A new report released by the Deloitte Centre for Health Solutions has revealed that the growth rate for medical tourism has dropped by almost 14 percent over the past two years as a result of the global economic crisis.

The report, released at the World Medical Tourism and Global Health Congress in Los Angeles showed that between the years of 2007 and 2007, the rate of growth for medical tourism dipped by 13.6 percent, but a recovering economy may assist in spurring a sustainable 35 percent annual growth rate for the medical tourism industry by 2010.

Executive director of Deloitte’s Centre for Health Solutions said that barring any tempering factors, medical tourism could reach upwards of 1.6 million patients by the year 2012.

He has pointed out that the medical tourism industry had transformed from a cottage industry to an acceptable alternative for elective car as quality is better defined and new business models emerge.

The report released by the Deloitte Centre revealed that in 2007, over 750,000 Americans travelled overseas for outbound medical car, however the industry has slowed down due to the economic recession as consumers are putting off elective medical procedures over the past two years with an estimate 540,000 Americans travelling abroad for medical care in 2008.

The report also showed that inbound medical tourism for foreigners visiting the US will see slow growth over the next nine years, with an expected 561,000 travellers by 2017.