Medical tourism is going through a booming growth phase, according to Research and Markets. Medical tourism in Malaysia is ranked among the top five destinations for health tourism. The growth provides many opportunities for those in that industry, and the Malaysian government even has a web site devoted specifically to medical tourism.
"We are proud to be among one of the only countries within the region where medical tourism is promoted by the government," reads the web site. "This thus provides medical tourists the assurance on quality care, regulations, safety standards and the governing laws within this industry.
"Malaysia healthcare offers specialties in various medical disciplines and performs some of the most complicated treatments in the world," the site continues. "Today, the medical practices in Malaysia are at par with some of the best in the world, incorporating both sophistication as well as international expertise."
The market is growing despite a global economic downturn, with growth in every field of medical treatment. The market attracts 8.5 percent of all U.K. medical tourists.
Medical tourism is when people seek health care in another country to receive treatment at lower costs, and with the ever increasing costs of healthcare in the U.S. and other developed countries, many people are seeking more affordable treatment options in Malaysia.
The latest research study, "Booming Medical Tourism In Malaysia," found the areas offering the most promising possibilities for growth in the medical industry. Factors such as cost-effective treatments, skilled medical professionals and government support are driving the growth.
The report analyzes the medical tourism market in multiple aspects. It includes the existing medical infrastructure including hospitals, human resources in the healthcare field, and technological developments. The report also looks at what is driving the market to provide a more thorough understanding of market dynamics. This is intended to aid companies in their business strategies and to provide them with information that will increase profits, comparing the cost of treatment in Malaysia with the costs in other countries.
The report also breaks the market down into eight major segments. This has found that alternative medicine is a growing market in Malaysia. Tourists are interested in the practices that cure illnesses as well as increase the resilience of the immune system without side effects.
Finally, the study covers the major players involved in the industry and their recent developments so clients have a clear understanding of the best strategy to pursue when looking into the market, allowing them to determine the best strategy when looking to participate, whether in receiving treatment as a participant in medical tourism or as an investor.