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South Korea Medical Tourism Industry Outlook to 2015
 

South Korea Medical Tourism Industry Outlook to 2015

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    South Korea Medical Tourism Industry Outlook to 2015 South Korea Medical Tourism Industry Outlook to 2015 Document Transcript

    • TABLE OF CONTENTS1. Medical Tourism in South Korea – An OverviewMedical Tourism Value Chain in South Korea2. Total Foreign Patients Treated and Foreign Patients Revenue in South Korea, 2005-20103. Medical Tourism Treatment Cost Comparison, 20104. Foreign Patients by Nationality, 20105. Foreign Patients by Destination in Korea, 20106. Foreign Patients Selection for Type of Hospitals, 20107. Type of Foreign Patients by Inpatients, Outpatients and Medical Checkup Patients, 20108. Competitive Landscape of Major Hospitals (Yonsei Severance, Samsung Medical,CheongShim International, Asan Medical and Seoul National), 20109. Major Drivers and Growth Barriers Major Drivers Growth Barriers10. South Korea Medical Tourism Future Outlook and Projections 10.1. Expected Foreign Patients and Foreign Patients Revenue, 2011-201511. Medical Tourism Industry Factors: Historical and Projections 11.1. Total Foreign Tourist Arrivals and Tourism Receipts in South Korea, 2005-2015 11.2. Number of Hospitals, Clinics and Medical Centres and Hospital Beds, 2005-2015 11.3. Healthcare Expenditure in South Korea, 2005-201512. Appendix 12.1. Market Definition 12.2. Abbreviations 12.3. Research Methodology Data Collection Methods Approach Disclaimer 2 © This is a licensed product of AM Mindpower Solutions and should not be copied
    • LIST OF FIGURESFigure 1: Number of Total Foreign Patients in Thousands and Foreign Patients Revenue inSouth Korea in USD Million, 2005-2010Figure 2: Foreign Patients by Nationality in Percentage, 2010Figure 3: Foreign Patients by Destinations (Seoul, Gyeonggi-do, Daegu, Busan, and Incheon)in Korea in Percentage, 2010Figure 4: Foreign Patients Selection for Type of Hospitals in Percentage, 2010Figure 5: Type of Foreign Patients by Inpatients, Outpatients and Medical Checkup Patientsin Percentage, 2010Figure 6: Expected Foreign Patients in Thousands and Foreign Patients Revenue in SouthKorea in USD Million, 2011-2015Figure 7: Total Foreign Tourist Arrivals in Million and Tourism Receipts in South Korea inUSD Billion, 2005-2015Figure 8: Number of Hospitals, Clinics and Medical Centres and Hospital Beds in SouthKorea, 2005-2015Figure 9: Healthcare Expenditure in South Korea, in USD Billion, 2005-2015 3 © This is a licensed product of AM Mindpower Solutions and should not be copied
    • LIST OF TABLESTable 1: Medical Treatment Cost Comparison among the US, India, Thailand, Singapore,Malaysia, Mexico and the UK, in USD, 2010Table 2: Foreign Patients by Destinations (Seoul, Gyeonggi-do, Daegu, Busan, and Incheon)in Korea, 2010Table 3: Foreign Patients Selection for Type of Hospitals, 2010Table 4: Market Segmentation by Inpatients, Outpatients and Medical Checkup ForeignPatients, 2010Table 5: Competitive Landscape of Major Hospital Chains/Group in Singapore (YonseiSeverance, Samsung Medical, CheongShim International, Asan Medical and Seoul NationalUniversity Hospital), 2010Table 6: Total Foreign Tourist Arrivals in Million and Tourism Receipts in South Korea inUSD Million, 2005-2015Table 7: Number of Hospitals, Clinics and Medical Centres and Hospital Beds in SouthKorea, 2005-2015Table 8: Total Hospitals, Clinics and Medical Centres by Medical, Dental, Oriental Medicine,Dispensaries, Midwifery Clinics and Specialized Hospitals in South Korea, 2005-2010 4 © This is a licensed product of AM Mindpower Solutions and should not be copied
    • MEDICAL TOURISM IN SOUTH KOREATOTAL FOREIGN PATIENTS TREATED AND FOREIGNPATIENTS REVENUE IN SOUTH KOREA, 2005-2010The number of foreign patients visiting Korea has increased from ~ in 2009 to ~ in 2010, indicating an increase of ~%. The revenue from Nearly ~% of the patients visited Korea for foreign patients has increased nearly two fold to skin care treatment and cosmetic surgery, USD ~ million in 2010 from USD ~ million in ~% of the foreign patients came for internal medical treatment and ~% visited 2009.medical centers for checkups and close to The foreign patients have increased over the~% for family medicine years primarily because of the promotionalcampaigns being adopted by the government. The influx of foreign patients has increasedfrom ~ in 2006 to ~ in 2007 and ~ in 2008…Figure: Number of Total Foreign Patients in Thousands and Foreign Patients Revenuein South Korea in USD Million, 2005-201090,000.0 100.080,000.0 90.070,000.0 80.0 70.060,000.0 (USD Million) 60.050,000.0 50.040,000.0 40.030,000.0 30.020,000.0 20.010,000.0 10.0 0.0 0.0 2005 2006 2007 2008 2009 2010 Foreign Patients Foreign Patients Receipts (USD Million) 5 © This is a licensed product of AM Mindpower Solutions and should not be copied
