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Trends, Growth, Opportunity Analysis of Medical Tourism in Thailand
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In-depth Look at Demand Forecast for Medical Tourism in Thailand by Cosmetic and Cardiovascular Treatment through 2034
Medical Tourism Viewed as a Cash Cow in Thailand! FMI Pins Down Opportunities for Players in Thailand’s Wellness Retreat Hub and Medical Tourism Sector
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Thailand Medical Tourism Industry Outlook 2024 to 2034
In the updated research report, FMI analyzed the demand for medical tourism in Thailand to be US$ 15,378.00 million in 2024. Factors like high standards for medical care, reasonable fees, quality treatments, and affordable cost of living for long-stayers make Thailand a popular choice for medical tourists.
With favorable medical visa and constant government support, key players can anticipate sales from medical tourism in Thailand to exceed US$ 66,104.90 million figure by 2034.
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Megatrends Making Thailand a Top Destination for Medical Tourists
- Tourists save large sums of money when it comes to medical expenses incurred in Thailand, even if they include their travel expenses. This is inducing the patient population to travel to Thailand for medical treatment.
- Foreigners enjoy quick access to medical care in the kingdom. They can easily visit any accredited Thai hospital, even if they do not carry special documentation, without any worry.
- Thai government has simplified the visa process for medical tourists to attract large crowds of medical patients from across the globe. Patients that require long-term treatment can also avail a one-year medical visa.
- Thailand healthcare facilities are globally known for their strict hygiene standards. Additionally, the country is enthusiastic about innovation, which is why it is funding several medical research institutions.
- Short waiting times for healthcare services in Thailand are an appealing point for foreigners visiting for treatments. Foreign patients can go for walk-in appointments, and enjoy access to online healthcare services and hospital booking systems, just like Thai citizens.
- Thailand boasts of international hospitals that are situated in tourist cities and have multilingual staff. Since these hospitals are well-equipped to treat patients of cardiovascular disorders, cancer, etc. and perform high-quality cosmetic surgery, patients are flocking to the country.
- Hospitals in Thailand offer a variety of medical treatment packages that help patients save their money on medical procedures.
- The rich cultural heritage and beautiful scenery of Thailand offer medical tourists an effective way to recoup from surgery.
Overview of Markets Adjacent to the Thailand Medical Tourism Industry
Medical travel is increasing in Thailand, as government is consistently introducing incentives to attract medical tourists to the country. Similar patterns are detected in countries like the United Kingdom and China, where patient population is increasingly traveling for medical treatments.
Tour operators in these countries are building relationship with the hospitality sector to promote high-class services to their clients. Further, high standard of medical treatments is also boosting confidence among people to get treated abroad.
Thailand Medical Tourism Industry:
The United Kingdom Medical Tourism Industry:
China Medical Tourism Industry:
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Category-wise Thailand Medical Tourism Industry Analysis
International travelers constitute large consumers of medical services in thailand.
International tourists account for 63% value share in 2024. International travelers are flocking to Thailand to enjoy affordable treatment options. Visiting medical tourists from developed countries also benefit from the favorable currency exchange rates.
Medical tourists are also choosing Thailand for its exceptional hospitality services. The climate of Thailand offers a relaxing stay after a surgical procedure. The top-notch facilities and highly qualified experts in Thailand make it a popular choice among international tourists, thus influencing the adoption trends
Medical Reasons Motivate Age Group of People Aged 46-55 Years to Avail Medical Tourism Services of Thailand
Geriatric popular are susceptible to various diseases, chronic pain , or illnesses. This population base is more likely to pursue medical treatments for their illnesses, diseases, or joint problems. In case, the treatment costs in their homeland are out of their pocket, people prefer to travel abroad to get treated.
Strategies Implemented by Players in Thailand Medical Tourism Sector to Attract More Medical Tourists
Key players can work on branding the medical tourism of Thailand in the global industry by highlighting the expertise of Thailand’ healthcare industry in certain treatments. Other than that, competitors are using soft power to induce interest among foreigners to visit Thailand for affordable and high-quality medical treatments.
Principal players are forming alliances with players in different business sectors like hotels, airlines, rehabilitation centers, insurance companies, spas, and tour operators, to provide comprehensive medical tourism packages to their customers. A key benefit of this strategy is that players can reach more tourists by promoting their value-for-money packages.
The healthcare sector in Thailand is constantly upgrading its service quality and advancing its treatment procedures to maintain its position in the global industry. Players can emphasize this aspect while selling packages.
Another such progress is the use of HealthTech in the medical center, as it leads to convenience and efficiency in providing medical services. This aspect of the medical sector in Thailand is acting as a selling point for industry participants.
News Coverage
- In February 2024, Thailand released a medical coverage scheme. This campaign offers $ 14,000 to foreign tourists in case of accidents and over one million baht in case of death, all in good faith to increase confidence in travel safety.
- In December 2022, the Public Health Ministry introduced the “Health for Wealth” concept to promote medical tourism. This initiative is aimed at strengthening the country’s economic state.
- In November 2022, the Cabinet approved a 90-day stay permit for people seeking medical treatment. Additionally, Thailand announced that it will be issuing one-year visas to medical tourists, as the country represents itself as a global hub for healthcare tourism.
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Key Coverage in the Thailand Medical Tourism Industry Research Report
- Overview of Medical Travel Industry
- Thailand Medical Tourism Industry Opportunities
Top Companies in the Thailand Medical Tourism Industry
- Jet Medical Tourism
- TMI Medical Tourism (Tour My India Pvt. Ltd.)
- Lotus Medical International
- World Medical and Surgical LLC
- MedEx Ventures Co. Ltd.
- Lyfboat Technologies Pvt. Ltd.
- Medical Electronic Devices and Services Inc.
- Health-Tourism.com
- Smile Planners
- Health Tour Booking (Easy Golf Booking Company Limited)
- Asia Cosmetic Getaways
- Med Tourism Co, LLC
- Thai Medical Vacation
- My Body & Spirit
- Bookimed Limited
Thailand Medical Tourism Industry by Categories
Multiple medical treatment types available in thailand:.
- Dental Treatment
- Cosmetic Treatment
- Cardiovascular Treatment
- Orthopedic Treatment
- Neurological Treatment
- Cancer Treatment
- Fertility Treatment
Different Services Offered in Thailand:
- Wellness Services
- Therapeutic Services
Type of Tourists Visiting Thailand:
- International
Various Tour Types Popular Among Customers:
- Independent Traveller
- Package Traveller
Orientation of Consumer Opting for Medical Tourism Services in Thailand:
Segregation of visitors based on different age groups:.
- 15-25 Years
- 26-35 Years
- 36-45 Years
- 46-55 Years
- 66-75 Years
Different Booking Channels Available for Medical Tourism Packages:
- Phone Booking
- Online Booking
- In-Person Booking
Frequently Asked Questions
What is the sales valuation of medical tourism in thailand as of 2024.
The medical tourism sector of Thailand is nearly US$ 15,378.00 million valuation in 2024.
What is the Demand Forecast for Thailand Medical Tourism for the Years Between 2024 to 2034?
The demand growth of medical tourism in Thailand is going to increase at a 15.70% CAGR through 2034.
How Much Revenue this Industry is Expected to Generate by 2034?
The medical tourism sector of Thailand is likely to reach US$ 66,104.90 million figure by 2034.
Which Age Group Forms the Substantial Consumer Base for Medical Tourism Services of Thailand?
People between 46-55 years are the frequent consumers of Thailand’s medical tourism.
Which Players in the Thailand Medical Tourism Industry are Influential?
Lotus Medical International, World Medical and Surgical LLC, and MedEx Ventures Co. Ltd. are promising participants in the Thailand medical tourism industry.
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Key Trends in Thailand’s Medical Tourism Market
For the past decade, Thailand has been a top destination for medical tourists. It has become increasingly common for consumers to cross borders for medical services. One of the countries with the highest influx of medical tourists in the world is Thailand. In 2019, it scored 66.83 in the worldwide medical tourism market index.
In an effort to curb the spread of the COVID-19 pandemic, Thailand closed its borders for most of 2020 and 2021. The country was successful in dealing with the pandemic, and after rolling out nationwide vaccination programs, it opened its borders late in 2021 and promptly positioned itself as a top medical tourism destination once again.
How has Thailand managed to become the region’s top medical tourism destination, and how can they develop this market to accelerate its growth in the post-pandemic world? We look at the current trends and opportunities based on the statistics of medical tourism in Thailand.
Why is Thailand popular for medical tourism?
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Thailand is known for having affordable yet advanced healthcare services, which draws many medical tourists to the country. Compared to its Southeast Asian neighbors, healthcare institutions in Thailand highly prioritize certifications, high-quality equipment, and training for professionals. They also offer universal healthcare that provides coverage to most of the population.
In 2019, Thailand’s medical tourism market drew more than 600,000 inbound tourists, logging a value of 1.8 billion US dollars. It is projected that this value will rise to 9.9 billion by 2023 and increase further to 24.4 billion by 2027.
Treatments that medical tourists go to Thailand for range from major surgeries like heart bypass and hip replacements to dental and cosmetic work. In October 2021, as the country reopened to tourists, hospitals and medical institutions introduced COVID-19 recovery units and quarantine resorts in Bangkok as part of their plans to revive the medical tourism industry.
Thailand’s medical tourism market has maintained a competitive edge over Singapore, another popular destination for medical tourists in Southeast Asia. Treatment costs as well as travel expenses are cheaper in Bangkok, which helps the country draw more tourists every year.
Moreover, the hospitality industry in Thailand is also highly developed, offering tourists many interesting destinations prior to or after their treatment, allowing them to make the most out of their trips. The country is known for its beaches, cultural heritage, and local cuisine, which are all considered affordable experiences.
The future of medical tourism in Thailand
Thailand’s medical tourism market is already known for offering great value and providing great care at the same time. In the post-COVID era, wellness can be promoted as another major avenue for tourists that are not seeking strict medical care. Some services that can be offered under this new banner include traditional medicine, mind and body fitness, nutrition, meditation, yoga, and spa treatments.
Hospitals and other medical institutions in Thailand may also be able to attract new customers by securing international accreditation and certifications that will help assure patients that they will be safe and taken care of when seeking treatment in the country. Adopting smart technology solutions for hospitals, such as patient databases, smart medical devices, and automated administrative workflows can help healthcare providers focus on their patients’ needs more while also optimizing their processes.
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Healing Wave: Thailand Medical Tourism Industry Surges at 15.70% CAGR by 2034, Y-o-Y Growth Analysis
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The sun-drenched shores of Thailand are beckoning not just for leisure travelers, but also for medical tourists seeking high-quality, affordable healthcare. FMI’s latest research estimates the Thailand medical tourism market at a substantial USD 15,378.00 million in 2024 , projected to surge to a staggering USD 66,104.90 million by 2034 , reflecting a phenomenal CAGR of 15.7% . Are you ready to be a part of this healthcare haven’s success story?
Why Thailand’s Medical Tourism Market is Your Golden Opportunity:
- Quality Care at Competitive Costs: Thailand offers exceptional medical care at a fraction of the price compared to Western countries. Attract cost-conscious patients seeking high-quality treatments.
- Favorable Government Policies: The Thai government actively supports medical tourism with simplified visa processes and ongoing industry development. Benefit from a supportive regulatory environment.
- Efficiency Matters: Foreign patients enjoy quick access to care, short waiting times, and convenient online appointment booking systems. Offer streamlined services that prioritize patient experience.
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- Cutting-Edge Technology: Thailand prioritizes medical innovation – a boon for patients seeking advanced treatments. Partner with forward-thinking hospitals to attract patients seeking the latest procedures.
- Hygienic Standards You Can Trust: Thai healthcare facilities adhere to strict hygiene protocols, ensuring patient safety and peace of mind. Showcase your commitment to the highest quality standards.
- Multilingual Care: Hospitals cater to international patients with multilingual staff, ensuring clear communication and a comfortable experience. Attract a diverse clientele seeking seamless communication.
- Recuperation in Paradise: Thailand’s stunning landscapes and rich cultural heritage provide the perfect backdrop for medical recovery. Offer patients a holistic recovery experience.
- Packaged Solutions for Savings: Hospitals offer cost-effective medical packages, making treatments even more affordable for patients. Promote these packages to attract budget-conscious medical tourists.
Competitive Edge for Astute Healthcare Providers:
This flourishing market demands excellence and a patient-centric approach:
- Specialization is Key: Focus on specific medical specialties to attract patients seeking advanced treatment options in Thailand.
- Invest in Patient Care: Prioritize patient comfort and well-being. Offer personalized care plans, cultural sensitivity training for staff, and comfortable recovery facilities.
- Embrace Technology: Utilize online platforms for patient consultations, appointment booking, and post-treatment follow-up. Offer a seamless digital experience for patients.
- Strategic Partnerships: Collaborate with travel agencies to create holistic medical tourism packages that combine healthcare with leisure activities.
- Building Trust is Paramount: Maintain transparency in pricing and procedures. Showcase success stories and patient testimonials to build trust with potential patients.
Key Takeaways:
- Thailand remains the pioneer in the global medical tourism market due to its systematic approach while establishing the sector.
- Cosmetic and Dental Treatments are some of the most affordable and trusted procedures in Thailand, making them the prominent treatments opted for by medical tourists.
- Online bookings were the most preferred mode of bookings among the consumers in the Thailand medical tourism market share.
- Female medical tourists outnumbered the male medical tourists in the Thailand medical tourism market size.
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Key Manufacturing Companies:
- Jet Medical Tourism
- TMI Medical Tourism (Tour My India Pvt. Ltd.)
- Lotus Medical International
- World Medical and Surgical LLC
- MedEx Ventures Co. Ltd.
- Lyfboat Technologies Pvt. Ltd.
- Medical Electronic Devices and Services Inc.
- Health-Tourism.com
- Smile Planners
- Health Tour Booking (Easy Golf Booking Company Limited)
- Asia Cosmetic Getaways
- Med Tourism Co, LLC
- Thai Medical Vacation
- My Body & Spirit
- Bookimed Limited
Competitive Landscape
Key firms in the Thailand medical tourism market are focused on providing customers with a hassle-free experience. To provide customers with utmost comfort, the service providers offer end-to-end solutions for all the travel needs and accommodation. For instance:
- Thai Medical Vacation offers complete solutions on their online platform for major treatments, providing services ranging from visa, consultation appointments, and stay accommodations.
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Thailand Medical Tourism Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2024-2032
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- Major Segmentation
- Major Companies
Market Overview
Thailand has emerged as one of the leading destinations for medical tourism, offering high-quality healthcare services, state-of-the-art facilities, and affordable treatment options. With its renowned medical expertise, world-class hospitals, and a wide range of specialized procedures, Thailand attracts millions of international patients every year. This comprehensive market analysis explores the key insights, trends, opportunities, and challenges in the thriving Thailand Medical Tourism market.
Medical tourism refers to the act of traveling to another country for medical treatment, often seeking specialized procedures, cost savings, or access to advanced healthcare facilities not available in the home country. In the case of Thailand, medical tourism encompasses a broad spectrum of treatments, including cosmetic surgery, dental procedures, fertility treatments, orthopedics, cardiology, and more.
