15-25% growth in Medical Tourism every year
The Medical Tourism industry is successful and growing. It is estimated that 15 – 16 million patients worldwide have traveled abroad, with each patient spending an average of $3,800 – $6,000 per visit. This includes airfare and other transportation, accommodations, the surgery or treatment, post-care, and other medical-related costs.
Aging Population
And those numbers are growing. As the world population is multiplying and living longer, age-related problem are also multiplying and worsening as they age. Older patients suffering from arthritis, weakening joints, and bone loss are seeking orthopedic treatments abroad. The high out-of-pocket costs for patients in the U.S. and the long wait times for other countries offering universal care have many patients seeking medical care elsewhere. Baby boomers specially are looking for ways to stay active and healthy even as they grow older.
Millenials
Today’s successful millenials are also among those traveling abroad for medical care, especially for cosmetic procedures. This includes everything from breast implants and liposuction to minor treatments like lip fillers and eyelid surgery. Because of these simpler outpatient procedures, the number of medical tourists are expected to increase even higher – 35 percent – annually.
Medical Travelers
About 1.5 million Americans travel outside the U.S. for medical care every year. Currently, they make up the largest number of medical tourists but with China emerging as one of the richest countries in the world, it is expected to surpass them by 2025. Couple that with the fact that it is close to popular medical tourism destination such as Taiwan and India. Southeast Asia has already seen the most growth in medical tourism. Doctors and clinics offer highly competitive rates, especially for dental and cosmetic surgeries. Some of these healthcare providers are well-known and have established a good reputation worldwide for providing high quality facilities and medical services. Six of the world’s top ten medical tourist destinations lie in this region.
Here are the top 10 Medical Tourism destinations
- Costa Rica
- India
- Malaysia
- Mexico
- Singapore
- South Korea
- Taiwan
- Thailand
- Israel
- Turkey