The medical tourism is the global sector in which people go to other nations to receive medical treatment or treatments. This sector offers a wide range of services, including elective procedures, difficult surgeries, wellness, and dental treatments. Patients frequently choose medical tourism because it offers lower rates, shorter wait times, access to specialized care, or higher quality services than their native nation. The industry includes a variety of features, such as travel and lodging arrangements, medical services, and post-treatment care. Advancements in healthcare technology, increased globalization, and rising healthcare costs in developed nations all have an impact on the market’s growth. Medical tourism has provided an option to escape long treatment queues by traveling abroad.
According to SPER Market Research, ‘Thailand Medical Tourism Market Size- By Product Type, By Application, By Form- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Thailand Medical Tourism Market is estimated to reach USD 57.49 Billion by 2033 with a CAGR of 16.1%.
Drivers: One of the main factors propelling the expansion of the Thailand tourism sector is the availability of affordable treatment choices. Patients from the US seeking economical treatment are drawn to Thailand’s high-quality healthcare system. These nations are appealing to people from around the world because they follow healthcare standards that are comparable to those in the US and Canada. Thailand is a potential location for senior healthcare and retirement services as a result of the world’s aging population and the increased demand for specialized geriatric care. The broad range of services offered by healthcare providers is another important factor propelling the expansion of the medical tourism industry. Advanced medical infrastructure is available, government assistance is growing, technology is always advancing, and value-based care is provided.
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Restraints: Despite its global prominence, Thailand’s medical tourism industry confronts various challenges. One important problem is the language barrier, as not all healthcare personnel are fluent in languages other than English, which might hinder communication with non-English-speaking patients. Additionally. The growing demand for medical tourism also puts strain on Thailand’s healthcare system, resulting in a scarcity of healthcare experts and creating worries about service quality for both international and domestic patients. Periodic political instability and safety concerns may dissuade travelers from visiting Thailand for medical treatment. Finally, environmental concerns such as seasonal air pollution (haze) and the risk of tropical disease can reduce the country’s appeal to medical tourists.
Thailand medical tourism market was negatively harmed by the COVID-19 outbreak. It rocked the travel and tourism sector to its core. Leading healthcare providers experienced significant losses as travel restrictions related to the COVID-19 pandemic had a detrimental impact on medical services provided to medical tourists. Most of the persons employed in this industry suffered financial setbacks. Strict rules and travel limitations caused a sharp drop in patient arrivals, which had a significant effect on the market as a whole. Less travel due to restrictions around the world caused a big dip in the overall medical tourism market.
Thailand medical tourism market is dominated by Bangkok due to its world class hospital services, cutting edge medical facilities and easily accessible to international tourists. Major players in the market are Asia Cosmetic Getaways, Bookimed Limited, Health-Tourism.com, Jet Medical Tourism, Lotus Medical International.
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Thailand Medical Tourism Market Analysis
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