Report on Market Overview

By TANMAY RAJGADKAR
Contact :- +917744082374
fa26.docplus@gmail.com
 Medical Tourism Industry
• About :-Medical tourism refers to people traveling abroad to obtain medical treatment. In the past, this usually referred to those who travelled
from less-developed countries to major medical centres in highly developed countries for treatment unavailable at home However, in recent
years it may equally refer to those from developed countries who travel to developing countries for lower-priced medical treatments. The
motivation may be also for medical services unavailable or non-licensed in the home country: There are differences between the medical
agencies (FDA, EMA etc.) world-wide, whether a drug is approved in their country or not. Even within Europe, although therapy protocols
might be approved by the European Medical Agency (EMA), several countries have their own review organizations in order to evaluate
whether the same therapy protocol would be "cost-effective", so that patients face differences in the therapy protocols, particularly in the
access of these drugs, which might be partially explained by the financial strength of the particular Health System.
 Global Medical Tourism Industry.
• Global Medical Tourism Market is valued at USD 82.27 Billion in 2017 and expected to reach USD 274.37 Billion by 2027 with a CAGR of 12.8%
over the forecast period.
• Global medical tourism market report is segmented on the basis of medical treatment, and regional & country level. Based upon medical
treatment medical tourism market is classified into cosmetology, dentistry, cardiology, orthopaedic surgery, neurology, and oncology.
• The regions covered in this Global Medical Tourism market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis
of country level, medical tourism market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East
Asia, GCC, Africa, etc.
 FACTORS:-
• Factors that have led to the increasing popularity of medical travel include the high cost of health care, long wait times for certain procedures,
the ease and affordability of international travel, and improvements in both technology and standards of care in many countries.The avoidance
of waiting times is the leading factor for medical tourism from the UK, whereas in the US, the main reason is cheaper prices abroad.
Furthermore, death rates even in the developed countries differ extremely, i.e. UK versus seven other leading countries, including the US.
• Many surgical procedures performed in medical tourism destinations cost a fraction of the price they do in other countries. For example, in the
United States, a liver transplant that may cost US$300,000, would generally cost about US$91,000 in Taiwan. A large draw to medical travel is
convenience and speed. Countries that operate public health-care systems often have long wait times for certain operations, for example, an
estimated 782,936 Canadian patients spent an average waiting time of 9.4 weeks on medical waiting lists in 2005.
 Indian Medical Tourism Industry
• Medical tourism is a growing sector in India. India is becoming the 2nd medical tourism destination after Thailand. Chennai is regarded as
"India's Health City" as it attracts 45% of health tourists visiting India and 40% of domestic health tourists.
• India is increasingly becoming popular with Africans seeking medical treatment overseas. Treatments are approved by the World Health
Organization (WHO) and the US Food and Drug Administration. Many patients from Africa prefer Apollo & Medical healthcare, which are
headquartered in Chennai in India's state of Tamil Nadu. Cosmetic surgery, bariatric surgery, knee cap replacements, liver transplants, and
cancer treatments are some of the most sought out medical tourism procedures chosen by foreigners.
 Growth
• India's medical tourism sector was expected to experience an annual growth rate of 30% from 2012, making it a $2 billion industry by
2015.As medical treatment costs in the developed world balloon—with the United States leading the way—more and more Westerners are
finding the prospect of international travel for medical care increasingly appealing. An estimated 150,000 of these travel to India for low-
priced healthcare procedures every year.
• Medical tourism is a growing sector in India. In mid–2020, India's medical tourism sector was estimated to be worth US$ 5–6 billion. In 2017,
495,056 patients visited India to seek medical care. According to a report from 2019 by the Federation of Indian Chambers of Commerce and
Industry and Ernst & Young, most of the medical tourist arrivals in India were from Southeast Asia, Middle East, Africa, and SAARC region.
India also receives significant number of medical tourists from Australia, Canada, China, Russia, the United Kingdom, and the United States.
The city of Chennai has come to known as the healthcare capital of India.