Executive Summary
The Thailand Medical Tourism market has experienced remarkable growth over the past decade, fueled by the country’s exceptional healthcare infrastructure, renowned medical professionals, and attractive tourist destinations. The market has become a global hub for individuals seeking affordable, high-quality medical procedures. This report provides a comprehensive analysis of the market dynamics, key trends, competitive landscape, and future outlook, highlighting the immense potential and opportunities that Thailand offers to medical tourists.
![medical tourism market size thailand Thailand Medical Tourism Market](https://markwideresearch.com/wp-content/uploads/2023/05/Thailand-Medical-Tourism-Market--1024x576.jpg)
Key Market Insights
- The Thailand Medical Tourism market is projected to witness substantial growth, driven by factors such as affordable treatment costs, shorter waiting times, internationally accredited hospitals, and the country’s reputation for exceptional healthcare services.
- The availability of a wide range of medical treatments, including cosmetic procedures, cardiac surgeries , orthopedic surgeries, and IVF, positions Thailand as a comprehensive medical tourism destination.
- The market is attracting a diverse range of patients, including individuals from neighboring countries, expatriates, and tourists from Western countries, drawn by the affordability, quality, and hospitality of Thailand’s healthcare sector.
Market Drivers
- Cost Advantage: Thailand offers cost savings of up to 50-70% compared to Western countries, making it an attractive choice for individuals seeking affordable healthcare without compromising on quality.
- High-Quality Healthcare Infrastructure: Thailand boasts a robust healthcare infrastructure, with internationally accredited hospitals equipped with cutting-edge technology, advanced medical equipment, and well-trained medical professionals.
- Reputation for Medical Excellence: Thailand has gained a strong reputation for medical expertise and successful outcomes in various specialties, attracting patients seeking specialized treatments.
- Government Support: The Thai government has actively supported the development of the medical tourism industry, implementing policies to streamline visa procedures, ensuring patient safety, and promoting international marketing campaigns.
Market Restraints
- Language and Cultural Barriers: While English is widely spoken in major hospitals, language and cultural differences can still pose challenges for some patients, requiring improved communication and cultural sensitivity.
- Lengthy Travel and Recovery Periods: Traveling for medical treatment involves time and logistical considerations. Some patients may find the travel and recovery periods prolonged, particularly for complex procedures.
- Insurance Coverage Limitations: Insurance coverage for medical tourists can vary, limiting accessibility and affordability for certain treatments, especially for patients from countries with limited coverage options.
Market Opportunities
- Rising Demand for Cosmetic Procedures: Thailand is witnessing a significant surge in medical tourists seeking cosmetic surgeries, including facelifts, breast augmentations, and liposuction. This trend presents a lucrative opportunity for healthcare providers specializing in cosmetic procedures.
- Growing Aging Population: The increasing aging population globally, coupled with the rising demand for specialized geriatric care , opens avenues for Thailand to position itself as a destination for senior healthcare and retirement options.
- Technological Advancements: Embracing emerging technologies, such as telemedicine, robotics, and artificial intelligence, can enhance Thailand’s medical tourism industry by providing remote consultations, improving surgical precision, and reducing recovery times.
Market Dynamics
The Thailand Medical Tourism market operates in a dynamic environment, influenced by various factors such as changing patient preferences, advancements in medical technology, geopolitical conditions, and evolving healthcare regulations. It is crucial for stakeholders to adapt and innovate to stay competitive in this ever-evolving landscape.
Regional Analysis
Thailand’s medical tourism market is not limited to Bangkok; it extends to popular tourist destinations such as Phuket, Chiang Mai, and Pattaya. Each region offers unique advantages, including specialized medical facilities, scenic beauty, and leisure activities, attracting medical tourists from different parts of the world.
Competitive Landscape
The Thailand Medical Tourism market features a competitive landscape with a mix of local and international healthcare providers. Renowned hospitals, medical centers, and wellness retreats vie for market share by offering specialized treatments, competitive pricing, personalized care, and superior patient experiences. Maintaining high standards of quality, adopting innovative practices, and building strong relationships with patients are crucial for long-term success in this competitive market.
Segmentation
The Thailand Medical Tourism market can be segmented based on the types of medical procedures, including cosmetic surgery, dental treatments, orthopedic surgeries, cardiac procedures, fertility treatments, and wellness tourism. Each segment presents unique opportunities and challenges, catering to diverse patient needs and preferences.
Category-wise Insights
- Cosmetic Surgery: Thailand has gained a reputation as the “cosmetic surgery capital of the world.” The market offers a comprehensive range of procedures, including breast augmentations, rhinoplasty, liposuction, and gender reassignment surgeries.
- Dental Tourism: Thailand’s dental tourism sector has witnessed substantial growth, with advanced dental clinics, skilled dentists, and affordable treatments attracting patients from around the world.
- Orthopedic Procedures: Thailand is renowned for its orthopedic expertise, offering joint replacements, spinal surgeries, and sports medicine treatments, catering to both local and international patients.
- Cardiac Treatments: The country has developed world-class cardiac centers, performing complex heart surgeries, cardiac catheterization, and cardiac rehabilitation programs.
- Fertility Treatments: Thailand is emerging as a popular destination for fertility treatments, providing advanced reproductive technologies, such as in-vitro fertilization (IVF) and surrogacy options.
- Wellness Tourism: Thailand’s wellness tourism sector offers a range of holistic treatments, spa therapies, detox programs, and yoga retreats, combining healthcare with relaxation and rejuvenation.
Key Benefits for Industry Participants and Stakeholders
- Revenue Generation: The thriving medical tourism market in Thailand presents significant revenue opportunities for healthcare providers, hospitals, clinics, and associated service providers.
- Enhanced International Reputation: Participation in the medical tourism sector allows healthcare institutions to establish an international reputation for excellence and attract patients from diverse global markets.
- Economic Growth: Medical tourism contributes to the overall economic growth of Thailand, driving investments, employment opportunities, and infrastructure development.
- Knowledge Exchange and Collaboration: International patients contribute to knowledge exchange, allowing healthcare providers to learn from global best practices and collaborate with international experts.
SWOT Analysis
- Strengths: World-class healthcare infrastructure, affordable treatment costs, renowned medical expertise, favorable government policies, and an attractive tourist destination.
- Weaknesses: Language and cultural barriers, limited insurance coverage options, long travel and recovery periods for complex procedures.
- Opportunities: Rising demand for cosmetic procedures, growing aging population, embracing technological advancements, and expanding wellness tourism.
- Threats: Competition from other medical tourism destinations, geopolitical uncertainties, changing healthcare regulations.
Market Key Trends
- Rise in Wellness Tourism: The increasing focus on holistic well-being and preventive healthcare has led to a surge in wellness tourism in Thailand. Visitors seek rejuvenation, stress reduction, and relaxation through wellness retreats, spa therapies, and yoga retreats.
- Digital Marketing and Online Presence: Healthcare providers are leveraging digital marketing strategies, social media platforms, and online medical tourism portals to reach a wider audience, build brand awareness, and facilitate patient inquiries and bookings.
- Collaboration with International Partners: Thai hospitals are forming strategic partnerships and affiliations with international healthcare providers to enhance their reputation, attract more international patients, and exchange medical knowledge and expertise.
- Emphasis on Medical Quality and Safety: Accreditation by international bodies such as Joint Commission International (JCI) and International Organization for Standardization (ISO) is becoming crucial to establish trust, ensure patient safety, and maintain high-quality standards.
Covid-19 Impact
The COVID-19 pandemic significantly impacted the global medical tourism industry, including Thailand. Travel restrictions, lockdowns, and health concerns led to a temporary decline in medical tourism activities. However, Thailand’s successful management of the pandemic, implementation of stringent safety protocols, and vaccine rollout have instilled confidence among international patients, gradually revitalizing the market.
Key Industry Developments
- Virtual Consultations: To address travel restrictions and facilitate patient consultations, healthcare providers have adopted telemedicine and virtual consultation services, allowing patients to discuss treatment options remotely.
- Health and Safety Measures: Hospitals and clinics have implemented strict health and safety protocols, including enhanced sanitation, social distancing, and COVID-19 testing, to ensure patient and staff safety.
- Vaccine Tourism: Thailand has started offering vaccine tourism packages, attracting individuals from countries with limited vaccine availability to receive their doses while enjoying the country’s tourist attractions.
Analyst Suggestions
- Strengthening Language Support: To overcome language barriers, healthcare providers should focus on providing multilingual staff, interpretation services, and translated medical documents, ensuring effective communication with international patients.
- Targeted Marketing Campaigns: Healthcare providers should develop targeted marketing campaigns that highlight Thailand’s competitive advantages, such as cost savings, quality healthcare, personalized care, and the country’s unique tourist attractions.
- Collaboration with Travel Industry: Collaborating with travel agencies, airlines, and hotels can create comprehensive medical tourism packages that offer seamless travel and treatment experiences for international patients.
Future Outlook
The Thailand Medical Tourism market is poised for sustained growth in the coming years. The increasing recognition of Thailand as a preferred medical tourism destination, coupled with the country’s commitment to continuous improvement, innovation, and patient satisfaction, positions it to tap into new market segments and expand its global reach.
Thailand’s medical tourism market offers a compelling combination of high-quality healthcare, affordable treatment costs, and a rich cultural experience. With its advanced medical infrastructure, skilled healthcare professionals, and diverse range of treatments, Thailand continues to attract a growing number of medical tourists seeking world-class healthcare services. As the market evolves, stakeholders must remain adaptable, embrace technology, focus on patient-centered care, and leverage strategic partnerships to capitalize on the immense potential of the Thailand Medical Tourism market.
Thailand Medical Tourism Market
Leading companies in the Thailand Medical Tourism market:
- Bumrungrad International Hospital
- Bangkok Hospital Group
- Samitivej Hospital
- Vejthani Hospital
- Yanhee Hospital
- Bangkok Dusit Medical Services Public Company Limited
- Paolo Hospital Group
- Phyathai Hospitals Group
- Rajavithi Hospital
- Sikarin Public Company Limited
Important Questions Covered in this Study
- Which are the main companies that are currently operating within the market?
- What are the factors that are predicted to propel the growth of the market?
- What are the factors that are expected to limit the growth of the market?
- Which company had the largest market share?
- What are the main opportunities available in the market?
- What are the market size and growth rates of the various segments within the market?
- What are the market sizes and growth rates of the overall market or specific regions ?
- Which region or segment is projected to be the primary driver of market growth during the forecast period?
- What are the significant trends observed in the market?
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An Overview of Thailand’s Medical Tourism Industry
If you’ve been paying attention to the trends among healthcare systems , you may be familiar with the impact of Thailand’s medical tourism. But what exactly is medical tourism? The short answer is that it’s a cost-effective way of seeking quality medical care and treatments in a foreign country.
Since COVID-19, people from outside of Thailand have been traveling here for high-quality hospitals. Foreigners can access high-quality care at top-notch facilities for a fraction of the cost they would find in their home countries.
![medical tourism market size thailand Medical equipment and medicine on a white desk](https://www.pacificprime.co.th/blog/wp-content/uploads/2022/07/Medical-equipment-and-medicine-on-a-white-desk.webp)
In addition, with vaccination programs successfully implemented across the globe, Thailand is now welcoming foreign medical tourists looking to invest in their health and improve their wellbeing with open arms. For patients who need long-term treatments, there is now even a one-year medical visa .
In this article, Pacific Prime Thailand examines the current state of Thailand’s medical tourism industry, the most popular treatments and procedures, and the ongoing wellness trends.
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Thailand Medical Tourism
There are several reasons that make Thailand the best destination for medical tourism with the main one being Thailand performed outstandingly well during the pandemic. From policymakers to researchers and doctors, every party in the healthcare industry displayed Thailand’s resilience to the world.
Experts have estimated that in 2023, the size of the Thai medical tourism industry will exceed what it was in 2019 and will be valued at THB ฿2 billion (USD $56.4 million). They are optimistic about future growth prospects, in part due to the recent onset of the silver economy.
Some countries, like the UK’s National Health Service (NHS) , have public healthcare systems that provide free medical treatment. However, these public healthcare systems often have long waiting lists for non-life-threatening conditions, leading patients to seek private healthcare for quicker treatment instead.
![medical tourism market size thailand A modern hospital room](https://www.pacificprime.co.th/blog/wp-content/uploads/2022/07/A-cozy-hospital-room.webp)
Thailand’s Private Hospitals
When it comes to medical tourism, private hospitals in Thailand truly shine . Thai doctors are well-trained in the latest treatments, and hospitals are outfitted with cutting-edge technology. Doctors and medical staff who attract tourists in Thailand also have excellent language skills.
Beyond the medical side, people who travel to Thailand for healthcare are often amazed at the excellent amenities Thai hospitals offer. In addition, their customer service can compete with that of world-class hotels!
Most Common Medical Tourism Treatments and Procedures
Nobody becomes a medical tourist to save money after a heart attack. Medical tourism isn’t for emergency medical care; any critical conditions should be treated immediately at the best possible facility in the area, hence the most common reasons for medical tourism are:
![medical tourism market size thailand A patient undergoing a scan](https://www.pacificprime.co.th/blog/wp-content/uploads/2023/09/accuray-ibdJjGbrgxI-unsplash-edited.jpg)
1. Scans of Various Kinds
The average cost of an MRI scan in the United States (U.S.) is USD $1,325. Therefore, some people are willing to pay for a flight to Thailand where the highest cost of the same scan is only USD $1,100 . Other medical scans like PET scans, CT scans, ultrasounds, and X-rays are also less expensive too.
![medical tourism market size thailand Getting ready for cosmetic surgery](https://www.pacificprime.co.th/blog/wp-content/uploads/2023/09/iStock-1189207356-edited.jpg)
2. Cosmetic Procedures and Dental Work
Whether it’s a facelift, tummy tuck, breast augmentation, anti-aging treatment, veneers, or any other elective or non-elective cosmetic surgery , significant savings can be realized by choosing Thailand for the procedure.
Dental treatment is also a good reason to visit Thailand. Dental clinics with full accreditation are comparable to those in the U.S., while the costs are significantly cheaper. Of course, this depends on what you want. A simple consultation followed by a thorough scaling costs no more than USD $60 .
![medical tourism market size thailand Data reporting dashboard on a laptop screen](https://www.pacificprime.co.th/blog/wp-content/uploads/2022/07/Data-reporting-dashboard-on-a-laptop-screen.webp)
3. Physical Examination
Why not combine your regular physical examination with a tropical holiday and substitute a stuffy hospital environment with a medical facility that could pass for a 5-star resort at an affordable price? It’s easy to see why people opt for check-ups in Thailand.
Additionally, private hospitals offer several annual promotions to attract medical tourists for full health check-ups that can be considerably cheaper than back home.
![medical tourism market size thailand A model of the human heart](https://www.pacificprime.co.th/blog/wp-content/uploads/2023/09/ali-hajiluyi-MhFJNz_D8t4-unsplash-edited.jpg)
4. Heart Surgery
The biggest savings can be made on more complicated procedures. For example, a heart-valve replacement, which typically costs an average of USD $170,000 in the U.S. , is priced at only USD $26,400 in Thailand , even at one of the country’s most expensive hospitals. Still, prices may vary among individuals.
