(MoneyNewsWire.Net, November 13, 2017 ) According to the report Medical Tourism Market, published by Market Data Forecast, the Global market is projected to reach USD 46.6 billion by 2021, at a CAGR of 18.8% from 2016 to 2021.
Medical tourism is the most dynamically growing sectors today. It is believed to be the direct impact of globalisation of healthcare, it certainly exhibits robust growth potential globally. Though, based on FMIs research, the market of medical tourism is anticipated to concentrate within most of the developing countries of the world. The top treatments people travel abroad for, include cardiovascular surgeries, orthopaedic treatments, cancer therapy, dentistry, cosmetic surgeries, weight loss therapies, health screenings, reproductive treatments, and medical tests and scans. In critical cases, a sizeable patient population also solicits second opinion from specialist doctors abroad.
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Medical Tourism Market: Drivers & Restraints
The global medical tourism market is primarily driven by accessibility and affordability of good quality healthcare services coupled with assistance from tourism departments and local governments. Additionally, availability of latest medical technologies in medical tourism hubs, worldwide, is anticipated to propel the market growth.
But still, medical tourists are highly vulnerable to a wide variety of health risks after they return. The conditions may include TB, deep vein thrombosis, paratyphoid, amoebic dysentery, and more commonly caused owing to poor post-operative care and inadequate rest. This could affect the market to some degree. Strict documentation processes, issues regarding visa approval, and limited insurance coverage are reportedly few of the most deterring factors for the global market.
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Medical Tourism Market: Segmentation
By Treatment Type
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Medical Tourism Market: Overview
Cosmetic treatments leads in terms of market share as cosmetic surgeries are not covered by insurance.
Medical Tourism Market: Region-wise Outlook
By geography, the global market is segregated into North America, Middle East and Africa, Latin America, Europe and Asia Pacific. Few of the prominent medical tourism centres worldwide include Thailand, Costa Rica, Israel, India, South Korea, Taiwan, Brazil, Turkey, the Philippines, Dubai, Singapore, Malaysia, Mexico, Poland, Canada, and the U.S. India is renowned for specialist cardiac surgeries, while Singapore is a popular medical tourism destination because of the expertise in intricate surgical procedures. Thailand is becoming a popular destination for medical tourism and millions of patients have travelled to Thailand since 2006. It is also the leader in cosmetic surgery worldwide. Malaysia provides state-of-the-art medical infrastructure and treatments by highly skilled medical professionals. With financially viable treatment options and savoury government initiatives, Malaysia is expected to acquire one of the top market positions in the global medical tourism market, during the aforementioned forecast period.
Key Questions Answered
What is the current and future Medical Tourism Market outlook in Global? What trends are affecting the Global market?
What is the competitive landscape and market share of major players in the Medical Tourism space in Global?
What are the key, high growth markets that Medical Tourism manufacturers should expand into? Which market segments are growing the fastest?
What are the unmet needs with the Medical Tourism currently on the market? How will emerging technologies fulfil these unmet needs?
What is physician perception and market outlook of Medical Tourism?
What are the challenges and barriers that have hindered widespread adoption of Medical Tourism?
Medical Tourism Market: Key Players
Leading healthcare players contributing to the global medical tourism market include Min-Sheng General Hospital, Apollo Hospitals Enterprise Limited, Samitivej Sukhumvit, Fortis Healthcare Ltd., Asian Heart Institute, Prince Court Medical Center, Bangkok Hospital Medical Center, KPJ Healthcare Berhad, Raffles Medical Group, and Bumrungrad International Hospital.
Reasons to buy Medical Tourism Market Report:
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porters Five Forces Analyses
A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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