TechNavio – Infiniti Research · Growing Demand for Cosmetic and Dental Surgery . 2015-2019 Sample - Global Medical Tourism Market 2015-2019 Global Medical Tourism Market Key Buying

TechNavio – Infiniti Research

http://www.marketresearch.com/Infiniti‐Research‐Limited‐v2680/

Publisher Sample

Phone: 800.298.5699 (US) or +1.240.747.3093 or +1.240.747.3093 (Int'l) Hours: Monday - Thursday: 5:30am - 6:30pm EST

Fridays: 5:30am - 5:30pm EST

Email: [email protected] MarketResearch.com

http://www.marketresearch.com/Infiniti-Research-Limited-v2680/

2015-2019 Sample - Global Medical Tourism Market

technavio insights


2015-2019 Global Medical Tourism Market

01. Market Research Methodology

Market Research Process

TechNavio identifies the key opportunities in leading markets and develops various

methodologies for data collection and analysis. The micro, meso, and macroeconomic

indicators of the market are studied to ascertain the dynamics of the market.

Research Design

TechNavio’s reports are based on in-depth qualitative and quantitative analyses of various

markets. Qualitative analysis involves the application of various projection and sampling

techniques, whereas quantitative analysis involves primary interviews, surveys, and vendor

briefings. The data thus gathered is validated through experts' opinions. Based on research

results and technical insights, TechNavio analysts refine the existing methodologies to analyze

the various aspects of the market.

Exhibit 1: Market Research Methodology

Source: TechNavio Analysis

Global Medical

Tourism Market 2015-

2019



TechNavio analysts gather inputs from various vendors and industry experts and verify the

information collected with databases, financial reports, industry papers, and various other

secondary sources. The impact of global economic conditions and other macroeconomic

indicators are also considered while assessing the market.

Research Methodology

TechNavio analysts have adopted primary as well as secondary research techniques to

ascertain the size and vendor landscape of the Global Medical Tourism Market. The information

is obtained using a combination of the bottom-up and top-down approaches, besides using in-

house market modeling tools. The data is then corroborated with data obtained from various

market participants and stakeholders across the value chain, including vendors, service

providers, distributors, re-sellers, and end-users.



02. Executive Summary

Market Size 2014: US$ XXX

2019: US$ XXX

Market Growth Rate 2014: XXX percent

2019: XXX percent

CAGR XXX percent

Key Geographies

APAC: XXX percent

Americas: XXX percent

EMEA: XXX percent

Key Leading Countries

by Revenue

Thailand: XXX percent

Singapore: XXX percent

US: XXX percent

Mexico: XXX percent

India: XXX percent

Key Leading Countries

by Medical Tourists

Thailand: XXX percent

Mexico: XXX percent

Singapore: XXX percent

India: XXX percent

Malaysia: XXX percent

Key Customer Segment Medical Tourists

Key Market Drivers

Increased Healthcare Costs

Driver 2

Driver 3

Driver 4

Driver 5

Driver 6

Rising Incidence of Lifestyle Diseases

Key Market Challenges

Lack of Proper Medical Infrastructure

Challenge 2

Challenge 3

Challenge 4

Lack of Product Differentiation

Key Market Trends

Increase in Number of US Medical Tourists

Trend 2

Trend 3

Growing Demand for Cosmetic and Dental Surgery



Key Buying Criteria

Availability of Treatment

Cost

Hospitality

Quality Healthcare

Key Vendors

Bangkok Dusit Medical Services plc

Bumrungrad Hospital plc

IHH Healthcare Berhad plc

KPJ Healthcare Berhad



Scope of the Report

02.1 Market Overview

This report covers the present scenario and the growth prospects of the Global Medical Tourism

market for the period 2015-2019. To calculate the market size, the report takes into account the

expenditure of medical tourists for medical services and treatment when traveling abroad. The

report does not include expenses on food, accommodation, visiting, sightseeing, and air fares.

The following key geographies have been analyzed in this report:

APAC Region

Americas

EMEA Region

The report also presents the vendor landscape and a corresponding detailed analysis of the four

leading vendors in the Global Medical Tourism market. In addition, the report discusses the major

drivers that influence the growth of the Global Medical Tourism market. It also outlines the

challenges faced by the vendors and the market at large, as well as the key trends emerging in

the market.

