Medical Tourism Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024
Medical Tourism Market: Overview
People around the world are now adopting the treatment method to travel abroad and get the medical treatment for their health issue. One of the prime reasons responsible for this medical based migration is either low-quality infrastructure and services or high expenditure of the treatment. Growing awareness among the populace regarding the advanced medical facilities has uplifted the market growth.
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Medical Tourism Market: Segmentation
Medical services and treatment are one of the crucial facility provided by the leading service providers, however, with diverse types of body-based deficiency and disorders, the treatment methods are bifurcated according to the affected body part. Similarly, medical tourism market, based on various treatment methodologies, it is segmented as a cancer treatment, orthopedic treatment, fertility treatment, cardiovascular treatment, neurological treatment, cosmetology, oncology, neurology, dentistry, and many others. Further, the global tourism market is broadly diversified based on the region this include North America, Europe, Asia-Pacific, the Middle East and Africa.
Medical Tourism Market: Growth Factors
The global medical tourism market is anticipated to witness a growth in the coming period owing to people readily spending over the medical issues, availability of the mediclaim along with cashless facility, and government rolling out various health beneficial schemes both preventive and post hospitalization. Accessibility and affordability are two major factors that drive the global medical tourism market. With this advancement in medical technologies and equipment, and availability of well qualified and skilled experts in the medical field also boosts the growth of the market. Insurance companies rolling various customized schemes in which the customer can cover insurance portability option spurs the growth of the global market. The complication in the visa process, language-based barriers, travel, and intricacy of documentation are some of the restraining points impacting the growth of the global medical tourism market. Economic development is expected to motivate the global market as certain governments are keenly focusing on enhancing their fund limits over medical investment.
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Medical Tourism Market: Regional Analysis
Geographically, the Asia Pacific with emerging lucrative opportunities for the market is attracting patients to visit various nations for medical tourism. Europe is also growing rapidly owing to rising number of travel patient. Asia Pacific regions such as India and Thailand are most preferred locations serving in the global medical tourism market. Growing healthcare-based investment from private and public sector companies in the majority of the regions is the driving factor of the medical tourism market.
Medical Tourism Market: Competitive Players
The global medical tourism market is served by various top class hospitals and healthcare centers. This includes various leading names such as Fortis Healthcare, Bumrungrad Hospital Public Co. Ltd, Asian Heart Institute, Bangkok Dusit Medical Services, Apollo Hospitals Enterprise Limited, Prince Court General Hospital, Samitivej Sukhumvit, Spire Healthcare, KPJ Healthcare Berhad, Medanta, Min-Sheng General Hospital, Raffles Medical Group, IHH Healthcare Berhad, and many other prominent players.
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Medical Tourism Market: Regional Segment Analysis
- North America
- The U.S.
- The UK
- The Asia Pacific
- Latin America
- The Middle East and Africa
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