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India will receive nearly half a million medical tourists and the sector is set to garner a 30 per cent annual growth, according to Renub Research report titled "Asia Medical Tourism Analysis and Forecast to 2015”.
During the global economic slowdown when every other industry future seems bleak, medical tourism industry is the one sector whose present is bright and future seems even brighter. Asia is one of the first regions in the world to promote medical tourism and has created a brand name for itself for having affordable and high quality healthcare. Asia medical tourist number of arrivals is expected to cross the figure of 10 million numbers by 2015.
The report provides seven Asian Countries Medical Tourism Analysis Data covering India, Thailand, Singapore, Malaysia, Philippines, South Korea and Taiwan.
India was one of the first countries to recognize the potential of medical tourism. From the year 2009 to 2011 the number of medical tourists in India has grown by 30 per cent. It is estimated that by the year 2015, India will receive nearly half a million medical tourists annually, stated the report.
Asia medical tourism market is expected to double by 2015 from its current market in 2011. In our research of medical tourism analysis we found that out of seven countries three countries Thailand, India and Singapore is expected to control more than 80 per cent market share in 2015.
Thailand is the leader in medical tourist arrivals holding more than 40 per cent share in Asia medical tourist arrivals in 2011. Its medical tourism market is also expected to be more than double by 2015 from its current market in 2011.
Singapore medical facilities are considered to be the best in Asia but its treatment cost are bit costlier compared to its competitors. Singapore medical tourist arrivals are expected to be more than one million by 2015.
Philippines started off bit late for the medical tourism but are catching up quickly. Its medical tourism market is expected to grow with a CAGR of nine per cent for the period of 2012 – 2015.
South Korea is a fast-growing medical tourism destination. It is forecasted that by 2015, South Korea will attract more than 300 thousand medical tourists.
Malaysia has seen an impressive growth in medical tourism industry. Malaysia medical tourism market has grown more than eight times in 2011 compared to its market in 2003.
Taiwan medical tourism has become one of the biggest attractions for mid to high income Chinese tourists. The country’s medical tourism market is expected to increase at seven per cent CAGR from 2012 to 2015.
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