“We expect Asean’s medical tourism industry revenue to grow at a CAGR of about 18% over 2023-2032, lifting its market share of the global medical tourism industry to about 40%, according to Global Markets Insights (GMI),” say the analysts.
CGS International has an “overweight” rating on the hospital sector in Asean, as analysts Tay Wee Kuang, Kasen Prunratanamala and Jason Chandra believe the resilient demand of healthcare services, with medical tourism growth as a catalyst in the near term.
As demand for healthcare continues to grow as a result of ageing population and higher prevalence of chronic and emerging diseases, they expect patients to continue seeking affordable and quality healthcare across Asean.
