Medical tourism includes traveling to another country to avail medical treatment of some form, which may or may not be offered in the travelersí home country. This treatment may include a wide array of medical services; however, the most frequently availed services include cardiovascular treatment, cancer treatment, orthopedic treatment, neurological treatment, fertility treatment, cosmetic surgery, dentistry, and others. The global medical tourism market is driven by globalization as well as increasing healthcare costs in developed countries. High cost of medical treatment in developed nations and their availability at low price in other countries impel the market growth over the near future. Many governments around the globe have taken up several initiatives, to stimulate & improve medical tourism in their respective nations, to improve patient quality care so as to boost the market. Many nations recorded noteworthy economic development potential in the emergent field of medical tourism.
According to AMA, the market for Medical Tourism is expected to register a CAGR of 13.6% during the forecast period to 2026. This growth is primarily driven by Availability as well as affordable of quality care, Accessible information & care, Assistance & support from government agencies & associations and High Cost of Medical Treatment in Developed Nations and Their Availability at Low Price in Other Countries.
The Health Care sector in the Asia-Pacific region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Bumrungrad International Hospital (Thailand), Asian Heart Institute (India), Apollo Hospitals (India), Prince Court Medical Centre (Malaysia), Gleneagles Hospital (Singapore), Min-Sheng General Hospital (Taiwan), Samitivej Sukhumvit Hospital (Bangkok), Raffles Medical Group (Singapore), Clemenceau Medical Centre (Lebanon) and Bangkok Hospital (Thailand) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In Oct, 2017, The Indian ministry of finance, together with the ministries of tourism & health, launched a portal, www.indiahealthcaretourism.com. The portal is used for helping medical travelers with a complete information base. It also provides information in languages such as Arabic, French, and Russian.
- Availability as well as affordable of quality care
- Accessible information & care
- Assistance & support from government agencies & associations
- High Cost of Medical Treatment in Developed Nations and Their Availability at Low Price in Other Countries
- Problems associated with travel, availability, language barriers, documentation, & VISA approval issues
- Restricted coverage & lengthy fractional reimbursement by payers
OpportunitiesWidespread hospital network under insurance coverage for cashless transactions
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the ReportAMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Medical Tourism Study Sheds Light on The Medical Tourism Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Medical Tourism industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Medical Tourism industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.