of Breast Procedures in Comparison to US/Canada (US$)
Table 4-10: India – Cost of Transplant Procedures in Comparison to Mexico (US$)
Table 5-1: Thailand – Major Private Hospitals Serving Foreign Patients
Table 5-2: Thailand – Cost of Various Surgical Procedures in Comparison to US (US$)
Table 5-3: Asia – Number of Hotel/Resort Spas by Country (2007 & 2012)
Table 5-4: Thailand – Number of Spa Visits by Destination
Table 5-5: Singapore – Cost of Various Surgical Procedures in Comparison to US (US$)
Table 5-6: Singapore – Healthcare Medical Staff (2008 & 2009)
Table 5-7: Singapore – Medical Infrastructure (2008 & 2009)
Table 5-8: India – Cost of Different Treatments in Comparison to Developed Countries (US$)
Table 5-9: India – Healthcare Infrastructure
Table 5-10: India – Cost of Accommodation (US$)
Table 5-11: India – Medical Infrastructure by Medicinal System
Table 5-12: Malaysia – Cost of Various Surgical Procedures in Comparison to US (US$), 2007
Table 5-13: Philippines – Number of Registered Health Professionals
Table 5-14: Philippines – Cost of Various Surgical Procedures in Comparison to US (US$)
Table 7-1: Apollo Hospitals – Strengths & Weaknesses
Table 7-2: Bumrungrad Hospital – Strengths & Weaknesses
Table 7-3: Parkway Health – Strengths & Weaknesses
Table 7-4: Raffles Medical Group – Strengths & Weaknesses
Table 7-5: St. Luke’s Medical Center – Strengths & Weaknesses