Medical Tourism Market 2019 | Industry Growth by Forecast to 2025

The worldwide medical tourism market size will exceed USD 30.0 billion by 2025; as per a new research report. Growing awareness among patients pertaining to medical tourism will be one of the major growth rendering factor. Initiatives undertaken by public and private healthcare centers for promotion of medical tourism and various advantages associated with medical travel will spur market growth in the future. For instance, government of India is constantly promoting and marketing its developed healthcare sector for attracting foreign patients and medical tourists. Aforementioned factors will boost medical tourism market growth in the future.

Various government policies to ease medical ease medical travel will foster industry growth. Reduction in wait time, quick approval of visa and simpler admission process are few of the strategies incorporated in policies for foreign patients. Framing new policies for medical tourists that will assure simpler, quick and high-quality medical treatment for foreign patients. Numerous initiatives undertaken by government for promotion and ease of medical travel will attract large number of foreign patients, thereby driving medical tourism market across the forecast timeframe.

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Medical Tourism market report is an all-inclusive document, compiled and designed to provide best-in-class research, insightful analysis and accurate quantitative data. The coverage of this research is the most extensive when compared to other similar studies available on Medical Tourism market. The industry ecosystem information presented in this report is next-to-none and aims to address all stakeholders of the industry, irrespective of their size and business function. Details of segmentation and cross reporting structure, wherever feasible, makes this Medical Tourism market research one of its kind to offer the most in-depth, readily available data.

Growing compliance to international standards for medical treatments in developing countries will spur growth of medical tourism market in upcoming years. According to a study published by Fraser Institute, around 63 thousand Canadian citizens traveled abroad for availing medical treatments. Major reason for seeking medical treatment abroad was increasing compliance of medical treatments with international standards. Currently, there are more than 450 Joint Commission International (JCI) accredited hospitals around the world. This will lead to increasing inclination of patients towards medical treatments in foreign countries.
Availability of high-quality medical treatment procedures in developing countries is the one of the major factors driving medical tourism market. For instance, success rate of open heart surgery in India in around 98%, that is the highest in whole of Asia Pacific region. Also, rising focus of major public and private hospitals towards offering medical treatments of quality similar to those in developed nations such as U.S. and UK will spur medical tourism market growth.

Cosmetics surgery market accounted for largest revenue of USD 2,863.1 million in 2017. Number of people opting for cosmetic surgeries is increasing annually. This is attributable to rising influence of aesthetics among people. Also, with increasing geriatric population, the demand for face lift surgeries and hair restoration procedures will increase across the forecast timeframe.

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Mexico medical tourism market accounted for revenue of USD 2.4 billion in 2018, owing to availability of high-quality and efficient medical treatment at significantly lower cost as compared to other developed nations. Also, the Mexican government have invested a large proportion of their GDP towards improvement of healthcare infrastructure to improve the healthcare infrastructure. Increasing number of people suffering from various chronic diseases, rising demand for advanced treatment coupled with need for cost-effective procedure will drive Mexico medical tourism market.

India medical tourism market is forecasted to expand at 11.3% CAGR across the projected timeframe owing to increasing number of medical tourists visiting the country. Various government initiatives to promote medical tourism in the country will propel industry growth. Furthermore, high success-rate of treatments at a relatively lower cost will significantly boost the growth of industry in the future.

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Report Content
Chapter 1. Methodology
1.1. Methodology
1.2. Market definitions
1.3. Forecast parameters
1.4. Data sources
1.4.1. Secondary
1.4.1.1. Paid sources
1.4.1.2. Unpaid sources
1.4.2. Primary
Chapter 2. Executive Summary
2.1. Medical tourism market industry 3600 synopsis, 2014 - 2025
2.1.1. Business trends
2.1.2. Application trends
2.1.3. Regional trends
Chapter 3. Medical Tourism Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2014 - 2025
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Low cost of medical treatment in developing countries
3.3.1.2. Rising awareness about medical tourism among patients
3.3.1.3. Availability of high-quality medical treatment in developing countries
3.3.1.4. Growing compliance towards international standard for surgical procedures
3.3.1.5. Ease and affordability of international travel
3.3.1.6. Various government policies to ease medical travel
3.3.2. Industry pitfalls & challenges
3.3.2.1. Long wait times for certain medical procedure
3.3.2.2. Issue with patient follow-up and post-surgery complications
3.4. Growth potential analysis
3.4.1. By application
3.5. Porter's analysis
3.6. Competitive landscape, 2017
3.6.1. Strategy dashboard
3.7. PESTEL analysis

More insightful Info: https://www.marketwatch.com/press-release/global-medical-tourism-market-2019-opportunity-analysis-and-industry-forecast-by-2025-gmi-analysis-2019-09-04

Prominent industries involved in medical tourism market are Asklepios Kliniken GmbH, Apollo Hospitals, Bumrungrad International Hospital, and Fortis Healthcare. These key industry players adopt various strategies such geographic expansion, joint ventures, mergers and acquisitions to capture larger market share.

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