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Asia is the fastest-growing region in the global medical tourism market. In 2016, between 105 and 120 million medical tourists traveled abroad to seek healthcare services. In terms of market size and growth, we put the current medical tourism market size at $120 billion, and the estimate is that the industry is growing by 13 to 15% each year. Accordingly, in 2020 the medical tourism industry will be valued at $256 billion.
The Asian health care market is expanding faster than in other regions, especially driven by the private sector and, notably, medical tourism. Foreign patients are a major revenue generator for private hospitals. Their share represents 40-55 percent of the private hospitals’ revenue in countries such as Singapore, Malaysia and especially Thailand. In India, medical tourism accounts for 25 percent of revenue, and in the Philippines, South Korea and Taiwan, it accounts for 10-15 percent of revenue.
In 2016, the medical tourism sector in Asia-Pacific accounted for 10 million patients and 15-17 billion in revenues. For instance, India attracted more than 4 million medical tourists in 2016, generating around $3 billion in healthcare revenues. Similarly, in Thailand, which has perhaps the most advanced medical tourism sector, 3.5 million foreign patients spent more than 4 billion on healthcare in 2016. In Singapore, medical tourism accounted for almost 1.6 billion with close to 900,000 patients in 2016. The sector will continue to grow 13-15 percent annually for the coming three years.
Affordable high quality medical facilities can make Nepal, one of the best possible hubs for medical tourism where people of various countries can come not only for sightseeing, but also for receiving medical treatments. Such a flow of tourism for sightseeing and medical treatments will capture the attention of policy-makers, researchers and the media. This will also reverse the traditional process of patients travelling from less-developed countries to developed nations in pursuit of the treatments not available in their homelands. Nepal can experience both qualitative and quantitative shifts in patient mobility with state-of-the-art medical technology, as people will travel from richer countries to access cheaper health services and also see unique natural beauties of Nepal. Such shift will increase access to affordable medical services.
Nepal really needs to materialize the concept of medical tourism where travelers can utilize high quality medical services during their sightseeing trips. Nepal also needs to intertwine the research in physical sciences, biology, engineering, economics, and public health and think seriously about solving problems of complex systems in a holistic approach in which all of these disciplines play a role. Hospital services can be combined with hotel and transportation services through an interactive approach.
Medical tourism needs to be more elastic on pricing than in other forms of tourism. It needs to take into account the quality services while bench marking it against the high costs. The cost may start from the air ticket, visa, and airport pick-up and drop-off to hotels and variety of food suitable to the culture of the accompanying family members during the period of treatment at the accredited hospitals and sightseeing after the treatments. We should see the India’s medical tourism industry forecast to reach US$9 billion by 2021, while Dubai may capture a share of over US$45 billion by 2018.
Historically, Nepal has been a popular tourist destination and first choice of the international travelers. Now, it needs to scale-up the healthcare industry to accommodate the needs for million tourists. Tourism industry in the past decade has met with setbacks and disappointments due to political instabilities. Now here, we got the strong and stable government. Nepal can utilize the expertise of various medical institutions to establish the medical tourism centre for medical excellence in areas such as Cardiology, Oncology, Transplantation, Orthopedic, Ophthalmology, Dental and others.
Medical Tourism trend in Asia started due to the following reasons;
Theme of Medical Tourism Asia Summit- 2019: Promoting Healthcare Services with Global B2B Network
Benefits of Medical Tourism Asia Summit- 2019:
– Develop partnerships with healthcare providers to increase flow of patients
– Meet management team of Public, Private & University Hospitals
– To know best practices in Ayurveda, Yoga, Homoeopathy & wellness industry
– Network & maintain existing
relationships with travel operators, tourism boards and medical tourism facilitators
– Network with government officials, health departments & authorities, associations & institutions
– Gain information on various health & insurance related schemes by service & solution providers
– Acquire more knowledge through networking with onsite event participants
– Share ideas, concerns and unveil future strategies on pharmaceutical services which include drug manufacturers, pharma machinery and packaging industry, medical devices etc.
– Source the latest travel offers in the Nepalese market
– Expand your business line and secure contracts
– Learn & access about your competitors
– Gain brand exposure
– Gather information on latest trends in the healthcare, Research & development, medical technology, phama machinery & packaging industry
– Collaboration with international healthcare service providers
– B2B and B2C meetings for partnership, collaboration and technology sharing
Opportunities & Activities:
Around 150 stalls of Hospitals, Healthcare Service Providers, Pharmaceuticals, Pharma Machinery, Packaging, Food Supplements, Insurance Companies will exhibit their technology, expertise, products and services to attract people from this Expo.
Free Health checkup
Will organize free health checkup service and blood donation program. From that more than 1000 patients will get directly benefited from this Expo.
The objective of this Conference is to promote as a Premier Healthcare Destination and to enable streamlined medical services exports from Nepal. This underlying objective is talent, tradition, technology, tourism and trade.
B2B & B2C Meeting
Get advantage from this competitive industry by arranging meetings with your potential client and customers during the expo.
– Healthcare Service Providers Meet
– Healthcare Facilitators Meet
– Healthcare Technology Providers Meet
– Healthcare Education Providers Meet
– Equipment Suppliers Meet
– Pharma Meet
– Healthcare Investors Meet
WHO ARE PARTICIPATING?
Medical Tourism Asia Summit – 2019, Kathmandu, Nepal
29 Nov 2019 to 30 Nov 2019