Himachal Dental

Dental Tourism Market

Dental tourism is a broadly defined industry which is influenced by a multitude of factors.
On a macroeconomic scale, medical tourism is affected by many factors including demographics, technologicalchange, globalization, geopolitical trends, and economic trends.

On a microeconomic scale, this niche industry is affected by a multitude of supply and demand factors
including consumer demand, cost factors, and local, regional, or national factors including economic policy,political environment, regulations, infrastructure, capital investment, and destination marketing.Recent changes in the global economy have significantly impacted the market. By understanding the factorswhich affect the dental tourism industry, we have gained insight into which segment(s) of the dental tourism market we are capable of serving, which type of consumers make up that segment, and what structural changes will need to be made in order to better attract and serve those consumers.

Market Needs
Medical tourism is a rapidly growing industry. Long NHS waiting lists and expensive private care have meantthat 2.65 million Britons have recently been or are planning to go abroad for medical procedures. TakingAdvantage of Trend Shifts in the Dental Tourism Industry

Despite headwinds, industry experts expect the growth of dental tourism to continue at a rate of at least 35% annually (Deloitte, 2009). With future trends showing an increased demand for healthcare worldwide, as well as an increasing trend toward the globalization of healthcare, there is significant revenue opportunity for firms catering to this market, as well as for cities, states, and countries which foster the growth of the industry within their borders. The healthcare and tourism industries, as well as the regions in which they operate, will need to adjust to and account for changing trends in the market for dental tourism. Of particular importance will be the shifts which are taking place due to respective differences across borders use to economic and geopolitical events.

The economic changes taking place within developed and underdeveloped nations will have a profound impact on the market for cross-border healthcare, as well as for regional or local care. Such changes will most likely have a large impact on the choices made by governments, institutions, and individuals, and will impact the demand for and supply of healthcare on a global scale. In addition, these changes in the market will be marked by a change in attitudes toward international and domestic dental travel, as it gains increased media attention and becomes more widely used.

ImageThe hospitality and tourism markets will be affected not just by trends in supply and demand, but by the economic and geopolitical parameters set by governments worldwide. In order to enter the market, an understanding of the impact that international trade agreements and government participation will have on the market globally, and on specific regions, will be essential. These factors should be kept in mind when considering the potential success of a dental tourism destination.

In a recession, markets may consolidate, eliminating weaker businesses and providing market opportunities through mergers and acquisitions. In addition, slower economic times may lead businesses to develop partnerships and strategic alliances, and to innovate to reduce costs and capture market share. With healthcare reform being debated in the U.K., combined with sovereign debt and strains on social security and retirement funds, this is the time when policymakers and industry leaders will be discussing options to lower costs and increase revenues. With the dialogue and debate being brought to the forefront, we might see changes come about which will reduce barriers to the dental tourism market.

%d bloggers like this: