Medical tourism industry valued at $439 billion

A REPORT issued by VISA and Oxford Economics values the global medical tourism industry at US$439 billion, with a projected growth rate of up to 25% year-over-year for the next 10 years as an estimated three to four percent of the world's population will travel internationally for healthcare and health-related treatment. 

The study takes into account growth factors – such as 340 new international airports over the next decade – and estimates that the medical travel market reach US$3 trillion by 2025.

The Medical Tourism Index (MTI), lists the top 41 destinations for those seeking value-added services and high quality of healthcare across the globe. The US leads in terms of market share of healthcare travel spending, but Thailand, Singapore, and South Korea continue to thrive. China is expected to overtake the US within the next 10 years due to the population's demand for higher quality of care.

‘The borders to quality healthcare access have begun to disintegrate,’ say MTI co-authors, Renée-Marie Stephano, president of the Medical Tourism Association and Mark Fetscherin, Associate Professor of International Business and Marketing at Rollins College in Florida.

‘Speculation about the medical tourism industry as a phenomenon is over. This report and the rankings of the Medical Tourism Index provide a unique opportunity for investors seeking new ventures to make smart choices in destinations driving patient travel.

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