India amongst top 5 globally and 2nd in Asia for Medical Tourism

India currently ranks 5th on the Medical Tourism Index globally and 2nd in Asia as per the International Healthcare and Research Centre statistics. This portrays a potential opportunity for India in becoming a future leader in medical tourism given the fact that it focuses on building infrastructure, technology & services, and a seamless experience for buyers. The increase in competition globally calls for a strong branding mechanism in place, highlighted Jonathan Edelheit, CEO, Medical Tourism Association, USA while speaking to TravelBiz Monitor at the World Medical Tourism Congress held from March 7-8, 2017 at Crowne Plaza, Greater Noida.

“Though the Indian government is taking steps in building India as a preferred medical tourism destination, it can also play a vital role in implementing accreditation by creating standards and streamline processes so that it is a delightful experience from the moment the buyer steps in India till he leaves,” he said.

He goes on to add that India is pretty advanced on the medical tourism front. Today more of insurance companies and employers are adopting medical tourism and institutionalising the sector which paves way for future growth. However, its global perception has dropped a bit in the last few years with the safety concerns doing the rounds. Here, the public and the private sector need to go hand in hand and reach out to the global markets and connect with a strong branding in place, added Edelheit.

The major inbound source markets for India for medical tourism include Africa and the Middle East. The secondary markets comprise the Commonwealth of Independent States (CIS) countries such as Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Uzbekistan, etc. Edelheit asserted that India can also explore the new market of the United States of America (USA) along with a deeper and stronger penetration in Middle East and Africa.

Malaysia Medical Tourism to reach $3.5billion by 2024

A new report forecasts the Malaysia medical tourism market to grow at a compounding annual growth rate (CAGR) of 30.05 per cent over the next eight years, reaching some US$3.5 billion before the end of 2024.

According to Transparency Market Research (TMR), ‘persistent government activities synergizing the medical tourism industry and lower cost of medical services compared to their counterparts in developed nations are boosting the Malaysia medical tourism sector’.

In short, the Malaysia medical tourism sector is booming. Partly due to the increasing influx of medical tourists from the Middle East and North Africa (MENA) region and neighboring countries, and partly due to various macro-economic factors, such as tax exemptions on revenue generated from foreign patients.

According to TMR additional factors such as a low language barrier, the presence of sophisticated healthcare infrastructure, excellent transport and recuperation facilities will continue driving opportunities in the Malaysia medical tourism sector for many years to come.

Dentistry, Cosmetic, Orthopedic Biggest Earners in 2016
TMR forecast the Malaysia medical tourism sector to grow at a CAGR of 30.5 per cent between 2016-2024
TMR
TMR forecast the Malaysia medical tourism sector to grow at a CAGR of 30.5 per cent between 2016-2024
Identified as one of the 12 national key economic areas for development, the Malaysia government is taking proactive steps to help foster Malaysia medical tourism. Among other things it has established the Malaysia healthcare travel council (MHTC) to support foreign patients and their families.

The $5,795 single user licence TMR report notes that while the majority of Malaysia medical tourism visitors originated from neighbouring Indonesia in 2016, there was an increasing number of medical travelers from India, China, Nepal, Iran, Libya, Australia, the US, and the UK.

The TMR report also notes that the availability of full halal medical services is particularly attractive to visitors from Muslim countries where medical services are not as good, or more expensive.
For 2016 the TMR report notes that dental treatment was the largest earner by type of procedure, accounting for 36 per cent of Malaysia medical tourism visitors and generating some US$99.91 million. Aesthetics/cosmetic surgery came in second, followed by orthopedic treatment, and health screening/ medical checks. The four areas combined accounted for more than 70 per cent of the total Malaysia medical tourism sector in 2016.

Malaysia Healthcare System the World’s Best
The release of the TRM report follows International Living listing the Malaysia healthcare system as the best in the world for people looking to retire overseas. In ‘4 Countries With The Best Healthcare In The World‘ published in January Malaysia ranks number one ahead of Costa Rica, Colombia and Mexico, ranked second, third and fourth, respectively.

The listing says ‘medical tourists arriving in Malaysia have increased on average by 100 per cent in the last five years, the report states the Malaysia medical tourism sector attracted more than one million people in 2016.

Among what makes the Malaysia medical tourism sector so attractive, the report states, is that ‘Malaysia has some of the best-trained doctors in Asia–and the majority of them were trained in the US, Australia, or the UK. All of them speak English too, and that takes a lot of the stress away from what is already a stressful situation’, the report states.
The report also highlights that Malaysia has eight hospitals (now 14) with Joint Commission International (JCI) certification – considered the gold standard for healthcare service providers around the world. In addition to the high-end, International Living also notes that there are ‘some very good “not for profit” hospitals here too’.

While neighbouring Thailand, which also bills itself as a medical tourism hub has 56 JCI accredited facilities, in International Living‘s ‘2017 Annual Global Retirement Index’ it finished well below Malaysia for both desirability and healthcare facilities.