02.2 Product Offerings

Some of the products offered by the major vendors in the Global Medical Tourism market are

listed below:

Company Products Offered

Bangkok Dusit Medical

Services

Chest Packages

ENT Packages

Eye Surgery Packages

GI and Liver Packages

Longevity Packages

Neurology Packages

Orthopedic Surgery

Spine Surgery Packages

Urology Packages



Bumrungrad Hospital Eye Center

Health Screening Center

Cardiology

Joint Replacement

Neuroscience Center

Cosmetic Surgery

Urology

Women's Center

IHH Healthcare Berhad Brain and Nervous System

Orthopedics and Sports Medicine

Eye Center

Cardiology

General Surgery

Kidney Transplant

Liver Transplant

Thoracic Surgery

Urology

KPJ Healthcare Berhad Cardiac Services

Cosmetic and Reconstructive Services

Oncology, Chemotherapy, and Radiotherapy

Ophthalmology Services

Orthopedic and Sports Injury

Pediatric and Neonatal Services

Surgical and Critical Care

Premier Screening and Wellness Center



03. Introduction

Medical tourism refers to the travel of patients to another country to receive medical treatment.

Patients may choose to obtain medicinal treatment or surgical treatment such as heart bypass,

heart valve replacement, hip replacement, dental implants, spinal fusion, tummy tuck, breast

implants, cosmetic surgery, angioplasty, and other treatments. Medical tourism involves

outsourcing medical services to low-cost countries and is gaining popularity because of various

advantages such as cost savings, improved and personalized quality care, and short waiting

times. The Global Medical Tourism market is in its nascent stage and is expected to gain

momentum during the forecast period.

The Global Medical Tourism market is expected to grow at a CAGR of 19.38 percent during the

forecast period. Cost savings, short wait times, and quality care are the major drivers of the

market. Countries such as Thailand, India, Singapore, Malaysia, and Mexico are the major

medical tourist destinations. These countries are investing in and promoting medical tourism. The

APAC region is the largest region attracting the maximum number of medical tourists followed

by the Americas and the EMEA region. Bangkok Dusit Medical Services, Bumrungrad Hospital,

IHH Healthcare Berhad, and KPJ Healthcare Berhad are the key leading vendors in this market.

An increase in healthcare costs in developed countries is boosting the Global Medical Tourism

market. Patients from highly developed countries prefer to travel to less developed countries to

obtain treatment for cost savings. An increase in JCI accreditation assists patients in choosing

medical destinations and hospitals. JCI accreditation is the gold standard in medical services,

which is attracting medical tourists and hence driving the market. Rise in aging population, life

expectancy, and lifestyle diseases is also propelling the growth of medical tourism.

Lack of proper medical infrastructure in major medical tourist destinations such as India is one of

the major challenges for the market. Factors such as facilities at airports, unskilled or under-skilled

workforce, and unhygienic conditions are the major causes of concern for medical tourists,

hampering the growth of the market. Shortage of medical professionals is another major

obstacle in this market. Countries such as India, Thailand, and Singapore are facing this

challenge, which is restricting the growth of the market.

Note: Information included in this sample are extracts of the full report.



03.1 Key Questions Answered in this Report

What will the market size be in 2019 and what will be the growth rate?

What are key market trends?

What is driving this market?

What are the challenges to market growth?

Who are the key vendors in this market space?

What are the market opportunities and threats faced by key vendors?

What are the strengths and weaknesses of each of these key vendors?



04. Market Landscape

04.1 Market Size and Forecast

The Global Medical Tourism market was valued at US$ XXX in 2014 and is expected to reach US$

XXX by 2019, growing at a CAGR of XXX percent.

Exhibit 2: Global Medical Tourism Market 2014-2019 (US$ billion)

Actual exhibits are available in full report only

Source: TechNavio Analysis

The Global Medical Tourism market is growing rapidly. This growth is driven by high healthcare

costs in developed countries. People from developed countries are increasingly traveling to

developing countries for their treatment. Long wait times and an aging population in developed

countries are also major reasons for growth of medical tourism. India, Singapore, Thailand,

Mexico, and Malaysia are the top destinations for medical tourism. The costs of medical

treatment or therapy are significantly lower in these countries compared to developed

countries.




05. Market Growth Drivers

Some of the major drivers in the Global Medical Tourism market are discussed below:


Driver 2

Driver 3

Driver 4

Driver 5

Driver 6

Rising Incidence of Lifestyle Diseases


Rising healthcare costs have compelled patients to seek low-cost quality healthcare treatment

available in other countries. Rising cost inflation is also a major concern for patients, which is

adversely affecting the overall Healthcare sector. Increase in life expectancy has also increased

the spending of people in healthcare. Advances in medical technology and expensive

medicines have also contributed to an increase in healthcare costs. Therefore, patients are

seeking options that can result in cost savings, which is expected to boost the Medical Tourism

market.




