Albany, NY -- (SBWIRE) -- 11/24/2014 -- Medical tourism is now a popular term globally and it has whole new different meaning to different countries.

For Americans it means saving on medical expenses. Here the lower income group or middle income group not covered with medical insurance goes for medical tourism.

For Canadians and Europeans it means a saving as well as getting rid of long waiting line in government hospitals. In these countries middle income group also goes for medical tourism; who do not want to wait endlessly for their turn in government hospital.

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For Africans it means a better healthcare facility which is not available in their country. In Africa rich/affluent and upper middle class families opts for medical tourism. Compared to western countries Asian tourist countries medical expenses costs less, which makes a ideal choice for them.

For Middle East citizens it is specialist medical treatment; which is not available in their country. In Middle East middle class and rich class citizens opts for medical tourism. Earlier Middle East citizens opt to western countries for medical treatment, but after 9/11 due to tightening of visa regime in western countries. Middle East people have started to travel Asian countries for Medical treatment.
In Asian countries, Thailand and Singapore are the two countries that receive maximum medical tourists owing to the quality healthcare infrastructure, minimal or no waiting time and availability of highly–skilled doctors. These two countries together accounted for over 60 percent of the total Asian medical tourist arrivals in 2013. In terms of medical tourism spending Thailand is the leader as its share in Asian medical tourism market followed by India in second position.

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This is 3nd edition report on Asia Medical Tourism by Renub Research. Report titled "Asia Medical Tourism Analysis & Forecast” provides a comprehensive analysis of the Asia medical tourism market covering in detail various aspects such as Medical Tourists’ Arrival and Medical Tourists Market (spending) in Top 5 Asian Countries.

The Top 5 Countries covered in the report are as follows
Singapore (16 Countries Covered)
Thailand (15 Countries Covered)
South Korea (14 Countries Covered)
Malaysia (20 Countries Covered)
India (63 Countries Covered)
This 526 page report with 533 Figures and 7 Tables provides a complete analysis of top 5 countries in terms of medical treatment. All the 5 countries in the report have been studied from 2 viewpoints.

I. Medical Tourists Arrivals from the year 2004 – 2018

II. Medical Tourism Market (Spending) from the year 2009 – 2018

All the 5 countries in the report cover medical tourist’s arrivals and medical tourism market (spending) from different countries.

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Medical Tourism Market (India, Thailand, Singapore, Malaysia, Mexico, Brazil, Taiwan, Turkey, South Korea, Costa Rica, Poland, Dubai And Philippines) - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2019

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Rise in healthcare costs in developed countries coupled with the availability of high quality medical services at lower prices in developing nations has primarily surged the expansion of the medical tourism industry. Moreover, rise in elderly population along with growing number of uninsured population has further triggered the market growth. Patients are travelling abroad not only for cosmetic surgeries with a quick recovery, but also for sophisticated cardiovascular surgeries. Many countries plan to leverage medical tourism as a strategy to boost their healthcare services and tourism industry. By encouraging its presence in the medical tourism market, a country can stimulate its economic growth and create employment opportunities. Consequently, the medical tourism industry is rapidly expanding and is anticipated to have a significant growth in the near future.

Medical tourism is a direct result of globalization of healthcare. There is an emerging opportunity for Asian and Middle Eastern countries that are catering to the healthcare requirements of developed countries like the U.S, Canada and European countries. Factors such as medical specializations, geographic proximity, portability of health insurance, and reputation of the country are some of the main reasons that compel the patient to move to another destination. However, factors such as problem in follow-up care, medical malpractice and others could restrain the growth of this market.

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The research report on the global medical tourism market helps in understanding the prominent forces responsible for the growth of this industry. In addition, the current market dynamics including drivers, restraints, trends, and developments are covered throughout the report. The research report provides in-depth analysis of the geographies facilitating inbound medical services that include India, Thailand, Singapore, Malaysia, Mexico, Brazil, Turkey, Taiwan, South Korea and prospective countries. Market size estimates and forecast for the period 2011 to 2019 has been given for each of the segments, in terms of USD million, using 2011 as a base year.

Medical Tourism Market Report: 2014 Edition
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Medical treatment abroad, also called ‘medical tourism’, is a booming international industry where patients seek healthcare services from sources outside their country. Usually every type of medical treatment is available abroad with over 50 countries identifying as destinations in medical tourism. Medical tourism is a high-value sector that generates revenue for multiple industries. Given the lucrative potential fees, more governments are dedicating resources to boost the sector in their respective countries.

Medical tourists are presently traveling to faraway countries for cosmetic surgery, dental procedures, bariatric surgery, assisted reproductive technology, ophthalmologic care, orthopaedic surgery, cardiac surgery, organ and cellular transplantation, gender reassignment procedures, and even executive health evaluations.

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The report cites that rise in healthcare costs, long wait times, an ageing population, and increasing demand for cosmetic and dental surgery not covered by insurance in developed countries, coupled with the availability of high quality, low cost medical services in developing countries are the key drivers for the rise in medical tourism industry. Patients travelling abroad can save upto 85% of the cost of a procedure by travelling abroad. The world’s top four medical tourism destinations: Thailand, Singapore, India and Malaysia are seeing a steady increase in medical tourists every year. India is one of the lowest cost and highest quality medical tourism destination. It offers low-cost cardiovascular and orthopedic procedures, at about one-tenth the cost of similar surgeries in the US.

The report “Medical Tourism Market: 2014 Edition” analyzes the development of the medical tourism market globally. The global market as well as emerging markets including Thailand, Singapore, Malaysia, India, Korea and Turkey are being discussed in the report. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The five major players in the industry, Bumrungrad Hospital Public Company Limited, IHH Healthcare Berhad, Raffles Medical Group, Bangkok Dusit Medical Services and KPJ Healthcare Berhad, are being profiled, along with their key financials and strategies for growth.

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