![medical tourism market size thailand Man feeling pain in knee](https://www.pacificprime.co.th/blog/wp-content/uploads/2023/09/iStock-1055498222-edited.jpg)
5. Joint Replacement
In the U.S., the average cost of hip replacement starts from USD $45,000. In Thailand, however, the same procedure may cost only USD $7,000 on average. Likewise, knee replacement surgery can cost USD $50,000 on average in the U.S. but only USD $7,000 in Thailand.
![medical tourism market size thailand Eyes are the windows to the soul](https://www.pacificprime.co.th/blog/wp-content/uploads/2023/09/bacila-vlad-WTThc6UmwEI-unsplash-edited.jpg)
6. Eye Surgery
While LASIK for both eyes will set you back roughly USD $4,400 in the U.S. , in Thailand, patients typically only need to pay around USD $1,650 for the same procedure. It should come as no surprise that eye surgeries are another big category for medical tourism in Thailand.
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7. Cannabis-based Medical Treatments
Marijuana has multiple medical applications. Medical marijuana can be used to manage chronic pain, especially for multiple sclerosis and nerve pain. Marijuana is also an effective muscle relaxant, reducing tremors in Parkinson’s disease. It helps in managing nausea, weight loss, glaucoma, and shows promise in treating PTSD, HIV-related pain, irritable bowel syndrome, and Crohn’s disease, among other uses.
![medical tourism market size thailand five woman doing yoga on a seashore](https://www.pacificprime.co.th/blog/wp-content/uploads/2022/07/five-woman-doing-yoga-on-a-seashore.webp)
Wellness: The Future of Medical Tourism
Another area of Thailand’s medical tourism industry that’s growing rapidly is wellness tourism . At present, Thailand’s global wellness tourism industry is estimated to be worth US $4.4 trillion each year, with predictions that it will rise to as high as USD $7 trillion by 2025.
Wellness Tourism
So, what is wellness tourism? While it can be many things, wellness tourism is generally regarded to be health-related services that aren’t medical treatments provided by people who aren’t doctors or nurses. Health-conscious people often travel to Thailand for better physical and mental wellbeing.
There are many types of activities that can be categorized as wellness tourism, including:
- Nutrition education
- Fitness and mind-body
- Personalized preventive care
- Traditional medicine
- Beauty and anti-aging treatment
- Alternative medicine
![medical tourism market size thailand woman sitting on bench and viewing a mountain in the distant](https://www.pacificprime.co.th/blog/wp-content/uploads/2022/07/woman-sitting-on-bench-and-viewing-a-mountain-in-the-distant.webp)
It’s generally believed that the rise of wellness tourism has much to do with the rising affluence and education worldwide. We’re now in an age where many realize that longevity is linked to developing and maintaining a healthy lifestyle.
Additionally, stressful events in modern days are unavoidable. As more people look for getaways to help them alleviate stress, more medical tourists spend less time in hospitals and clinics and more time in spas and hotels.
Covering Costs
If you’re going to Thailand as a medical tourist, how will you cover the costs? While the cost of healthcare in Thailand is affordable, expenses can still add up to a very significant amount, especially if complications occur, and some health insurance won’t provide coverage for medical tourism.
![medical tourism market size thailand Thai boat on an emerald sea](https://www.pacificprime.co.th/blog/wp-content/uploads/2022/07/Thai-boat-on-an-emerald-sea.webp)
Secure the Right Health Insurance Plan for Thailand
Individual health insurance plans are mostly local. Once the insured is out of their country of residence, they’re not protected by their insurance anymore. Travel insurance also provides only coverage for medical emergencies, so you won’t be covered for any procedures scheduled ahead of time.
Although some health insurance plans can cover the cost of wellness tourism activities, the majority of them don’t. However, there is a solution! International health insurance plans grant you access to virtual medical care anywhere in the world, including Thailand and other destinations.
Purchasing international insurance can provide peace of mind, especially if you reach out to a health insurance broker like Pacific Prime. Contact our team of experts at Pacific Prime Thailand for the most suitable international health insurance plan and a free quote comparison service today!
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Suphanida Thakral
Suphanida is a Senior Content Creator at Pacific Prime, an award-winning global health insurance and employee benefits specialist.
With over 5 years of experience in the field, Suphanida spends the majority of her day synthesizing complex pieces of insurance-related information and translating this into easy-to-understand, engaging, and effective content across a variety of media such as articles, infographics, whitepapers, videos, and more.
Suphanida is also responsible for planning and publishing three whitepapers released annually by Pacific Prime: The State of Health Insurance Report, The Cost of Health Insurance Report, and The Global Employee Benefits Trends Report. Additionally, she handles the LinkedIn profiles of Pacific Prime’s Founder and CEO, as well as Global HR Lead.
Suphanida’s strengths lie in her strong research and analytical skills, which she has gained from her BA in Politics from the University of Warwick and Erasmus Mundus Joint MA in Journalism from Aarhus University and City, University of London.
Being of Thai-Indian origin and having lived, studied, and worked in Thailand, the UK, and Denmark, Suphanida also has a unique, multicultural perspective that helps her understand the struggles of expats and globetrotters.
Outside of work, she enjoys traveling to new places and immersing herself in different cultures.
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About pacific prime thailand.
Pacific Prime Thailand provides expats and companies based in Thailand robust local support and reliable management of their international health insurance solutions.
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Thailand: Medical tourism profile
The standard of healthcare varies from excellent if crowded public hospitals in major cities, to basic care in rural areas.
Medical tourism numbers in
Kasikorn Research Centre: number of treatments to international patients:
Medical tourism numbers out
Environment, medical tourism promotion.
The country promotes medical and health tourism but is niche marketing to drive up income rather than just going for larger numbers.
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Medical Tourism in Thailand 2023
Millions of travelers from all over the world move from one location to another as part of the growing business known as medical tourism to receive treatment for their health issues. In Asia, Thailand consistently ranks as one of the top locations for medical tourism. Other nations are falling to the bottom of the ranking as the business of medical tourism in Thailand is expanding. The quantity of tourists going to Thailand for medical treatment has considerably grown since the early 2000s.Medical tourism in Thailand now occupies the top spot. You'll learn why Thailand is the ideal location for receiving medical care in this blog, along with the choices open to visitors from abroad.
In 2022, the market for medical travel is anticipated to grow to $5,687 million USD. The studies predict that medical tourism in Thailand will grow at a strong rate of 18.4%. 2% to 7% of the world's medical tourism business is represented by the total revenue of the Thai medical tourism industry. In Johns Hopkins University Global Health Security Index (2021), it is shown that due to its ability to respond to the outbreak of pandemics, Thailand was ranked 5th out of 195 countries and first in Asia.
The market for medical tourism in Thailand is anticipated to expand steadily between 2022 and 2032. Thailand's rapidly expanding health facilities and adequate government support will contribute to the expansion of the country's medical tourism industry.
The public-private collaboration will aid in increasing the effectiveness of medical tourism in Thailand and keep the industry organized. During the forecast timeframe, it is anticipated that the Thailand medical tourism market will continue to draw tourists. The reason behind this is the growing need for economical, high-quality healthcare throughout the world's developing nations.
Bangkok is the only megacity in the world to anticipate 16 million international tourists this year. More than 900,000 of these are anticipated to seek medical attention as more and more people from all over the world visit Thai hospitals and centers.
Is Thailand Good for Medical Tourism? This is the question you might be most bothered about!! Read further to get your answers!!
Is Thailand good for medical tourism?
If you're searching for high-quality and affordable medical care , Thailand is undeniably one of your best options. More than 470 of the 1,000 hospitals in Thailand are private facilities. The nation takes pride in housing the biggest private hospital in Asia and is the first hospital to receive JCI and ISO 9001 approval. All 37 of Thailand's top private institutions have received JCI accreditation.
With best in class facilities and top-notch medical assistance Thailand can provide you with the best medical experience in the world.
Now let's see why Thailand is gaining popularity for medical tourism!!
Why is Thailand famous for medical tourism?
Patients travel in large numbers to Thailand for a variety of causes. The following section discusses some key benefits of having medical treatments performed in Thailand.
What are common medical procedures performed in Thailand?
Thailand attracts medical travelers who seek a range of treatments. But some of the most commonly performed procedures are as follows:
- Aesthetic or plastic and cosmetic surgeries
- Dental procedures
- Cardiac treatment procedures
- Orthopedic treatment
- Treatment for Infertility
- Bariatric surgery procedures
- Eye surgery and ophthalmology
- Health screening services
- Transgender Surgeries
How do I choose the best hospital for medical tourism in Thailand?
For a medical tourist, choosing a specific facility for the best care in a foreign nation can be challenging. As a result, the following advice can be used to choose the top hospitals in Thailand :
- Accreditations: The first and most crucial thing you should look into before choosing any hospital in Thailand is the hospital's foreign recognition and certifications. Check for Joint Commission International (JCI) certification. The hospital also should be affiliated with other esteemed medical institutions and possess accreditations like ISO 9000.
- Verify the Facility Standards: Before choosing a facility, make sure the amenities meet your expectations. Ask about the types of accommodations that are accessible and the other amenities that the place will have. You can also find out if they offer airport transportation services by asking them. Make careful to inquire in advance if you require any unique services.
- Check the Credentials of the Doctors: In addition to verifying the hospital's licensure, it's important to confirm the board certification of the physicians. Since most hospitals post their doctors' biographies on their websites, you can verify them using that resource. Look for their credentials, level of experience, areas of expertise, and qualifications if you want the finest care.
- Medical Technology & Equipment: Hospitals with foreign certifications always have cutting-edge medical technology & equipment, but it is the patient's duty to do their study. Find out if the therapy you're looking for uses any novel technology or procedures . If so, find out from the doctor whether they have it or not.
- Use a Medical Tourism Company's Assistance: Finding the finest facility and medical care while traveling abroad is a difficult job. Many individuals find this frustrating. A medical travel business can step in at this point. You can ask for their assistance, and they will make all the necessary arrangements for you, including locating the finest hospitals, scheduling appointments, arranging transportation, and reserving lodging.
What insurance options are available for medical tourism in Thailand?
Prior to planning your medical trip, we strongly suggest you check with your employer or insurance company in your country to see if they will cover the treatment or not. The good news is that, if your company is providing the insurance, they will be more than happy to cover the costs because Thailand's medical tourism packages are very reasonable.
Although, there are a lot of inexpensive and affordable insurance options to choose from, choosing expensive insurance plans will always give you more coverage for a wide range of treatments. Most affordable insurance plans may not even cover the costs of your treatment for a motorcycle accident.
If you are opting for international medical treatment, you will find that there are many insurance plans that are tailored according to your requirements. Also have global medical coverage, especially in Thailand. However, local health insurance plans for international patients frequently exclude elderly citizens, so expat retirees in Thailand may do better to locate insurance plans from overseas.
How do I prepare for Thailand medical tourism before I arrive in Thailand?
Since you are traveling to another country, there are a few things that you need to be careful about. Here are the things that you should consider before arriving in Thailand for your treatment:
- An active visa
- Travel and health coverage
- Paperwork and COVID-19 immunization certification (refer to the COVID-19 requirements for entry above)
- Numbers of the healthcare aides you've located or been given, as well as the medical facility you're attending,
- Reputable purchasing methods around the world (VISA, Master Card, cash, etc.)
- Your visa and immunization documents in photo form
- Data regarding flights
There are few things that you must consider after reaching for health tourism in Thailand:
If you've scheduled a visit to one of Thailand's more expensive, higher-quality medical facilities, a medical assistant will probably meet you there. Your healthcare aide will assist you with understanding COVID-19 rules and making travel arrangements to the medical facility.
Thailand is a simple place to travel, and cabs are inexpensive and courteous. To follow local safety laws, be careful to ask the concierge at your hotel for a cab. If you're traveling to Bangkok, you can also take advantage of the Sky Train or subway system, which runs throughout the entire city and pauses at all the main hubs. Your preferred medical facility will probably be close to one of the locations.
What are the Thailand medical tourism packages?
Most medical institutions offer packages that include diagnostic procedures and treatment. They occasionally also include instruction and spa treatments (massage, yoga, acupuncture, sunbathes, and others). Packages for medical travel are less expensive than individual treatments.
Your travel advisor will be able to customize your journey specifically for you once they are aware of your desired travel experience. This entails deciding on the best kind of lodging, means of transportation, tourism, and more. Representatives can offer a variety of helpful travel advice, as well as suggestions for top day retreats, massage parlors, and restaurants.
Top companies for medical tourism in Thailand
Do you know what the most amazing aspect of wellness tourism in Thailand is? They have created a complete infrastructure with the express purpose of assisting visitors to overcome any challenges they may experience after arriving from abroad and settling in a new nation.
Let's take a look at the top medical organizations out of all those available to help you have a seamless medical voyage!
The best 7 medical tourism businesses in Thailand are listed below, along with the services they offer to assist patients to stay and access healthcare.
1. ClinicSpots
ClinicSpots is an Indian company. It will help you sift through a large number of institutions and help you choose the best one as per your requirements. They provide you with the best solution after thorough research and put a lot of effort into finding the best medical facilities for you. When you reach Thailand, the ClinicSpots team will also place you in contact with a cordial and welcoming executive to help with any linguistic or financial difficulties you may encounter.
How ClinicSpots help you on your medical path?
- Providing information on a hospital's location, the costs of all of its services, its staff of professionals, and a cost contrast with other healthcare groups.
- Transportation to and from the airport.
- will assist you in making lodging plans in accordance with your budget.
- Help with the medical passport application process.
- A forum for medical Q&A in case you have medical queries.
Why choose ClinicSpots?
- more than 250 recognized institutions are connected to us!
- Over 5700 medical professionals have joined.
- Their dedication and excellent patient initiatives are the primary cause of the positive patient experience.
Vaidam is an Indian Company. Whatever location you decide on for your therapy, you can rely on it to assist you in making the best arrangements for your stay and lodging.
Vaidam will give your requirements top priority and assist you in getting the best bargain on your treatment and accommodation!
Let's look at how Vidam can help you:
- Support with regard to a medical visa.
- Deciding on the most affordable flight rates.
- Daily requirements for meals, language, and transport.
3. Medsurge India
In the area of medical travel in India, Medsurge India is a reputable and innovative business. Medsurge India provides the finest medical care and travel arrangements for foreign patients traveling to other countries.
Through their innovative cost-control methodology, they help foreign patients access the best medical care and therapy centers available.
How will Medsurge India assist you in your journey?
- Helping people acquire medical visas.
- Offer cheap airline seats, assistance with linguistic barriers, and information on cuisine
Med Ex is a provider of full-service medical travel services. They guarantee improved health care results by working with a tele-consultation medical team for affordable second opinions and a committed medical travel service team.
What benefits do they give?
- Reduce Hospital Expenses
- Exceptional Medical Services
- Hospital Travel Expertise That Is Smooth
- Liaison for Customized Service
MedEx provides a remedy for these issues.
