Ctrip announced co-founder and executive chairman James Liang Cheng future be more focused on expanding overseas, on the occasion of strategic investment and innovation projects and other matters, Ctrip announced a strategic investment in special medical wisdom November 19, to enter the medical tourism market. This move not only means that Ctrip is beginning to lay out the medical tourism industry chain, but also another action of Ctrip to further expand overseas markets.
The strategic investment cooperation between Ctrip and Zhite Medical is closely related to the current two-child policy and the test-tube baby boom. Zhang Xin, founder of Zhite Medical, said that more and more families are considering giving birth to a second child, but many older women miss the best reproductive age and favor the assisted reproductive technology such as IVF.
According to the “2010 China Overseas Medical Tourism Market Special Research Report†by Analysys think tank, the United States is the preferred destination for overseas test tube babies. Zhite Medical has begun to deploy the American IVF service and cooperate with seven reproductive centers in the United States. According to the data, Zhite Medical has assisted nearly 1,000 families to complete IVF in the United States in the past six years. Through cooperation with Zhite Medical, Ctrip began to deploy upstream to the industrial chain in medical tourism and strengthen its ability to control resources.
In addition to IVF medical tourism products, other types of medical tourism are gradually becoming hot, and medical examinations abroad are also a kind of medical tourism. At present, the situation in the entire medical tourism market is relatively optimistic. According to a report released by VISA and the Oxford Economic Research Institute in July this year, the value of the medical tourism industry has reached 439 billion US dollars, and it is expected that the growth rate will reach 25% in the next decade. For the demand for higher quality care, China will catch up with the United States. At the same time, the US Stanford Research Institute survey data also shows that the global medical tourism revenue in 2017 is expected to reach $ 678.5 billion.
In addition, Ban Anlan, Director of the Beijing Office of the National Tourism Administration of Thailand, also promoted Thailand's medical tourism resources through the media. In fact, in order to facilitate medical tourists to Thailand, the Thai government has approved an extension of the medical tourism visitors' stay period from the original 60-day stay period to 90 days.
Under such a large market potential, various tourism companies are deploying this market. Among them, Ctrip launched the Medical Tourism Channel in September 2015 to provide consumers with related products such as medical examinations and health treatments. Due to the large market potential and increasing demand, Ctrip's bookings of medical tourism products in the first half of 2016 increased by more than five times year-on-year.
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