Southeast Asia offers life science companies significant opportunities in the medical tourism sector

Life sciences companies in the public and private sectors could reap financial benefits from the growing medical tourism sector in Southeast Asia, according to a report by healthcare consultancy IQVIA.

The region has already established itself as a popular medical-tourism destination for patients seeking affordable and high-quality healthcare, and its growth trajectory offers a promising market for healthcare businesses. One reason is that several regional governments have identified medical tourism as a national development priority.

"We strongly recommend that companies thoroughly investigate the market opportunities and regulatory requirements for launching new, innovative medical products in medical tourism destinations such as Thailand, Singapore, Malaysia, the Philippines, and the up-and-coming destination Indonesia," noted the report.

The demand is particularly high for cell and gene therapies as well as precision oncology treatments. Therapeutic products in fields popular among international patients are also promising, such as cardiology orthopaedics, and cosmetic surgery.

Health authorities from several countries are developing regulations that should provide a clear path to bring new medical products to market. Streamlined procedures in specific areas promise easier access for medical therapies, such as in the Sanur Special Economic Zone (SEZ) in Bali.

The Sanur SEZ could potentially allow companies to import unapproved therapeutic products and medical devices into the area for early patients access, subect to permission from BPOM, the national food and drug supervisory agency of Indonesia, said the report.


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