- expensive medical care
- Hassle free appointments with doctors and hospital bookings
- Absence of health insurance
https://www.statista.com/statistics/1311335/thailand-market-value-of-medical-tourism/
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- Thailand Medical Tourism Market
Thailand Medical Tourism Market Size, Share, Opportunities And Trends - Forecasts From 2022 To 2027
- Published : Mar 2020
- Report Code : KSI061610897
- Pages : 114
- Description
- Table Of Contents
Offered with this report
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Market Data and Estimates in Excel
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Requirement Specific Customization
Thailand Medical Tourism Business Opportunities report provides in-depth analysis of business opportunities available for Medical Tourism players. This research study examines the medical tourism business and investment opportunities in the country through various segments. The first segment includes the country outlook which covers demographic trend, economic scenario, political scenario, stock market movement, and international trade dynamics of the country.
The second segment provides the exhaustive picture of healthcare industry outlook in Thailand which includes key policies and regulations, industry participants and major market players. Moreover, the research study analyzes the overall healthcare regulatory framework in Thailand, offering stakeholders a better understanding of the key factors affecting the market environment.
The report also provides investment analysis including recent deals, FDI regulations, and proposals and MoUs along with the analysis of key market players in the country. This is followed by World Bank and UN Outlook for Thailand’s Healthcare Industry. The next segment provides the analysis of tourism industry in Thailand which includes tourism industry outlook, and medical tourism which includes number of medical tourists per year, healthcare services provided by Thailand healthcare facilities, favorable policies and regulations, and other factors impacting the country’s medical tourism industry.
Thailand Medical Tourism market outlook segment includes market size, competitive intelligence, and total cost of ownership. The analysis is complemented with presentation, charts, graphics and other different formats helping the clients in faster and efficient understanding of the market. The last segment provides the future outlook for Thailand Medical Tourism market to give a clear picture for business opportunities that lie ahead in this particular sector in the country.
1. Introduction 2. Country Outlook 2.1. Demographic Trend 2.2. Economic Scenario 2.3. Political Scenario 2.4. Stock market movement over the last one year 2.5. Trade Dynamics 2.5.1. Import-Export 2.5.2. Major Global Trading Partners 3. Thailand Healthcare Industry Outlook 3.1. Key Industry Policies and Regulations 3.2. Industry Participants 3.3. Key Players 4. Investment Analysis 4.1. Recent deals in last two years 4.2. Foreign Direct Investments 4.3. Proposals and Memorandum of Understanding (MoUs) 5. Stock Movement of Key Players 5.1. MedRetreat 5.2. CosMediTour 5.3. International Medical Health Solutions 5.4. Lotus Medical International 5.5. Phuket Health and Travel 6. World Bank and United Nations Outlook for Thailand Healthcare Industry 7. Thailand Tourism Industry 7.1. Tourism Industry Outlook 7.2. Medical Tourism 7.2.1. Number of Medical Tourists per Year 7.2.2. Healthcare Services 7.2.2.1. Dentistry 7.2.2.2. Orthopedic 7.2.2.3. Cosmetic Surgery 7.2.2.4. Transplants 7.2.2.5. Others 7.3. Favorable Policies and Regulations 7.4. Other Factors (availability of cheaper airlines, hotel rooms, etc.) 8. Thailand Medical Tourism Market Outlook 8.1. Market Size and Forecast 8.1.1. Short Term 8.1.2. Medium Term 8.1.3. Long Term 8.2. Competitive Intelligence 8.3. Total Cost of Ownership 9. Future Outlook
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With affordable healthcare, well-developed healthcare infrastructure, highly skilled medical professionals, and medical services meeting international standards, Thailand is a leading destination for medical tourism. As of August 2023, the Joint Commission International (JCI) accredited 59 Thai medical institutes which offers diverse medical treatments, ranging from organ transplants to dental and cosmetic surgery.
Thailand’s low cost of medical care attracts increasing number of medical tourists. The average medical tourist can expect to save 25 percent to 75 percent on various procedures and treatment options. For example, a heart bypass surgery in Thailand costs $13,000, nearly nine times less than in the U.S. ($113,000). A facelift costs up to $15,000 in the U.S., but as low as $3,000 in Thailand. Hip replacement in Thailand costs about $7,800 compared to $50,000 in the U.S.
In addition to low costs, Thailand has highly trained and experienced medical specialists and is well known for quality service. Thailand has also made impressive strides in the use of advanced technologies and treatment options. Furthermore, the country’s abundant tourist attractions are another major draw for medical tourists.
According to the 2020-2021 Medical Tourism Index by the International Healthcare Research Center, Thailand ranked 5th out of 46 destinations for medical tourism. Siam Commercial Bank’s Economic Intelligence Center has forecasted that Thailand’s medical tourism market is valued at $829 million in 2023 and medical tourists from CLMV countries (Cambodia, Lao PDR, Myanmar, and Vietnam), the Middle East, and China are major sources of foreign patients. Favorite medical treatments among medical tourists include cosmetic surgery, dental treatment, and medical check-up and treatments including MRI, PET/CT scans, mammography, heart surgery, and joint replacements.
According to Krungsri Bank Research Center, Thailand’s demand for medical devices connected to healthcare and hygiene will increase in 2023, due to the following factors:
- Increasing rates of illness due to the increasing prevalence of non-communicable diseases, requiring long term care.
- Increasing numbers of foreign tourists seeking healthcare in Thailand.
- Continuous investment in hospitals by private-sector healthcare providers.
- Rising awareness and interest in health and wellness globally.
- Growing demand for medical devices and equipment in Thailand’s main export markets.
- Prevalence of government policies promoting Thailand as an international medical hub.
In 2022, the value of Thailand’s medical device market was approximately $7.2 billion. Owing to global recovery from the COVID-19 pandemic, the local production and export of personal protective equipment (PPE) decreased significantly. As a result, Thailand’s overall production and export of medical devices decreased by 35 percent and 39 percent, respectively. Thailand imported $2.7 billion in medical devices in which medical devices from the United States accounted for 17.2 percent of total imports or $478 million. Thailand imported $784.32 in medical devices from China, followed by $478.34 million from the United States, $218.42 million from Germany, and $163.1 million from Japan. The United States remains the top supplier of higher technological devices such as cardiovascular devices, ultrasound, and X-ray devices, electro-diagnostic devices, etc.
Table: Medical Devices (Millions USD)
(Total market size = (total local production + imports) – exports) Source: Medical Devices Intelligence Unit (MEDIU), Thailand Office of Industrial Economics
Leading Sub-Sectors
- In vitro diagnostic devices
- Cardiovascular devices
- Dental devices
- Dermatological devices
- Electro-diagnostic devices
- Neurological and surgical devices
- Ophthalmic and optical devices
- Orthopedic and fracture devices
- Rehabilitation equipment
- Therapeutic respiration devices
- Ultrasound and X-ray devices
- Health information technology
Opportunities
Thailand’s population is aging rapidly and the country has the 2nd most aged society in ASEAN after Singapore. Currently, 20 percent of Thais are older than 60 years old, and by 2030, approximately one-third of the Thai population will be over 60 years old. Out of 12 million elderly people, 700,000 have dementia. The National Statistical Office of Thailand has forecasted that by 2035, the country will become a super-aged society, with 30 percent of the population over 60 years old. This offers given ample business opportunities for products and services for the elderly, valued at approximately $2.8 billion.
The Thai government plans to turn Phuket into a world-class hub of medical tourism by 2028. Phuket will construct an international medical tourism complex called “Medical Plaza.” The Medical Plaza project comprises a one-stop medical center operated by Vachira Phuket Hospital and a 5,000-capacity multipurpose convention center. Construction of the medical center is expected to finish by 2026. The center’s services include geriatric and palliative care, physical therapy and rehabilitation, and international healthcare.
Several public hospitals in Thailand are in the process of reviewing their current electronic medical records (EMR) and considering migrating to a better system. Consequently, it should be optimal timing for U.S. EMR companies including Epic Systems Corporation, Cerner, InterSystems, and other SME suppliers to explore this business opportunity.
In 2019, the Thai government launched the five-year Genomics Thailand Project, with the first phase to sequence the genomes of 50,000 Thai individuals within five disease groups: cancer, rare diseases, non-communicable diseases, infectious diseases, and pharmacogenomics. The country aims to build infrastructure to harness genomic information and provide a bioinformatics platform for both researchers and healthcare service personnel to access genome analysis tools.
One long-term goal is to gain better preventative information and provide better health outcomes for Southeast Asian populations. Currently, the Genomics Thailand Consortium has more than 40 participating national agencies, institutes, medical schools, and hospitals. The first phase of cataloging 50,000 human whole genome sequences is expected to be complete in 2025. The Project plans to integrate genomic medicine into the health system so that it will raise the standard of healthcare.
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Medical Tourism Market Size, Share & Trends Analysis Report by Country (Thailand, India, Mexico, Costa Rica, Malaysia, Singapore, Brazil, Colombia, Turkey, Taiwan, South Korea, Spain, Czech Republic, China), and Segment Forecasts, 2022-2030
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Medical Tourism Market Report Highlights
- Turkey was one of the notable markets in terms of revenue in 2021, owing to the high quality of health services and a high number of patient arrivals in the country.
- The Thailand medical tourism market is anticipated to grow at a significant rate. Popular destinations in Thailand are Bangkok, Phuket, Pattaya, Chiang Moi, Samui, and Hua Hin. Around 62% of travelers visit Bangkok, nearly 15% visit Phuket, and 11% visit Pattaya.
- Singapore is a major medical tourism destination on the global stage. The country is ranked second in the Medical Tourism Index by the Medical Tourism Association, behind Canada. Singapore's private hospitals provide superior healthcare services through the use of highly trained specialists and state-of-the-art infrastructure.
- Singapore, Colombia, Taiwan, and Spain are among the leading destinations with the highest growth rates. Medical tourism is a significant source of revenue for several countries. They have a sophisticated healthcare infrastructure and a qualified workforce that enables them to serve foreign patients.
- Thailand is a popular destination for cosmetic procedures, while India is the preferred destination for cardiothoracic and orthopedic procedures. Dental operations are favored in Brazil and Costa Rica.
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Global Medical Tourism Market (2024 Edition): Analysis By Service Provider (Public, and Private), By Treatment Type, By Age Group, By Region, By Country: Market Insights and Forecast (2020-2030)
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Global Medical Tourism: Numbers, Prospects and Problems
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Global Inbound Medical Tourism Market Overview, 2023-28
- August 2023
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Global Inbound Medical Tourism Market Outlook, 2028
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Thailand medical tourism market share, trends, demand, revenue, cagr status, competition, challenges and future investment opportunities till 2033.
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Health tourism in Thailand
Statista trend report on health tourism in Thailand
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Health tourism in Thailand is a thriving industry that is being comprehensively promoted by the Thai public sectors. With sufficient healthcare resources, recognized value-for-money pricing, including numerous wellness retreats and facilities provided, Thailand is hoping to be the trusted destination for health journeys.
This report dives into health tourism in Thailand, looking closely at its definitions and classifications, as well as the performance of its segments. Exploring the potential of the medical and wellness tourism industry in depth, this report takes a deep dive into the capacity of medical infrastructure and professionals, the variety of wellness retreats and health-oriented activities, and the clients' profiles and behaviors. In addition, we provide an evaluation of the future of health tourism in Thailand based on latest available data.
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Table of contents.
- The state of the tourism industry in Thailand
- Tourism GDP contribution to the Thai economy
- International tourists in Thailand
- Definition of health tourism
- Key figures of health tourism, by segment
- The state of medical tourism in Thailand
- The state of wellness tourism in Thailand
- Thailand’s health and wellness infrastructure
- Growth of Thai medical and cosmetic industry
- Revenue of Siam Wellness Group
- Medical tourists
- Wellness tourists
- Thai tourism after coronavirus (COVID-19) pandemic
- The future is looking bright for health tourism
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Brief Introduction to Thailand and Its Reputation in Medical Tourism
Thailand has long been a jewel in the crown of Southeast Asia, not just for its stunning beaches and rich cultural history, but also as a reputable center for medical tourism. Over the years, the country has built a solid reputation for offering high-quality healthcare services at relatively affordable costs. Hospitals in key cities like Bangkok, Phuket, and Chiang Mai are well-equipped, boasting state-of-the-art medical technologies and internationally trained healthcare professionals. Many medical tourists come to Thailand not just for the cost savings, but also for the exceptional patient care and shorter waiting times for medical procedures.
Historical and Cultural Significance in Medicine
Traditionally, Thailand has a rich history of herbal medicine and wellness practices that trace back to centuries-old wisdom. These traditional practices are sometimes integrated into modern medical care, offering a holistic approach to treatment. It’s this blend of traditional and modern medicine, together with a culture that puts a premium on hospitality, that makes Thailand a unique destination for medical tourism. Many Thai hospitals incorporate elements of traditional Thai medicine and even Buddhist practices to create a calming, healing environment, which is highly appreciated by patients from different cultural backgrounds.
Global Recognition in Medical Care
Thailand's medical facilities are often compared to those in developed countries, including the United States and Western European nations. Numerous hospitals in Thailand are internationally accredited, adhering to high standards of medical care and patient safety protocols. The country has also been successful in attracting foreign investment in healthcare, which has led to continuous improvement in medical technologies and techniques.
The Tourist Perspective
Apart from the medical procedures, Thailand offers a relaxed atmosphere conducive to quick recovery. After undergoing a procedure, patients can recuperate in luxurious hotel-like hospital rooms or rehabilitation centers that often offer panoramic views of Thailand's scenic landscapes. If that's not enough, the charm of Thai culture, its delectable cuisine, and the possibility to explore the country’s beautiful tourist spots add an extra layer of allure to the overall medical tourism experience in Thailand.
Popular Medical Procedures
List of procedures.
Thailand offers a wide array of medical procedures at competitive prices, but the country is most well-known for its expertise in cosmetic surgery, dental care, cardiology, orthopedics, and fertility treatments. These areas of specialization attract patients from all over the world, who come seeking both elective and life-saving treatments.
Specializations and Pioneering Treatments
Thailand is a hub for cosmetic and gender reassignment surgeries, providing both of these at a fraction of the cost you would pay in many Western countries. Many Thai surgeons are trained internationally and bring a high level of expertise and experience to the operating table. The country is also emerging as a leader in regenerative medicine, particularly stem cell therapies, which are offered in specialized centers with cutting-edge facilities.
Top Hospitals & Clinics
Renowned institutions.
Some of the top-rated hospitals in Thailand include Bumrungrad International Hospital in Bangkok, Bangkok Hospital, and Phuket International Hospital. These medical institutions are known for their advanced healthcare services and have often received awards for excellence in various medical fields.
Accreditation and Affiliation
These hospitals often hold international accreditations, though we cannot mention specific accrediting bodies. Such credentials affirm that these medical institutions meet or exceed global standards in healthcare. Many of the medical professionals working in these facilities have been trained or have practiced in Western countries, further solidifying the high standard of medical care available.
Special Features, Awards, or Recognitions
While we can't mention specific awards, it's worth noting that many Thai hospitals are lauded for their focus on patient experience, incorporating luxury amenities and even personalized care options. Additionally, some hospitals have specialized centers for particular treatments, like cardiovascular care or orthopedic surgery, which have received various forms of acknowledgment for their excellence.
Cost Comparison
Comparative data.