    • MEDICAL TOURISM TREATMENT COST COMPARISON, 2010There is huge difference in the cost of the treatment being offered in the US and in Asiancountries. For instance, Angioplasty treatment will cost USD ~ in the US while it will costUSD ~ in India and Malaysia, USD ~ in Thailand and USD ~ in Singapore. This hugedifference in the cost is largely due to the lower labour cost in the countries in Asia region.Even in case of medical diagnostic tests such as MRI scan, there exists a huge gap betweenthe cost charged in the US and in India.Table: Medical Treatment Cost Comparison among the US, India, Thailand, Singapore,Malaysia, Mexico and the UK, in USD, 2010 SouthProcedure1,2 The US India Thailand Singapore Malaysia Mexico KoreaHeart bypass(CABG)Heart ValvereplacementAngioplastyHip replacementKnee replacementGastric bypassHip resurfacingSpinal fusionMastectomyRhinoplastyTummy TuckBreast reductionBreast implantsCrownTooth whitening 6 © This is a licensed product of AM Mindpower Solutions and should not be copied
    • Dental implantsNotes:1. Costs of surgeries around the world. Costs given in USD2. The price comparisons for surgery take into account hospital and doctor charges, but do not include the costs of flightsand hotel bills for the expected length of stay.FOREIGN PATIENTS BY DESTINATION IN KOREA, 2010….Although in 2009, Incheon was one of the leading regions in the country, Daegu hasshowcased phenomenal growth in number of medical tourist arrivals in 2010. The medical tourists increased by ~% in 2010 from ~ in Out of the total foreign patients visited in 2009. In 2009, Daegu represented ~% of the South Korea, Seoul with ~ received the maximum number of foreign patients medical tourist’s visits in South Korea which followed by Gyeonggi with ~ patients and increased to ~% in 2010. Daegu with ~ Some of the prominent medical centers andinstitutions in the country are Keimyung University Dongsan Medical Center and HyosungHospital. Dongsan medical center in South Korea is one of the leading medical centers in thecountry and is expected to a play a very crucial role in determining the growth of Daegu asthe country’s leading medical region….Figure: Foreign Patients by Destinations (Seoul, Gyeonggi-do, Daegu, Busan, andIncheon) in Korea in Percentage, 2010 Seoul Gyeonggi-do Daegu Busan Incheon Others 7 © This is a licensed product of AM Mindpower Solutions and should not be copied
    • Table: Foreign Patients by Destinations (Seoul, Gyeonggi-do, Daegu, Busan, andIncheon) in Korea, 2010Destination/Province Foreign Patients, 2010SeoulGyeonggi-doDaeguBusanIncheonOthersCOMPETITIVE LANDSCAPE OF MAJOR HOSPITALS (YONSEISEVERANCE, SAMSUNG MEDICAL, CHEONGSHIMINTERNATIONAL, ASAN MEDICAL AND SEOUL NATIONAL),2010Table: Competitive Landscape of Major Hospital Chains/Group in Singapore (YonseiSeverance, Samsung Medical, CheongShim International, Asan Medical and SeoulNational University Hospital), 2010 Key Medical Financial/ International Treatments and Operational Patients Major Players Group Overview Hospital Brands Performance Reach     Yonsei University Health System (YUHS)     Samsung Medical Center (SMC) 8 © This is a licensed product of AM Mindpower Solutions and should not be copied
    •     CheongShim International Medical Center (CSMC)     ASAN Medical Center (AMC)     Seoul National University Hospital (SNUH)Source: Company Reports, AM Mindpower SolutionsNote:1) FY’2010 ending December 2010SOUTH KOREA MEDICAL TOURISM FUTURE OUTLOOK ANDPROJECTIONSEXPECTED FOREIGN PATIENTS AND FOREIGN PATIENTSREVENUE, 2011-2015South Korea is expected to register high growth in the number of foreign patients treated andrevenues generated from them in the next 5 years. The total number of foreign patients isestimated to cross the mark of ~ thousand in 2011 with an expected ~ foreign patients beingtreated in the country. The foreign patients are projected to get double in the next 5 years toreach ~ by 2015. On the other side, the revenue from international patients is expected totreble itself to USD ~ million by 2015 from USD ~ million in 2010. The foreign exchangeearnings from foreign patients will cross the benchmark of USD ~ million by 2013. 9 © This is a licensed product of AM Mindpower Solutions and should not be copied
    • Figure: Expected Foreign Patients in Thousands and Foreign Patients Revenue in SouthKorea in USD Million, 2011-2015 300.0 400.0 250.0 350.0 300.0 200.0 250.0 (USD Million)(Thousands) 150.0 200.0 100.0 150.0 100.0 50.0 50.0 0.0 0.0 2011 2012 2013 2014 2015 Foreign Patients (Thousand) Foreign Patients Receipts (USD Million)DISCLAIMERNo part of this manual or any material appearing may be reproduced, stored in ortransmitted on any other Web site without written permission of AM Mindpower Solutionsand any payments of a specified fee. Requests to republish any material may be sent to us. 10 © This is a licensed product of AM Mindpower Solutions and should not be copied