The Market is forecasted to account for an upsurge accretion of USD 226,762.7 Million by 2023with a whooping double digit CAGR of 21.4% during 2017 and 2023.
Medical Tourism isn’t new to the world; from ages individuals have been voyaging abroad for restorative medications. However, finished the most recent couple of years the world is resounding with the term called Medical Tourism or medicinal travel. The scene for Medical Tourism has changed altogether attributable to a different reasons. The Medical Tourism Market is blasting and anticipated that would increase facilitate noticeable quality over the estimate time frame credited to the monetary development over the globe. Monetary development is likewise in charge of the regularly changing inclinations of goals individuals go to.
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Top Key Players:
Asklepios Kliniken Verwaltungsgesellschaft mbH (Germany), Fortis Healthcare (India), Gleneagles Global Hospitals Group. (Singapore), Prince Court Medical Centre (Malaysia), Samitivej PCL (Thailand), Christus Muguerza (Mexico), and Anadolu Medical Center (Turkey) are some of the prominent players competing in the Global Medical Tourism Market and are profiled in MRFR Analysis.
Worldwide Governments are keen and rendering the maximum support to entitle their country as a successful destination concerning healthcare system under the 2020 Vision. They ensure that there are numerous Specialty hospitals and clinics that measure up to international standards. Further, they ensure that there are renowned medical schools to ensure that the myriad of doctors and specialists graduate from there every year. Along with carrying these activities Governments also ensure that while costs are kept relatively low, the standard remains above average and competitive with the global markets. This factor, especially makes medical and health tourism so popular. Holistic approach in providing services, quality of treatments, and highly specialized and educated staff are biggest competitive advantage a country can have. From the very first point of patient ´s contact with the call centres or reception staff to the aftercare and follow up with the patient, these hospitals provide them with a 5-star treatment in every point of view. They promise world´s best medical care and quality service and work really hard to keep it up.
Medical Tourism Market – Regional Analysis:
The Asia Pacific region accounted for the largest share of the global Medical Tourism Industry, which had a lion share of 43.7% in 2016. This growth was attributed to heavy investment in infrastructure development, rising economy, technology up gradation, low cost and quality medical services, and government initiative to promote medical tourism in this region.
America holds the second position in the medical tourism, which is followed by Europe. Central and South American countries such as Mexico, Costa Rica, and Brazil are some of the most popular destinations for Americans and Canadians. The American medical tourism market is expected to grow till USD 102,496.8 million at a CAGR of 22% by end of the 2023. Europe is the growing market for the medical tourism. Since people from Western Europe are traveling to America to seek cost-effective treatments, which has relaxed the growth of the market.
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