When it comes to cost, Thailand stands as a highly competitive option. Medical procedures often cost 50-75% less than what they would in the United States, Western Europe, or Australia. Though it's hard to give an exact figure due to variations in individual cases, it's safe to say that financial savings are a major pull factor for medical tourists considering Thailand.
Price Ranges
For example, a standard hip replacement surgery might cost upwards of $40,000 in the United States but can be as low as $15,000 in Thailand. Likewise, simple dental procedures can cost a fraction of what they would in Western countries, sometimes even below $100, depending on the complexity of the procedure.
Quality & Safety
Medical standards and practices.
Thailand is renowned for its high medical standards, comparable to those in developed Western countries. Many Thai doctors and medical staff have received training in Europe or North America and are fluent in English, ensuring effective communication during consultations and treatments.
Accreditation Systems and Quality Checks
Several Thai hospitals have international accreditations that conform to global standards, although specifics cannot be provided here due to restrictions. These accreditations are testimony to the quality and safety measures in place.
Patient Safety and Rights
Thai hospitals take patient safety seriously. Protocols for hygiene, treatment, and aftercare are rigorously adhered to. Patients have the right to informed consent, confidentiality, and the ability to choose or change their healthcare providers.
Medical Visa Information
Guidelines and requirements.
To undergo medical treatment in Thailand, you'll generally need a medical visa, often termed as an "MT" visa. This visa is generally valid for 60 days and can be extended if necessary.
Duration, Documentation, and Process
To apply, you’ll need a passport with at least six months of remaining validity, recent passport-sized photographs, and a letter from the Thai hospital confirming your planned medical treatment. The approval process typically takes a few days to a week.
Cultural Considerations
Local customs and etiquette.
Thailand is known for its hospitality and friendliness. However, understanding basic Thai etiquette, such as not pointing your feet at people or religious objects, can be beneficial.
Language and Communication
English is widely spoken in medical institutions, though it's not the primary language of the country. Staff in major hospitals usually speak good to excellent English.
Dietary Considerations
Thai cuisine is rich and varied, but hospitals can accommodate a range of dietary restrictions including halal, kosher, and vegetarian diets.
Travel & Accommodation
Popular areas to stay.
Bangkok, Chiang Mai, and Phuket are popular cities where top medical facilities are located. Accommodation options range from budget hotels to luxury resorts.
Proximity to Medical Facilities
Most top-rated hospitals and clinics are centrally located and are easily accessible by public transport or taxi.
Recommendations for Relaxation
Thailand is famous for its beaches, mountainous regions, and cultural landmarks, making it ideal for post-procedure relaxation.
Legal & Ethical Considerations
Patient rights.
Patients have the right to confidentiality and informed consent. Laws are in place that allows patients to file complaints and receive fair hearings.
Medical Malpractice Laws
Malpractice laws exist but are not as patient-favorable as in some Western countries. Legal recourse is available but can be a lengthy process.
Benefits & Risks
Top-quality healthcare at a fraction of the cost, short waiting times, and a chance to recuperate in a beautiful country are some of the key benefits.
Language barriers outside the hospital environment and differences in legal protections are some risks to be aware of.
Post-procedure Care
Care details.
Post-operative care in Thailand is of high quality. Many hospitals offer tailored rehabilitation services, often in serene and luxurious settings.
Rehabilitation Centers
Specialized rehabilitation centers offer services in areas such as physiotherapy and occupational therapy, many of which are located close to major hospitals.
Frequently Asked Questions (FAQs)
- Do Thai doctors speak English? - In major hospitals, yes.
- Is the cost of the flight included in the treatment package? - Generally, no.
- Can I extend my stay for tourism? - Yes, but visa rules must be observed.
- Is Thailand safe? - Generally, Thailand is considered safe for travelers, but general precautions should be taken.
Located on South East Asia’s Indochina Peninsula and known for its tropical beaches, opulent royal palaces, ancient ruins and ornate Buddha temples, the Kingdom of Thailand is a developing destination with a population of approximately 67 million. Its economy is ranked 30th in the world by nominal GDP and has been classified as a newly industrialized destination, thanks to having outpaced other developing nations in a macroeconomic sense. Tourism is a major economic factor in Thailand, as it welcomes more than 25 million people annually. Its pristine beaches and tropical wet climate, along with its weak currency make Thailand an attractive destination for many vacationers looking to extend its visiting time versus what the same amount of money can get them in other destinations. The government oversees the healthcare and medical services, with universal healthcare being provided through three programs that should cover its entire population of citizens and legal residents. The private healthcare sector is also big in Thailand, with many new hospitals and medical facilities taking advantage of the economic conditions and the weak currency in order to attract more medical tourism business.It is interesting to see how Thailand’s scores and ranks in the medical tourism index vary between each other. The destination’s environment factor came back below average, getting only to 27th position, as its outside image, cultural match and the political environment are not helping this pro tourist nation. Of course, Thailand is an attractive destination and an affordable one, too, making the medical and tourism industry factors score well above average, and ranking 6th. Finally the quality of its facilities and services factor ended up scoring above average due to the efforts placed in gaining international certifications for its main facilities and the quality of its medical staff. All in all, the Kingdom of Thailand is becoming a thriving medical tourism destination benefiting from Asia’s growing population looking for cheaper treatments elsewhere but on close distance. It ranks 18th overall out of the 41 nations participating in the Index and can boost its medical tourism business by working on its image as a stable and safe destination (reputations), while also focusing on adapting to the cultural preferences of incoming patients.
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Thailand's climate is tropical with a mean annual temperature of 82°F and high humidity. There are three distinct seasons – the hot season from March to May, the cool season from November to February and the rainy season from about June to October.
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MedicalTourism.com
MedicalTourism.com is a free, confidential, independent resource for patients and industry providers. Our mission is to provide a central portal where patients, medical tourism providers, hospitals, clinics, employers, and insurance companies can all find the information they need. Our site focuses on patients looking for specific knowledge in the fields of medical tourism, dental tourism, and health tourism.
Bright growth opportunities for Thai medical tourism sector
In 2021, thailand’s medical tourism industry ranked 5th globally, generating approximately 11.9 billion baht in revenue from foreign patients, a 47% increase over pre-covid days..
There are several factors for the country's success in this sector, namely:
1. Medical expertise: Thailand boasts more than 50 hospitals accredited by the Joint Commission International (JCI), the most in ASEAN. The country provides modern medical technologies, ensuring swift and effective treatments.
2. Affordability: Thailand offers reasonably priced healthcare services, attracting a considerable number of international patients seeking treatments such as health check-ups, bone and joint procedures, metabolic treatments, and dental care.
3. Specialised Services: The nation excels in various medical fields, including cardiology, oncology, orthopaedics, and neurology.
4. Professional workforce: Thailand's medical professionals are highly skilled, both in medical treatments and aesthetic procedures. Their expertise, combined with the unique Thai hospitality, enhances the overall patient experience.
5. Post-Covid opportunities: Thailand relaxed its travel restrictions as the pandemic tapered off, inviting international patients back. The country's diverse offerings, including its renowned cuisine, traditional massages, beach activities, and historical sites, make it an attractive destination.
To further promote Thailand as a Medical Hub, the government has outlined a comprehensive strategy (2017-2026) focusing on several key areas. These include enhancing competitiveness in healthcare services; developing medical treatment services; promoting health and wellness services; advancing traditional and alternative medicine services; elevating academic and medical research services; improving pharmaceuticals and health product manufacturing; and boosting marketing and public relations efforts.
The Health & Wealth Expo 2023 on the theme “The Journey of Life” will further underline Thailand’s medical tourism appeal. Organised by the Nation Group and taking place from November 9 to 12 at the Queen Sirikit National Convention Centre, it will feature a special discussion titled “Road Map to Thailand Medical Hub”, forums on health trends in 2024, herbal medicine, economic opportunities in the Thai health sector, and comprehensive discussions on breast cancer. The expo aims to showcase how Thailand, with its unique healthcare and wellness offerings, can cater to people’s health needs comprehensively.
Thailand's medical tourism industry continues to grow, offering high-quality healthcare services, skilled professionals, and diverse attractions for international patients. As the country embraces post-COVID opportunities, it remains among the top choices for those seeking medical treatments combined with a unique cultural experience, says Dr Sura Wisetsak, director-general of the Department of Health Services Support.
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Medical Tourism Market Size, Share & Trends Analysis Report By Country (Thailand, India, Mexico, Costa Rica, Malaysia, Singapore, Brazil, Colombia, Turkey, Taiwan, South Korea, Spain, Czech Republic, China), And Segment Forecasts, 2022 - 2030
- Table of Contents
- Description
- Related Reports
- Turkey was one of the notable markets in terms of revenue in 2021, owing to the high quality of health services and a high number of patient arrivals in the country
- The Thailand medical tourism market is anticipated to grow at a significant rate. Popular destinations in Thailand are Bangkok, Phuket, Pattaya, Chiang Moi, Samui, and Hua Hin. Around 62% of travelers visit Bangkok, nearly 15% visit Phuket, and 11% visit Pattaya
- Singapore is a major medical tourism destination on the global stage. The country is ranked second in the Medical Tourism Index by the Medical Tourism Association, behind Canada. Singapore's private hospitals provide superior healthcare services through the use of highly trained specialists and state-of-the-art infrastructure
- Singapore, Colombia, Taiwan, and Spain are among the leading destinations with the highest growth rates. Medical tourism is a significant source of revenue for several countries. They have a sophisticated healthcare infrastructure and a qualified workforce that enables them to serve foreign patients
- Thailand is a popular destination for cosmetic procedures, while India is the preferred destination for cardiothoracic and orthopedic procedures. Dental operations are favored in Brazil and Costa Rica
Chapter 1 Report Objectives and Scope 1.1 Research Objectives 1.1.1 Objective - 1 1.1.2 Objective - 2 1.2 Estimates and Forecast Timeline Chapter 2 Methodology 2.1 Research Methodology 2.2 Information Procurement 2.2.1 Purchased Database 2.2.2 Gvr’s Internal Database 2.2.3 Secondary Sources 2.2.4 Primary Research 2.2.5 Details Of Primary Research 2.3 Information or Data Analysis 2.3.1 Data Analysis Models 2.4 Market Formulation & Validation 2.5 Model Details 2.5.1 Volume Price Analysis 2.6 List of Secondary Sources 2.7 List of Abbreviations Chapter 3 Market Variables, Trends & Scope 3.1 Parent Market Outlook 3.2 Market Dynamics 3.2.1 Market Driver Analysis 3.2.1.1 High cost of medical treatments in developed countries 3.2.1.2 Limited insurance coverage in some countries attracts patients to medical tourism destinations 3.2.1.3 Longer waiting time in developed countries 3.2.2 Market Restraint Analysis 3.2.2.1 Follow-Up problems 3.2.2.2 Medical risks associated with medical tourism Chapter 4 Medical Tourism Market: Country Estimates & Trend Analysis 4.1 Thailand 4.1.1 Thailand Medical Tourism Market, 2016 - 2030 (USD Million) 4.1.2 Inbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.1.3 Inbound Patient Traffic Analysis, 2016 - 2030 (Number Of Patients) 4.1.4 Inbound Patient Analysis, 2019 (%) (Patient Origin) 4.1.5 Outbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.1.6 Outbound Patient Traffic Analysis, 2019 (Number Of Patients) 4.1.7 Average Spend Per Patient, 2019 4.1.8 COVID-19 Impact On Thailand Medical Tourism Market 4.2 India 4.2.1 India Medical Tourism Market, 2016 - 2030 (USD Million) 4.2.2 Inbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.2.3 Inbound Patient Traffic Analysis, 2016 - 2030 (Number Of Patients) 4.2.4 Inbound Patient Analysis, 2019 (%) (Patient Origin) 4.2.5 Outbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.2.6 Outbound Patient Traffic Analysis, 2019 (Number Of Patients) 4.2.7 Average Spend Per Patient, 2019 4.2.8 COVID-19 Impact On India Medical Tourism Market 4.3 Costa Rica 4.3.1 Costa Rica Medical Tourism Market, 2016 - 2030 (USD Million) 4.3.2 Inbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.3.3 Inbound Patient Traffic Analysis, 2016 - 2030 (Number Of Patients) 4.3.4 Inbound Patient Analysis, 2019 (%) (Patient Origin) 4.3.5 Outbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.3.6 Outbound Patient Traffic Analysis, 2019 (Number Of Patients) 4.3.7 Average Spend Per Patient, 2019 4.3.8 COVID-19 Impact On Costa Rica Medical Tourism Market 4.4 Mexico 4.4.1 Mexico Medical Tourism Market, 2016 - 2030 (USD Million) 4.4.2 Inbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.4.3 Inbound Patient Traffic Analysis, 2016 - 2030 (Number Of Patients) 4.4.4 Inbound Patient Analysis, 2019 (%) (Patient Origin) 4.4.5 Outbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.4.6 Outbound Patient Traffic Analysis, 2019 (Number Of Patients) 4.4.7 Average Spend Per Patient, 2019 4.4.8 COVID-19 Impact On Mexico Medical Tourism Market 4.5 Malaysia 4.5.1 Malaysia Medical Tourism Market, 2016 - 2030 (USD Million) 4.5.2 Inbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.5.3 Inbound Patient Traffic Analysis, 2016 - 2030 (Number Of Patients) 4.5.4 Inbound Patient Analysis, 2019 (%) (Patient Origin) 4.5.5 Outbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.5.6 Outbound Patient Traffic Analysis, 2019 (Number Of Patients) 4.5.7 Average Spend Per Patient, 2019 4.5.8 COVID-19 Impact On Malaysia Medical Tourism Market 4.6 Singapore 4.6.1 Singapore Medical Tourism Market, 2016 - 2030 (USD Million) 4.6.2 Inbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.6.3 Inbound Patient Traffic Analysis, 2016 - 2030 (Number Of Patients) 4.6.4 Inbound Patient Analysis, 2019 (%) (Patient Origin) 4.6.5 Outbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.6.6 Outbound Patient Traffic Analysis, 2019 (Number Of Patients) 4.6.7 Average Spend Per Patient, 2019 4.6.8 COVID-19 Impact On Singapore Medical Tourism Market 4.7 Brazil 4.7.1 Brazil Medical Tourism Market, 2016 - 2030 (USD Million) 4.7.2 Inbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.7.3 Inbound Patient Traffic Analysis, 2016 - 2030 (Number Of Patients) 4.7.4 Inbound Patient Analysis, 2019 (%) (Patient Origin) 4.7.5 Outbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.7.6 Outbound Patient Traffic Analysis, 2019 (Number Of Patients) 4.7.7 Average Spend Per Patient, 2019 4.7.8 COVID-19 Impact On Brazil Medical Tourism Market 4.8 Colombia 4.8.1 Colombia Medical Tourism Market, 2016 - 2030 (USD Million) 4.8.2 Inbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.8.3 Inbound Patient Traffic Analysis, 2016 - 2030 (Number Of Patients) 4.8.4 Inbound Patient Analysis, 2019 (%) (Patient Origin) 4.8.5 Outbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.8.6 Outbound Patient Traffic Analysis, 2019 (Number Of Patients) 4.8.7 Average Spend Per Patient, 2019 4.8.8 COVID-19 Impact On Colombia