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Asia Medical Tourism Analysis and Forecast to 2015

Published: October, 2012

Copyright 2012 Renub Research All Rights Reserved

In this 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. 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 7 countries 3 countries Thailand, India and Singapore is expected to control more than 80% market share in 2015. Thailand is the leader in medical tourist arrivals holding more than 40% 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. 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%. It is estimated that by the year 2015, India will receive nearly half a Million medical tourists annually. 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 1 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 9% 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 8 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 countrys medical tourism market is expected to increase at 7% CAGR from 2012 to 2015.

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Renub Research report titled "Asia Medical Tourism Analysis and Forecast to 2015 provides the current status and future outlook of Asia medical tourism market survey analysis. This report studies in detail various aspects of medical tourism such as number of foreign patients arrivals, revenue from foreign patients change projections and cost comparison of various types of surgeries in the United States with other Asian countries (Thailand, India, Singapore, Malaysia, Philippines, South Korea and Taiwan). The medical tourists arrivals share and medical tourism market share has also been studied in this report. Driving forces of each country in medical tourism industry and Challenges faced by each country in medical tourism industry has been studied in this report. 7 Asian Countries Medical Tourism Analysis Data Studied in this Report India, Thailand, Singapore, Malaysia, Philippines, South Korea and Taiwan

Key Topics Covered in the Report Number of Medical Tourists Arrival and Forecast in Asia (2008 2015) Medical Tourism Market and Forecast in Asia (2008 2015) 7 Countries Medical Tourists Arrivals Share and Forecast in Asia (2008 2015) 7 Countries Medical Tourism Market Share and Forecast in Asia (2008 2015) Number of Medical Tourists Arrival and Forecast in India (2008 2015) Medical Tourism Market and Forecast in India (2008 2015) Number of Medical Tourists Arrival and Forecast in Thailand (2008 2015) Medical Tourism Market and Forecast in Thailand (2008 2015) Number of Medical Tourists Arrival and Forecast in Singapore (2008 2015) Medical Tourism Market and Forecast in Singapore (2008 2015) Number of Medical Tourists Arrival and Forecast in Malaysia (2008 2015) Medical Tourism Market and Forecast in Malaysia (2008 2015) Number of Medical Tourists Arrival and Forecast in Philippines (2008 2015) Medical Tourism Market and Forecast in Philippines (2008 2015) Number of Medical Tourists Arrival and Forecast in South Korea (2008 2015) Medical Tourism Market and Forecast in South Korea (2008 2015)

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Number of Medical Tourists Arrival and Forecast in Taiwan (2008 2015) Medical Tourism Market and Forecast in Taiwan (2008 2015) Driving Forces for Growth in Medical Tourism in each of the 7 countries Challenges for the Medical Tourism in each of the 7 Countries

Data Sources This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by Renub Research team of industry experts. Primary sources include industry surveys and telephone interviews with industry experts. Such as Interview with Head, Tourism Resource Centre, Singapore Tourism Board, Officials from Department of Health Ministry of Taiwan Secondary sources information and data has been collected from various printable and nonprintable sources like search engines, News websites, Government Websites, Trade Journals, White papers, Government Agencies, Magazines, Newspapers, Trade associations, Books, Industry Portals, Industry Associations and access to more than 500 paid databases.

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Asia Medical Tourism Analysis and Forecast to 2015 Renub Research, 2012 Edition 1.0 All rights reserved. This publication is protected by copyright. No part of it may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic mechanical, photocopying, recording or otherwise without the prior written permission of the publishers

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Table of Contents
1. 2. Executive Summary Why Medical Tourism is growing? 2.1 2.2 2.3 2.4 2.5 The Role of Cost and Quality Proactive Role of Asian Governments Information Access, ICT and Foreign Medical Patients Niche Medical Services is Buzzword for Medical Tourism in Asian Countries Type of Niche Services Offered By Different Countries Malaysia Philippines South Korea Thailand Singapore India

2.5.1 2.5.2 2.5.3 2.5.4 2.5.5 2.5.6 2.6

Accreditations Joint Commission International (JCI) Trent Accreditation Scheme (TAS) International Organization for Standardization (ISO) Regional Accreditation Organizations

2.6.1 2.6.2 2.6.3 2.6.4 3.

