Monday, July 1, 2024 Medical tourism is on the rise, as indicated by corporate discussions highlighting its potential. An analysis of company filings, according to the Company Filing Analytics Database by GlobalData, points out that businesses are tailoring their services to meet the demands of international patients. This includes access to qualified healthcare professionals, advanced treatments, and top-tier facilities.
Additionally, factors like affordable high-quality medical care, good travel connectivity, and supportive government policies are essential in drawing medical tourists to countries. This sector is also proving to be a lucrative revenue source. For example, Max Healthcare Institute Ltd reported a 14% increase in international patient revenue in 2023.
Similarly, Fortis Healthcare Ltd saw a 12% rise in its medical travel revenue in the 2024 fiscal year. Misa Singh , Business Fundamentals Analyst at GlobalData, comments: “Vying for a pie of this big opportunity, businesses are seen discussing strategies such as participation in expos in other countries, expanding agents network, and working with or licensing technology to third parties in countries other than the company’s headquarter country to make certain therapies available for patients traveling abroad for treatment. “Meanwhile, some are focused on positioning themselves as a key destination for international patients in certain areas of medical care.
Other prominent discussion agendas include complia.