Medical Tourism Market 4.9 Turkey 4.9.1 Turkey Medical Tourism Market, 2016 - 2030 (USD Million) 4.9.2 Inbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.9.3 Inbound Patient Traffic Analysis, 2016 - 2030 (Number Of Patients) 4.9.4 Inbound Patient Analysis, 2019 (%) (Patient Origin) 4.9.5 Outbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.9.6 Outbound Patient Traffic Analysis, 2019 (Number Of Patients) 4.9.7 Average Spend Per Patient, 2019 4.9.8 COVID-19 Impact On Turkey Medical Tourism Market 4.10 Taiwan 4.10.1 Taiwan Medical Tourism Market, 2016 - 2030 (USD Million) 4.10.2 Inbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.10.3 Inbound Patient Traffic Analysis, 2016 - 2030 (Number Of Patients) 4.10.4 Inbound Patient Analysis, 2019 (%) (Patient Origin) 4.10.5 Outbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.10.6 Outbound Patient Traffic Analysis, 2019 (Number Of Patients) 4.10.7 Average Spend Per Patient, 2019 4.10.8 COVID-19 Impact On Taiwan Medical Tourism Market 4.11 South Korea 4.11.1 South Korea Medical Tourism Market, 2016 - 2030 (USD Million) 4.11.2 Inbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.11.3 Inbound Patient Traffic Analysis, 2016 - 2030 (Number Of Patients) 4.11.4 Inbound Patient Analysis, 2019 (%) (Patient Origin) 4.11.5 Outbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.11.6 Outbound Patient Traffic Analysis, 2019 (Number Of Patients) 4.11.7 Average Spend Per Patient, 2019 4.11.8 COVID-19 Impact On South Korea Medical Tourism Market 4.12 Czech Republic 4.12.1 Czech Republic Medical Tourism Market, 2016 - 2030 (USD Million) 4.12.2 Inbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.12.3 Inbound Patient Traffic Analysis, 2016 - 2030 (Number Of Patients) 4.12.4 Inbound Patient Analysis, 2019 (%) (Patient Origin) 4.12.5 Outbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.12.6 Outbound Patient Traffic Analysis, 2019 (Number Of Patients) 4.12.7 Average Spend Per Patient, 2019 4.12.8 COVID-19 Impact On Czech Republic Medical Tourism Market 4.13 Spain 4.13.1 Spain Medical Tourism Market, 2016 - 2030 (USD Million) 4.13.2 Inbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.13.3 Inbound Patient Traffic Analysis, 2016 - 2030 (Number Of Patients) 4.13.4 Inbound Patient Analysis, 2019 (%) (Patient Origin) 4.13.5 Outbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.13.6 Outbound Patient Traffic Analysis, 2019 (Number Of Patients) 4.13.7 Average Spend Per Patient, 2019 4.13.8 COVID-19 Impact On Spain Medical Tourism Market 4.14 Australia 4.14.1 Australia Medical Tourism Market, 2016 - 2030 (USD Million) 4.14.2 Inbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.14.3 Inbound Patient Traffic Analysis, 2016 - 2030 (Number Of Patients) 4.14.4 Inbound Patient Analysis, 2019 (%) (Patient Origin) 4.14.5 Outbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.14.6 Outbound Patient Traffic Analysis, 2019 (Number Of Patients) 4.14.7 Average Spend Per Patient, 2019 4.14.8 COVID-19 Impact On Australia Medical Tourism Market 4.15 China 4.15.1 China Medical Tourism Market, 2016 - 2030 (USD Million) 4.15.2 Inbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.15.3 Inbound Patient Traffic Analysis, 2016 - 2030 (Number Of Patients) 4.15.4 Inbound Patient Analysis, 2019 (%) (Patient Origin) 4.15.5 Outbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.15.6 Outbound Patient Traffic Analysis, 2019 (Number Of Patients) 4.15.7 Average Spend Per Patient, 2019 4.15.8 COVID-19 Impact On China Medical Tourism Market 4.16 Indonesia 4.16.1 Indonesia Medical Tourism Market, 2016 - 2030 (USD Million) 4.16.2 Inbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.16.3 Inbound Patient Traffic Analysis, 2016 - 2030 (Number Of Patients) 4.16.4 Inbound Patient Analysis, 2019 (%) (Patient Origin) 4.16.5 Outbound Treatments/Procedures Analysis, 2019 (Type Of Procedures) 4.16.6 Outbound Patient Traffic Analysis, 2019 (Number Of Patients) 4.16.7 Average Spend Per Patient, 2019 4.16.8 COVID19 Impact On Indonesia Medical Tourism Market
Tourism Market in Costa Rica 2024-2028
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Medical Tourism in Thailand: A Multi-Billion-Dollar Blue Ocean
![medical tourism market size thailand medical tourism market size thailand](https://www.blueoceanstrategy.com/wp-content/uploads/2022/01/Blue-Ocean-Avatar-96x96.png)
Written by Blue Ocean Contributors
Written by J. Rae Cho & Tim Polkowski, Value Innovation Group
Medical Tourism in Thailand
Medical tourism, a combination of tourism and medical treatment, has become its own industry and grown rapidly thanks to the blue ocean approach taken by a couple of healthcare players and savvy governments. As a result, Thailand has succeeded in positioning itself as a top destination for medical tourism. It became a #1 medical tourism destination by volume of care in 2014 and attracted over 2.4 million foreign patients in 2017, while Thai hospitals such as Bumrungrad International hospital and Bangkok hospitals have emerged as industry leaders with impressive growth and profits.
Bumrungrad Hospital Medical Tourism
Bumrungrad International Hospital, for example, has grown to become the largest private hospital in Southeast Asia with revenues of over US$540 million and a net margin of over 20%, the highest among Thai private hospitals.
![Thailand_Bangkok_Bumrungrad_International_Hospital_Campus medical tourism market size thailand](https://www.blueoceanstrategy.com/wp-content/uploads/2021/09/Thailand_Bangkok_Bumrungrad_International_Hospital_Campus.jpeg)
Bumrungrad International Hospital, Bangkok, Thailand
Medical Tourism in Thailand: How did Thailand create its blue ocean?
To create this blue ocean in medical tourism Thai hospitals and policymakers depended on two crucial insights;
1. To create huge market opportunities they had to look beyond existing demand from healthcare customers to the noncustomers of the healthcare industry, and;
2. To convert noncustomers into new customers they had to address pain points that were preventing people from choosing Thailand as a healthcare destination.
Identifying new demand – the Three Tiers of Noncustomers
They recognized that demand for private medical services in the domestic market was limited but also realized there is huge unmet demand for affordable, quality medical services globally.
Many people in advanced countries struggled to find affordable medical care, such as in the United States where there are 40 million people who cannot afford to receive necessary treatment. On the other hand, affluent citizens from less developed countries could afford to pay for services but high-quality medical services were not readily available locally. Using Chan Kim & Renee Mauborgne’s Three Tiers of Noncustomers , we can identify the major categories that make up the ocean of noncustomers to the private hospital industry that could be tapped to unlock new demand.
![thai-medical-tourism-noncustomer Noncustomers of the Private Hospital Industry](https://www.blueoceanstrategy.com/wp-content/uploads/2021/09/thai-medical-tourism-noncustomer.jpeg)
The three tiers use successively wider lenses to view the ocean of noncustomers that could be tapped to unlock new demand. Once the new demand has been identified, the next question was how to convince these people to come to Thailand for medical services. Why are they noncustomers? What pain points were stopping them from being part of the industry?
Converting noncustomers into customers – Buyer Utility Map
For many people, the thought of travelling to Thailand for medical care was beyond their imagination. Medical services may be cheap in Thailand, but could the quality be trusted? How would somebody even go about figuring out all the details for accommodations, meals, transport, etc. that are not part of the medical procedure? These were major concerns and pain points of noncustomers , and only by addressing them in a holistic and systematic manner, a mass of medical tourists could be attracted to the country to receive care.
To see how these pain points were addressed to deliver exceptional utility that converted noncustomers to customers in Thailand, we can use Chan Kim & Renee Mauborgne’s Buyer Utility Map . The map outlines the stages of the typical noncustomer’s , or buyer’s, experience (the horizontal axis on top) and the levers that can be pulled to deliver exceptional utility to buyers (the vertical axis on the left). The figure below is the depiction of Buyer Utility Map for Bumrungrad International Hospital.
Bumrungrad International Hospital’s Buyer Utility Map
![Bumrungrad International Hospital’s Buyer Utility Map Bumrungrad International Hospital’s Buyer Utility Map](https://www.blueoceanstrategy.com/wp-content/uploads/2021/09/buyer-experience-cycle-resize.jpeg)
To be recognized as a high-quality medical institution to attract foreign patients, Bumrungrad hospital focused its resources on getting internationally recognized accreditation which was successfully obtained in 2002 from the US-based Joint Commission International. It was the first hospital in Asia to achieve this distinction.
To further mitigate perceived risks associated with foreign hospitals, Bumrungrad hospital brought in Thai nationals who had studied and practiced medicine in the US in addition to setting up 40 referral offices worldwide where potential patients could visit and get detailed information on their treatment plans.
At the hospital, guides who speak the patient’s language, accompany them throughout their visit, directing them to doctors’ offices, tests, and dispensaries as necessary, so that they do not lose time or get lost. Waiting times are kept to a minimum, and results of tests are quickly obtained. Diagnoses and treatment procedures are therefore quickly determined, and the patients spared long periods of anxious waiting for results.
Beyond assuring the quality and efficiency of medical services, the hospital offers end-to-end services that include travel arrangements, visa extension services, airport transfer, interpreting, shopping, and tourism activities to ensure their clients have a smooth and enjoyable experience.
Lastly, Bumrungrad hospital has agreements with many insurance companies in other countries and provides direct billing or reimbursed billing services to patients. This has drastically simplified the payment process of medical treatment and ensured transparency in their bills. What happened when Bumrungrad International Hospital addressed all these pain points? It created demand and attracted new customers – a lot of them. The hospital now serves over 520,000 foreign patients annually.
The medical tourism industry turning red with competition
Thailand made a blue ocean shift in the medical tourism industry to its great benefit, but such a lucrative and growing market has attracted the interest of governments and healthcare providers across the globe. The once blue waters are turning increasingly bloody with competition. While Thailand is well positioned in the industry to continue to profit for years to come, its ability to drive growth and profitability will become increasingly difficult as more and more competitors enter the market. For companies and policymakers alike, this then begs the question – where’s the next blue ocean of growth and profitability? That’s the (multi) billion-dollar question.
![Medical tourism in Thailand is a blue ocean. Medical tourism in Thailand is a blue ocean.](https://www.blueoceanstrategy.com/wp-content/uploads/2021/09/thailand-medical-tourism-2018.jpeg)
Medical tourism in Thailand is a blue ocean.
A different ocean of noncustomers waiting to be served – the next blue ocean industry?
What can we learn from Thailand’s blue ocean move in medical tourism ? Can the same logic and lessons be applied to other industries and groups of noncustomers? We think so.
It can be done for one of the fastest-growing groups of people in the world, many of whom have multiple unmet needs and have the willingness and means to pay for a solution – retirees and the elderly. Populations in countries across the globe are ageing quickly, and as policymakers and businessmen have recognized the world over, new solutions are needed to cater to their needs. Like the private medical industry, imagine how many noncustomers there are of the existing retirement industry.
How many are frustrated with the cost or level of service of local retirement services? How many cannot afford services or decide to forego retirement altogether to work for a modest wage? The number of noncustomers of the private medical industry was huge, but the number of noncustomers of the retirement industry is even bigger.
And while there are increasing numbers of retirees going abroad for retirement, the majority have not yet made that leap as they have multiple concerns preventing them from trying out new retirement services. Just like medical tourists, there are multiple pain points that must be addressed before they are converted from noncustomers to customers.
But the opportunity is not going unnoticed. That may be why Boon Vasin, a Thai businessman, is investing US$500 million to establish a 5-acre ‘medical city’ for retirees on the outskirts of Bangkok. Or why Japanese companies have started exporting their elderly care model to Thailand.
The international retirement industry is relatively limited as of today but is poised to become a booming industry in the years to come. Rather than a question of when it is more of a question of who will figure out how to unlock the ocean of demand represented by noncustomers. Who will convert the noncustomers to paying customers by uncovering and addressing their hidden pain point? As with medical tourism , the tools are there, and we will soon see businesses and policymakers that make a blue ocean shift to grow and profit from this new multi-billion-dollar industry.
By J. Rae Cho & Tim Polkowski, Value Innovation Group
About the authors
Value Innovation Group (VIG) is a team of global blue ocean experts with vast experience in assisting organizations to shift from red oceans of cutthroat competition to blue oceans of new market space for rapid and profitable growth. VIG is a member of Blue Ocean Global Network, an international community of blue ocean practitioners.
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October 2023
Medical tourism, a practice in which people travel abroad for medical care with better value or higher quality than in their home country, has gained significant popularity in recent years, particularly in the Asia-Pacific region. Currently valued at around USD 111.3 billion , Asia Pacific’s medical tourism market size is forecasted to grow at a compound annual growth rate (CAGR) of around 15 percent until 2028.
This strong growth trajectory is based on the region’s combination of advanced medical facilities, skilled healthcare professionals, and cost-effective treatment options—all of which serve to make Asia Pacific an attractive medical tourism hub. Countries like Malaysia, Thailand, Japan, and Singapore are emerging as particular leaders in this domain, providing global visitors access to high-quality and innovative healthcare. Some of Asia Pacific’s territories also offer extensive and specialised elective medical treatment options, as exemplified by South Korea’s beauty sector.
In this article, we explore several of Asia Pacific’s popular medical tourism destinations and their key medical specialties, then taking a deeper look at current trends regarding medical tourism for elective procedures.
Medical tourism for essential treatments
The Asia Pacific region offers a variety of excellent options for medical tourism at different tiers of expense or areas of expertise, widening access to essential medical procedures and treatments. Highlights include:
With 1.22 million medical travellers in 2019 and a variety of accolades including “Health and Medical Tourism: Destination of the Year” at the 2020 International Medical Travel Journal (IMTJ) Medical Travel Awards, Malaysia has emerged as a prominent global hub for medical tourism. The country’s ability to provide exceptional healthcare services at cost-effective rates has been a major draw for international patients, particularly those from neighbouring countries such as Indonesia.
Malaysia offers a diverse range of medical services encompassing various specialties, including cardiology, oncology, orthopaedics, fertility treatments, cosmetic surgery, and dentistry. Among these various services, Malaysia is well-known for its cardiology and fertility treatments, boasting over 33 advanced heart treatment centres, including the renowned National Heart Institute.
To enhance the experience of the growing number of medical tourists seeking high-quality care, the National Heart Institute has established its International Patient Centre (IPC). The IPC provides comprehensive services, including visa and immigration assistance, pre-departure and post-treatment coordination, secure transfer of health data, and insurance claims facilitation. Moreover, the IPC has expanded its reach by establishing liaison offices in Myanmar, Cambodia, and Indonesia, further promoting Malaysia as the premier destination for medical tourism.
