Medical tourism has emerged as the fastest growing segment of the Asian tourism industry despite the global economic downturn. High cost of treatments in developed countries, particularly in the USA and the UK, have been continually attracting patients from such regions towards alternative cost-effective destinations. At present, medical tourism in the region is in its infancy, but has an enormous potential for future growth and development.
As per our new report, “Asian Medical Tourism Analysis (2008-2012)”, the revenue from the Asian medical tourism industry is forecasted to grow at a CAGR of around 14% during 2009-2012. Various Asian countries such as India, Malaysia, Singapore and Thailand have been investing huge amounts in their healthcare infrastructure to meet the demand for quality-assured medical care through first-class facilities and highly trained medical specialists, including tertiary hospital care. For the purpose of this report, Asia includes Singapore, Thailand, Malaysia, Philippines, India and South Korea.
As per our research, the medical tourism industry in the region is growing at double-digit growth rate, outstripping the 4% to 6% growth in general travel bookings. Thailand, India and Singapore dominate the region’s medical tourism industry, with a combined market share of around 90% in 2008. However, our research foresees India to emerge as one of the fastest growing medical tourism industry, accounting for around 25% of the region’s industry by 2012. In this regard, we have done in-depth analysis of the key factors driving the growth of medical tourism in the country.
“Asian Medical Tourism Analysis (2008-2012)” provides thorough analysis of the current market performance and the future outlook for each of the key markets discussed in the report. 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 of the fact has been thoroughly studied in the report. In all, this report provides valuable information to clients looking to venture into these markets and helps them to devise strategies while going for an investment/partnership in these markets.
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