Medical tourism market has significant potential due to high demand for best class healthcare facilities. Medical tourism can be defined as traveling across international borders with a particular objective of availing some medical treatment. Increment in medical tourism is due to the specialized facilities and treatment which may or may not be available to the traveler’s home country. These facilities may include a wide array of medical services that are provided by the specialized centers. According to the Global Healthcare Resource (GHR), globally 72% of the patients travel aboard for Orthopedic/Spine procedures. 70% for Oncology/Cancer treatments, 60% for Cosmetic/ Plastic/ Aesthetic procedures, 54% for Cardiovascular/Cardiology treatments, 52% for Neurology/ Neurosurgery procedures, 40% for Fertility/IVF procedures and others.
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Affordability, accessibility along with the cost-effectiveness of good quality health services are the growth boosters for the global medical tourism market. Also, assistance from the tourism department and local government can further support the development of medical tourism. Moreover, the availability of the latest medical technologies along with safety regulations in medical centers across the globe is expected to fuel the development of market growth. The medical tourism industry has a promising future owing to the advancement in the medical tourism market.
One of the drivers for medical tourism market is the quality of healthcare and services provided by the hospitals and medical centers. The competition in the medical market becomes fiercer, players in the industry have adopted several policies to boost their service value and quality to distinguish them from their competitors. A few of these policies include expanding training and proficiency in specific medical specialties, building strong collaborations with leading hospitals and healthcare centers, availability of state-of-the-art medical infrastructure, and investing in research and technology.
However, medical tourists have been prone to a wide array of health risks when they return to their home country. The conditions may include amoebic dysentery, Tuberculosis, paratyphoid, deep vein and so on. These severe conditions may be due to poor post-operative care and inadequate tests that could affect the market. Moreover, limited insurance cover to a particular country, issues related to visa approval, lengthy document procedures are also some of the deterring factors for the global medical tourism market. According to the International Healthcare Research Center, the prominent tourism centers across the globe including Thailand, India, Taiwan, South Korea, Brazil, Costa Rica, Israel, Turkey, Canada, and the U.S.
Malaysia as one of the top markets for the global tourism offer treatments by highly skilled medical professionals. Some of the top key players in the medical tourism industry include Asian Heart Institute (India), Prince Court Medical Centre (Malaysia), Apollo Hospitals (India), Min-Sheng General Hospital (Taiwan), Gleneagles Hospital (Singapore). In addition, Bumrungrad International Hospital (Thailand), Fortis Healthcare Ltd. (India), Samitivej Sukhumvit Hospital (Bangkok), Clemenceau Medical Centre (Lebanon), Raffles Medical Group (Singapore), Bangkok Hospital (Thailand) also provide exceptional service quality for various medical treatments.
Global Medical Tourism Market: - Segmentation
By Treatment Type
Global Medical Tourism Market: - Region
North America
Europe
Asia-Pacific
Rest of the World
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