Medical tourism worth US$32.5bn by 2019: Transparency Market Research

The value of the global medical tourism market is set to reach over US$32 billion by 2019, according to a report recently published by market intelligence company Transparency Market Research.

This figure is up from $10.5 billion in 2012, showing a rise of 17.9 per cent CAGR. One of the destinations predicted to see greatest growth is Malaysia, with CAGR of over 25 per cent anticipated over the next six years.

The report outlines reasons for Malaysia’s popularity for medical tourists, such as its cost advantages over strong markets in Thailand and Singapore, its well-developed healthcare infrastructure, highly skilled professionals and robust support for the industry from the Malaysian government.(Arabian Travel Market)