The Republic of Korea is positioning for a share of the estimated $1 billion, which 30,000 Nigerians spend per annum on medical tourism outside the country.
He said Nigeria has become a major source market for medical tourism because of the lack of robust national health insurance framework and the import substitution gap, arising from the ability of Nigeria’s indigenous pharmaceutical companies and medical centres to only meet about 45 per cent of the demand for drugs and medical equipment.
“Also, I noticed that when Nigerian experts come back from Korea, they seemed fascinated about Korea’s cosmetics and medical tourism,” Lee said. About 80,000 people die from the disease, averaging 240 Nigerians every day or 10 Nigerians every hour. The Nigerian cancer death ratio of four in five is considered one of the worst in the world.