Asia medical tourism analysis and forecast to 2015

Asia Medical Tourism Analysis and Forecast to 2015

Renub Researchwww.renub.com

Published: October, 2012Copyright © 2012 Renub Research – All Rights Reserved

© Renub Research Page 2 of 18

In this global economic slowdown when every other industry future seems bleak. Medical

Tourism Industry is the one sector whose present is bright and future seems even brighter. Asia

is one of the first regions in the world to promote medical tourism and has created a brand

name for itself for having affordable and high quality healthcare. Asia medical tourist number

of arrivals is expected to cross the figure of 10 Million numbers by 2015. Asia medical tourism

market is expected to double by 2015 from its current market in 2011. In our research of

medical tourism analysis we found that out of 7 countries 3 countries Thailand, India and

Singapore is expected to control more than 80% market share in 2015.

Thailand is the leader in medical tourist arrivals holding more than 40% share in Asia medical

tourist arrivals in 2011. Its medical tourism market is also expected to be more than double by

2015 from its current market in 2011.

India was one of the first countries to recognize the potential of medical tourism. From the

year 2009 to 2011 the number of medical tourists in India has grown by 30%. It is estimated

that by the year 2015, India will receive nearly half a Million medical tourists annually.

Singapore medical facilities are considered to be the best in Asia but its treatment cost are bit

costlier compared to its competitors. Singapore medical tourist arrivals are expected to be

more than 1 Million by 2015.

Philippines started off bit late for the medical tourism but are catching up quickly. Its medical

tourism market is expected to grow with a CAGR of 9% for the period of 2012 – 2015.

South Korea is a fast-growing medical tourism destination. It is forecasted that by 2015, South

Korea will attract more than 300 Thousand medical tourists.

Malaysia has seen an impressive growth in medical tourism industry. Malaysia medical tourism

market has grown more than 8 times in 2011 compared to its market in 2003.

Taiwan medical tourism has become one of the biggest attractions for mid to high income

Chinese tourists. The country’s medical tourism market is expected to increase at 7% CAGR

from 2012 to 2015.

© Renub Research Page 3 of 18

Renub Research report titled "Asia Medical Tourism Analysis and Forecast to 2015” provides

the current status and future outlook of Asia medical tourism market survey analysis. This

report studies in detail various aspects of medical tourism such as number of foreign patients’

arrivals, revenue from foreign patients change projections and cost comparison of various

types of surgeries in the United States with other Asian countries (Thailand, India, Singapore,

Malaysia, Philippines, South Korea and Taiwan). The medical tourists arrivals share and medical

tourism market share has also been studied in this report. Driving forces of each country in

medical tourism industry and Challenges faced by each country in medical tourism industry has

been studied in this report.

7 Asian Countries Medical Tourism Analysis Data Studied in this Report

India, Thailand, Singapore, Malaysia, Philippines, South Korea and Taiwan

Key Topics Covered in the Report

Number of Medical Tourists Arrival and Forecast in Asia (2008 – 2015)

Medical Tourism Market and Forecast in Asia (2008 – 2015)

7 Countries Medical Tourists Arrivals Share and Forecast in Asia (2008 – 2015)

7 Countries Medical Tourism Market Share and Forecast in Asia (2008 – 2015)

Number of Medical Tourists Arrival and Forecast in India (2008 – 2015)

Medical Tourism Market and Forecast in India (2008 – 2015)

Number of Medical Tourists Arrival and Forecast in Thailand (2008 – 2015)

Medical Tourism Market and Forecast in Thailand (2008 – 2015)

Number of Medical Tourists Arrival and Forecast in Singapore (2008 – 2015)

Medical Tourism Market and Forecast in Singapore (2008 – 2015)

Number of Medical Tourists Arrival and Forecast in Malaysia (2008 – 2015)

Medical Tourism Market and Forecast in Malaysia (2008 – 2015)

Number of Medical Tourists Arrival and Forecast in Philippines (2008 – 2015)

Medical Tourism Market and Forecast in Philippines (2008 – 2015)

Number of Medical Tourists Arrival and Forecast in South Korea (2008 – 2015)

Medical Tourism Market and Forecast in South Korea (2008 – 2015)

© Renub Research Page 4 of 18

Number of Medical Tourists Arrival and Forecast in Taiwan (2008 – 2015)

Medical Tourism Market and Forecast in Taiwan (2008 – 2015)

Driving Forces for Growth in Medical Tourism in each of the 7 countries

Challenges for the Medical Tourism in each of the 7 Countries

Data Sources

This report is built using data and information sourced from proprietary databases, primary and

secondary research and in-house analysis by Renub Research team of industry experts.