Asia (7 Countries) Medical Tourism Market Overview 3.1 3.2 Asia Medical Tourism Arrivals and Forecast Asia Medical Tourism Market & Forecast

4.

Asia (7 Countries) Medical Tourist Arrivals Share, Medical Tourism Market Share & Forecast 4.1 4.2 Asia Medical Tourist Arrivals Share & Forecast Asia Medical Tourism Market Share & Forecast

5.

Asia (7 Countries) Medical Tourism Cost Analysis in Comparison to USA 5.1 5.2 5.3 5.4 Cardiac/Heart Surgery Orthopedic Surgery Dental Tourism/Treatment Cosmetic/Plastic Surgery Page 7 of 19

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6.

India Medical Tourism Overview 6.1 6.2 6.3 Medical Tourist Arrivals & Forecast Medical Tourism Market & Forecas India Medical Tourism Growth Drivers India is the Mecca for all Treatment Options for Infertility India Exempts Medical Tourists from New Visa Rules Indian Heart Surgery is the finest in the World

6.3.1 6.3.2 6.3.3 6.4

India Medical Tourism Challenges Indian Medical Tourism Catches Superbug Kolkata's AMRI Hospital Disaster Tarnish India's Image as Medical Tourism Hub

6.4.1 6.4.2 7.

Thailand Medical Tourism Overview 7.1 7.2 7.3 Medical Tourist Arrivals & Forecast Medical Tourism Market & Forecast Thailand Medical Tourism Growth Drivers Thailand Offers Excellent Service in Medical Tourism Thailands Medical Technology is State-of-the-Art Thailand Features Internationally Accredited Medical Facilities Digital Marketing Campaign Bloggers Invited for Thailand Medical Tourism Blog Contest Tourism Authority of Thailand (TAT) Introduces Amazing Thailand Mobile Application

7.3.1 7.3.2 7.3.3 7.3.4 7.3.5 7.3.6 7.4

Thailand Medical Tourism Challenges Political Unstable State Thailand Tourism Sector Hit Hardest By the Floods

7.4.1 7.4.2 8.

Singapore Medical Tourism Overview 8.1 8.2 8.3 Medical Tourist Arrivals & Forecast Medical Tourism Market & Forecast Singapore Medical Tourism Growth Drivers Singapore Taps Asia's Rising Affluence Middle Class in Medical Tourism Boom Singapore Caters to Middle East Medical Travelers with Arabic Version SingaporeMedicine Becomes a New Face on Facebook Singapore General Hospital (SGH) the First MAGNET Recognized Hospital in Asia Building the Best Connexion Accreditation & Accolades Page 8 of 19

8.3.1 8.3.2 8.3.3 8.3.4 8.3.5 8.3.6

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8.3.7 8.4

Strong Reputation and No language Barrier

Singapore Medical Tourism Challenges Higher Charges than other Asian Countries

8.4.1 9.

Malaysia Medical Tourism Overview 9.1 9.2 9.3 Medical Tourist Arrivals & Forecast Medical Tourism Market & Forecast Malaysia Medical Tourism Growth Drivers Band of Aid by Malaysia's Government Malaysia Medical Achievement - Brand Image Accrediting Excellence Fastest Growing Sectors is the Fertility Market in Malaysias Medical Tourism

9.3.1 9.3.2 9.3.3 9.3.4 9.4

Malaysia Medical Tourism Challenges Lack of Effective Marketing Strategy Cross-Border Issues in the Development of Medical Tourism in Malaysia

9.4.1 9.4.2 10. 10.1 10.2 10.3

Philippines Medical Tourism Overview Medical Tourist Arrivals & Forecast Medical Tourism Market & Forecast Philippines Medical Tourism Growth Drivers Philippines unique Medical Visas gaze for the Medical Tourists Philippine Medical Treatment costs relative to USA costs Strong Government Support English Speaking Population

