The document discusses identifying international marketing opportunities in the medical services industry. It notes that the global medical tourism industry was worth $40 billion in 2004 and is expected to reach $100 billion by 2012, growing at an annual rate of 35%. India has the potential to attract 1 million medical tourists annually, contributing $6 billion to its economy. Key factors driving the emergence of international medical services markets include the rising elderly population in developed countries, increasing costs and capacity constraints in domestic healthcare systems, and India's significant cost advantages compared to countries like the US for various treatments.
2. CASE SUMMARY
Global medical tourism industry: $ 40 billion
(2004) $100 billion (2012)
Expected annual growth: 35%*
Thailand has emerged as the biggest
destination
India has the potential to attract 1 million
tourists per annum, which could contribute to
$6 billion to the economy**
Opening of international markets under WTO to
fuel growth in this sector
Sources: *Medical tourism: Update and implications Deloitte;
**Confederation of Indian Industry
3. TRENDS PREDICTED BY WTO
Cross border delivery of trade to become
significant
Telemedicine is also on the rise
Setting up of hospital chains in international
countries to become another important frontier
Global movement of healthcare professionals
to be on the rise
4. INDIA’S ADVANTAGE
Major destination of cost effective medical
tourism
Medical tourists are coming from diverse
geographies
India has a large workforce of healthcare
professionals
Increasing world elderly population has a
potential for India's medical tourism
Healthcare systems in these countries are under
severe pressure for delivering cost effective
treatments
5. IDENTIFY THE FACTORS CONTRIBUTING
TO THE EMERGENCE OF INTERNATIONAL
MARKETS FOR MEDICAL SERVICES
6. COST ADVANTAGE
USA India South Africa Thailand
Hip Replacement 17,000 2,500 6671 NA
Open Heart Surgery 150,000 5,000-10,000 13,333 7,500
Lasik 3,100 700 2,166 730
The table shows the cost of certain medial treatments in USD in India compared with
other countries
We can see that India has a clear cost advantage
7. INCREASE IN ELDERLY POPULATION
This increase is experienced in USA, UK, Japan,
and other major European countries
Population of 65+ aged people to double in USA
over the next 15 years
In UK, population with 60+ aged to form 25% of
the population
There is an increasing life expectancy in these
parts
Health insurance premium goes up exponentially
as age progresses
8. INCREASING STRESS IN DOMESTIC
HEALTHCARE MARKETS
Doctors and nurses joining the workforce in USA,
UK, and Japan are not keeping pace with the
growing demand
There is an increasing cost of healthcare
9. IDENTIFY THE AREAS WHERE IN INDIA OR
YOUR HOME COUNTRY HAS GOT
STRATEGIC EDGE IN HEALTHCARE
SERVICES VIS-À-VIS OTHER COMPETING
DESTINATIONS FOR MEDICAL TOURISM
10. COST ADVANTAGE (2003)
USA India South Africa Thailand
Hip Replacement 17,000 2,500 6671 NA
Open Heart Surgery 150,000 5,000-10,000 13,333 7,500
Lasik 3,100 700 2,166 730
The table shows the cost of certain medial treatments in USD in India compared with
other countries
We can see that India has a clear cost advantage
12. STRATEGIC EDGE
Provides holistic treatment, including Ayurveda,
to a variety of chronic diseases
Large workforce of doctors: 20,000 graduating
every year
World class facility in cardiac surgery,
orthopaedic, neurosurgery, and Lasik
13. EXPLORE THE WEB AND CARRY OUT A CROSS-
COUNTRY ANALYSIS OF THE MAJOR
DESTINATIONS OF MEDICAL TOURISM AND
IDENTIFY THE RANGE OF SPECIALIZED
SERVICES OFFERED ALONG WITH THEIR
STRENGTHS AND WEAKNESSES
14. PANAMA: OVERVIEW
Major clients come from USA and UK
Investment boom in health care industry
Development of super speciality hospitals
Development of skilled workforce for healthcare
Two pronged strategy for healthcare and tourism
15. PANAMA: MAJOR SERVICES
Dental care and related services
Cosmetic surgery and other corrective services
Orthopaedic services
Cardiovascular treatment
Fertility
Stem Cell research
16. PANAMA: ADVANTAGES
Low cost
Hotel services-most hotels have expanded their
services to include that of being a link between
inbound patients and medical tourism service
Travel agencies-capitalizing on their experiences
and skills in tourism, travel agencies have
packages that medical travellers can purchase to
enable them tour various parts of the country
Medical service planners-this category of
facilitators are instrumental in the entire medical
tourism loop.
17. PANAMA: DISADVANTAGES
Lack of regulation
Need for development in strong institutional
capacity
Source: http://medicaltourismtoday.com/medical-tourism-in-panama/
18. BRAZIL: MAJOR SERVICES
Cosmetic and plastic surgery
Fertility treatment
Neurosurgery
Cardiac surgery
Dermatology
Dental treatments
Hair transplants
19. BRAZIL: ADVANTAGES
Low cost
Very high quality health services
Rest and recuperate within Brazil in one of its
many seaside resort locations
Most Brazilian hospitals accept worldwide
international medical insurance
Availability of medical tourism facilitator services
20. BRAZIL: DISADVANTAGES
Cost is still higher compared with Asian countries
Source: http://www.allmedicaltourism.com/articles/destinations/brazil/
21. COSTA RICA: MAJOR SERVICES
Cosmetic surgery
Aesthetic procedures
Orthopaedic surgery
Dentistry
Bariatric and laparoscopic surgery
Fertility and addiction treatments
22. COSTA RICA: ADVANTAGES
Low cost
A wealth of high grade medical facilities, world
class medical professionals as well as a WHO
acclaimed health care system which is at par
with the ones in developed countries like the
United States and the United Kingdom
Good quality of care given before and after
surgery.
Physicians in Costa Rica spend more time with
their patients compared to doctors in the United
States. quality of care given before and after
surgery
23. COSTA RICA: DISADVANTAGES
Need to develop capacity
95% clients from USA, need to diversify the client
base
Source: http://medicaltourismtoday.com/medical-tourism-in-costa-rica/
24. PREPARE A STEP-BY-STEP FLOW
DIAGRAM OF THE SELECTION PROCESS
OF MEDICAL TOURISM DESTINATION FOR
OVERSEAS PATIENTS
27. IDENTIFY VARIOUS FACTORS THAT INFLUENCE
A PATIENT’S DECISION FOR CHOICE OF A
COUNTRY AND THE HOSPITAL FOR MEDICAL
TREATMENT. PRIORITIZE VARIOUS FACTORS
AND ASSIGN WEIGHTS SO AS TO ARRIVE AT A
DECISION.