Medical tourism is a rapidly growing industry that involves traveling to another country for medical treatment. It has become increasingly popular in recent years, thanks to several market drivers that have contributed to its growth. In this article, we will explore these market drivers and understand why they are important for the growth of medical tourism.
Market Drivers for Medical Tourism
1. Cost Savings
One of the primary reasons why people choose medical tourism is cost savings. Medical procedures in developed countries like the United States can be very expensive, and not everyone can afford them.
On the other hand, many developing countries offer high-quality medical treatment at a fraction of the cost. This is especially true in countries like India, Thailand, and Malaysia.
Example: According to a study by Patients Beyond Borders, patients can save up to 90% on medical procedures by opting for medical tourism.
2. Availability of Advanced Medical Procedures
Another reason why people choose medical tourism is the availability of advanced medical procedures that may not be available in their home country. Many countries specialize in certain types of treatments or surgeries and are known for their expertise in those areas. For example, India is known for its expertise in cardiac surgery, while Thailand is known for its expertise in cosmetic surgery.
Example: The Apollo Hospitals Group in India offers some of the most advanced treatments and surgeries such as robotic surgery, proton therapy for cancer treatment, and stem cell therapy.
3. Shorter Wait Times
In some cases, patients may have to wait several weeks or even months to get an appointment with a specialist or undergo surgery in their home country’s healthcare system. This can be particularly frustrating if the patient’s condition requires urgent attention. Medical tourism offers patients the option to bypass long waiting times and receive immediate treatment.
Example: A patient in the UK may have to wait up to 18 weeks for non-urgent surgery, while a patient in India can get the same procedure done within a week.
4. Combination of Medical Treatment and Vacation
Medical tourism also offers patients the opportunity to combine medical treatment with a vacation. Patients can opt for medical procedures and then spend their recovery time exploring the country they are visiting. This is particularly appealing for patients who need to undergo lengthy procedures or surgeries that require extended recovery periods.
Example: Patients recuperating from surgeries in Thailand can relax on beautiful beaches or immerse themselves in the country’s rich culture and history.
Conclusion
In conclusion, medical tourism has become popular due to several market drivers such as cost savings, availability of advanced medical procedures, shorter wait times, and combination of medical treatment and vacation. Patients should always do their research before opting for medical tourism and ensure that they choose reputable hospitals and doctors. With proper planning and research, medical tourism can be a viable option for those seeking high-quality medical treatment at an affordable price.