Malaysia’s commitment to excellence in healthcare, combined with its strategic initiatives for catering to the needs of international patients, has solidified its position as a leading destination for medical travellers seeking world-class medical treatments and a seamless healthcare experience.
Thailand has consistently demonstrated its prominence in the field of medical tourism, securing a spot among the top five markets for Destination Attractiveness and Medical Tourism Cost factors in the Medical Tourism Index (MTI) 2020-2021 Global Destination ranking. Renowned for its exceptional healthcare offerings, Thailand’s industry is experiencing a robust growth trajectory, with projections indicating a significant post-pandemic rebound in 2023. According to estimations by Siam Commerce Bank’s Economic Intelligence Center (SCB EIC), the Thai medical tourism market is expected to surpass its 2019 figure this year, reaching a valuation of THB 2 billion (USD 55.2 million).
Thailand’s robust medical tourism growth has been fuelled by its competitive advantage regarding affordable medical expenses. With healthcare costs in Thai hospitals averaging 50-80 percent lower than in the United States, Canada, and the EU, the country presents an appealing proposition for tourists seeking medical treatment. At the same time, Thailand’s services are also very high-quality. Thailand houses the biggest private hospital in Asia, which was also the first Asian hospital to receive ISO 9001 certification and approval from Joint Commission International (JCI), important quality benchmarks. 37 top private institutions have also now received JCI accreditation.
Thailand also differentiates itself as a leading medical tourism destination by offering a wide variety of medical services and procedures that are not commonly provided in other countries. These offerings include cosmetic surgery, gender reassignment surgeries, regenerative medicine, and stem cell therapies. Serving as a leader in pioneering treatments, Thailand provides these specialised services in state-of-the-art centres equipped with cutting-edge expertise and facilities.
Medical tourism in Japan is currently undergoing a significant transformation. The nation previously launched a plan to establish itself as a premier Asian medical care destination by 2020, with an ambitious goal of attracting around 430,000 international patients annually, though these aims were curtailed by the pandemic. With the pandemic subsided, Japan is now working again to promote its burgeoning medical tourism sector.
The country’s healthcare system ranks among the most advanced and sophisticated globally, offering renowned expertise and state-of-the-art technology across various medical fields. Notably, oncology treatments and cardiovascular procedures have become particularly attractive to overseas patients, thanks to Japan’s specialisation in heavy particle radiotherapy, regenerative medicine, and robot-assisted surgeries.
To support its medical tourism industry, the Japanese government has implemented several policies. Of notable mention is the introduction of medical visas in 2011, allowing visitors to access treatment, health check-ups, and opportunities for sightseeing, thus rendering Japan an alluring destination for medical tourists.
These endeavours, coupled with Japan’s renown for cutting-edge treatments, cleanliness, and advanced medical technologies, firmly position the nation as a formidable contender in the global medical tourism industry in the coming years.
According to the World Health Organisation, Singapore’s highly efficient healthcare system has ranked it as one of the top systems in Asia and the sixth globally, making it an attractive destination for cutting-edge medical tourism.
Indonesia is the leading source market for Singapore’s medical tourism, accounting for approximately 60 percent of the market share, followed closely by Malaysia and China. Singapore’s dominance in this sector is supported by a range of policies aimed at simplifying and enhancing the medical tourism experience for international patients.
In addition to continuously streamlining visa procedures for inbound medical seekers, Singapore offers a diverse array of wellness and post-treatment activities, including luxurious accommodations, spas, and cultural experiences, all thoughtfully tailored to meet the unique needs of medical tourists.
Singapore has also established International Patient Service Centres (IPSCs) that function as specialised “medical travel agencies.” These IPSCs are intricately linked to hospitals and serve as dedicated resources for medical tourists and expatriate patients, providing information, assistance, hospital pricing, and coordination of appointments with healthcare providers.
Singapore will remain a popular medical destination for wealthy patients from neighbouring Asian countries, including China, Indonesia, and India, even though it faces competition from Malaysia and Thailand, nearby destinations that can provide more affordable costs for healthcare, travel, and accommodations.
Medical tourism for elective treatments
Medical tourism in South Korea has developed into a booming industry in recent years, though with a unique slant oriented toward elective treatments to enhance physical beauty. In a country that places great cultural value on personal appearance, these procedures include not only plastic surgery, which makes up the bulk of the medical tourism industry, but also hair transplants, dermatology, optometry, and dentistry.
An economic downturn in 2007 left South Korea with an oversupply of doctors specialising in the cosmetic field. The intense competition pushed prices down and medical tourists from abroad became crucial in replenishing its customer base. The South Korean government pledged its support to the medical tourism industry, deeming it a focus area for growth—one of the country’s “strategic products”. It supported this goal by providing tax breaks and officially certifying selected medical tourism agencies. Currently, even non-Korean passport holders can benefit from tax refunds for cosmetic surgeries performed on Korean soil.
According to visitkorea.or.kr, South Korea represents 25 percent of the global medical beauty market, with many hospitals boasting state-of-the-art robotic technology to perform surgeries, and 3D modelling systems to visualise the final result. The country often attracts foreign tourists, especially influencers, that are chasing “K-beauty”, leading South Korea to earn itself a reputation as the “plastic surgery capital of the world”.
According to the Korea Health Industry Development Institute, the number of medical tourists visiting South Korea grew eightfold in ten years—from 60,000 in 2009 to nearly half a million in 2019. Foreign patients now make up almost half of all plastic surgeries performed in South Korea. A quick internet search brings up a plethora of medical tourism service providers that can assist prospective medical tourists along every single step of their journey—from pre-visit consultation at a hospital to assistance with medical visas, airport pickups, translation services, hotel bookings, and pampering services to help patients recover from their surgeries. Some medical tourism packages incorporate sightseeing or shopping tours after patients have recovered.
Ultimately, with signature procedures such as jawline surgery, South Korea has positioned itself as a true leader in this specialised industry and is currently benefiting from medical tourism as an important source of revenue for its economy.
Looking ahead
MNCs are well advised to monitor the growth of medical tourism in markets across the Asia Pacific region, where increasing scale and growing demand for innovative products and therapies promise significant opportunities in the coming years. As these territories continue to specialise in specific therapeutic areas or particular procedures, firms with relevant expertise stand to benefit greatly through greater engagement with diverse stakeholders and effective communication strategies.
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Visiting Thailand? The Government Covers Your Medical Bills for Accidents
Peden Doma Bhutia , Skift
June 25th, 2024 at 8:07 AM EDT
No one ever wants anything to go wrong while traveling, but if it does, Thailand has you covered.
Peden Doma Bhutia
Thailand on Monday announced the extension of its free insurance scheme for international tourists until the end of 2024. This initiative provides international tourists with medical coverage of up to THB 500,000 ($13,650) for accidents or natural disasters.
Earlier this year, the Thai government introduced the scheme with a budget of THB 50 million ($1.4 million) to cover medical expenses for tourists. The policy includes compensation of up to THB 1 million ($27,300) in the event of death, and up to THB 300,000 ($8,187) for incidents resulting in loss of organs or permanent disabilities.
The scheme was originally set to expire in August and has now been extended until December 31.
Rising Medical Costs
Thailand, a popular destination among backpackers and adventure enthusiasts, has faced challenges with tourists incurring substantial medical bills due to inadequate insurance coverage.
Through this insurance scheme tourists would be allowed to claim medical expenses within 15 days of an incident and the compensation is expected to be paid within 15 days thereafter.
While introducing the scheme in February this year, the tourism ministry had also launched the “Thailand Traveler Safety” system, enabling foreign tourists to register online for protection and coverage prior to entering the country.
The extension of this scheme comes in the wake of reports highlighting the need for comprehensive medical coverage for tourists. In December 2023, an Irish tourist hospitalized with sepsis and kidney failure after a mosquito bite faced a THB 6.6 million ($180,131) medical bill.
Tourism Target
Thailand aims to generate THB 3.5 trillion ($96 billion) in revenue this year, with THB 2.5 trillion ($68 billion) expected from international tourists. The country is working towards creating a new tourism ecosystem focused on high-value experiences and sustainable tourism, with a goal of having the industry account for 25% of GDP by 2027.
In 2023, international arrivals reached 28 million, still below the pre-pandemic record of 39.8 million. This year, Thailand aims to have 40 million foreign tourists.
In a bid to attract more tourists, Thailand recently announced a slew of visa measures. Earlier this month, the government also scrapped a proposal to impose a THB 300 ($8.20) tourism fee on international tourists arriving by air.
At the time of announcing the tourism fee the Thai government had said it intended to use the revenue from this fee to fund the tourism insurance scheme and alleviate its financial burden. The government has said it spends approximately THB 300 million-400 million ($8.2 million-$11 million) annually on healthcare for injured tourists.
Fighting Overtourism
However, alongside its ambitious goal of attracting 40 million tourists, Thailand faces the significant challenge of overtourism. Popular destinations like Bangkok, Phuket, and Chiang Mai often experience overcrowding, leading to strain on local infrastructure, environmental degradation, and diminished tourist experiences.
To avoid the pitfalls of overtourism, Thai Prime Minister Srettha Thavisin recently called on governors of 55 second-tier tourist provinces and Thai tourism authorities to develop infrastructure and tourism offerings in these areas.
As part of the “Ignite Thailand” vision, Thavisin emphasized the importance of promoting travel linkages between well-established and second-tier destinations. This strategy aims to distribute tourist crowds more evenly across the country, reducing pressure on popular hotspots while spreading the economic benefits of tourism to less-visited areas.
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Photo credit: Thailand on Monday announced the extension of its free insurance scheme for international tourists. Marco Nurnberger / Flickr Commons
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Global Medical Tourism Market By Service Type Medical Treatments (Cardiac Procedures, Oncology Procedures), Wellness Treatment (Cosmetic Procedures, Rejuvenation Procedures & Others), and Alternative Treatments, By Service Providers (Public and Private), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032
- Published date: Oct 2023
- Report ID: 63469
- Number of Pages: 209
- Table of Contents
- Major Market Players
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Report Overview
Key takeaways, service type analysis, service provider analysis, key market segments, opportunity, regional analysis, key players analysis, market key players, recent developments, report scope.
The global medical tourism market size is expected to be worth around USD 35.9 Bn by 2032 from USD 11.7 Bn in 2022 , growing at a CAGR of 12.2% during the forecast period from 2022 to 2032.
Medical Tourism can be defined as organized travels crosswise international borders to determine medical treatments of some forms which may or may not be available in the traveler’s home country. Medical tourists travel through international boundaries in request to preserve, improve, or enhance their health by using low-cost healthcare amenities and treatments that are not available in their own country.
Dental, neurological, and cardiovascular therapies are just a few medical procedures offered to tourists. Medical tourism affords several essential profits, containing improved hospitality, individualized care, cutting-edge technology, novel medicines, sophisticated devices, and better healthcare. Two factors likely to encourage market expansion are insufficient insurance profits and a lack of healthcare insurance in the local market.
The increasing demand for non-covered processes such as common removal surgery, reproductive therapy, dental reconstruction, and aesthetic surgery also aids the industry’s development. The reports divide the global medical tourism market into treatment types and services.
![medical tourism market size thailand medical tourism market value](https://market.us/wp-content/uploads/2023/02/medical-tourism-market-value-2.jpg)
- Market Growth: The global medical tourism market is growing with a CAGR of 12.20%.
- Definition: Medical tourism involves organized travel across international borders for medical treatments not readily available in the traveler’s home country, often driven by lower costs and advanced healthcare amenities.
- Service Types: The market is segmented into medical, wellness, and alternative treatments, with medical treatment dominating the global market due to increased demand for procedures like orthopedic, dental, spine, and cardiology.
- Service Providers: Private service providers hold a major revenue share, offering advanced medical facilities at a lower cost. Public providers face limitations in funding.
- Lower-cost surgeries abroad attract patients seeking affordable healthcare.
- Technological advancements and telehealth promote inbound medical travel.
- The COVID-19 pandemic disrupted international travel, affecting the medical tourism industry.
- Travel restrictions and healthcare uncertainties hindered growth.
- Opportunities: Digitalization of health services enhances cooperation with foreign organizations and improves surgical and diagnostic processes, driving market expansion.
- Increasing preference for cosmetic procedures, even amid the pandemic, contributes to market growth.
- High-quality care and skilled specialists in other countries attract patients.
- North America leads with 35% revenue share, driven by orthopedics and cardiology procedures. Europe follows due to growing medical infrastructure.
- Asia-Pacific is poised for significant growth, particularly in developing countries.
- Key Players: The market is fragmented with key players like Bumrungrad International Hospitals, Apollo Hospitals, Fortis Healthcare, and others implementing various growth strategies including mergers, acquisitions, and partnerships.
The medical tourism market has been segmented based on service type the global market is segmented based on service type into medical, wellness, and alternative treatments cosmetic , medical, and alternative treatment. The medical treatment section dominated the global market share during the forecast period. An increase in demand for medical processes such as orthopedic, dental, spine, and cardiology applies to the growth of the section.
Moreover, the accessibility of advanced services and facilities in developing nations, for instance, India, Singapore, Thailand, and others, etc., at a lower cost, supports tourists from high-income countries to enhance medical documents. The cardiovascular section of the market is anticipated to hold profitable shares during the forecast period. The segmental growth of the market is recognized as the increased dominance of several diseases across the globe. The proliferation dominance of chronic conditions will likely boost the demand for more progressive diagnoses and treatments at profitable costs.
Moreover, cancer treatment is an expensive and long-lasting procedure. Lower treatment costs in several countries drive market growth. Therefore, this will boost the segmental development of the market throughout the forecast period. Medical Tourists travel to receive medical treatments like neurological treatments, dental treatments, and cardiovascular treatments.
Based on service providers, the global market is divided into public and private. Among them, the private. The remote segment held the dominating major revenue share in the target market holds the dominating share market during the forecast period. The increasing number of private providers globally provides world-class medical facilities that attract tourists.
Accessibility of advanced medical organizations, digital systems, and value-based care at a lower cost is attributable to the authority of private providers in the market. Moreover, public providers are expected to observe slower progress owing to the absence of funding acknowledged for medical treatments in some countries. For example, Canadians choose private providers as the popular medical treatments are also unavailable in public hospitals.
![medical tourism market size thailand medical tourism market](https://market.us/wp-content/uploads/2023/02/medical-tourism-market-1.jpg)
Based on the Service Type
- Cardiac Procedures
- Oncology Procedures
- Orthopedics and Spines
- Dental Procedures
- Cosmetic Procedures
- Rejuvenation Procedures
- Alternative Treatments
Based on Service Providers
Lower Cost Surgeries MayAccelerate Market Growth
The increased cost in developed countries is a major problem concern for healthcare providers and patients. AlsoIn addition, regulations enforced on healthcare systems by the government in various countries lead to interruptions of the procedures. This has advised people to travel abroad for medical care. According to the Medical and Health Tourism Congress, medical treatment is more inexpensive in Asian countries than in private hospitals in the US. Therefore, a greater rate of incoming health tourism in countries such as India, Thailand, and others for quick and lower-cost medical care is donated to the increasing number of surgeries. In addition, the low cost for advance surgery is the primary reason for market growth.
