Industry News: Volume 10, Issue 4

Korean Medical Tourism gaining momentum based on traditional medicine 

Drprem.com — Traditional Korean medicine has been boosting country’s medical tourism industry since last few years.  In 2016, over 18 thousand foreign patients visited South Korea seeking traditional treatments; a dramatic increase from around 13.22 thousand patients in the previous year as reported by Statista.com.

This constituted 4.2% of the 425, 380 medical travelers the same year reports Koreatimes. The number of medical travelers seeking Korean Medicine is up since 2014.  Maybe Traditional Korean Medicine is not as popular as Traditional Chinese Medicine (TCM) but still, it is drawing an impressive overseas crowd.

Medical tourism in South Korea has picked up since the last decade when the country started issuing short-term visas to foreign medical travelers. Korea Times reports the number of annual medical travelers has grown in leaps and bounds by 52.2% last four years including 2017.

China, USA, Japan and Russia continue to be the main source countries who seek Korean medicine along with conventional medicine but there has been a growing interest in traditional medicine from Uzbek, Mongolian and European travelers.

In view of the goals set by the government to attract more than 1 million foreign medical travelers by 2020, Traditional Korean Medicine has a big role to play. It is set to be a game changer in the country’s medical tourism industry.

To view the original article in its entirety, please click here.

Latin America Medical Tourism: Trends and Opportunities 

Drprem.com —Latin American destinations are racing fast to occupy a major chunk of medical tourism market share. NearshoreAmericas.com states that an estimated 23 million US citizens are likely to opt for medical tourism in 2017 spending nearly $80 billion and 50% of those treatments are to be sought in Latin American countries.

Medical tourism market of Latin America worth $ 4.33 billion in 2016 has been estimated to grow at 18.9% CAGR and touch $10.30 billion by 2021 reports Market Data Forecast. The huge cost savings of almost 40-70% in almost all major medical procedures down in the south fascinated the North Americans who are crowding these countries with a dual objective of vacationing and treatment.

The destinations are scenic and healthcare support is super class. The devaluation of Latin American currencies has further sweetened the deal for medical tourists.

To view the original article in its entirety, please click here.

Leave a Reply

Top