Immense support lent by the government as well as rapidly increasing healthcare infrastructure are indicating towards the bright future of the Malaysian medical tourism industry.
According to Dr Pawel Suwinski, senior consultant of healthcare for Asia Pacific, Frost & Sullivan, Malaysia is having immense potential to merge as a leading medical tourism destination, reported
The Star.
During 1998-2008, the number of foreign tourists arriving Malaysia for medical care surged at a compounded annual growth rate of 25.3%. Moreover, growth was also witnessed in revenue per patient that increased to US$ 241 in 2008 from US$ 92 in 1998. At present, most of the foreign patients to Malaysia are coming from neighboring nations like Indonesia where medical infrastructure is not well-developed. Thus, developed countries represent a growing market for Malaysia’s medical tourism market.
The recent promotional campaigns initiated by the Government as well as the Association of Private Hospitals of Malaysia are excellent. In addition to this, the Malaysian Health Ministry has also established the Malaysia Healthcare Travel Council (MHTC) in order to promote and develop the country’s health tourism industry in July 2009. The establishment of MHTC followed with the Prime Minister recognizing health tourism as one of the key approaches to attain rapid, higher and sustained economic growth.
Further, relative political stability and cost advantage have provided Malaysia and edge in medical tourism. According to industry experts, Malaysia is, in fact, comparatively better poised than even Thailand and Singapore.
A research report “
Malaysia Medical Tourism Outlook 2012” by
RNCOS reveals that the cost of treatment in Malaysia is as much as 14 times cheaper in comparison of the US and 45% lower than its neighbor Singapore. Above all, unlike several western countries, patients don’t have to face long waiting lists in Malaysia.
The report also highlights that the country has excellent medical infrastructure. Most of the healthcare facilities and private hospitals have well-qualified, internationally-trained and English-speaking staff. These factors are sufficient to boost the medical tourism industry of Malaysia.
According to a Research Analyst at
RNCOS, “With rapidly surging healthcare infrastructure and expenditure in Malaysia, the reputation of the country as a preferred healthcare and medical destination is increasing. As a result, more and more tourists are expected to visit Malaysia seeking for cheaper, faster and quality medical treatment.”
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