Medical tourism: Asian tigers reign supreme
Unspoiled beaches, dense rain forests, ample wildlife and the tropical climate have made the South East Asian states such as Malaysia and Thailand favourite destinations for tourists from all over the world over the past 20 years.
Finding themselves well positioned to catch the foreign exchange flowing out of the pockets of international travelers, the private sector players in these countries jumped to the fore with hundreds of splendid shopping malls, theme parks and other tourist attractions; all inviting tourists to spend more during their stay.
Over the past two decades, countries such as Malaysia have witnessed rising income levels and the general standard of living of citizens has improved in tandem. Due to the improved purchasing power of the local population, demand for the health and educational sectors has also soared.
Realising the potential benefits of a budding medical industry, the government has actively encouraged private healthcare providers and practitioners alike to set up operations in the country. Now, not only is this sector providing medical services to the local population; it is also eyeing potential clientele abroad.
“Healthcare costs in the West have always been relatively high. But now, as those economies slow down, people are ever more conscious of the affordability of healthcare services as much as they value the quality of these services” explained Sarah Albert from the Island Hospital, Penang in a recent interaction with BR Research.
Singapore has long been a favoured destination for those seeking quality healthcare services at affordable rates. Now its regional peers are also ratcheting up a storm in the sector, developing expertise in myriad medical services.
Malaysia is emerging as a major destination for those seeking knee cap replacement, spinal fusion and other joint-related surgeries and medical procedures.
Meanwhile Thailand is now home to an ever-increasing number of cosmetic surgery and related services providers including liposuction, facelifts and anti-ageing treatments. In India, heart-related ailments are being treated at world-class facilities at rates that are competitive globally. In all these cases, the low cost of quality health care services is a major driving force behind the rising trend of medical tourism to these destinations.
Though only the relatively affluent Pakistanis can afford to travel abroad to receive medical attention for their ailments, the emergence of the Far East as a destination for medical services bodes well for the not-so-wealthy. “Traveling to Malaysia or Thailand is not as expensive as going to Europe or North America and the visa process is also relatively easier. Then the cost of obtaining these services is also much lower in these countries” explained Director of Lahore-based, Waseem Travel and Tours, Malik Muhammad Yaqoob.
Add to this the globally competitive rates and quality of medical services in these countries and it is easy to rationalise the emerging trend of medical tourism there from Pakistan and abroad.
| Cost of Medical Procedures | |||||
| USD | US | India | Thailand | Singapore | Malaysia |
| Heart Valve Replacement | 160,000 | 9,000 | 10,000 | 12,500 | 9,000 |
| Hip Replacement | 43,000 | 9,000 | 12,000 | 12,000 | 10,000 |
| Hyterectomy | 20,000 | 3,000 | 4,500 | 6,000 | 3,000 |
| Knee Replacement | 40,000 | 8,500 | 10,000 | 13,000 | 8,000 |
| Spinal Fusion | 62,000 | 5,500 | 7,000 | 9,000 | 6,000 |
Headlines 