Thailand Medical Tourism Market forecast to hit USD 57.49 Billion by 2033, driven by a CAGR of 16.1% | SPER Market Research
Traveling abroad for medical treatment is known as medical tourism, and it frequently combines medical treatment with recreational pursuits. It enables patients to receive top-notch medical care at a reduced cost than in their own country. Orthopedic operations, dental work, reproductive treatments, and cosmetic surgery are among the common procedures performed during medical travel. Patients are sometimes drawn by reduced waiting times, better technology, and specialized knowledge offered abroad. Additionally, medical tourism gives patients the chance to recuperate in enticing, vacation-like environments. Many facilities in popular medical tourism destinations are recognized by international healthcare organizations. The idea has gained traction as a result of the growing expense of healthcare and lengthy waiting lists in many wealthy nations.
According to SPER Market Research, ‘Thailand Medical Tourism Market Size- By Treatment Type, By Services, By Tourist Type, By Tour Type, By Booking Channel- 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: There are several elements that propel the medical tourism sector in Thailand. The provision of cost-effective, high-quality healthcare is one of the main factors drawing people from nations with expensive healthcare systems. Thailand is renowned for its top-notch medical facilities, many of which hold international accreditation and provide cutting-edge surgeries and treatments including dental work, reproductive treatments, and cosmetic surgery. The country’s experienced medical personnel and cutting-edge technologies further boost its status as a top destination for medical tourism. Furthermore, Thailand’s allure as a travel destination its vibrant culture, pleasant temperature, and health retreats offers patients a compelling opportunity for rehabilitation. Significantly contributing to its rise is the government’s assistance, which includes streamlined immigration regulations and promotion of medical tourism.
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Restraints: There are several obstacles facing the Thailand medical tourism industry that might prevent it from expanding. The language barrier is a major obstacle as poor communication between medical staff and patients from other countries might lower the standard of service. Concerns over the uniformity of standards across all medical institutions may also discourage some patients, especially those pursuing difficult therapies, even in the face of the excellent healthcare provided. Another issue is competition from other developing medical tourism destinations, such Malaysia and India, which provide comparable treatments at affordable costs. Furthermore, Thailand’s appeal as a centre for medical tourism may be impacted by political unrest or modifications to travel restrictions, such as those pertaining to visa requirements.
The COVID-19 pandemic had a substantial negative influence on Thailand’s medical tourism market, resulting in a steep fall in the number of international patient visits. Numerous hospitals had to temporarily close or scale back operations, which resulted in cancelled surgeries and lost income. But the epidemic also brought attention to the importance of high-quality healthcare. The Thai government put strict health regulations in place to guarantee patient safety. Rekindled demand in Thailand for medical services, especially wellness and recovery therapies, coincided with the relaxation of regulations. The focus shifted to telemedicine and remote consultations as well, molding medical tourism in Thailand for the future and adjusting to the new normal.
Bangkok dominates Thailand Medical Tourism Market due to its world-class hospitals, affordable healthcare services, and well-established reputation for advanced medical treatments and wellness programs. Major players in the market are Asia Cosmetic Getaways, Bookimed Limited, Health-Tourism.com, Jet Medical Tourism, Lotus Medical International, Lyfboat Technologies Pvt Ltd, Others.
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Thailand Medical Tourism Market Analysis
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