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Industry Overview: Medical Tourism Industry

Medical Tourism in Thailand has been a flourishing industry over the past few years. More and more patients from western countries like America, England, and Australia, where medical treatments can be highly expensive, are opting to get their surgeries or procedures done by travelling to the countries like Thailand, India, Singapore and Malaysia.  
 
According to the Thai Ministry of Health Service Support 2.24 million foreign visitors came to Thailand for medical purposes in 2011, generated THB 97.8 billion in income. The number of medical tourism visitors was nearly 2.53 million in 2012. Also according to the Ministry of Tourism, Thailand in total earned nearly THB 776 Billion from international tourism in 2011. The Tourism Authority of Thailand (TAT) considers medical tourism as a key magnet that draws more tourists to Thailand and helps to generate higher tourism spending. Medical tourism is a rising star as Thailand seeks to boost tourism revenue to THB 2 trillion by 2015. The pressure to hit the THB 2 trillion target has caused TAT to increase promotion of cosmetic surgery, stem-cell treatment, spas and traditional and alternative medicine. 
 
TAT views Russia, China and the Middle East as the main sources of medical tourism. Russian visitors are interested in traditional Thai medicine, while cosmetic surgery is the top treatment for Chinese visitors. The Middle East market, the biggest in revenue and numbers, is mainly concentrated on hospitals in the Ploenchit-Sukumvit area. Travelers from Singapore and Hong Kong seek cosmetic surgery. Cambodia, Laos, Myanmar and Vietnam also hold future potential if the Asean Economic Community (AEC) becomes a reality in 2015. 
 
Thailand has many internationally accredited hospitals, which offer all kinds of medical treatments, ranging from organ transplants to dental and cosmetic surgery. There are nearly 400 hospitals in Thailand, among which Bumrungrad International Hospital is the largest private hospital in Asia. Bumrungrad International Hospital, Samitivej Hospital, BNH Hospital and the Bangkok Hospital Group are the most frequented large private institutions in Bangkok, and they provide top-quality care, 5-star treatment and departments dedicated to overseas visitors. Bangkok Hospital Group is a network of leading international hospitals found throughout Thailand.  
 
Thailand offers an incredible savings on procedures ranging from cosmetic and dental work to complex cardiac procedures. In the U.S. a heart bypass surgery averages around US$ 50,000, while in Thailand the procedure is nearly US$ 21,000 and it is performed with skill and equipment on par with or beyond that of North America and Europe. Hair plant surgery costs about US$1,800 in Thailand, while it is US$9,600 in the US, which is a savings of more than 80%. Medical procedure costs are at least 20% less than those in the US or UK, and often they are 60% to 80% less. The number of medical tourists choosing Thailand has reached 800,000, and this number continues to grow as steadily as Thailand's medical industry advances.
 
Hospitals in Phuket region are now offering more medical and spa treatments as the Thai government seeks to boost medical tourism revenues to 100 billion baht by year 2015. Thailand is already Asia's leading medical tourism destination and as a result is booming, with the number of medical tourists increasing gradually since 2000. Health care centre in Thailand tend to be hi-tech, modern and safe, and diagnosis and treatment is carried out by a fully licensed, experienced medical doctor offering the quality of patient care you can expect anywhere in the world.  Medical tourism in Thailand is witnessing a stupendous future ahead as this hospitable nation offers high-quality healthcare services at relatively cheap prices, and allows the people traveling here to indulge in a superb holiday time.
 
(Source: Insight Alpha)

 

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Tourism Authority of Thailand (TAT)