Primary sources include industry surveys and telephone interviews with industry experts. Such

as Interview with Head, Tourism Resource Centre, Singapore Tourism Board, Officials from

Department of Health Ministry of Taiwan

Secondary sources information and data has been collected from various printable and non-

printable sources like search engines, News websites, Government Websites, Trade Journals,

White papers, Government Agencies, Magazines, Newspapers, Trade associations, Books,

Industry Portals, Industry Associations and access to more than 500 paid databases.

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© Asia Medical Tourism Analysis and Forecast to 2015

Renub Research, 2012

Edition 1.0

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Table of Contents

1. Executive Summary

2. Why Medical Tourism is growing?

2.1 The Role of Cost and Quality

2.2 Proactive Role of Asian Governments

2.3 Information Access, ICT and Foreign Medical Patients

2.4 “Niche Medical Services” is Buzzword for Medical Tourism in Asian Countries

2.5 Type of Niche Services Offered By Different Countries

2.5.1 Malaysia

2.5.2 Philippines

2.5.3 South Korea

2.5.4 Thailand

2.5.5 Singapore

2.5.6 India

2.6 Accreditations

2.6.1 Joint Commission International (JCI)

2.6.2 Trent Accreditation Scheme (TAS)

2.6.3 International Organization for Standardization (ISO)

2.6.4 Regional Accreditation Organizations

3. Asia (7 Countries) Medical Tourism Market Overview

3.1 Asia Medical Tourism Arrivals and Forecast

3.2 Asia Medical Tourism Market & Forecast

4. Asia (7 Countries) Medical Tourist Arrivals Share, Medical Tourism Market Share & Forecast

4.1 Asia Medical Tourist Arrivals Share & Forecast

4.2 Asia Medical Tourism Market Share & Forecast

5. Asia (7 Countries) Medical Tourism Cost Analysis in Comparison to USA

5.1 Cardiac/Heart Surgery

5.2 Orthopedic Surgery

5.3 Dental Tourism/Treatment

5.4 Cosmetic/Plastic Surgery

© Renub Research Page 8 of 18

6. India Medical Tourism Overview

6.1 Medical Tourist Arrivals & Forecast

6.2 Medical Tourism Market & Forecas

6.3 India Medical Tourism Growth Drivers

6.3.1 India is the Mecca for all Treatment Options for Infertility

6.3.2 India Exempts Medical Tourists from New Visa Rules

6.3.3 Indian Heart Surgery is the finest in the World

6.4 India Medical Tourism Challenges

6.4.1 Indian Medical Tourism Catches Superbug

6.4.2 Kolkata's AMRI Hospital Disaster Tarnish India's Image as Medical Tourism Hub

7. Thailand Medical Tourism Overview

7.1 Medical Tourist Arrivals & Forecast

7.2 Medical Tourism Market & Forecast

7.3 Thailand Medical Tourism Growth Drivers

7.3.1 Thailand Offers Excellent Service in Medical Tourism

7.3.2 Thailand‟s Medical Technology is State-of-the-Art

7.3.3 Thailand Features Internationally Accredited Medical Facilities

7.3.4 Digital Marketing Campaign

7.3.5 Bloggers Invited for Thailand Medical Tourism Blog Contest

7.3.6 Tourism Authority of Thailand (TAT) Introduces „Amazing Thailand‟ Mobile Application

7.4 Thailand Medical Tourism Challenges

7.4.1 Political Unstable State

7.4.2 Thailand Tourism Sector Hit Hardest By the Floods

8. Singapore Medical Tourism Overview

8.1 Medical Tourist Arrivals & Forecast

8.2 Medical Tourism Market & Forecast

8.3 Singapore Medical Tourism Growth Drivers

8.3.1 Singapore Taps Asia's Rising Affluence Middle Class in Medical Tourism Boom

8.3.2 Singapore Caters to Middle East Medical Travelers with Arabic Version

8.3.3 SingaporeMedicine Becomes a New Face on Facebook

8.3.4 Singapore General Hospital (SGH) the First “MAGNET” Recognized Hospital in Asia

8.3.5 Building the Best Connexion

8.3.6 Accreditation & Accolades

© Renub Research Page 9 of 18

8.3.7 Strong Reputation and No language Barrier

8.4 Singapore Medical Tourism Challenges

8.4.1 Higher Charges than other Asian Countries

9. Malaysia Medical Tourism Overview

