Home / Asia / Market Survey: Medical Tourism Market 2018 is Anticipated to Reach US$ 8.5% Billion by 2023
Market Survey: Medical Tourism Market 2018 is Anticipated to Reach US$ 8.5% Billion by 2023

Market Survey: Medical Tourism Market 2018 is Anticipated to Reach US$ 8.5% Billion by 2023

Report Title: “Global Medical Tourism Market – Segmented by Treatment Type and Geography – Growth, Trends, and Forecast (2018 – 2023)”

Global “Medical Tourism Market” (2018 – 2023) Report Provides Overall study of Approximate CAGR, Leading Manufacturers, Key Development, Market Dynamics and SWOT analysis for Key Players. The Medical Tourism market is expected to register a CAGR of approximately 8.5% during the forecast period of (2018 – 2023) 

Medical Tourism Market Report Covers Leading Manufacturers: Cosmedic Travel, BB Health Solutions, Euromedical Tours, Klinikum Medical Link, Apollo Hsopitals, Healthbase, Medretreat, KPJ Healthcare Behard

Get Sample PDF of Report @ https://www.360marketupdates.com/enquiry/request-sample/12887215

The global medical tourism market was valued at USD 15.43 billion in 2017, and is expected to register a CAGR of 8.5% during the forecast period of 2018-2023. Asia-Pacific accounted for the largest of around 40% of the global market, whereas, North America was estimated to register the fastest CAGR over the forecast period.
Medical tourism refers to traveling to another country for obtaining medical treatment. It is a high-growth industry, driven by globalization and rising healthcare costs in developed countries. A study shows that in the United States, about 750,000 residents travel abroad for care, each year. A range of governments across the globe have taken up various initiatives, to stimulate and improve medical tourism in their respective countries, to improve patient quality care and boost the market. Many countries recorded significant economic development potential in the emergent field of medical tourism. Cosmetic surgery, dental care, elective surgery, fertility treatments, cardiovascular surgery, and genetic disorder treatments are the most preferred forms in this sector.

High Cost of Undergoing Medical Treatment

The cost of undergoing medical treatment in a developed country is very high. It is estimated that, although the treatments are of reliable quality, the procedures tend to be on the expensive side. In addition, the major healthcare products are also quite extravagantly priced. Countries in Asia-Pacific, Middle East, and South America provide high-quality medical services at a much lower rate, compared to the developed economies. There are companies that cater to all the medical and non-medical ne of tourists, during their travel.
In addition, the availability of the latest medical technologies and a growing compliance on international quality standards drive this market. The use of English as the main working language, solves the problem of communication and patient satisfaction, and adds to the growth of this market. Health insurance portability, advertising, and marketing are other factors that augment the fast-paced growth of the medical tourism industry.

Issues with Patient Follow up and Post-procedure Complications

Medical procedures, such as heart surgeries and joint replacements, sometimes require patients to follow up for longer periods of time. These follow ups can last for three to six months. However, in the case of medical tourists, they leave for their home country as soon as they are deemed fit for travel. Therefore, follow up mostly happens through online consulting. Online consulting is not always as effective as in-person consulting and can lead to unintentional skipping of important points.
Some ethical concerns regarding medical tourism, like differentiating between the standards of treatment for foreigners and the locals, can hamper the market. In addition, the people from developed countries or other places are prone to diseases/infections in the host country. All these factors are anticipated to restrict the market’s growth.

Asia-Pacific to dominate the market

The global medical tourism industry has been segmented based on treatment type (cosmetic treatment, dental treatment, cardiovascular treatment, orthopedics treatment, bariatric surgery, fertility treatment, ophthalmic treatment, and other treatments) and geography. By geography, it has been segmented into North America, Europe, Asia-Pacific, the Middle East Africa, and South America.
Asia-Pacific has the highest in the market and accounted for around 40% of the global market, in 2017. Owing to increase in accessibility and availability of healthcare facilities and rise in healthcare and research expenditure, Asia-Pacific has a high market potential for the growth of the medical tourism market. This region is anticipated to experience rapid market expansion, due to economic development.

Order a Copy Of Medical Tourism Market Report @ https://www.360marketupdates.com/purchase/12887215

Reasons to Purchase Medical Tourism Market Report:

Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge. 
Analysing various perspectives of the market with the help of Porter’s five forces analysis.
The authentication mode is likely to witness the highest adoption of these systems in the market.
The regions that are expected to witness the fastest growth during the forecast period.
The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
3 months analyst support along with the Market Estimate sheet (in excel). 

Customization of the Report:

This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your ne.

About 360 Market Updates:

360 Market Updates is the credible source for gaining the market reports that will provide you with the lead your business ne. At 360 Market Updates, our objective is providing a platform for many top-notch market research firms worldwide to publish their research reports, as well as helping the decision makers in finding most suitable market research solutions under one roof. Our aim is to provide the best solution that matches the exact customer requirements. This drives us to provide you with custom or syndicated research reports.

Contact Us:

Name: Mr. Ajay More

Email: [email protected]

Phone: +14242530807/+44 203 239 8187

Browse Full Report Here – –

https://www.360marketupdates.com/global-medicaltourism-market-segmented-by-treatment-type-and-geography-growth-trends-and-forecast-2018-2023–12887215

Google News, Medical Tourism Market, Medical Tourism Europe Market, Medical Tourism APAC Market, Medical Tourism Market By Application, Medical Tourism Market By Rising Trends, Medical Tourism Market Development, Medical Tourism Market Forecast, Medical Tourism Market Future, Medical Tourism Market Growth, Medical Tourism Market In Key Countries, Medical Tourism Market Latest Report, Medical Tourism Market Swot Analysis, Medical Tourism Market Top Manufacturers, Medical Tourism Sales Market, Medical Tourism United States Market

Continue Reading