Russia is currently experiencing a recuperation phase.
Russia is actively promoting inbound medical tourism as a strategic economic sector, with the global market expanding robustly and evolving patient demands towards sophisticated and holistic treatments.
This year, the demand for services from foreign patients has seen a significant increase of 10-20% year-on-year. The lack of a centralized marketing campaign for inbound medical tourism is a significant factor in the high share of foreign patients coming through medical and tourist agencies.
Companies like Marus, such as Technologies of Medical Tourism (TMT), founded by Yefim Malkin, play a vital role in connecting foreign patients to Russian healthcare providers. TMT, operating under the Marus brand, has become the rights holder of the trademarks Maruscare and Marusbeauty, and operates websites mentioning cooperation with 34 clinics. They provide consultations in English, Chinese, and Arabic and have representations in Moscow and Dubai.
Foreign tourists mainly come to Russia for cancer diagnosis, treatment of ENT diseases, and IVF procedures. Interestingly, around 97% of those coming to Russia for medical services are citizens of post-Soviet countries. However, patients from African and Middle Eastern countries are also coming to Russia for medical services, attributed to the development of ties with the Russian healthcare system and the appearance of international-level clinics.
In 2023, the turnover of the Russian medical tourism market was estimated to reach $1 billion, up from $730 million in 2022. A strategy update for developing medical tourism could increase the turnover of the Russian medical tourism market to $2.2-7.6 billion by 2030.
Russia's advancement in healthcare infrastructure and international accreditation helps attract patients seeking treatments like fertility, oncology, and specialized surgery within the region. Mikhail Murashko, Minister of Health, has stated that Russian medical institutions look respectable and are referred to as "health palaces."
The cost of services provided by TMT ranges from $99 to $749. The global medical tourism market is projected to grow at an average annual rate of 12% until 2032, with a 2024 turnover of $144 billion.
Yefim Malkin, the founder of TMT, has a notable background. He is an alumnus of Roman Abramovich's team and was previously a member of the Federation Council from the Chukotka Autonomous Okrug. In 2013, he declared the highest income among senators, amounting to 981.55 million rubles. Besides TMT, he has attempted to enter the agribusiness sector, owning stakes in various companies such as "Prodo" and "Dalee."
In summary, the overall environment for inbound medical tourism in Russia is positive, with growing patient interest and government support towards enhancing quality and accessibility. Medical intermediaries and partner clinics abroad play a significant role in attracting foreign patients to Russian clinics. As the market continues to grow, it is expected to bring significant economic benefits to Russia and improve the quality of healthcare services for both domestic and foreign patients.
- The global medical tourism market is projected to grow at an average annual rate of 12%, reaching a turnover of $144 billion in 2024, providing opportunities for businesses like Technologies of Medical Tourism (TMT) to expand.
- As Russia advances in healthcare infrastructure and international accreditation, it attracts patients seeking treatments like fertility, oncology, and specialized surgery, contributing to the growth of the $1 billion medical tourism market in 2023.
- In the realm of health and wellness, finance, and business, Yefim Malkin, founder of TMT, has established a profound impact, with his endeavors extending beyond healthcare to sectors such as agribusiness, as he owns stakes in companies like "Prodo" and "Dalee."