10.3.1 10.3.2 10.3.3 10.3.4 10.4

Philippines Medical Tourism Challenges The Philippines: "Kidnap Capital of Asia" Philippines Terrorist Threat Prompts Travel Warning Least Number of JCI Accredited Hospitals Compared to Other Established Players

10.4.1 10.4.2 10.4.3 11. 11.1 11.2 11.3

South Korea Medical Tourism Overview Medical Tourist Arrivals & Forecast Medical Tourism Market & Forecast South Korea Medical Tourism Growth Drivers South Korea Launches Medical Tourism Plan Busan Becomes Hot Spot for Medical Tourism

11.3.1 11.3.2

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11.3.3 11.3.4 11.3.5 11.3.6 11.3.7 11.3.8 11.4

Jeju Island to be turned into Resort Style Medical Tourism Centre Providing One-stop Service for Medical Tourism Relaxed Foreign Ownership to Boost Medical Travel Industry Koreas Local Governments Build Health Care Clusters to Attract Foreign Patients Korean Medical Tourism Wave Ripple in Pact with Abu Dhabi Strong Government Support

South Korea Medical Tourism Challenges Language and Cultural Barrier Malpractice Compensation Foreigners Victims of Inflated Medical Fees

11.4.1 11.4.2 11.4.3 12. 12.1 12.2 12.3

Taiwan Medical Tourism Overview Medical Tourist Arrivals & Forecast Medical Tourism Market & Forecast Taiwan Medical Tourism Growth Drivers Taiwan Launches Medical Services Application for Travelers Taiwan to Promote Medical Tourism with Documentary Film High Quality Health Care in Taiwan USA Insurance Firm Coverage for Taiwan Hospitals

12.3.1 12.3.2 12.3.3 12.3.4 12.4

Taiwan Medical Tourism Challenges Department of Health (DOH) Role in Medical Tourism Medical Service Brand Image & Marketing Channel Resource Limitations & Insufficient Effort of Promotion

12.4.1 12.4.2 12.4.3

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List of Figures

Figure 2-1: Three categories of Niche Services Figure 2-2: Niche Services Relationship between total Revenue & Risk in Procedures Figure 2-3: Asia Number of JCI Accredited Hospitals (Number), till August 30, 2012 Figure 3-1: Asia Medical Tourism Arrivals (Number), 2008 2011 Figure 3-2: Asia Forecast for Medical Tourism Arrivals (Number), 2012 2015 Figure 3-3: Asia Medical Tourism Market (Million US$), 2008 2011 Figure 3-4: Asia Forecast for Medical Tourism Market (Million US$), 2012 2015 Figure 4-1: Asia Medical Tourist Arrivals Share (Percent), 2008 2011 Figure 4-2: Asia Forecast for Medical Tourist Arrivals (Percent), 2012 2015 Figure 4-3: Asia Medical Tourism Market Share (Percent), 2008 2011 Figure 4-4: Asia Forecast for Medical Tourism Market Share (Percent), 2012 2015 Figure 6-1: India Medical Tourist Arrivals (Number), 2007 2011 Figure 6-2: India Forecast for Medical Tourist Arrivals (Number), 2012 2015 Figure 6-3: India Medical Tourism Market (Million US$), 2006 2011 Figure 6-4: India Forecast for Medical Tourism Market (Million US$), 2012 2015 Figure 7-1: Thailand Medical Tourist Arrivals (Number), 2002 2011 Figure 7-2: Thailand Forecast for Medical Tourist Arrivals (Number), 2012 2015 Figure 7-3: Thailand Medical Tourism Market (Million US$), 2004 2011 Figure 7-4: Thailand Forecast for Medical Tourism Market (Million US$), 2012 2015 Figure 7-5: ThailandMedTourism.com Website Screen Shot Figure 7-6: Thailand Medical Tourism Blog Contest, 2010 Figure 7-7: Thailand Amazing Thailand Mobile Application Figure 8-1: Singapore Medical Tourist Arrivals (Number), 2002 2011 Figure 8-2: Singapore Forecast for Medical Tourist Arrivals (Number), 2012 2015 Figure 8-3: Singapore Medical Tourism Market (Million US$), 2002 2011 Figure 8-4: Singapore Forecast for Medical Tourism Market (Million US$), 2012 2015 Figure 9-1: Malaysia Medical Tourist Arrivals (Number), 2003 2011 Figure 9-2: Malaysia Forecast for Medical Tourist Arrivals (Number), 2012 2015 Figure 9-3: Malaysia Medical Tourism Market (Million US$), 2003 2011 Figure 9-4: Malaysia Forecast for Medical Tourism Market (Million US$), 2012 2015 Figure 10-1: Philippines Medical Tourist Arrivals (Number), 2007 2011 Figure 10-2: Philippines Forecast for Medical Tourist Arrivals (Number), 2012 2015 Figure 10-3: Philippines Medical Tourism Market (Million US$), 2007 2011 Figure 10-4: Philippines Forecast for Medical Tourism Market (Million US$), 2012 2015

