Modernization leads to growth of Latin American Medical Tourism Market at a CAGR of 18.9%.

Market Data Forecast recently published a report on the “Latin America Medical Tourism Market” which estimates the market to grow from USD 4.33 billion in 2016 to USD 10.30 billion by 2021 with a high CAGR of 18.9%.

Medical tourism means people travelling to other countries apart from their own for the purpose of medical treatment. People opt for medical tourism either for its low price and high quality treatment or unavailability of a particular treatment in the home country.

To give a better idea, medical tourism is for dental or cosmetic surgeries. There are a lot of risks and issues involved with it. Exposure to diseases with no built up natural immunity might be a hazardous for medical tourists’ especially gastrointestinal diseases which may expose to harmful diseases such as tuberculosis and other diseases transmitted by mosquitoes. Albert Einstein Hospital in Brazil was the first JCI accredited facility outside USA. Therefore, there is a rising demand for this market so most of the industrialized nations are spending a huge part of their GDP on healthcare necessities.

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The DROC Analysis contains some of the factors that have major effects on the market dynamics be it positive or negative. Few factors analysed in the section are Costly treatment in developed countries, less cost of treatments widely available in other countries, rising compliances of international standards, portability regards to health insurance, high chances of infections and travelling costs and issues.

The market is segmented based on type and studied for a deep-level understanding of Medical Tourism. Each sub segment is accompanied with Market Size Estimations and Y-o-Y Forecasts as well.

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Based on Type:
• Orthopedic
• Neurological
• Cardiovascular
• Fertility
• Cancer Treatment

Latin American Market is studied in geographic perspective by segregating the market shares between Brazil, Argentina, Mexico, Colombia and other South American countries. The study identifies Mexico as the predominant region in the Latin American Medical Tourism Market and is expected to grow further at a steady rate.

As per the report, companies like Min-Sheng General Hospital, Apollo Hospitals Enterprise Limited, Samitivej Sukhumvit, Fortis Healthcare Ltd., Asian Heart Institute and Prince Court Medical Center are contributing a fair share to the Latin American Medical Tourism Market. However, due to advancements in the technology and innovations being made in providing modern healthcare facilities there is an intense competition among the players in the market.

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Scope of the Latin America Medical Tourism Market:
• Regional and country-level analysis that provides an innate perspective of USA and Canada Market to that of the North American region
• To detect major focus areas of industrial growth Segment-level analysis on basis of type, along with market size forecasts and y-o-y estimations are provided
• Detailed explanation of major drivers, restraints, opportunities, and challenges (DROC) that affect the market and impact the ever-shifting market dynamics
• PESTLE and Porter’s Five Forces Analyses that examine the macro & micro environmental factors such as political influence, technological prowess, industry rivalry to name a few.
• An extensive listing of major market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and analyst overview to study and sustain the market environment
• mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies all rolled out into Competitive landscape
• Expertly devised Market Outlook comprising the Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

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