For the last few years, the Asian medical tourism industry has been growing at a rapid pace, and has become a key attraction for the foreign tourists. The industry has gained ground on rising healthcare costs in the developed world, long waiting time, and unavailability of quality healthcare in some countries, like the Middle East. According to a recent research report by RNCOS, the region’s improving healthcare infrastructure is among the key factors driving the Asian medical tourism industry. Countries, such as Malaysia, India, the Philippines, Singapore, and Thailand have shown a significant improvement in providing quality medical care through trained specialists and world-class facilities. This high quality infrastructure will keep on driving the Asian medical tourism in future.
The report, “Asian Medical Tourism Analysis (2008-2012)”
, says that hospitals in Asia employ services of well-qualified physicians, top-tier medical technicians, and nursing staff to provide appropriate treatment to patients, and this turns into a high success rate for complex surgery procedures and patient satisfaction. Thus, the Asian healthcare sector holds immense potential for the medical tourism industry, but this prospective can only be realized if clear-cut policy measures are laid down for the promotion at the international level, and if the governments and private players participate in a well-coordinated manner. The study anticipates that the Asian medical tourism industry’s revenuewill grow at a CAGR of over 20% during 2010-2013.
The research provides an unprejudiced analysis of the current market performance, and presents future outlook for the key Asian medical tourism markets – Thailand, Singapore, India, Malaysia, the Philippines, and South Korea. It acknowledges the fact that the six Asian markets covered in the report have vast differences in terms of cost, infrastructure, human resources, patient perceptions, competencies, and level of government support. Each fact has been thoroughly studied in the report, which gives valuable information to clients who are looking to enter these markets, and helps them devise appropriate strategies.