Analysis, Scope, Cost, Destination, Economics, Feasibility, Opportunity,
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- Medical tourism can
be explained as the practice of travelling from one country to another
country for the purpose of receiving medical attention, like heart
surgery, breast implants, hip replacement, or dental work.
- Depending on the
location and procedure of the treatment, a medical vacation can cost
50%, 30%, or even 10% of what you would pay at home.
- It can also be
defined as a provision of 'cost effective' private medical care in
collaboration with the tourism industry for patients. This process is
being facilitated by the corporate sector involved in medical care as
well as the tourism industry - both private and public.
- More and more people
are travelling abroad considering as an affordable, enjoyable, and safe
alternative to having treatment in their home countries.
- Medical tourists are
generally said to be residents of the industrialized nations of the
world and mostly come from The United States, Canada, Great Britain,
Western Europe, Australia, and The Middle East.
- Canadians and
Europeans have been travelling outside their regions for years to obtain
medical procedures due the long waiting periods associated with
- The cost of the
medical treatments in the countries we participate is generally 50 to 80
percent less expensive than the same procedures in the US.
- In reviewing the cost
of many procedures in the US, versus the same ones performed in our
selected destinations, costs are typically 50-80% lower abroad. The
greatest cost savings is found in cardiac procedures (75-90% lower fees
outside of the United States). If you have received quotes in the US for
$10,000, you can expect the same procedure to cost between $2,000 and
- This significant cost
reduction enables you to purchase a round trip air ticket, recover
in a 5 star resort, buy a new wardrobe, and return home saving money.
Doctors in the US are required to pay medical malpractice insurance that
usually cost over $100,000 annually. Foreign doctors are required to pay
medical malpractice insurance as well, but their costs are as low as
- Hip replacement in
India, Malaysia, Singapore, South Korea and Thailand can run as low as
one-fifth the cost for the same surgery back home.
- A facelift, costing
$10,500 to $16,000 in the U.S., is $5,500 to $6,500 in Brazil, and as
low as $2,400 in Thailand and $4,000 to $8,000 in Singapore, South Korea
- Malaysia, Costa rica,
India, Brazil and America are the top 5 destinations for medical
tourism. Many Americans travel to Mexico for cosmetic surgery.
- The emerging world of
medical tourism is one that must be tapped into by successful travel
agents. `Medical tourism' will account for 3-5 per cent of the total
healthcare delivery market and could provide as much as Rs. 5,000-10,000
crore revenue to hospitals by 2012.
- Worldwide gross
medical tourism revenue is expected to grow from $56 billion to $100
billion by 2012, with Asia as a major driver of this growth.
- This industry, still
in the nascent stage, is predicted to grow at a rate of 30% over the
next 5 years and contribute additional revenue of USD 2.3 Billion by
2012. This industry is slated to be the next largest export grosser
after the software industry.
Entrepreneur who want the information such as
Scope, Cost, Destination, Economics, Feasibility, Opportunity, Statistics,
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