While cost is the main driver for medical tourism, in America gaps in or a complete lack of health insurance cause people to seek medical attention elsewhere. Medical Tourism Market Overview: The global medical tourism market size accounted for $104.68 billion in 2019, and is projected to reach $273.72 billion by 2027, registering a CAGR of 12.8% from 2019 to 2027 in terms of value. With an international standard being followed patients now have less to worry about, including required follow up treatment at home. Reviewing a doctor's credentials and talking with previous patients is highly recommended when seeking quality healthcare. Copyright © 2008 - 2020 Health-Tourism.com, All Rights Reserved, In 2015, it was estimated that medical tourism generated between. While distance to a destination is not the deciding factor in the majority of cases it does. South Korea’s healthcare systems are among the best in Asia. The fall of the USSR has brought a swathe of patients in to Poland from the UK and Hungary receives most of its influx from Western Europe. The global Medical Tourism market size is undoubtedly important. This is not to be expected in South Korea. While Mexico is the best known country in the Americas for foreigners seeking care, Brazil stands out as one of the most advanced places in the region. If we include not only medical treatments carried out by differing service providers but dental and cosmetic procedures as well, the numbers paint a very different picture. The expectation of good care abroad comparable to that of domestic medicine is a main concern of medical tourists. The country’s general health office is called the Ministry of Health and Welfare. Public and private employees are covered by healthcare insurance, as mandated by the government, and many hospitals continually … All RIGHTS RESERVED. Nearly 400,000 medical tourists visited South Korea in 2013 and that number is projected to rise to 1 million by 2020. In the past, medical travel was simply travelling to obtain medical care and treatments that were not available where they were. The global medical tourism market is expected to grow with a CAGR of 8.5% during the forecast period. From 2010 to 2013, there has been a steady growth rate of 30%, and as of 2014, the trend seems ever-consistent. While exact statistics for medical tourism are difficult to confirm, these estimations indicate a strong potential for medical tourism in the future. Korean Medical Tourism Statistics. According to the latest statistics by Korea Health Industry Development Institute (KHIDI), the number of people traveling to Korea for medical tourism is nearly reaching a whooping 300,000. Some countries that offer cheap medical cover also risk the patients’ lives. The number of medical tourists visiting the nation is expected to reach almost 1 million in 2020. Medical Tourism Statistics. For example, heart surgery in the United States costs more than $140,000 dollars, while in India, the total expenses come down to approximately $5,200. The industry is now much more closely studied, as interest has grown with public popularity, giving a more accurate outlook of upcoming trends. As a result. A study published in the, This is no small amount of money and countries in Asia and the Middle East are moving to capitalise on a global business that is worth, Over the last few years, medical tourism has gained popularity among highly industrialized countries such as the United States. 10, Segye-ro, Wonju-si, Gangwon-do, Republic of Korea 26464. Are medical treatments of the same quality overseas as they are in an industrialized country? Recent advancements in data gathering and communication have revealed the full extent of recent growth. • Medical tourists elect to travel across international borders to receive some form of medical treatment Treatments may span the full range of medical services Most common: dental care, cosmetic surgery, elective surgery, and fertility treatment – OECD, 2010 • No agreed definition of medical tourism exist; as a result methods applied by countries vary substantially Compared to procedures done in the US, patients can save between 30 and 85% if they have the treatment in South Korea. There is no doubt that the medical tourism industry is on the rise. protect against volatilities in the market. In 2017, one million medical tourists visited the country, 600,000 of whom were from Indonesia. Satisfied American patients reported gaining savings from 25% to 75% depending on the type of services required and can reach as high as 90%. Clinicians and clinics will have patient data that can be transferred and discussed more easily, and attract lucrative overseas client once the seal of approval has been given by the JCI. Revenue from medical tourism is expected to jump to 3.5 trillion won in 2020 from 1.01 trillion won in 2013. While most would think that medical travelers seek cheap and fast medical attention, some facts in a. Savings vary per country and depend on the type of procedure required. Some include health and wellness tourists in this bracket, or even returning expatriates with a right to treatment in their home country. There is no definition of a medical tourist, or … In North Africa and the Middle East there is a $1 billion market. The colonial past between the UK and India has produced a strong medical skills and treatment exchange between the two countries. Regular health checks made up the majority share of Chinese medical tourism in 2016, representing over 50% of all medical tourism trips for tourists originating in China. With medical tourism still in its early stages, gaining reliable data is challenging. Over the past twelve years, Patients Beyond Borders print editions and digital publications have helped guide thousands of patients from all over the world to the right medical choices, with safe, satisfying, affordable outcomes. In the Middle East the Dubai HealthCare Committee (DHCC) is attempting to keep medical tourism within the Middle East instead of losing them to cheaper Asian countries. Medical Service Usage