The medical tourism association ® is always striving to educate and promote awareness throughout the industry the information and research gained from conducting research and surveys significantly increases awareness in medical tourism through our findings and current information. This is the 2nd edition report on singapore medical tourism industry by igate research the report titled “singapore medical tourism market and forecast to 2022” provides a comprehensive analysis of the top 16 source market for singapore medical tourism. A striking feature of the medical tourist industry that has developed in asia since the late 1990s is the involvement of states in supporting the private sector in marketing healthcare services to foreign patients malaysia and singapore, two of the leading players in this field, have, since the.
Medical tourism is undeniably a high growth industry, and patients travelling to destinations with reasonable affordability and accessibility to healthcare will become common singapore, india and thailand are the top three destinations for the asian medical tourism market, with a combined market share of more than 93% in 2012 according to. Get the latest industry updates via our tourism product update sessions and industry briefings singapore mice events view the latest mice events being organised in singapore. Over the years, the singapore tourism board (stb) has worked closely with private healthcare providers to expand their reach in key target markets and profile singapore as an advanced medical care destination.
Southeast asia’s medical tourism industry has experienced rampant growth in the recent years driven by quality healthcare delivery services, competitive rates and reputable medical expertise among the popular destinations in asean (association of southeast asian nations) for medical tourism are thailand, singapore and malaysia. As developing nations are increasingly heading toward technological advancement and quality services in the medical and healthcare sector, the global medical tourism market is anticipated to witness robust growth over 2014-2020, predominantly in asian countries. Medical tourism in thailand is growing at a yearly rate of 16%, while in financial terms the foreign medical services sector is expected to make a whopping 100 billion baht by 2015. Singapore may still be among the region's top dogs when it comes to medical tourism, but its neighbours are swiftly closing the gap lower costs and the growing availability of quality care in. The medical tourism industry is emerging due to rise in healthcare expenditure in developed countries coupled with the availability of cost effective treatments in developing countries the dentistry, cosmetology, orthopedics and cardiology are the few of the highly contributing medical treatment for medical tourism market in 2016.
The report is titled medical tourism market (india, thailand, singapore, malaysia, mexico, brazil, taiwan, turkey, south korea, costa rica, poland, dubai and philippines) - global industry. The asia medical tourism market is anticipated to grow with a double digit cagr during the period 2015 to 2020 thailand holds the highest market share in the asia medical tourism market thailand. The singapore medical tourism industry is going through a phenomenal growth phase, offering immense opportunities for players involved in the business after the global economic downturn in 2009, the market is growing exceptionally in each and every field of medical treatments. L hospitals in singapore charge $18,000 and hospitals in india charge only $12,000 for a knee in the united states in 2006, the medical tourism industry grossed about $60 billion worldwide mckinsey & com-pany estimates this total will rise to $100 billion by 2012 medical tourism: global competition in health care . The popularity of singapore medical tourism can be attributed to a couple of factors one of these is the presence of a robust medical infrastructure and a world-class airport an integrated singapore healthcare system is yet another reason why it has witnessed a huge influx of foreign medical tourists.
Singapore’s status as one of the world’s freest economies, as well as a highly developed nation, has made it a medical tourism hub for both asians and westerners for years cancer treatment is a top speciality there. With medical tourism still in its early stages, gaining reliable data is challenging our research and editorial team works hard to compile the most accurate, current information on international medical travel, global healthcare, and the international patient experience. Singapore was a leading medical tourism destination with ambitious plans for expansion rising costs and lack of transparency in private hospital fees have brought a decline a decade ago singapore was a leading medical tourism destination with ambitious plans for expansion. The medical tourism industry is watching the gmu program with great interest 4 the search for new medical travel “hot spots” goes on (malaysia instead of singapore, india instead of thailand, etc) 5 responses to 7 medical tourism trends to watch in 2016.
10 executive summary the medical tourism industry is in a rapid state of growth, both in singapore and globally growth in consumer demand for health services delivered by foreign medical professionals continues to grow for a variety of reasons, including insufficient regional health care systems and the growing expense of performing domestic procedures in their countries of origin. The global medical tourism market is driven by affordability and accessibility of good quality healthcare services along with assistance from tourism departments and local governments in addition, availability of latest medical technologies in medical tourism hubs, throughout the world, is expected to fuel the market growth. In a just released report issued by visa and oxford economics, the medical tourism industry was projected to growth up to 25% year-over-year for the next 10 years as an estimated three to four percent of the world’s population will travel internationally for healthcare and health-related treatment.
Southeast asia is a well-known medical tourism destination yet few realise it is regional patients, not those from outside, driving the industry every year, indonesians leave their country in droves to access basic medical services they can’t find in their own country according to media reports. Singapore attracts hundreds of thousands of medical tourists per year, according to exit surveys conducted on tourists by the singapore tourism board singapore's international patients are mostly from asian countries such as indonesia, malaysia, philippines, uae and china. In 2011, singapore medical tourism attracted 30% of the people who went abroad for medical tourism key strengths of the country for medical tourism - singapore is a developed country and you will find a wide range of health care services here.