WHY IS MEDICAL TOURISM SO POPULAR?

By 2026 the size of the Latin American medical tourism market is estimated to be worth 17.26 billion from 7.26 billion in 2021.

The cost of medical care in the United States is often significantly higher than in other countries, which has spurred the growth of medical tourism by Americans. … On the other hand, there may be excellent clinics and physicians performing affordable work in some Latin American countries. After the COVID-19 Pandemic, increasing incidences of chronic and infectious diseases are a key factor driving the demand of the Latin American Medical tourism market. Medical Tourism has great support from government authorities through investments in local enterprises. This is strongly influencing the demand of the market toward the growth side in Latin America.

Latin American nations are racing fast to occupy a major chunk of the medical tourism market share. The Centers for Disease Control and Prevention (CDC) states that an estimated 2.1 million US citizens are likely to opt for medical tourism in 2022 spending nearly USD 12 billion and 50% of those treatments are to be sought in Latin American countries. The huge cost savings of almost 40-70% in almost all major medical procedures down in the south fascinated the North Americans who are crowding these countries with a dual objective of vacationing and treatment. The destinations are scenic and healthcare support is super-class. The devaluation of Latin American currencies has further sweetened the deal for medical tourists.

In 2019 Colombia ranked the #1 destination for medical procedures due to the high level of treatments and clinics. Between 2012 and 2021 Medical tourism in the South American country increased by over 60%. For decades, the country has been the favorite destination for cosmetic surgery and according to the Global Health Intelligence report, an estimated 400,000 surgical operations are carried out every year.

In the same year, The Journal of the American Society of Plastic Surgeons conducted a study of private cosmetic surgery clinics located in the city of Cartagena.  A total of 658 international patients underwent cosmetic surgery procedures by the primary authors between February 2013 and April 2018. Five hundred forty-eight patients (83.3%) were female and 110 (16.7%) were male. Patients ranged in age from 16 to 72 years old, with 90% of patients falling between 20 and 54 years old. Patients traveled to Colombia from 34 different countries spread across 6 continents.

In this study made for just one mid-size city as an example of the growing industry, The United States was the principal source of patients (66%), with large numbers also coming from Canada (12%), the Caribbean islands (11%), and Europe (6%). Patients from the United States represented 38 states and the District of Columbia, with the largest numbers traveling from Florida, New York, New Jersey, Texas, and California. Canadian patients came from 7 provinces, with the largest numbers traveling from Ontario, Alberta, British Columbia, and Montreal. A wide spectrum of occupations was represented by patients in the study, led by professionals (25%), managers (21%), technicians and associate professionals (14%), and service and sales workers (14%)

The medical tourism industry is also growing rapidly, attracting millions of patients who seek value and excellence in healthcare services.⁸ It is an integrated and collaborative approach by the healthcare and tourism industries, providing patients with a unique experience combining treatment, service, and recreation. Factors that have led to the increasing popularity of medical travel include the high cost and lack of access to healthcare in home countries, ability to research providers worldwide, ease and affordability of international travel, and improvements in both technology and standards of care in many countries.⁹ Medical tourism represents a new segment in travel and healthcare, offering substantial savings and representing another mechanism of “value” for healthcare purchasers. A 2008 survey of healthcare consumers found that nearly 40% of Americans would consider having an elective procedure performed in a foreign country if they could save 50% or more and be assured that the quality was equal to or better than what they can have in the United States. Aggressive continued growth is expected as demand increases and advances continue to improve the end product for patients.

Colombia possesses an established and highly preferred medical tourism industry reflected in a growth of more than 100% in only five years.

Colombian plastic surgeons and doctors are also ranked #1 globally in terms of medical tourism patients, with the average plastic surgeon performing 44 surgical procedures per year on foreign patients. Aside from the skills of the surgeons themselves, Colombia possesses an established tourism industry, strong intellectual capital, and modern hospitals. The development of the health and wellness industry is a natural extension of that current infrastructure and the Colombian government has invested billions of dollars into improving the country’s medical infrastructure to provide a safe and tourist-friendly environment for health travelers. The industry is government-led and private sector-driven and aims to provide the tourist to Colombia with physical invigoration, mental rejuvenation, cultural enrichment, and spiritual elevation. Costs are often 30%–40% less than in the United States and the proximity of Colombia coupled with an abundance of convenient flights makes travel easier than ever. The growth of international patients at the authors’ practice has risen steadily over the past 5 years, providing insight into the potential for continued growth in this sector as a whole. ​

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