Statistics by Region; ... Korean Tourism Statistics; Cultural Heritage Management Status; Library Statistics in Korea; Housing / Land Use. The data currently available on medical tourism is notoriously poor, patchy and unreliable. Korea, a Technological Leader in Medical Services In Seoul, it’s common to see people on the subway watching TV or surfing the internet on their mobile phones. What statistics are currently produced in Korea? Korea is an emerging international hub of medical tourism. The top ten medical tourism destinations are Japan, Korea, the US, Taiwan, Germany, Singapore, Malaysia, Sweden, Thailand, and India. As people around the world become more familiar with each other, new travel routes open up. Initially, South Korea was the preferred destination for spinal problems only but currently, it is emerging as an ideal destination for dental issues, organ transplants, cancer treatment and many others. This is due to the combination of quality and low price. This sector has long been notorious to analyse. Medical tourism is an industry that continues to grow from strength to strength each year. Hong Kong Korea Health Industry Development Institute Below, we have compiled brief answers to some of the queries we receive most often. For people that need these procedures completed or can’t afford a cosmetic procedure in their home country, however, there are not many options available. It is an activity worth between 50 and 70 … And the government plans to use these achievements to boost medical tourism. Discussed below are the pros and cons of medical tourism: The Pros • Money savings: This is the biggest driver of medical tourism. Familiarity and cultural similarity is emphasized to try and bring back diaspora. COPYRIGHT(C) STATISTICS KOREA. At the last available count in 2016, 390,000 people travelled to Korea as a medical tourist compared to the overall patient volume of 14 million. Malaysia received numerous awards and global recognition from International Medical Travel Journal. Statistics of South Korea in Medical Tourism The country has a robust medical tourist industry. As both patients, practitioners and service providers look towards the future a common aim is that of a seamless and reliable experience. Although these medical tourism statistics show favorable figures, patients traveling abroad should research facts about the facilities and services regarding U.S. accreditation. Outbound Medical Tourism In 2007, an estimated 750,000 Americans traveled abroad for medical care. According to the Medical Tourism Association, about 14 million people in the world travel to other countries in search of medical care annually. Our research and editorial team works hard to assemble . Companies like Hannaford Bros. Co. located in Maine are considering. The research report titled “South Korea Medical Tourism Market Insights, Opportunity, Analysis, Market Shares & Forecast 2017 – 2022” provides detailed information on the South Korea Medical Tourism Market. All RIGHTS RESERVED. The following list of the top American foreign medical procedures will not surprise you as it is populated by these very procedures that have restricted access. It is estimated that the global medical tourism industry will grow at a compound annual growth rate of 17.9% in 2013-2019, reaching USD32.5 billion in 2019. We introduce hospitals and medical facilities to patients but not offer medical services. Korea Tourism Organization. Korea, Monthly Statistics of Tourism(1975~1996) Home Tourism Statistics key facts on tourism Korea, Monthly Statistics of Tourism Statistics of Arrivals & Departures by Item Different countries add up the numbers differently. Procedures surrounding cosmetics, dentistry, fertility or even weight loss are commonly not viewed upon kindly by insurance companies. One segment comprises of people who travel to other countries for rejuvenation purposes and the other comprises of people who One of the greatest shortcomings of the medical tourism industry is the lack of hard facts and statistics. Whether you are receiving surgery in the US or abroad, there are always risks involved. Korea Tourism Organisation Korea Medical Tourism Bibliography 2013. COPYRIGHT(C) STATISTICS KOREA. The UK has recently announced the need for improved quality standards for cross border care. Government Complex-Daejeon, 189 Cheongsa-ro, Seo-gu, Daejeon 35208, Republic of Korea TEL +82-2-2012-9114, KOSIS - KOrean Statistical Information Service, Statistics on Foreign Residents by the Local Governments, Population Statistics Based on Resident Registration, Youth Survey on Usage of Media and Harmful Environment, Report on the Industrial Accident Compensation Insurance, Survey on the Status of Fixed-Term Workers in Establishments, Survey on Immigrant’s Living Conditions and Labour Force, Survey of Household Finances and Living Conditions, Korea National Health and Nutrition Examination Survey, Report on Health Care Services Utilization, National Health Insurance Statistical Yearbook, Report on Actual Condition of Public Sanitary, Production of Food Manufacturing and Processing Establishments, Epidemiological Survey of Psychiatric Illnesses in Korea, Medical Service Usage Statistics by Region, Evaluation of the Quality of Medical Benefits by Healthcare Institution, The statistics of pharmaceutical consumption and sales, Livelihood Protection Recipients Statistics, Report on Children and Employees at Welfare Facilities, Report on the Elderly and Employees at Welfare Facilities, Statistics on Childcare Facilities and Users, Classified report on protection child in home atmosphere, The Survey on the Actual Conditions of Older Person in Korea, National Geographic Information Statistics List, Survey on Actual States of SMEs(Small and Medium-sized Enterprises), Monthly Estimated Index of Equipment Investment, Business Survey on Micro-Sized Establishment and Traditional Market, Survey on Forecast for Small and Medium Business, Census of Agriculture, Forestry and Fisheries, Agricultural and Livestock Production Cost Survey, Assorted