Top 5 Medical Tourism Destinations

Medical tourism destinations have emerged all over the globe, from Thailand to South Africa, and even European countries such as Hungary. The industry anticipates a great deal of growth in the coming years, from a 2004 estimate of $40 billion to $100 billion by 2012, according to statistics produced by McKinsey & Company and the Confederation of India.

Experts believe that medical tourism will have a positive impact on the economies of destination countries and benefit skilled and unskilled trades alike. The medical tourism phenomenon may also bode well for foreign investors who hold an interest in those countries.

Below, are the Top 5 Medical Tourism Destinations which present the most attractive opportunities for medical tourists and foreign investors alike. These markets were selected based on quality and affordability of care as well as receptiveness to foreign investment.

It should also be noted that medical staffs in the following countries are largely English-speaking, and thus language barriers do not pose a major obstacle for foreign patients.

1. Panama

Panama offers significantly lower costs for medical procedures just south of the U.S. border. Costs, on average, are 40 to 70 percent lower than costs of similar surgeries in the U.S., according to a report on medical tourism published by the National Center for Policy Analysis (NCPA) last November. Although costs for medical procedures are generally higher compared to those of Southeast Asian countries, travel costs from the U.S. to Panama are considerably lower.

2. Brazil

Brazil has become an international mecca for cosmetic and plastic surgeries. Its road to fame in medical tourism began with Ivo Pitanguy, the world-renowned plastic surgeon who opened a clinic outside of Rio de Janeiro more than 40 years ago. It is the second largest market for plastic surgery in the world, behind the U.S., which is most likely attributed to the high quality of service and low cost compared to other countries.

3. Malaysia

Malaysia’s medical tourism industry has seen staggering growth over recent years. The number of foreigners seeking healthcare services in Malaysia has grown from 75,210 patients in 2001 to 296,687 patients in 2006, according to the Association of Private Hospitals Malaysia. The large volume of patients in 2006 brought approximately $59 million in revenue. The Association of Private Hospitals Malaysia projected that the number of foreigners seeking medical treatment in Malaysia will continue to grow at a rate of 30 percent a year until 2010.

4. Costa Rica

Costa Rica, like Panama, has become a popular destination among North American patients for inexpensive, high-quality medical care “without a trans-Pacific flight,” according to experts quoted in the University of Delaware’s UDaily news in 2005. The convenience of travel has made the country a particularly attractive destination for American patients, as Costa Rica can be reached from most U.S. cities within seven to 10 hours of flight time.

5. India

India, arguably, has the lowest cost and highest quality of all medical tourism destinations, according to a report on medical tourism published by the National Center for Policy Analysis (NCPA) last November. Several hospitals are accredited by the Joint Commission International (JCI) and utilize highly trained physicians and cutting-edge medical technology. But India comes in fifth on our list rather than first because of the amount of restrictions placed on foreign investors and the distance Americans must travel to get there.