06. Market Challenges

Some of the major challenges in the Global Medical Tourism market are discussed below:


Challenge 2

Challenge 3

Challenge 4

Lack of Product Differentiation


The growth of medical tourism, especially in low-cost developing countries, is affected by the

lack of adequate medical infrastructure. Despite being attractive tourist destinations, they are

hindered by the lack of adequate skilled and trained manpower, proper accommodation

facilities for tourists, accessibility to tourist destinations, and good language translators, as well as

unhygienic conditions and food, which result in loss of medical tourists. Medical tourists seek

high-quality care in addition to low-cost medical treatment. Lack of such facilities is the major

challenge in this market. Governments in developing countries, especially in India and Thailand,

should launch programs for training and development of doctors and nurses, provide world-class

infrastructure, and develop customer-friendly policies to tap the growth opportunities in the

market.




07. Market Trends

Some of the emerging trends in the Global Medical Tourism market are discussed below:


Trend 2

Trend 3

Growing Demand for Cosmetic and Dental Surgery


The Global Medical Tourism market is witnessing an increase in the number of US patients

traveling abroad for medical treatment. Increasing number of baby boomers in the country

coupled with high costs of healthcare compels patients to search for affordable and low-cost

treatment overseas. A growing aging population in the US is expected to contribute to an

increase in the number of citizens availing treatment through medical tourism. Also, there are

approximately 19 million people in the US who are either uninsured or underinsured and thus are

unable to bear the high costs of treatment in the US. In addition, few of the high cost treatments

such as cosmetic surgery are not covered by insurers, which encourages US patients to travel

abroad for treatment.




08. Vendor Landscape

08.1 Competitive Scenario

The Global Medical Tourism market is fragmented with a large number of players. Bangkok Dusit

Medical Services, Bumrungrad Hospital, IHH Healthcare Berhad, and KPJ Healthcare Berhad are

the key leading vendors in this market. The majority of the players in this market have regional

presence. Rapid growth in the market and increasing support from government attract more

players to enter the market, making competition intense.

Bangkok Dusit Medical Services was founded in 1969 and is the largest medical services provider

in Thailand.

Bumrungrad Hospital is a multi-specialty hospital located in Bangkok, Thailand.

IHH Healthcare Berhad is one of the world's largest healthcare services providers.

KPJ Healthcare Berhad is a public limited company in Malaysia.




09. Key Vendor Analysis

09.1 Bangkok Dusit Medical Services

09.1.1 Business Overview

Bangkok Dusit Medical Services was founded in 1969 and is headquartered in Bangkok,

Thailand. The company operates 34 hospitals in Thailand and 2 hospitals in Cambodia. It mostly

operates through six hospital groups: Bangkok Hospital Group, BNH Hospital, Samitivej Hospital

Group, Phyathai Hospital Group, Royal Hospital Group, and Paolo Memorial Hospital Group.

The company's business activities are classified into two segments:

Hospital Operations: Offers medical services in the areas of neurology, chest and lung

disease, cancer, complementary and alternative medicine, anesthesiology, aviation medicine,

sports and exercise medicine, mental health rehabilitation and recovery, sports and exercise

medicine, skincare, spine, and others

Other Business: Comprises the complimentary non-hospital businesses such as medical

laboratories, pharmaceutical product manufacturing and saline production, transportation

services, asset management, facility management, and restaurants and distribution of health

food products. In addition, it offers information services, training services, health insurance, and

life insurance services

As of December 2013, the company employed 3,043 people. It is supported by a strong

operational network of 36 hospital facilities in Thailand and Cambodia. It reported net revenues

of US$ XXX and US$ XXX for FY2012 and FY2013, respectively.

09.1.2 Recent Developments

Company Details Description

Key Highlights October 2, 2014: Announces the acquisition of Phuket

International Hospital

September 23, 2014: Establishes a new subsidiary,

Bangkok Save Drug Company




09.1.3 SWOT Analysis



03. Scope of the Report ........................................................................................ 3

01. Executive Summary ......................................................................................... 1

02. List of Abbreviations ......................................................................................... 3

03. Scope of the Report ........................................................................................ 4

03.1 Market Overview ......................................................................................... 4

03.2 Product Offerings......................................................................................... 4

04. Market Research Methodology .................................................................... 6

04.1 Market Research Process ........................................................................... 6

04.2 Research Methodology ............................................................................. 6

05. Introduction ....................................................................................................... 8

