Medical Tourism: The New Billion Dollar Industry
Reasons driving Medical Tourism
One of the major reasons driving this tourism industry is the high cost of healthcare in developed countries. The cost of surgery, advanced diagnostic tests and other medical procedures is rising exponentially in countries like the United States. At the same time, many developing countries are emerging as popular medical tourism destinations where the cost of treatment is just a fraction when compared to Western nations. India, Thailand, Mexico and other countries have world-class hospitals and highly experienced doctors offering treatments at 50-80% lower prices than in the US or Western Europe.
Affordability of procedures and quicker access to healthcare are also big incentives. In their home countries, patients often face long waiting periods to see a specialist or undergo elective surgeries. At major Medical Tourism facilities, treatment times are much shorter and patients can access care in a timely manner without waiting on long queues. Many procedures that are elective or deemed non-essential in some systems can be accessed right away when travelling abroad.
Another driver is the availability of advanced treatments. While developing nations offer tremendous cost savings, the quality of care has also improved significantly over the years. Top hospitals in medical tourism hubs rival those in Western countries in terms of infrastructure, technology and expertise. Many now offer advanced procedures such as joint replacements, cardiac surgeries, IVF treatments, dental treatments and cosmetic surgeries that were previously only available in the United States or Western Europe. This wider access to state-of-the-art treatments draws patients to travel abroad for medical care.
This tourism has evolved into a major component of the global health industry. Facilitated by affordable costs, advanced treatments and effective regulations, it delivers mutual benefits for patients and suppliers worldwide. With continued investments in quality standards and strategic innovation, the sector is positioned for ongoing expansion in the years ahead.
Get more insights on Medical Tourism
English
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian