About medical tourism market

20 December 0

Medical tourism deals with traveling to international location for availing medical services. The main reason as to why people travel abroad for medical aid is to access better medical care at lower cost. A large number of people for this reason have started to travel abroad and this form of tourism is gaining immense popularity.

India, Thailand, Singapore and Malaysia are some of the leading countries that are attracting medical tourists. These countries are equipped with a huge pool of doctors and compared to the charges for treatment in other countries, they are reasonable. Asia pacific has received over thirty billion dollars in medical tourism. The Indian medical tourism industry is expected to be worth two billion dollars in the near future. Chennai is known as the capital of this form of tourism in India.

The rise in cost of treatments has resulted in many westerners traveling to Singapore, Thailand and India to avail a range of treatment at a lower cost. Around 40,000 to 50,000 tourists have come to India in 2012. The richer classes of citizens from developed countries likes the U.S travel to the emerging market help bring in more investments to these developing countries thus boosting the economy growth rate. Since foreign revenue can be brought in this way, many institutions both government and private have taken up initiatives to promote this sector.Why not look here,medical tourism market will grow in 2019.

Heart bypass, Angioplasty, cardiac surgery, dental surgery, knee replacement and hip replacement are some of the treatments for which people choose to travel to other regions to avail the services at lower costs. The driver of this industry is mainly attributed to the Internet that provides medical information on services offered from anywhere in the globe. Tourists via the Internet get connected to the brokers who in turn connect them to the doctors. The number of brokers has increased over the years and medical firms have arranged for offering brokerage services have also witnessed a sharp rise. The arising hurdles that have emerged are caused to due concerns over the quality of treatment offered by the developing countries due to the lack of quality governance.

Many countries undertake this form of tourism so as to bring in more foreign revenue and to make favorable their balance of payment position. The cost that the developing countries have to undertake is in attracting more tourists for this purpose. The potential of medical tourism is huge and is soon expected to constitute a large portion of the tourism industry.