The global medical tourism industry is set to be worth almost $38.5 billion by 2020. In 2012, the UK's Health Protection Agency estimated that 55,000 people went abroad to seek medical treatment. Of them, almost 70 per cent visited nations like Pakistan, India, Poland and Hungary.
Pakistan is expected to emerge as a strong contender for a new and lucrative medical tourism industry.
Low operation costs, high availability of educated physicians and developing medical industries have been cited as some of the most significant factors in this untapped market. However, Pakistan needs to address many issues before it can reap real benefits.
Of the Pakistani medical tourist demographic, most patients come to Pakistan for fertility and cosmetic operations, whereas a small minority visit for cardiac surgery.
Cost has been the primary driving factor for individuals seeking medical treatment in these nations. For example, an in vitro fertilisation operation in the United States can cost as much as $8,100, whereas in Pakistan the same operation can be done in $2,000, a 75pc decrease.
Additionally, many other basic procedures can be done at a similar cost ratio. The primary reason for this is the increasing foreign exchange rate. Since December 2017, the Pakistani rupee has lost almost 50pc of its value compared to the US dollar. While such devaluations may not be good for the economy on a macro scale, it does lower costs for foreigners seeking to get treatment in Pakistan.
While Pakistan has significant potential in the field of medical tourism, there remain equally significant barriers to the field's success.
A large number of highly trained physicians is paramount in the industry's development. Pakistani physicians are known to receive global admiration. With more than 50 medical schools, Pakistan produces around 30,000 physicians every year, according to the Pakistan Medical and Dental Council. While this is sufficient for a successful medical tourism industry, many physicians leave Pakistan seeking higher pay in other countries.
Pakistan currently has 0.8 physicians per capita compared to the 2.5 per capita in other developing nations, according to the World Health Organisation.
An average physician in a government hospital makes around $6,000 per year compared to an average of $189,000 per year in the United States. Enticing physicians to remain and practise in Pakistan will be the first hurdle needed to be passed in order to successfully lay the foundation of Pakistan's medical tourism industry.
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With a new government in Islamabad and a mounting economic crisis, the road forward towards the medical tourism industry is far from certain. Currently, no legislature in parliament or provincial assemblies has addressed the need
for more expenditure in healthcare. But with the untapped potential driven by low treatment costs, Pakistan's ability to become a global medical tourism hub has never been greater.
Low operation costs, high availability of educated physicians and developing medical industries have been cited as some of the most significant factors in this untapped market. However, Pakistan needs to address many issues before it can reap real benefits.
Of the Pakistani medical tourist demographic, most patients come to Pakistan for fertility and cosmetic operations, whereas a small minority visit for cardiac surgery.
Cost has been the primary driving factor for individuals seeking medical treatment in these nations. For example, an in vitro fertilisation operation in the United States can cost as much as $8,100, whereas in Pakistan the same operation can be done in $2,000, a 75pc decrease.
Additionally, many other basic procedures can be done at a similar cost ratio. The primary reason for this is the increasing foreign exchange rate. Since December 2017, the Pakistani rupee has lost almost 50pc of its value compared to the US dollar. While such devaluations may not be good for the economy on a macro scale, it does lower costs for foreigners seeking to get treatment in Pakistan.
While Pakistan has significant potential in the field of medical tourism, there remain equally significant barriers to the field's success.
A large number of highly trained physicians is paramount in the industry's development. Pakistani physicians are known to receive global admiration. With more than 50 medical schools, Pakistan produces around 30,000 physicians every year, according to the Pakistan Medical and Dental Council. While this is sufficient for a successful medical tourism industry, many physicians leave Pakistan seeking higher pay in other countries.
Pakistan currently has 0.8 physicians per capita compared to the 2.5 per capita in other developing nations, according to the World Health Organisation.
An average physician in a government hospital makes around $6,000 per year compared to an average of $189,000 per year in the United States. Enticing physicians to remain and practise in Pakistan will be the first hurdle needed to be passed in order to successfully lay the foundation of Pakistan's medical tourism industry.
.
With a new government in Islamabad and a mounting economic crisis, the road forward towards the medical tourism industry is far from certain. Currently, no legislature in parliament or provincial assemblies has addressed the need
for more expenditure in healthcare. But with the untapped potential driven by low treatment costs, Pakistan's ability to become a global medical tourism hub has never been greater.
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