06. Market Landscape ........................................................................................ 10

06.1 Market Snapshot ........................................................................................ 10

06.2 External Factors Affecting Medical Tourism Market ........................... 11

06.3 Market Overview ....................................................................................... 12

06.4 Market Size and Forecast......................................................................... 13

06.5 Market Statistics ......................................................................................... 17

06.6 Five Forces Analysis ................................................................................... 18

06.7 Geographical Segmentation ................................................................. 20

06.8 Global Medical Tourism Market by Geographical

Segmentation 2014-2019 ......................................................................... 20

06.9 Medical Tourism Market in APAC Region ............................................. 21

06.10 Medical Tourism Market in Americas ..................................................... 22

06.11 Medical Tourism Market in EMEA Region .............................................. 23

07. Key Leading Countries .................................................................................. 24

07.1 Thailand ....................................................................................................... 25

07.2 Singapore .................................................................................................... 28

07.3 US .................................................................................................................. 31

TABLE OF CONTENT



07.4 Mexico ......................................................................................................... 31

07.5 India ............................................................................................................. 33

08. Buying Criteria ................................................................................................. 36

09. Market Growth Drivers ................................................................................... 37

10. Drivers and their Impact ............................................................................... 43

11. Market Challenges ........................................................................................ 45

12. Impact of Drivers and Challenges .............................................................. 47

13. Market Trends .................................................................................................. 48

14. Trends and their Impact ................................................................................ 50

15. Vendor Landscape ........................................................................................ 51

15.1 Competitive Scenario............................................................................... 51

15.2 Other Prominent Vendors ........................................................................ 52

16. Key Vendor Analysis ...................................................................................... 53

16.1 Bangkok Dusit Medical Services ............................................................. 53

16.1.1 Key Facts ..................................................................................................... 53

16.1.2 Business Overview...................................................................................... 54

16.1.3 Business Segmentation by Revenue 2013 ............................................ 55

16.1.4 Business Segmentation by Revenue 2012 and 2013 .......................... 55

16.1.5 Business Strategy ........................................................................................ 56

16.1.6 Recent Developments ............................................................................. 56

16.1.7 SWOT Analysis ............................................................................................. 57

16.2 Bumrungrad Hospital ................................................................................ 58

16.2.1 Key Facts ..................................................................................................... 58


16.2.3 Product Segmentation by Revenue 2013 ............................................ 59

16.2.4 Product Segmentation by Revenue 2012 and 2013 .......................... 60

16.2.5 Geographical Segmentation by Revenue 2013 ................................. 60





16.2.8 SWOT Analysis ............................................................................................. 62

16.3 IHH Healthcare ........................................................................................... 63

16.3.1 Key Facts ..................................................................................................... 63







16.3.8 SWOT Analysis ............................................................................................. 67

16.4 KPJ Healthcare .......................................................................................... 68

16.4.1 Key Facts ..................................................................................................... 68





16.4.6 Geographical Segmentation by Revenue 2012 and 2013 ............... 71



16.4.9 SWOT Analysis ............................................................................................. 73

17. Other Reports in this Series ............................................................................ 74



Exhibit 1: Market Research Methodology ..................................................... 6

Exhibit 2: Medical Tourism Treatment Cycle ............................................... 10

Exhibit 3: External Factors Affecting Medical Tourism Market ................. 11

Exhibit 4: Medical Tourism Treatment Cycle ............................................... 12

Exhibit 5: Global Medical Tourism Market 2014-2019 (US$

billion) ................................................................................................ 13

Exhibit 6: Major Medical Tourism Destinations ............................................ 15

Exhibit 7: Number of Tourists in Leading Medial Tourism

Destinations in 2014 (million) ......................................................... 16

Exhibit 8: Comparative Costs of Medical Treatment by

Countries .......................................................................................... 17

Exhibit 9: Global Medical Tourism Market by Geographical

Segmentation 2014 by Revenue ................................................. 20

Exhibit 10: Market Share of Key Leading Countries by Number

of Medical Tourists in 2014 ............................................................. 24

Exhibit 11: Medical Tourism Market in Thailand 2014-2019 (US$

billion) ................................................................................................ 25

Exhibit 12: List of JCI Accredited Hospitals in Thailand ............................... 27

Exhibit 13: List of JCI Accredited Hospitals in Singapore ............................ 29

Exhibit 14: Percentage of Medical Tourists in Singapore by

Country 2014 .................................................................................... 30

Exhibit 15: List of JCI Accredited Hospitals in Mexico ................................. 32

EXHIBITS



Exhibit 16: Medical Tourism Market in India 2014-2019 (US$

billion) ................................................................................................ 33

Exhibit 17: List of JCI Accredited Hospitals in India ...................................... 34

Exhibit 18: Percentage of Medical Tourists in India by Country

2014 ................................................................................................... 35

