Thai hospitals at forefront of industry in Southeast Asia

 05-Jan-16, AsiaOne Business

Major Thai hospitals are expanding their presence throughout Southeast Asia. The region was first considered as a hub for medical tourism about a decade ago. Thailand, Singapore and Malaysia are now major players in the industry.

Image: Dr Prem Global Healthcare

The medical industry in Malaysia has grown steadily since 2010. Malaysia set up a special organisation in 2009 to promote and develop the medical industry. Thailand, however, is gaining a much bigger market share, with more than 2 million medical tourists since 2012. Singapore is also enjoying the growth of this niche segment.

Thailand has seen more than 2 million foreign patients come for medical treatment at 37 hospitals since 2012. This is much higher than Singapore's 850,000, Malaysia's 700,000 and the Philippines' 81,000. Treatment in Thailand costs half the rate in Singapore, but is more expensive than in Malaysia, the Philippines and India.

Bangkok Hospital Group, Thailand's largest private hospital operator, continues to spread its wings through the region with the target of 50 hospitals, up from the existing 42. The group is also shifting to the non-hospital segment to cater to the wider market from the AEC.

Bumrungrad International, another top-brand medical institution, is moving into Myanmar by establishing a clinic and diagnostic centre in Yangon. The clinic is expected to be launched by midyear.

Samitivej Hospital Group plans to expand throughout the region and other markets. It is expanding strategic alliances in ASEAN, Japan and the Middle East. It has already expanded to neighbouring countries and large cities in Asia, the ASEAN region and China, including Beijing and Shanghai.

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 Elsevier APAC Healthcare Update