The increase in the cost of treatment in developed countries is a major significant factor in the migration of patients to other destinations. The increase in the availability of high medical medical-quality cardiovascular surgery, and dental surgery is one of the key factors which drive the growth of the medical tourism market. Therefore, the improvement of healthcare infrastructure and access to high high-quality healthcare services at reasonable prices are likely to drive a reasonable price and will likely drive the global medical tourism market in the near global market near in future.
Expansion of Inbound Medical Travel to Raised Boost Market Potential
Increasing technological advancement in healthcare industries in surgical processes, medical devices, and associated healthcare has brought the world closer to accepting enhanced medical facilities for value-based care. Information and Communication Technology, telehealth, and telemedicine have open access for patients globally to consult, book appointments with specialists, and receive quality care without hesitancy. This has led to an increase in the growth rate of inbound tourism in developing countries such as India and Thailand; hence the urge to receive less costly treatment and the availability of progressive medical structure is attributable to the extent of the global market.
Pandemic Outlook Subsequent in Travel Restraint to Obstruct Market Growth
Medical tourism is exclusively dependent on the travel facilities of one country to another. Furthermore, the pandemic incidence or strict regulation enforced by the country’s government to accept medical care away obstruct the market growth. This ultimately impacted the industry, thus limiting the market growth owing to the decline in the rate of medical technologies for international travelers. Such factors are, therefore, attributable to obstructing the market value during the forecast period.
Developed strategies Boost the Digitalization of Health Services in the Medical Tourism Industry
The majority of nations have developed strategies to boost the digitalization of healthcare services, which has resulted in a demand for the maximum highly regarded and effective treatment across all regions; As a result, cooperation with foreign organizations has increased, and the demand for medical tourism rises if surgical and diagnostic processes improve. The approval of connectivity technologies, digital platforms, and telemedicine is anticipated to determine market expansion.
Active Consumer’s Preference Towards Cosmetic Process to Increase Market Potential
Active consumer preference for cosmetic processes is the most important trend contributing to expanding the global medical tourism market. Demand for delayed or postponed functions during the widespread has increased as the number of COVID-19 cases has begun to decrease and travel restrictions have been lifted. Cosmetic procedures like body fat removal and acne treatment have increased the claim as people’s awareness of personal care and appearance has grown.
According to surgeons from the American Academy of Facial and Reconstructive Surgery (AAFPRS), around was an increase in the number of appointments and treatments for a facelift, eyelift, and other procedures despite the COVID-19 pandemic in July 2021. The availability of skilled specialists and high-quality care also impacts people’s preference for these procedures in other nations. As a result, it is predicted that this will positively impact the market’s expansion over the forecast period.
North America Dominates the Global Medical Tourism Market
Regarding the region, the global market can be sectioned into North America, Latin America, Eastern Europe, Western Europe, APAC, Middle South America, the Middle East & Africa. North America is accounted for the largest most significant share revenue of 35.0% during the forecast period. The market region is characterized by the greater rate of tourists visiting the US for medical treatments like such as orthopedics procedures, cardiology procedures, etc., leading to an increase in the revenue generation of the providers. Also, the country is well known for outbound tourism; it is also a preferred destination for medical treatments due to the improved hospital infrastructure attached to highly qualified experts.
Europe accounted for the top positioning in the market due to growing medical infrastructure and facilities for medical tourists in countries like the UK, and France. Asia-Pacific regions are expected to hold a major market share due to the preference for medical tourism across developing countries During the analysis period, Asia-Pacific is anticipated to grow at the highest CAGR, followed by LAMEASouth America. In addition, this market is expanding as a result of significant government investments in healthcare infrastructure.
![medical tourism market size thailand Medical Tourism Market Region](https://market.us/wp-content/uploads/2023/02/Medical-Tourism-Market-Region-1.jpg)
Key Regions
North America
Latin America
- Rest of Latin America
Eastern Europe
- The Czech Republic
- Rest of Eastern Europe
Western Europe
- Switzerland
- Rest of Western Europe
- South Korea
- Australia & New Zealand
- Philippines
- Rest of APAC
Middle East & Africa
- Saudi Arabia
- South Africa
- United Arab Emirates
- Rest of MEA
The market is very fragmented. The leading major players constantly implement various growth strategies to stay afloat in the market. To succeed in the fiercely competitive market, these leading players employ a variety of growth strategies, including product launches, innovations, mergers and acquisitions, partnerships, and extensive R&D. In order to provide industries with the most cost-effective and efficient solutions, the major market players are also constantly concentrating on research and development.
Various market players, including Bumrungrad International Hospitals, Apollo Hospitals, Fortis Healthcare, Asian Healthcare Institute, Bangkok Chain Hospitals, BB Healthcare Solutions, KPJ Healthcare Berhad, and Berkalp CO, Limited. Bumrungrad International Hospitals is one of the leading providers of medical services for international travelers. Such initiatives are likely to improve the medical tourism industry in countries. However, a strong emphasis on international tourists getting cosmetic treatments at a lower cost is expected to drive the value of service suppliers throughout the forecast period.
- Bumrungrad International Hospitals
- Apollo Hospitals
- Fortis Healthcare
- Asian Healthcare Institute
- Bangkok Chain Hospital
- KPJ Healthcare Berhad
- Livonta Global
- Gleneagles Hospitals
- BB Healthcare Solutions
- Berkalp CO. Limited
- Other Key Players
- In April 2022- The Tourism Authority of Thailand and Thai Air Asia combined to attract up to 1,000 package tours of medical and wellness segments from Cambodia. This derives from both entities’ purpose to attract the tourist market during the forecast period
- In March 2022-the Indian government aimed to upgrade medical tourism in Gujrat, India. Some of the Best medical treatments in Gujrat comprise IV fertilization, cardiology, dental care, and spine, care through the Indian system of medicines.
Frequently Asked Questions (FAQ)
Global market size is worth USD 41.67 billion by 2032.
In 2023, the market value stood at USD 13 billion.
The global medical tourism market is primarily driven by the increased demand for the cheap treatment for various chronic diseases available in the developing countries.
Bumrungrad International Hospitals,Apollo Hospitals ,Fortis Healthcare ,Asian Healthcare Institute ,Bangkok Chain Hospital ,KPJ Healthcare Berhad,Livonta,Gleneagles Hospitals ,BB Healthcare Solutions ,Berkalp CO. Limited ,Other Key Players
The Asia Pacific is also estimated to be the fastest-growing region during the forthcoming years.
![Medical Tourism Market Medical Tourism Market](https://market.us/wp-content/uploads/2023/01/Cover-Page.jpg)
- Bumrungrad International Hospitals
- Apollo Hospitals
- Fortis Healthcare
- Asian Healthcare Institute
- Bangkok Chain Hospital
- KPJ Healthcare Berhad
- Livonta Global
- Gleneagles Hospitals
- BB Healthcare Solutions
- Berkalp CO. Limited
- Other Key Players
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How Malaysia’s medical tourism can remain competitive amidst regional competition
Thailand and Singapore pose as strong competitors within the industry.
Malaysia continues to be an attractive destination for medical tourists due to its cost-effective healthcare and availability of advanced healthcare facilities, however, it is poised to face strong regional competition, according to a BMI report.
The report revealed that one competitor, particularly Thailand, has enacted initiatives to enhance their country’s medical tourism industry such as the recent memorandum of understanding (MoU) with Saudi Arabia and the government’s relaxing of medical visas in 2023.
Meanwhile, Singapore, which may struggle to compete in terms of offering affordable healthcare, may target patients seeking more complex procedures or those from developed markets for higher income returns.
To remain competitive, BMI predicts partnerships to remain a feature of Malaysia’s efforts to enhance its medical tourism industry, citing a recent collaboration between KPJ Healthcare and the Mayo Clinic care network.
“KPJ Healthcare, which operates 29 hospitals in Malaysia, announced that two of its hospitals had joined the Mayo Clinic care network,” BMI said.
The collaboration will enhance the healthcare services provided by the hospitals by leveraging Mayo Clinic’s knowledge and expertise and will help to attract patients seeking advanced medical care,” It added.
Moreover, Malaysian-based Sunway Healthcare group has also signed a partnership with PT JCB International Indonesia to attract more medical tourists from the country.
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COMMENTS
Lotus Medical International, World Medical and Surgical LLC, and MedEx Ventures Co. Ltd. are promising participants in the Thailand medical tourism industry. Thailand's Medical Tourism Industry is expected to reach US$ 66,104.90 million by 2034, growing at a CAGR of 15.7% during the forecast year of 2024 to 2034.
The Thailand medical tourism market size was estimated at USD 2.9 billion in 2023 and is projected to grow at a CAGR of 42.9% from 2024 to 2030. As healthcare technology advances, affordability increases and the demand for specialized treatments abroad increases, the Thailand medical tourism market is projected to expand. ...
In 2019, Thailand's medical tourism market drew more than 600,000 inbound tourists, logging a value of 1.8 billion US dollars. It is projected that this value will rise to 9.9 billion by 2023 and increase further to 24.4 billion by 2027. Treatments that medical tourists go to Thailand for range from major surgeries like heart bypass and hip ...
The sun-drenched shores of Thailand are beckoning not just for leisure travelers, but also for medical tourists seeking high-quality, affordable healthcare. FMI's latest research estimates the Thailand medical tourism market at a substantial USD 15,378.00 million in 2024, projected to surge to a staggering USD 66,104.90 million by 2034, reflecting a phenomenal CAGR of 15.7%. Are you ready to ...
Thailand Medical Tourism Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2024-2032. ... The Thailand Medical Tourism market is projected to witness substantial growth, driven by factors such as affordable treatment costs, shorter waiting times, internationally accredited ...
The global medical tourism market size was valued at USD 9.7 billion in 2022 and is expected to grow at a CAGR of 25.2% from 2023 to 2030. ... and lower treatment prices are contributing to the country's growth in health tourism. Thailand currently has over 400 private hospitals, a figure that is likely to increase substantially in the coming ...
Total market value of medical tourism expenses in Thailand from 2017 to 2022 with a forecast for 2023 (in billion Thai baht) [Graph], PPTV HD 36, March 2, 2023. [Online].
Thailand Medical Tourism Market grew in Market size from 2022. The Market is expected to reach USD 57.83 Billion by 2033, at a CAGR of 16.1% during the forecast period. What is the anticipated CAGR of the Thailand Medical Tourism Market?
Citing the 2023 Allied Market Research, BOT said that the value of global medical tourism would expand from 3.7 trillion baht to 8.5 trillion baht in 2027. Medical tourism in Thailand, meanwhile, is expected to grow from 310 billion baht to 760 billion baht by 2027.
From policymakers to researchers and doctors, every party in the healthcare industry displayed Thailand's resilience to the world. Experts have estimated that in 2023, the size of the Thai medical tourism industry will exceed what it was in 2019 and will be valued at THB ฿2 billion (USD $56.4 million). They are optimistic about future ...
Thailand: Medical tourism profile. Overview. Inbound. Outbound. Environment . Overview. Inbound medical tourism 2019: 632,000: Inbound medical tourism 2020: Login to view: ... Medical tourism promotion. The country promotes medical and health tourism but is niche marketing to drive up income rather than just going for larger numbers.
Copied to Clipboard. In 2022, the market for medical travel is anticipated to grow to $5,687 million USD. The studies predict that medical tourism in Thailand will grow at a strong rate of 18.4%. 2% to 7% of the world's medical tourism business is represented by the total revenue of the Thai medical tourism industry.
Thailand Medical Tourism Market Outlook 8.1. Market Size and Forecast 8.1.1. Short Term 8.1.2. Medium Term 8.1.3. Long ... India Medical Tourism Market Size & Share: Industry Trends, 2022 - 2027: Mar 2020: Free Sample PDF: Malaysia Medical Tourism Market Share & Size: Report, 2022 - 2027: Mar 2020: Free Sample PDF: Turkey Medical Tourism Market ...
Siam Commercial Bank's Economic Intelligence Center has forecasted that Thailand's medical tourism market is valued at $829 million in 2023 and medical tourists from CLMV countries (Cambodia, Lao PDR, Myanmar, and Vietnam), the Middle East, and China are major sources of foreign patients. ... Total Market Size: 9,433: 9,517: 7,254: 7,617 ...
Medical Tourism Market Size, Share & Trends Analysis Report by Country (Thailand, India, Mexico, Costa Rica, Malaysia, Singapore, Brazil, Colombia, Turkey, Taiwan, South Korea, Spain, Czech Republic, China), and Segment Forecasts, 2022-2030 ... 4.1.1 Thailand Medical Tourism Market, 2016-2030 (USD Million) 4.1.2 Inbound Treatments/Procedures ...
Thailand Medical Tourism Market Revenue is expected to witness significant growth of US$57.49 Billion by 2033 and is set to hit a CAGR of 16.1% over the forecast period 2024-2033 [email protected] US: +1-347-460-2899 India: +91-959-915-8047
Health tourism in Thailand is a thriving industry that is being comprehensively promoted by the Thai public sectors. ... The state of medical tourism in Thailand; ... Wellness industry market size ...
According to SPER market research, 'Thailand Medical Tourism Market Size- By Treatment Type, By Services, By Tourist Type, By Tour Type, By Booking Channel- Regional Outlook, Competitive ...
Of course, Thailand is an attractive destination and an affordable one, too, making the medical and tourism industry factors score well above average, and ranking 6th. Finally the quality of its facilities and services factor ended up scoring above average due to the efforts placed in gaining international certifications for its main facilities ...
In 2021, Thailand's medical tourism industry ranked 5th globally, generating approximately 11.9 billion baht in revenue from foreign patients, a 47% increase over pre-Covid days. There are several factors for the country's success in this sector, namely: 1.
Medical Tourism Market Size, Share & Trends Analysis Report By Country (Thailand, India, Mexico, Costa Rica, Malaysia, Singapore, Brazil, Colombia, Turkey, Taiwan, South Korea, Spain, - Market research report and industry analysis - 31517746 ... 4.1.1 Thailand Medical Tourism Market, 2016 - 2030 (USD Million) 4.1.2 Inbound Treatments/Procedures ...
The medical tourism industry turning red with competition. Thailand made a blue ocean shift in the medical tourism industry to its great benefit, but such a lucrative and growing market has attracted the interest of governments and healthcare providers across the globe. The once blue waters are turning increasingly bloody with competition.
Medical tourism, a practice in which people travel abroad for medical care with better value or higher quality than in their home country, has gained significant popularity in recent years, particularly in the Asia-Pacific region. Currently valued at around USD 111.3 billion, Asia Pacific's medical tourism market size is forecasted to grow at ...
In December 2023, an Irish tourist hospitalized with sepsis and kidney failure after a mosquito bite faced a THB 6.6 million ($180,131) medical bill. Tourism Target. Thailand aims to generate THB ...
The global medical tourism market size is expected to be worth around USD 35.9 Bn by 2032 from USD 11.7 Bn in 2022, ... In April 2022- The Tourism Authority of Thailand and Thai Air Asia combined to attract up to 1,000 package tours of medical and wellness segments from Cambodia. This derives from both entities' purpose to attract the tourist ...
Thailand and Singapore pose as strong competitors within the industry. Malaysia continues to be an attractive destination for medical tourists due to its cost-effective healthcare and availability ...