Whereas Malaysia finished sixth most desirable location and number one for healthcare with a score of 97, Thailand finished in 12th position, with it’s healthcare facilities scoring 89 points; equivalent to that scored by Spain, Uruguay, the Philippines, and Panama

Top 10 hospitals for Medical Tourists in 2017

Ranking of the 10 best hospitals for medical tourists 2017

1. Germany, Hamburg: Asklepios Klinik Barmbek

2. Lebanon, Beirut: Clemenceau Medical Center

3. India, Bangalore: Fortis Hospital Bannerghatta

4. Singapore: Gleneagles Hospital

5. Malaysia, Kuala Lumpur: Prince Court Medical Center

6. Canada, Toronto: Shouldice Hospital

7. Jordan, Amman: The Speciality Hospital

8. Thailand, Bangkok: Samitivej Hospital

9. Mexico, Monterrey: Christus Muguerza Super Speciality Hospital

10. Turkey, Istanbul: Anadolu Medical Center

Croatia to Invest 400 million Euro for Medical Tourism

The 7th HTI Conference in Croatia saw 500 participants from 60 countries.Croatian Minister of Tourism Gari Cappelli said draft prepared  for strategy for Croatian Tourism Development by 2020 list Health Tourism as one of the agenda for growth.Croatia is a popular European destination.HTI conference is one of the largest European Medical Tourism Event.There were also present  the representatives from European commission,European Parliament and European Travel Commission.Croatian chamber of commerce,Ministry of Tourism and Ministry of Health.

Jordan completes two day Medical Tourism conference

Deputising for His Majesty King Abdullah, Prime Minister Hani Mulqi Saturday opened the Global Healthcare Travel Forum under the theme “Globalization of Healthcare”, which is organised by the Private Hospitals Association in cooperation with the Global Healthcare Travel Council (GHTC), currently headed by Jordan.

The opening ceremony was attended by HH Princess Ghaida Talal, chairperson of the King Hussein Cancer Foundation, and HH Princess Dina Mired, President of the Union for International Cancer Control, as well as ministers, parliament members, heads of diplomatic missions and hospital directors.

The three-day gathering of more than 500 sector representatives from about 40 countries aims to highlight Jordan as a premium global healthcare travel hub and a key destination for many Arab and foreign nationals.

In opening remarks, Mulki conveyed the King’s wishes to the conference to achieve the aspired-for goals, stressing medical tourism, not only as a healthcare sector, but a key contributor to the national economy and to many other sectors.

He said the Kingdom had built an integrated healthcare system, which was second to none, through investment in national human resources and continued cooperation between the Health Ministry, Royal Medical Services and university and private hospitals. Over the last decades, Mulki pointed out, the Kingdom had become a role model with tremendous achievements in the various sectors, namely healthcare, which had made major leaps despite limited resources and the difficult conditions in the region.

Jordan, he said, had maintained its stability and resilience as it weathered the wars and catastrophes surrounding it, forged ahead with comprehensive political, economic and social reforms and made long strides to become a bright spot that won it admiration by all.

The prime minister commended the “noble services by our doctors and hospitals to Jordanian and Arab and foreign patients”, and hailed the Private Hospitals Association for marketing the Kingdom as a distinguished healthcare and medical travel destination at global forums.

He pledged to take down all barriers and take various measures to promote the country’s healthcare status, support investment, expand the health sector and sign international agreements in that respect in order to build on achievements. HH Princess Ghaida said that, thanks to its Hashemite leadership’s vision of development and modernisation, Jordan had become a leading healthcare model, stressing the need to upgrade medical service to patients and maintain excellence.

She said that the Al Hussein Cancer Centre had in 15 years gained the most important international accreditations as a specialised cancer treatment facility offering treatment to patients from Jordan and Arab countries according to the highest international standards.

Minister of Health Mahmoud Sheyab said the health sector, which had the direct support of His Majesty King Abdullah, had in the last years made quantum leaps that gained it its reputation at the local, regional and international levels. He noted the highly-qualified human resources, internationally-accredited hospitals and medical centres and their low-cost treatment.

The minister said the medical accountability legislation is in the process for endorsement by parliament.

Private Hospital Association and GHTC president, Fawzi Al-Hammouri, said healthcare travel is a key economic sector, noting that studies pointed that medical tourism around the world accounts for over $100 billion annually with a growth rate of 5 per cent, which prompted more world nations to endeavour to become healthcare destinations.

“We look through hosting and organising this forum in Amman to put the spotlight on the enormous potentials and the many qualities of the Jordanian medical sector”, said Hamouri, noting the Kingdom’s qualified medical and nursing cadres and its friendly investment climate which encourages investment in the private hospital sector, which accounts for 60 per cent of the county’s hospitals.

The Global Healthcare Travel Forum’s agenda includes a host of topics, including global medical tourism destinations, legislations, regulations and accreditation, buyers and patients perspective, excellence in medical care and medical tourism education and research, medical tourism marketing and branding and expanding the scope of healthcare travel.

http://www.worldmedicaltour.com/

South Korea Medical Tourism Market to reach $2 billion

South Korea Medical Tourism Market is likely to reach nearly USD 2 Billion by the year end of 2022 growing at a CAGR of around 15% from 2017 to 2022.

Market growth can be attributed to factors such as technologically advanced treatments and medical procedures, pioneer in plastic/cosmetic surgery and dentistry, excellent medical practitioners & medical facilities, affordable medical costs and strong government support and initiatives.

Chinese medical tourists play a significant role in contributing revenue to the South Korea economy. China contributed more than 35% share in 2016. China is likely to maintain dominance in South Korea Medical Tourism revenue share by the year end of 2022. Other countries such as Japan, Russia, Kazakhstan and UAE emerge as the largest revenue generators in the South Korea Medical Tourism Market.

http://www.worldmedicaltour.com/