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Asia-Pacific Medical Tourism Outlook : New Champions on the Horizon are Threatening Market Leaders
This research service provides an analysis of the medical tourism industry in the APAC region. It provides a detailed analysis of the current trends, market size, revenue forecast, drivers, and restraints in medical tourism industry in the region. Market participants and key opinion leaders in APAC hospitals were interviewed to obtain their perceptions of trends and opportunities in the hospital industry. The regional scope of this research service includes India, Malaysia, Thailand, Singapore, South Korea, the Philippines, and Vietnam.
Medical Tourism revenue of Asia-Pacific region (APAC) stood at $ billion in 2014 with Thailand accounting for almost % of this revenue.
- The growth in the medical tourism industry in APAC is primarily driven by the demand for quality healthcare for the rising population that is also aging and cheap treatment costs compared to western countries such as the United States (US) and the United Kingdome (UK).
- Key growth restraints in the medical tourism industry in APAC are political unrest in Thailand and emergence of new medical tourism hubs.
- Medical tourists spend nearly ?– % of their overall expenditure on treatment costs, whereas the remainder is spent on airfares, accommodation, food, and travel.
- A majority of the medical tourists in APAC are from Asia, the Middle East, and Africa. Only a few patients visit from the US and Europe.
- Medical tourists travel alone or with their spouses. Some medical tourists travel with other relatives and friends. These travelers present revenue generation opportunities, especially, for airline and hotel sectors.
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