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Figure 10-5: Philippines Comparison of English Speaking Population between India & Philippines (Percent), 2008 Figure 10-6: Asia Comparison of Number of JCI Accredited Hospitals in Philippines with other Asian Countries (Number), till August 2012 Figure 11-1: South Korea Medical Tourist Arrivals (Number), 2007 2011 Figure 11-2: South Korea Forecast for Medical Tourist Arrivals (Number), 2012 2015 Figure 11-3: South Korea Medical Tourism Market (Million US$), 2007 2011 Figure 11-4: South Korea Forecast for Medical Tourism Market (Million US$), 2012 2015 Figure 11-5: South Korea Government & Private Sector Investment in Healthcare Town of Jeju Free International City Development Center (Million US$ & Percent), 2009 Figure 12-1: Taiwan Medical Tourist Arrivals (Number), 2008 2011 Figure 12-2: Taiwan Forecast for Medical Tourist Arrivals (Number), 2012 2015 Figure 12-3: Taiwan Medical Tourism Market (Million US$), 2008 2011 Figure 12-4: Taiwan Forecast for Medical Tourism Market (Million US$), 2012 2015

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List of Tables

Table 2-1: Asia Cost Comparison of Some Major Procedure (US$), 2011 Table 2-2: Global Internet Usage & Population Statistics, 2011 Table 2-3: Asia Summary of Niche Services in Different Countries Table 5-1: Asia Cost Comparison of Cardiac Surgery (US$), 2011 Table 5-2: Asia Cost Comparison of Orthopedic Surgery (US$), 2011 Table 5-3: Asia Cost Comparison of Dental Treatments (US$), 2011 Table 5-4: Asia Cost Comparison of Cosmetic Surgery (US$), 2011 Table 6-1: Worldwide Cost Comparison of In-Vitro Fertilization (US$), 2008 2009 Table 6-2: India Cost Comparison of Cardiac Surgery (US$), 2011 Table 6-3: Death Toll in AMRI Hospital (Number), 2011 Table 7-1: Thailand JCI Accreditated Hospitals, 2012 Table 7-2: Thailand CCPC Certificate Hospitals, 2012 Table 8-1: Singapore Cost Comparison of Medical Procedures (US$), 2011 Table 9-1: Malaysia JCI Accredited Hospitals, 2011 Table 9-2: Malaysia MSQH Accredited Hospitals, 2011 Table 9-3: Worldwide Cost Comparison of In-Vitro Fertilization (US$), 2008 2009 Table 10-1: Philippines Cost Comparison of Major Medical Procedures (US$), 2011 Table 11-1: South Korea Agreement Hospitals Name Table 11-2: South Korea Price List for Foreign Patients (US$) Table 12-1: Taiwan Agreement between American Insurance Company & Taiwan Hospitals, 2011

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