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Outbound Medical Tourism Services Market Analysis and Forecast up to 2030
Outbound Medical Tourism Services Market: OverviewThe mobility across the international boundaries for medical conduct is generally known as Medical tourism. This tourism basically depends on the availability of treatments in the home-based countries. They travel to the different regions to receive the treatment for any diseases or for ailment, which is not available in their respective countries, and for high quality medical services even from experts.
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The major surgeries involve in outbound medical tourism are weight loss treatment, cosmetic surgery treatment, dental treatment, cardiovascular treatment, fertility treatment, cancer treatment, and orthopaedic treatments. However, the cosmetic surgery, fertility treatments, and dental care are some of the surgeries which expects more demand for medical tourism from all over the world.
Key destinations are from developing countries such as India, South Korea, UK, Thailand, Mexico, Brazil, Malaysia, Barbados, Japan, Singapore, Costa Rica, Hong Kong, Israel, Iran, South Africa, France, Germany, and Turkey among others. These countries offer more specified treatments for medical illnesses, which treatment specific diseases.
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Outbound Medical Tourism Services Market: Competitive Landscape
Some of the major players operating in the global outbound medical tourism services market include Apollo Hospital Enterprise Limited, T Global Medical Tourism Inc., Christus Muguerza Hospital Mednamaste, KPJ Healthcare Berhad, Bumrungrad International Hospital, WorldMed Assist.
Some of these medical centres are adopting strategies like medical insurance provision and easy financing schemes; this attracts their outbound medical tourism patients.
Outbound Medical Tourism Services Market: Drivers and Restraints
The growth of outbound medical tourism services market is majorly attributed to increase in per capita income and continuously rising awareness about wellbeing. The increasing inclination toward more aesthetics, which is boosting demand for cosmetic, dental care, weight losses, and critical treatment are boosting overall outbound medical tourism services market.
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The major reason for patients to take on outbound medical tourism is to get access to better healthcare particularly for their illness. While other factor is treatment availability and affordability; some of these countries offer disease centric treatments which is fuelling growth of the market.
However, the demand of the outbound medical tourism is restricted due to factors such as unclear information regarding the treatment centres, safety issues of tourists, and the tours being expensive. The other factors leading to sluggish growth are expenses involved in the treatments. Nonetheless, the demand is increasing exponentially and reliability is estimated to offer opportunities for growth in future as well.
Additionally, many treatment centres are offering variety of treatment options along with discounts and payment options. They come up many opportunities to an extent to propel the further growth. Other trends include visiting experts or surgeons to the hospitals for providing treatment to critical patients. Some of these trends are likely to fuel the market growth in coming future.
Outbound Medical Tourism Services Market: Regional Outlook
Among the Among North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, North America region is expected to remain dominant in the overall outbound medical tourism services market. This growth is attributable to the high investment in the healthcare in the region. The market in Europe is estimated to fuel the market growth owing to robust investment in healthcare. Additionally, the investment for improving existing healthcare is boosting its growth substantially.
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However, the market across Asia Pacific is estimated to witness most lucrative growth as the investment is flouring and investment for newer technologies is increasing robustly. Further, increasing per capita income and capability of expenditure is likely to boost the demand that is likely to fuel the market in coming future. Additionally, increasing inclination toward more aesthetic has boosted the adoption of improved healthcare in the region, which is influencing positively on the global outbound medical tourism services market.
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