9.1 Medical Tourist Arrivals & Forecast

9.2 Medical Tourism Market & Forecast

9.3 Malaysia Medical Tourism Growth Drivers

9.3.1 Band of Aid by Malaysia's Government

9.3.2 Malaysia Medical Achievement - Brand Image

9.3.3 Accrediting Excellence

9.3.4 Fastest Growing Sectors is the Fertility Market in Malaysia‟s Medical Tourism

9.4 Malaysia Medical Tourism Challenges

9.4.1 Lack of Effective Marketing Strategy

9.4.2 Cross-Border Issues in the Development of Medical Tourism in Malaysia

10. Philippines Medical Tourism Overview

10.1 Medical Tourist Arrivals & Forecast

10.2 Medical Tourism Market & Forecast

10.3 Philippines Medical Tourism Growth Drivers

10.3.1 Philippines unique Medical Visas gaze for the Medical Tourists

10.3.2 Philippine Medical Treatment costs relative to USA costs

10.3.3 Strong Government Support

10.3.4 English Speaking Population

10.4 Philippines Medical Tourism Challenges

10.4.1 The Philippines: "Kidnap Capital of Asia"

10.4.2 Philippines Terrorist Threat Prompts Travel Warning

10.4.3 Least Number of JCI Accredited Hospitals Compared to Other Established Players

11. South Korea Medical Tourism Overview

11.1 Medical Tourist Arrivals & Forecast

11.2 Medical Tourism Market & Forecast

11.3 South Korea Medical Tourism Growth Drivers

11.3.1 South Korea Launches Medical Tourism Plan

11.3.2 Busan Becomes Hot Spot for Medical Tourism

© Renub Research Page 10 of 18

11.3.3 Jeju Island to be turned into Resort Style Medical Tourism Centre

11.3.4 Providing One-stop Service for Medical Tourism

11.3.5 Relaxed Foreign Ownership to Boost Medical Travel Industry

11.3.6 Korea‟s Local Governments Build Health Care Clusters to Attract Foreign Patients

11.3.7 Korean Medical Tourism Wave Ripple in Pact with Abu Dhabi

11.3.8 Strong Government Support

11.4 South Korea Medical Tourism Challenges

11.4.1 Language and Cultural Barrier

11.4.2 Malpractice Compensation

11.4.3 Foreigners Victims of Inflated Medical Fees

12. Taiwan Medical Tourism Overview

12.1 Medical Tourist Arrivals & Forecast

12.2 Medical Tourism Market & Forecast

12.3 Taiwan Medical Tourism Growth Drivers

12.3.1 Taiwan Launches Medical Services Application for Travelers

12.3.2 Taiwan to Promote Medical Tourism with Documentary Film

12.3.3 High Quality Health Care in Taiwan

12.3.4 USA Insurance Firm Coverage for Taiwan Hospitals

12.4 Taiwan Medical Tourism Challenges

12.4.1 Department of Health (DOH) Role in Medical Tourism

12.4.2 Medical Service Brand Image & Marketing Channel

12.4.3 Resource Limitations & Insufficient Effort of Promotion

© Renub Research Page 11 of 18

List of Figures

Figure 2-1: Three categories of Niche Services

Figure 2-2: Niche Services – Relationship between total Revenue & Risk in Procedures

Figure 2-3: Asia – Number of JCI Accredited Hospitals (Number), till August 30, 2012

Figure 3-1: Asia – Medical Tourism Arrivals (Number), 2008 – 2011

Figure 3-2: Asia – Forecast for Medical Tourism Arrivals (Number), 2012 – 2015

Figure 3-3: Asia – Medical Tourism Market (Million US$), 2008 – 2011

Figure 3-4: Asia – Forecast for Medical Tourism Market (Million US$), 2012 – 2015

Figure 4-1: Asia – Medical Tourist Arrivals Share (Percent), 2008 – 2011

Figure 4-2: Asia – Forecast for Medical Tourist Arrivals (Percent), 2012 – 2015

Figure 4-3: Asia – Medical Tourism Market Share (Percent), 2008 – 2011

Figure 4-4: Asia – Forecast for Medical Tourism Market Share (Percent), 2012 – 2015

Figure 6-1: India – Medical Tourist Arrivals (Number), 2007 – 2011

Figure 6-2: India – Forecast for Medical Tourist Arrivals (Number), 2012 – 2015

Figure 6-3: India – Medical Tourism Market (Million US$), 2006 – 2011

Figure 6-4: India – Forecast for Medical Tourism Market (Million US$), 2012 – 2015

Figure 7-1: Thailand – Medical Tourist Arrivals (Number), 2002 – 2011

Figure 7-2: Thailand – Forecast for Medical Tourist Arrivals (Number), 2012 – 2015