Feed Products and Ingredient Usage Report, production and consumption of milk and milk products, Statistics of Inspection of Imports and Exports of Fisheries Products, Monthly Survey of Mining and Manufacturing, Monthly Survey of Machinery Orders Received, Statistics on Building Permission and Commencement Works, Monthly Survey of Construction Orders Received and Value of Construction Completed, Yearbook of Road Bridge and Tunnel Statistics, Information and Communication / Science and Technology, Report on Survey of Domestic Bio-Industry, The statistics of Internet Address Resources in Korea, Price Index of Commodities Received and Paid by Farmers, Survey on Construction Management Engineer`s Wage, The Survey of Rice Price in producing district, Statistics of Securities and Derivatives Markets, Loan Officer Survey on Financial Institation Lending, Small & medium Business Export Statistics, The status of waste recycling and recycling companies, Result of Soil Quality and Contamination Monitoring, Status of Investment in Specialized Environmental Construction Business, Korea National Environmental Health Survey, Survey on deployment of New & Renewable energy, Statistics of Generation Facilities in Korea, Economically Active Population Survey in November 2020, Supplementary Results of the Economically Active Population Survey for Non-wage Workers and the Economically Inactive Population in August 2020. This will reach 598,000 in 2015 and 998,000 in 2020. Possibly, but possibly not. The Republic of Korea is a country of limitless potential with progressive hospitals of the future, supercomputers for treatment, innovative procedures. South Korea is a popular destination for medical tourism, only surpassed by the U.S. and Germany, according to a Korean survey of medical tourists in 2017. About Korean Medical Tourism. As fertility decreases in the MENA region the demand for IVF and related services grows. By 2022, South Korea expects to host 998,000 medical tourists. The Malaysian Ministry of Finance expects the number of medical tourists to increase significantly to two million by 2020, following the tax exemption for medical bills. For example Korean health care services to those settled or second generation within the United States, Australia and New Zealand. To give an average overview of the savings made for all procedures we have compiled this list from, As the world of medical tourism grows, so does the, These medical tourism facts indicate a bright future for this industry. SRI (Statistics Research Institute) Related Sites 닫기 Government Complex-Daejeon, 189 Cheongsa-ro, Seo-gu, Daejeon 35208, Republic of Korea TEL +82-2-2012-9114 About 1.9 million of them are Americans. The Korea International Medical Association has been formed to encourage medical tourism. The Medical Tourism Association is a Global Non-profit association for the Medical Tourism and International Patient Industry. A lack of health insurance is the most common factor for medical travel, but the report recognised a patient need for accessibility, experience focused offerings and an increasing desire for high quality care. the most accurate, current information on international medical travel, global healthcare, and the international patient experience. This office works with the government and other health agencies in the country in making and enforcing policies regarding public health and safety. One reason is that Korea … This is beneficial for both parties. What information is provided through KOSIS? Americans can save up to 90% on the cost of a medical treatment by going overseas. South Korea is one of the most popular medical tourism destinations in the world. Medical tourism comprises of two different segments. Medical tourism facts and statistics. As described in Figure 1, there are three categories of medical tourism: outbound, inbound and intrabound (domestic). As a result there are many unknowns to calculate or assume when looking at the medical tourism market. Therefore we do not undertake responsibility of medical information or medical services provided by medical facilities. Around 20 million people in the world travel for medical tourism every year. The number of medical tourists from the United has increased from. What we do know is that a significant majority of travelers will not declare medical interventions as their reason for travel. Since 1999 the Joint Commission, which is a U.S. governmental body has been expanding overseas. This report analyzes market data and provides a better understanding of medical tourists flow and revenue to South Korea. The original purpose of the commission is to ensure the same standards of quality and care are being met across the States. Broadly speaking, medical tourism is the act of traveling to obtain medical care. This industry may be relatively new, but it is growing rapidly in some locations. How can I download statistical data as a file. Old ties still prevail however, the UK continues to have close ties with both Spain, Malta and Cyprus for example. serviced by Turkey but also increasingly by the United Arab Emirates and Saudi. Thanks to its skilled medical practitioners with lots of clinical experience, cutting-edge medical technology, reasonable prices, prompt and efficient diagnostics, and state-of-the-art IT-based medical infrastructure, Korea is becoming a new leader of the global medical Top medical travel contributing states are Penang, Kuala Lumpur, Selangor, Melaka and Sarawak. Now its international body, the. The size of the Asia Pacific Medical Tourism Market was worth USD 7.79 billion in 2020 and estimated to be growing at a CAGR of 22.4%, to reach USD 19.87 billion by 2025.. 25 statistical table(s) you have recently searched are saved. After visitors number more than doubling in the last 5 years. Brazil is the world capital for plastic surgery medical tourism, owing to the country’s image-conscious culture. 2018 Bloomberg Innovation Index ranked Korea the most innovative country for the 3rd year in a row. 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