North America Medical Tourism Market Could Revolutionize Healthcare Industry: Analysis By Top Key players Like Angeles en Lnea, Centro Mdico ABC, Galenia Hospital, Hospital San Jos, Mdica Sur, SA de CV, and Star Mdica

The growth of North America medical tourism market is driven by factors such as geographical convenience of Mexico for Mexico-bound health travelers who reside in South, North & Central America, and the Caribbean, recent Joint Commission International (JCI) accreditations in Mexico, government involvement for the growth of medical tourism in Mexico, lower treatment costs in Mexico, and technological advancements in healthcare facilities in North America However, difficulties associated with travel, language barriers, documentation, and VISA approval issues, and lack of medical training and non-acceptance of healthcare insurances in Mexico limit the market growth. Conversely, rise in geriatric population due to baby boomers in North America, and increase in R&D activities in the field of healthcare provide lucrative opportunities to the market players.

The North America medical tourism market accounted for $20,279 million in 2016, and is estimated to reach $52,786 million by 2023, registering a CAGR of 14.4% from 2017 to 2023.

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The process of traveling outside the country of residence for the purpose of receiving medical treatment and care is known as medical tourism. Medical tourists avail different treatments such as cancer treatment, cardiovascular treatment, neurological treatment, fertility treatment, and others. The escalation in healthcare costs associated in developed countries, has forced individuals to look for affordable alternatives, and has therefore imperatively contributed to supplement the medical tourism market.

Geographical convenience of Mexico for Mexico-bound health travelers who reside in South, North & Central America, and the Caribbean drive the market. In addition, recent Joint Commission International (JCI) accreditations in Mexico, government involvement for the growth of medical tourism in Mexico, lower costs in Mexico, and technological advancements in healthcare facilities in North America further augment market growth. However, difficulties associated with travel, language barriers, documentation, and VISA approval issues, and lack of medical training and non-acceptance of healthcare insurances in Mexico restrict the market growth. Furthermore, rise in geriatric population due to baby boomers in North America, and increase in R&D activities in the field of healthcare provide lucrative opportunities to the market players.

Cancer treatment type segment is anticipated to continue to lead the market throughout the analysis period owing to increase with the number of cross-border travelers seeking high quality cancer treatment. In addition, cancer treatments are expensive and prolonged procedures; hence, good quality treatment available at affordable prices motivates several patients to choose medical tourism.

Furthermore, the neurological disorders treatment segment is anticipated to be the fastest growing treatment type segment with a CAGR of 14.9% from 2017 to 2023, owing to factors such as growth in prevalence of neurological diseases and surge in geriatric population.

Based on country, the market was dominated by Mexico which accounted for more than half of the overall North America medical tourism market in 2016. This growth is attributed to the availability of affordable medical treatments for several disease conditions and geographical proximity to U.S.

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Snapshot of North America medical tourism market
North America is expected to be the major host for medical tourists from across the world, owing to presence of advanced medical technology and expertise in medical services provided in the region. In addition, it is perceived that the overall quality of medical services in North America is higher than in the rest of the world. Mexico is one of the major destinations for medical tourism, as it offers a wide number of high-quality treatments at considerably lower costs as compared to the U.S.

U.S. is another key tourism destination in North America, especially for advanced specialized treatments for cancer, neurological, and cardiovascular ailments.

The key players profiled in this report include

• Angeles en Lnea,
• Centro Mdico ABC,
• Galenia Hospital,
• Hospital San Jos,
• Mdica Sur,
• SA de CV, and
• Star Mdica.

Table Of Content

Chapter: 1: INTRODUCTION
1.1. Report Description
1.2. Key Benefits
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

Chapter: 2: EXECUTIVE SUMMARY
2.1. CXO Perspective

Chapter: 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.2.2. Mexico in the global medical tourism market
3.3. Reimbursement scenario
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Geographical convenience of Mexico
3.4.1.2. Recent Joint Commission International accreditations in Mexico
3.4.1.3. Government involvement in Mexico
3.4.1.4. Lower costs in Mexico
3.4.1.5. Technological advancements in healthcare
3.4.2. Restraints
3.4.2.1. Difficulties associated with travel, language barriers, documentation, and VISA approval issues
3.4.2.2. Lack of medical training and nonacceptance of healthcare insurances in Mexico
3.4.3. Opportunities
3.4.3.1. Rise in geriatric population due to baby boomers
3.4.3.2. Increase in R&D activities in the field of healthcare
3.4.4. Impact analyses

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