Is medical tourism thriving, dying, static or growing?
Who are the rising stars and who have peaked and fallen?
Global medical tourism has been static at around £7 million for five years and shows no signs of growth. What is changing rapidly is each country's share of the total. Domestic medical tourism is increasing and is worth up to £3 million, while health and wellness tourism is worth over £50 million and growing each year.
Trying to keep up to date with the ever changing medical tourism and healthcare, health insurance, and regulation activity in every country is like walking backwards up an escalator- stand still and you go backwards. The idea that it is one global price-driven market is simplistic and out of date, as what makes medical tourism interesting is the ability to adapt to good and bad news.
Every country and organisation needs to update and refine its medical tourism strategy and to do that they need to know the latest on which countries are doing well or badly, who goes there, the treatment they seek and why they go there. Strategy cannot be decided in a bubble-it needs full knowledge of what is happening now in medical tourism. What worked in 2015 may fail in 2017.
To continue to be successful in medical tourism you need to understand how medical tourism and healthcare and health insurance work in each targeted country- and what governments are or are no longer doing on promoting medical tourism. This report looks at the now and the future-in the context of the past- so is essential reading to any organisation serious about medical tourism.
The report discusses the dynamics of medical tourism, providing insights into the supply chain, business models, products and the targeted consumer- and how the rise of medical tourism portals is having an effect. With background material suitable for both experts and newcomers to medical tourism and bang up to date numbers-this is a report you cannot afford to ignore
Fortunes can rise and fall in months, while potential is more variable by region, country and even within countries -than has ever been the case- and that also applies to demand. Countries thought of as solid leaders have hit serious trouble, while previous no hopers are doing well.