Medical tourism entails the journey of patients across borders in search of advanced treatments, encompassing an array of medical services ranging from intricate procedures like cardiac and neurosurgery to elective options such as cosmetic enhancements or routine health checkups. This burgeoning sector is driven by escalating healthcare costs in developed nations, leading patients to seek cost-effective alternatives in countries with robust medical expertise but lower expenses.
Forecasts from Future Market Insights, Inc. predict that the global medical tourism market will surge to approximately USD 75 billion by 2032. Prominent destinations such as Thailand, Malaysia, Turkey, India, the UK, and Germany are leading the way in this industry, actively working to attract international patients. In the face of escalating competition, industry leaders will distinguish themselves based on their ability to effectively draw foreign medical clientele.
In the Republic of Moldova, although still nascent, the concept of medical tourism holds vast untapped potential, currently accounting for a mere 5% of the market, valued at about $30 million in 2022 with a projected CAGR of 20% in the next 5 years up to $50 million by 2030. Moldova offers a well-established medical infrastructure capable of catering to the global market, featuring services of commendable quality at highly competitive rates.
The forthcoming International Healthcare Travel Forum Moldova 2023 aims to harness the capabilities of private clinics and hospitals in Moldova, propelling a revolution in the health tourism sector by aligning with global market trends. Effective management of this sector holds promise for multiple stakeholders: preserving jobs, curbing medical personnel migration, attracting foreign specialists, boosting incomes, earning international recognition, and innovating treatment protocols through digitization.
Prominent private medical institutions in Moldova, celebrated for their exceptional results and proficient experts, will participate in the Forum’s proceedings. The event presents a unique opportunity for Moldova to showcase its medical services to over 15 countries, comprising both potential buyers and promoters of the diverse medical offerings on display.
The International Healthcare Travel Forum Moldova 2023 is a collaborative effort between the Association of Medical Tourism from Moldova, the Global Association of Medical Tourism, and the Ministry of Health. The event is organized with support from the Ministry of Culture, ANTRIM, private clinics, and hospitals from Moldova, this initiative receives strategic and financial support from USAID funded projects : RCRA, FTA, and Winsef.
The IHTF is an annual event organized by the Global Healthcare Travel Council (GHTC) – a professional organization of National Councils in the Healthcare Travel industry. GHTC works to raise awareness of Healthcare Travel as one of the world’s largest industries, supporting 100 million jobs and generating 12 percent of the world’s GDP.