Growth Niche Growth Area Medical Tourism Industries
It is said that in 2007 the travel industry had general overall revenue growth of 7 %. Whether than can be sustained with current economic conditions and the financial meltdowns is a question yet to be answered? On the one hand travel costs, out of pocket funds are reduced as well as the cost of fuel being a great determinant in the rise of air travel as well as general travel and even food costs play major determinant factors. Yet on the other hand tourists who may have traveled further field may stay closer to home.
Another area of growth is in the medical tourism area. While some areas of internet related medical care – such as the sale of pharmaceuticals into the us from Canada has been reduced due to currency fluctuations of the us dollar have seen their growth and even business severely reduced if not hampered – medical tourism in the form of medical care away from the home country continues its unabated growth.
Some additional areas of growth within the medical tourism industries are for care of the elderly. This concept is being tried with European patients – elderly patients mainly in Turkey.
Elderly patients often consume a disproportionate share of medical and pharmaceutical budgets of any health care provider. It seems that with the elderly chronic care of a number of illnesses becomes a concurrent factor and issue. It is often said that in general medical care as a medical tourist consumer are 1/3 of costs in the home industrial country when all factors and costs are summed up. On top of that there are often delays and quest in tests and test results. If the number of tests and procedures can be done in one extended session both costs and costs due to delay and progression of disease states can be afforded. On top of that more speedy treatment may mean less major, less aggressive and costly as well as less heroic procedures need to be done overall.
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