Medical tourism can be broadly defined as travel across international borders with the purpose of availing medical treatment, which may or may not be available in one’s own country. This trea.
Medical tourism can be broadly defined as travel across international borders with the purpose of availing medical treatment, which may or may not be available in one’s own country. This treatment may include a wide array of medical services; however, the most frequently availed services include, cancer treatment, orthopedic treatment, elective surgery, and fertility treatment.
Affordability, availability, and accessibility of good quality healthcare services along with assistance from tourism departments and local governments are anticipated to drive the medical tourism market globally. North America and Asia-Pacific are the leading regions with a significant number of inbound medical tourists. Asia-Pacific is projected to grow rapidly because of the availability of appropriate quality of healthcare services at economical cost along with good hospitality.
This report segments the world medical tourism market on the basis of treatment type into cardiovascular, orthopedic, neurological, cancer, fertility, and other general treatments in terms of revenue (USD) as well as number of medical tourists. Cancer treatment emerged as the leading segment, accounting for about one-third of the overall medical tourism market in 2015 and is estimated to remain dominant during the forecast period. The demand for cancer treatment is rising with increasing incidence of cancer along with increased per capita healthcare spending globally. In addition, the high cost of treatment or unavailability of quality treatment compels patients to choose medical tourism as a solution.
The world medical tourism market is segmented on the basis of region into North America, Europe, Asia-Pacific, and LAMEA. Mexico is the top medical tourism destination and hosts the largest number of medical tourists in the world, especially North and Latin Americans, due to quality treatment with economical cost. Asia-Pacific is anticipated to grow at the fastest CAGR of 16.1% between 2015 and 2022. Thailand, Singapore, India, and Malaysia are the top destinations that attract most medical tourists due to superior quality care available at affordable prices and within minimum waiting time.
Capacity addition and promotion of available services through overseas offices and respective tourism department is the key strategy adopted by the healthcare service providers. This study provides a comprehensive overview of the competitive scenario of the market by profiling key participants. The service providers profiled in this study include Apollo Hospitals Enterprise Limited, Fortis Healthcare Ltd. Asian Heart Institute and Research Centre Private Limited, KPJ Healthcare Berhad, Barbados Fertility Centre, NTT Medical Center Tokyo, Seoul National University Hospital, UZ Leuven (University Hospitals Leuven), Infectious Diseases Partners Pte. Ltd. Aditya Birla Memorial Hospital, Barbados Fertility Centre, Prince Court Medical Centre, and Samitivej Public Company Limited. These profiles include key financials, recent developments, and strategic initiatives along with the SWOT analyses.
KEY BENEFITS FOR STAKEHOLDERS:
- This report provides an extensive analysis of the current and emerging trends and dynamics in the global medical tourism market. The medical tourism market scenario is comprehensively analyzed in accordance to the key regions. The market estimations are based on high-end analysis of the key market segments from 2014 to 2022. Extensive research is done for the market by treatment type, which provides a clear understanding about the current trends and flow of medical tourists. A detailed SWOT analysis enables to study the internal environment of the leading service providers for strategy formulation.
MEDICAL TOURISM MARKET KEY SEGMENTS: