Medical Tourism Report and Forecast for 2018 with Singapore in Focus

Medical Tourism Report and Forecast for 2018 with Singapore in Focus
Medical Tourism Report and Forecast for 2018 with Singapore in Focus
August 17, 2016

Medical tourism became a safe haven for Singapore and various other countries in South East Asia since the global financial crunch in the later part of 1990s. Singapore government began to invest heavily in her hospitals, building gigantic infrastructures, importing ultramodern facilities and employing the best brains from across the globe to meet the JCI standard for countries offering medical tourism. So far, her efforts have been rewarded as the number of foreigners that heads to the country to get treated for various medical reasons keeps rising. The projections into 2018 shows better things to come.

Details of the second Singapore Medical Tourism Report

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The second edition of the Singapore Medical report was written and published by Renub Research and titled “Singapore Medical Tourism Analysis and Forecast” provides a comprehensive analysis and projections of the Singapore medical tourism industry. The report was made up of seventy-four pages and sixty-four figures with an exclusive revelation of the highest number of countries that come to Singapore for medical treatment. Other important statistics in the report was the expenditure of medical tourists.

Expansion of the global medical tourism market

Global medical tourism began like mostly as a religious practice but has expanded over decades to become a very important market. Presently, people travel for various reasons including getting better medical treatment which are not feasible in their home countries, bypassing health laws in their home countries and most importantly, to exploit the gap in the cost of obtaining treatment for similar health conditions of fairly same standard like in their home country.Some countries especially the Caribbean are growing their medical tourism potentials and should be a force to reckon with in the coming decades as regards to having a great pool of medical tourists.

Projected statistics of medical tourists by 2018 in Singapore

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The growth of the global medical tourism market is expected to hit about 6.2% per annum by 2018. The years between 2007 and 2013 were very fruitful for the industry as medical tourism witnessed an annual growth of 7.0%. Of all the medical devices, electro-cardiograph was the most sought for with an average global demand of about 12.7%. Orthopedic and fracture devices comes next on the log.

A list of major devices sought for in Singapore medical tourism

Medical tourism is what it is today especially in Singapore because of the high-tech equipment that is constantly evolving and used to offer improved health care services to medical tourists. A list of the medical devices mostly on demand includes; electro-cardiographs, magnetic resonance imaging device, ultra sonic scanning devices, scintigraphic devices, medical and surgical sterilizers, needles for sutures, masks and breathing devices, therapeutic respiratory devices, dental fillings, hearing aids, x-ray devices, and so on.

The future of medical tourism in Singapore

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Medical tourism in Singapore as of today contributes more than 12% of the national per capita income. Medical tourists grew from a few hundred thousand in the nineties to millions in the early 21st century. Her earliest visitors were mostly citizens from neighbouring countries. However, recently, her patronage has grown to cover visitors from Europe, US and UK. The figure of European, UK and US visitors is expected to grow by more than 10% by 2018.

Article highlights:

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  • Medical tourism took off in Singapore in the late 1990s.
  • The success of medical tourism is directly related to the availability of ultra-modern devices.
  • Electro-cardiograph is the mostly sought device by the medical tourists.
  • The earliest patronizers of Singapore medical tourism were her neighbors.
  • Singapore medical tourism is expected to reach 6.25 per annum by 2018.
  • 2007 to 2013 saw the growth of medical tourism in Singapore by 7.0% per annum.
  • United states, Canada and Indonesia currently rank top among Singapore foreign visitors.
  • Global medical tourism began like a medical practice.
  • People travel for a number of reasons including lower cost of surgery.

 

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