In an era of global aging societies, the burgeoning field of medical tourism has found a haven in Thailand. Renowned for its exemplary healthcare system, advanced facilities, and competitive pricing, Thailand stands as a beacon for those seeking comprehensive medical solutions and rejuvenation. This introduction delves into the trends shaping medical tourism, Thailand’s prominence in the industry, and the evolving landscape of health and wellness in a post-COVID-19 world.
1. Global Aging Society Impact
The global shift towards an aging society has spurred the growth of the medical tourism business. While Japan and Thailand have both entered complete aging societies, the Asia Pacific region is rapidly following suit. The population aged 60 and above is projected to increase from 1 billion in 2020 to 1.4 billion by 2050, impacting workforce dynamics and economic growth. Consequently, there is a growing emphasis on healthcare, with businesses related to health and wellness anticipated to thrive.
Thailand, having entered the aging society in 2005 and fully embraced it in 2022, serves as an example. Statistical data from the Department of Elderly Affairs reveals a significant elderly population, reaching nearly 20% of the total population, expected to progress into a ‘Super Aged Society.
Globally, the population aged 80 and over is expected to triple from 2020 to 2050, reaching 426 million. This aligns with the emerging mega-trend of Health and Wellness, encompassing not only maintenance and rehabilitation but also disease prevention.
- Aging society worldwide is driving the growth of the medical tourism industry.
- Japan and Thailand are examples of countries in complete aging societies, with the Asia Pacific region rapidly following suit.
- The global population aged 60 and above is projected to increase from 1 billion in 2020 to 1.4 billion by 2050.
2. Thailand as an Exemplar
Heightened demand for health services, influenced by the aging trend, is further accelerated by the aftermath of the COVID-19 outbreak. As the global situation improves, travelers are resuming cross-country journeys, focusing attention on Medical Tourism. The global medical tourism market is poised to exceed $180 billion in the next three years, with countries like Thailand, boasting a top-tier healthcare system, becoming popular destinations.
In 2023, Thailand is expected to maintain its allure for global tourists seeking relaxation and health restoration. The country’s healthcare system, ranked among the world’s top 5, is well-prepared for outbreaks, with a commendable public health system and low medical expenses per capita. Despite a drop in revenue during the COVID-19 pandemic, Analytics forecasts continued growth in medical tourism in 2023, reaching revenues of 25 billion baht.
- Thailand entered the aging society in 2005 and fully embraced it in 2022.
- Statistical data shows a significant elderly population, nearing 20% of the total, expected to progress into a ‘Super Aged Society.’
- Global population aged 80 and over is expected to triple from 2020 to 2050, reaching 426 million.
3. Health and Wellness Mega-Trend
While shifts in urine color are usually benign, certain signs warrant prompt medical attention:
- Growing emphasis on healthcare, with businesses related to health and wellness expected to thrive.
- Post-COVID-19, demand for health services increases, influencing medical tourism.
- The global medical tourism market is poised to exceed $180 billion in the next three years.
4. Thailand’s Position in Medical Tourism
- Thailand maintains allure for global tourists seeking relaxation and health restoration in 2023.
- Top-tier healthcare system, preparedness for outbreaks, commendable public health system, and low medical expenses per capita contribute to Thailand’s popularity.
- Despite a drop in revenue during the COVID-19 pandemic, ttb analytics forecasts continued growth in medical tourism in 2023, reaching revenues of 25 billion baht.
5. Understanding Medical Tourism
Medical Tourism, the practice of seeking medical treatment in foreign countries, often for cost savings or specialized procedures like cosmetic surgery or orthopedics, has gained popularity.
Another related form is Wellness Tourism, often confused with medical tourism. Unlike the latter, Wellness Tourism focuses on maintaining health, reducing stress, and improving overall quality of life through activities like spa treatments, yoga, and anti-aging services.
Before the COVID-19 outbreak, 2019 recorded medical tourism income of around 24.7 billion baht. The pandemic led to a drastic 100% income reduction. As the situation improved in 2022, tourism resumed, with revenue estimates at 19 billion baht, reflecting 80% of 2019 income. Anticipated growth in medical tourists to 22 million, generating 25 billion baht, will mainly come from ASEAN, South Asia, East Asia, and the Middle East.
- Medical Tourism involves seeking medical treatment abroad, often for cost savings or specialized procedures.
- Wellness Tourism, a related form, focuses on maintaining health and improving overall quality of life.
- Pre-COVID-19, 2019 recorded medical tourism income of around 24.7 billion baht, drastically reducing during the pandemic.
- Post-COVID-19, anticipated growth in medical tourists to 22 million, generating 25 billion baht
- Significant contributions from ASEAN, South Asia, East Asia, and the Middle East.
6. Why Thailand for Medical Tourism?
Thailand excels in medical tourism with well-equipped facilities, competent medical personnel, modern technology, excellent service, and affordable treatment costs compared to other leading medical countries. Catering to the comprehensive needs of medical tourists, Thailand is also a favored general tourist destination.
In cost comparisons with the United States and 10 other countries, Thailand emerges as a cost-effective choice, offering savings ranging from 50-70%. This competitive advantage, along with other popular medical tourism destinations, positions these countries, including Thailand, favorably.
- Thailand excels in medical tourism with well-equipped facilities, competent medical personnel, modern technology, excellent service, and affordable treatment costs.
- In cost comparisons with the United States and 10 other countries, Thailand emerges as a cost-effective choice, offering savings ranging from 50-70%.
- Key provinces attracting medical tourists include Bangkok (62%), Phuket (15%), Pattaya (11%), Chiang Mai (7%), Samui (3%), and Hua Hin (2%).
- The world transitioning into an aging society enhances the importance of healthcare and medical tourism sectors.
Summary
As the world transitions into an aging society, with a growing elderly population, healthcare becomes pivotal for economic and societal well-being. The healthcare and medical tourism sectors are crucial, addressing the diverse health and vacation needs of people of all ages. Post-COVID-19, the Health and Wellness industry is anticipated to continue flourishing as the global population ages.
This comprehensive overview navigates the intersection of global aging societies and the thriving medical tourism industry, with a spotlight on Thailand. Unveiling statistical insights and projections, it explores the country’s journey into an aging society, the rise of health and wellness trends, and the continued growth of medical tourism. As Thailand emerges as a preferred destination, this summary encapsulates the key themes, from healthcare excellence to cost-effectiveness, shaping the evolving narrative of medical tourism.