Figure 7-3: Thailand – Medical Tourism Market (Million US$), 2004 – 2011

Figure 7-4: Thailand – Forecast for Medical Tourism Market (Million US$), 2012 – 2015

Figure 7-5: ThailandMedTourism.com Website Screen Shot

Figure 7-6: Thailand – Medical Tourism Blog Contest, 2010

Figure 7-7: Thailand – Amazing Thailand Mobile Application

Figure 8-1: Singapore – Medical Tourist Arrivals (Number), 2002 – 2011

Figure 8-2: Singapore – Forecast for Medical Tourist Arrivals (Number), 2012 – 2015

Figure 8-3: Singapore – Medical Tourism Market (Million US$), 2002 – 2011

Figure 8-4: Singapore – Forecast for Medical Tourism Market (Million US$), 2012 – 2015

Figure 9-1: Malaysia – Medical Tourist Arrivals (Number), 2003 – 2011

Figure 9-2: Malaysia – Forecast for Medical Tourist Arrivals (Number), 2012 – 2015

Figure 9-3: Malaysia – Medical Tourism Market (Million US$), 2003 – 2011

Figure 9-4: Malaysia – Forecast for Medical Tourism Market (Million US$), 2012 – 2015

Figure 10-1: Philippines – Medical Tourist Arrivals (Number), 2007 – 2011

Figure 10-2: Philippines – Forecast for Medical Tourist Arrivals (Number), 2012 – 2015

Figure 10-3: Philippines – Medical Tourism Market (Million US$), 2007 – 2011

Figure 10-4: Philippines – Forecast for Medical Tourism Market (Million US$), 2012 – 2015

© Renub Research Page 12 of 18

Figure 10-5: Philippines – Comparison of English Speaking Population between India & Philippines

(Percent), 2008

Figure 10-6: Asia – Comparison of Number of JCI Accredited Hospitals in Philippines with other Asian

Countries (Number), till August 2012

Figure 11-1: South Korea – Medical Tourist Arrivals (Number), 2007 – 2011

Figure 11-2: South Korea – Forecast for Medical Tourist Arrivals (Number), 2012 – 2015

Figure 11-3: South Korea – Medical Tourism Market (Million US$), 2007 – 2011

Figure 11-4: South Korea – Forecast for Medical Tourism Market (Million US$), 2012 – 2015

Figure 11-5: South Korea – Government & Private Sector Investment in Healthcare Town of Jeju Free

International City Development Center (Million US$ & Percent), 2009

Figure 12-1: Taiwan – Medical Tourist Arrivals (Number), 2008 – 2011

Figure 12-2: Taiwan – Forecast for Medical Tourist Arrivals (Number), 2012 – 2015

Figure 12-3: Taiwan – Medical Tourism Market (Million US$), 2008 – 2011

Figure 12-4: Taiwan – Forecast for Medical Tourism Market (Million US$), 2012 – 2015

© Renub Research Page 13 of 18

List of Tables

Table 2-1: Asia – Cost Comparison of Some Major Procedure (US$), 2011

Table 2-2: Global – Internet Usage & Population Statistics, 2011

Table 2-3: Asia – Summary of Niche Services in Different Countries

Table 5-1: Asia – Cost Comparison of Cardiac Surgery (US$), 2011

Table 5-2: Asia – Cost Comparison of Orthopedic Surgery (US$), 2011

Table 5-3: Asia – Cost Comparison of Dental Treatments (US$), 2011

Table 5-4: Asia – Cost Comparison of Cosmetic Surgery (US$), 2011

Table 6-1: Worldwide – Cost Comparison of In-Vitro Fertilization (US$), 2008 – 2009

Table 6-2: India – Cost Comparison of Cardiac Surgery (US$), 2011

Table 6-3: Death Toll in AMRI Hospital (Number), 2011

Table 7-1: Thailand – JCI Accreditated Hospitals, 2012

Table 7-2: Thailand – CCPC Certificate Hospitals, 2012

Table 8-1: Singapore – Cost Comparison of Medical Procedures (US$), 2011

Table 9-1: Malaysia – JCI Accredited Hospitals, 2011

Table 9-2: Malaysia – MSQH Accredited Hospitals, 2011

Table 9-3: Worldwide – Cost Comparison of In-Vitro Fertilization (US$), 2008 – 2009

Table 10-1: Philippines – Cost Comparison of Major Medical Procedures (US$), 2011

Table 11-1: South Korea – Agreement Hospitals Name

Table 11-2: South Korea – Price List for Foreign Patients (US$)

Table 12-1: Taiwan – Agreement between American Insurance Company & Taiwan Hospitals, 2011

© Renub Research Page 14 of 18

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