Medical Tourism
Tanaka Business School Imperial College London
An Insight into Malaysia’s Medical Tourism Industry from a New Entrant Perspective by Mr. Bhavin J. Shah
A report submitted in partial fulfillment of the requirements for the MBA degree and Diploma of Imperial College London
September 2008
SYNOPSIS
The overarching objective of this project is to provide an insight into Malaysia’s medical tourism industry. The study conducted offers assistance to a new upcoming hospital in Malaysia to understand the overall scenario of the market it wishes to enter in the near future. An external view using Porter’s Five Forces, an internal resource-based view and an industry snapshot using value network approach are evaluated to identify the pros and cons about the industry.
In the beginning, a brief about medical tourism is written along with the background to research, and project aims and objectives.
Next, a critical literature review is performed to explore previous research and to analyze merits and limitations of the theoretical frameworks. Interviews with managers and medical practitioners were arranged to gather primary data. Secondary data was also obtained from pertinent sources. The theoretical frameworks that form the academic basis for this study are used to analyze the data. The analyses are discussed along with other facts that were not captured by the framework or approach.
The analysis confirms that Malaysia’s medical tourism industry is attractive to enter and realize profits. There are a few strong players in the market, although, the overall market is still in the emerging phase. However, certain facts about the government, staffing, certifications, and lack of resources explain that the role players in the industry may need to work together to build up the industry.
Finally, a few recommendations have been noted to help the hospital make the right decisions.
I
ACKNOWLEDGMENTS
This dissertation was made possible due to the
An Insight into Malaysia’s Medical Tourism Industry from a New Entrant Perspective by Mr. Bhavin J. Shah
A report submitted in partial fulfillment of the requirements for the MBA degree and Diploma of Imperial College London
September 2008
SYNOPSIS
The overarching objective of this project is to provide an insight into Malaysia’s medical tourism industry. The study conducted offers assistance to a new upcoming hospital in Malaysia to understand the overall scenario of the market it wishes to enter in the near future. An external view using Porter’s Five Forces, an internal resource-based view and an industry snapshot using value network approach are evaluated to identify the pros and cons about the industry.
In the beginning, a brief about medical tourism is written along with the background to research, and project aims and objectives.
Next, a critical literature review is performed to explore previous research and to analyze merits and limitations of the theoretical frameworks. Interviews with managers and medical practitioners were arranged to gather primary data. Secondary data was also obtained from pertinent sources. The theoretical frameworks that form the academic basis for this study are used to analyze the data. The analyses are discussed along with other facts that were not captured by the framework or approach.
The analysis confirms that Malaysia’s medical tourism industry is attractive to enter and realize profits. There are a few strong players in the market, although, the overall market is still in the emerging phase. However, certain facts about the government, staffing, certifications, and lack of resources explain that the role players in the industry may need to work together to build up the industry.
Finally, a few recommendations have been noted to help the hospital make the right decisions.
I
ACKNOWLEDGMENTS
This dissertation was made possible due to the
References: Company History: Milestones 21st Jan, 2003 Bio Science Capital Incorporation 7th Dec 2005, Ground Breaking April 2008, Handover of building 21st Oct 2005, Site possession APPENDIX B: Top Countries (Malaysia Tourist Arrivals 2002 – 2007) (Source: Tourism Malaysia Corporate Website, http://www.tourism.gov.my/corporate/research.asp?page=facts_figures)