 Attractions:- Advantages of medical treatment in India include reduced costs, the availability of latest medical technologies, and compliance
on international quality standards, doctors trained in western countries including the United States and the United Kingdom, as well as
English-speaking personnel, due to which foreigners are less likely to face language barrier in India.
 Cost:-Most estimates found that treatment costs in India start at around one-tenth of the price of comparable treatment in the United States
or the United Kingdom. The most popular treatments sought in India by medical tourists are alternative medicine, bone-marrow transplant,
cardiac bypass, eye surgery, and hip replacement.
 Ease of travel:-The government has removed visa restrictions on tourist visas that required a two-month gap between consecutive visits for
people from Gulf countries which is likely to boost medical tourism. A visa-on-arrival scheme for tourists from select countries has been
instituted which allows foreign nationals to stay in India for 30 days for medical reasons. In 2016, citizens of Bangladesh, Afghanistan,
Maldives, Republic of Korea and Nigeria availed the most medical visas.
 Language:-Despite India's diversity of languages, English is an official language and is widely spoken by most people and almost universally
by medical professionals. In Noida, a number of hospitals have hired language translators to make patients from Balkan and African countries
feel more comfortable while at the same time helping in the facilitation of their treatment.
COST
 Revenue
• The key factors in Revenue Generation are Travel and Tour Operator, Indian Hospitals Small entrepreneurs, Tourist destination/place, Travel
Agents/ Local Tour Operators/Local Guide / Hotel / Market, Local Hotel ,Local market.
• Commission – The hospital will pay a fee to the facilitator for sending patients to them
• Revenue – The tourism company will decide the treatment cost of the patient. After the patient makes the payment to the company, it will
settle the bill with the hospital. The difference is the actual revenue earned by the company
• After surgery, people may want to go shopping in the city or even take a vacation. The medical tourism company can also charge a
commission for these activities.
o Types of Business Model that Medical tourism adopt are:-
1. Business to Customer
This model involves targeting patients through online marketing and connecting them to the provider. It is also known as direct to patient
model
2. Business to Business
This model involves doctors directly referring to other doctors or hospitals. It is also known as provider to provider model
3. Exporting Brand Presence
Exporting brand presence means bringing your brand to the patients directly. For example, many US hospitals want to mark their presence in
China
4. Payer Driven
In this model, a payer or employer who is looking to reduce the cost for their insureds will ask them to get medical care away from their
homes. The payer or employer may also give incentives for doing it
• Business Model

• EST.REVENUE by CUSOMERS
 Growth
• Asia pacific is expected to dominate the growth of medical tourism market, owing to factors such as growth in prevalence of chronic
diseases and surge in geriatric population. Nearly 300 million people suffering from chronic diseases in China.
• In Asia pacific chronic non-communicable disease prevalence will increase by at least 40% by 2030. Almost 80% of all deaths in people aged
60 years or over are attributable to chronic non-communicable disease. Additionally the North America is second most leading region for
the growth of this market, due to increasing prevalence of chronic diseases.
• Cardiovascular disease remains the leading cause of death in the United States, responsible for 840,768 deaths in 2016. Chronic diseases
affect approximately 133 million Americans, representing more than 40% of the total population of this country.
• By 2020, that number is projected to grow to an estimated 157 million, with 81 million having multiple conditions.
• In First World countries such as the United States, medical tourism has large growth prospects and potentially destabilizing implications. A
forecast by Deloitte Consulting published in August 2008 projected that medical tourism originating in the US could jump by a factor of ten
over the next decade.
• An estimated 750,000 Americans went abroad for health care in 2007, and the report estimated that 1.5 million would seek health care
outside the US in 2008. The growth in medical tourism has the potential to cost US health care providers billions of dollars in lost revenue.
• SOME ARTICLES REGARDING MEDICAL TOURISM (CLICK )
• Medical tourism companies turn to telemedicine in wake of Covid-19
• India emerges as new destination for Russian medical tourists
• Medical tourism to keep pharma industry in good
Thank You!
Regard's,
TANMAY RAJGADKAR
fa26.Docplus@gmail.com