Exhibit 19: Total Number of Hospitals Recently Accredited by

JCI in Six Leading Markets 2005-2014 .......................................... 38

Exhibit 20: Cumulative Number of JCI Accredited Hospitals in

Six Leading Markets 2005-2014 ..................................................... 38

Exhibit 21: Average Savings in Major Medical Tourist

Destinations ...................................................................................... 39

Exhibit 22: Aging Population of World and Key Leading

Countries 2013 (people above 55 years of age in

millions) ............................................................................................. 40

Exhibit 23: Aging Population of World and Key Leading

Countries 2013 by Gender (people above 55 years

of age) .............................................................................................. 40

Exhibit 24: Average Life Expectancy of Major Countries in 2002

and 2012 (years) ............................................................................. 41

Exhibit 25: Global Diabetic Population Split by Geography 2013 ............ 42

Exhibit 26: Cost Comparison of Cosmetic and Dental Surgery

(US$) .................................................................................................. 49

Exhibit 27: Bangkok Dusit Medical Services: Business

Segmentation by Revenue 2013 ................................................. 55

Exhibit 28: Bangkok Dusit Medical Services: Business

Segmentation by Revenue 2012 and 2013 (US$

million) ............................................................................................... 55



Exhibit 29: Bumrungrad Hospital: Product Segmentation by

Revenue 2013 .................................................................................. 59

Exhibit 30: Bumrungrad Hospital: Product Segmentation by

Revenue 2012 and 2013 (US$ million) ......................................... 60

Exhibit 31: Bumrungrad Hospital: Geographical Segmentation

by Revenue 2013 ............................................................................ 60

Exhibit 32: IHH Healthcare: Business Segmentation by Revenue

2013 ................................................................................................... 64

Exhibit 33: IHH Healthcare: Business Segmentation by Revenue

2012 and 2013 (US$ million) ........................................................... 65

Exhibit 34: IHH Healthcare: Geographical Segmentation by

Revenue 2013 .................................................................................. 65

Exhibit 35: KPJ Healthcare: Business Segmentation by Revenue

2013 (US$ million) ............................................................................. 70

Exhibit 36: KPJ Healthcare: Business Segmentation by Revenue

2012 and 2013 (US$ million) ........................................................... 70

Exhibit 37: KPJ Healthcare: Geographical Segmentation by

Revenue 2013 (US$ million) ........................................................... 71

Exhibit 38: KPJ Healthcare: Geographical Segmentation by

Revenue 2012 and 2013 (US$ million) ......................................... 71



10. Other Reports in this Series

Global Energy Drink Market 2014-2018

Global Zero-calorie Sweetener Market 2014-2018

Global Natural Colorant and Flavor Market 2014-2018

Global Pet Food Market 2014-2018

Walk-in Refrigeration Market in the US 2014-2018

Global Diabetic Food Market 2014-2018

Global Retail Ready Packaging Market 2014-2018

Global Pet Care Market 2014-2018

Alcoholic Beverage Market in the US 2014-2018

Beer Market in India 2014-2018

Global Digestive Health Food and Drinks Market 2014-2018

Energy Drink Market in Latin America 2014-2018

Global Foodservice Market 2014-2018

Natural and Organic Food Market in the US 2014-2018

Global Gluten-free Food Market 2014-2018

Global Health and Wellness Food Market 2014-2018



This report has been prepared from sources and data that we believe to be

reliable, but we make no representation as to its accuracy or completeness. Any

decision or action taken by the recipient based on this report shall be solely and

entirely at the risk of the recipient. Opinions and information provided are made

as at the date of the report issue and are subject to change without notice.

All trademarks and copyrights remain the sole ownership of their rightful

owners/licensees. In no event shall Infiniti Research have any liability to any party

for special, incidental, tort, or consequential damages arising out of or in

connection with this report, even if Infiniti Research has been advised of the

possibility of such damages.

Copyright ©2013 Infiniti Research Limited. All Rights Reserved.

Reproduction without written permission is completely forbidden.

TechNavio Insights is a customized set of reports based on the TechNavio

platform. It builds on the intelligence available within TechNavio and leverages

the custom research experience of our researchers.

TechNavio is built on years of experience of Infiniti Research in deep dive custom

research and consulting for over 30 Fortune 500 companies and numerous large

and medium-sized companies in the technology space.

For more information about TechNavio, please visit www.technavio.com

DISCLAIMER

ABOUT TECHNAVIO INSIGHTS

http://www.technavio.com/

Documents

TechNavio – Infiniti Research · Growing Demand for Cosmetic and Dental Surgery . 2015-2019 Sample - Global Medical Tourism Market 2015-2019 Global Medical Tourism Market Key Buying