Medical Tourism Market is Expected to Grow at a CAGR of 15% from 2016 to 2022

Market research future published a cooked research report on global medical tourism market. The global medical tourism market is expected to grow at a CAGR of 15% during the period 2016 to 2022.

Medical tourism market information: by treatment types (orthopedic/spine treatments, oncology/cancer treatments, cosmetic treatments, cardiovascular/cardiology treatments, dental treatments, neurology/neurosurgery treatments, fertility/IVF treatments, others) - Forecast till 2023

Market Scenario
Travelling abroad for medical treatment is not a recent trend, it has been gaining more momentum and media interest in the last decades. According to a report by Oxford Economics and Visa, around 11-14 million people travel abroad for healthcare services.
The global medical tourism market is growing at a steady pace and it is expected to grow at a CAGR of 21.4% during the forecasted period 2017-2023. Availability of cost-effective treatments, quality service & less waiting period, and rising geriatric & middle class population drives the growth of the market. However, communication barriers and need for travelling may hamper the market growth.

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he major participants of this market are: Parkway Pantai Limited (Singapore), Prince Court Medical Centre (Malaysia), Shouldice Hospital (Canada), Schoen-Kliniken (Germany), Bumrungrad International Hospital (Bangkok), Bangkok Hospital (Bangkok), Clemenceau, CHRISTUS MUGUERZA, Fortis Healthcare (India) and others.
Global Medical Tourism Market:
The global medical tourism market has been evaluated as a growing market and it is expected that the market will touch high growth figures in future. Factors such less expensive treatment options in developing countries and the advancement in the technologies for the treatment of chronic diseases will drive the growth of the market. The global medical tourism market is expected to grow with CAGR of ~15% during the forecasted period.
Regional Analysis of Global Medical Tourism Market
The Asia Pacific region accounted for the largest share of the global medical tourism market, which had a lion share of 43.7% in 2016. This growth was attributed to heavy investment in infrastructure development, rising economy, technology up gradation, low cost and quality medical services, and government initiative to promote medical tourism in this region.
America holds the second position in the medical tourism, which is followed by Europe. Central and South American countries such as Mexico, Costa Rica, and Brazil are some of the most popular destinations for Americans and Canadians.
The American medical tourism market is expected to grow till USD 102,496.8 million at a CAGR of 22% by end of the 2023.
Europe is the growing market for the medical tourism. Since people from Western Europe are traveling to America to seek cost-effective treatments, which has relaxed the growth of the market.

Key Findings
• The global medical tourism market is expected to reach USD 226,762.7 million by 2023.
• Asia Pacific holds the largest share of 43.7% of the global market.
• Orthopedic/spine by type holds the largest market share of 14.9% of the global medical tourism market and is expected to reach USD 27,902.8 million by the end of the forecast period.
• Globally, Oncology/Cancer is the fastest growing segment and expected to grow at a rate of CAGR 21.9% during the forecast period owing to continuously increasing prevalence of different types of cancers.

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The report on the global medical tourism market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain deeper insight to the market and industry performance. The report gives a clear picture of the current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions

Table of Content
1 REPORT PROLOGUE 8

2 INTRODUCTION 11

2.1 SCOPE OF STUDY 11

2.2 RESEARCH OBJECTIVE 11

2.3 ASSUMPTIONS & LIMITATIONS 12

2.3.1 ASSUMPTIONS 12

2.3.2 LIMITATIONS 12

3 RESEARCH METHODOLOGY 13

3.1 RESEARCH PROCESS 13

3.2 PRIMARY RESEARCH 14

3.3 SECONDARY RESEARCH 14

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4 MARKET DYNAMICS 15

4.1 INTRODUCTION 15

4.1.1 DRIVERS 16

4.1.1.1 COST EFFECTIVE TREATMENTS 16

4.1.1.2 QUALITY SERVICE AND LESS WAITING PERIOD 16

4.1.1.3 AGEING POPULATION AND RISING MIDDLE CLASS 16

4.1.2 RESTRAINTS 17

4.1.2.1 COMMUNICATION BARRIERS 17

4.1.2.2 TRAVELLING BEFORE AND AFTER SURGERY 17

4.1.3 OPPORTUNITIES 17

4.1.3.1 INCREASING NUMBER OF MEDICAL TOURISTS 17

4.1.4 CHALLENGES 18

4.1.4.1 SECURITY OF PATIENT INFORMATION AND OTHER ILLEGAL PRACTICES 18

5 MARKET FACTOR ANALYSIS 19

5.1 PORTERS FIVE FORCES ANALYSIS 19

5.1.1 BARGAINING POWER OF SUPPLIERS 20

5.1.2 BARGAINING POWER OF BUYERS 20

5.1.3 THREAT OF NEW ENTRANTS 20

5.1.4 THREAT OF SUBSTITUTES 21

5.1.5 INTENSITY OF RIVALRY 21

5.2 VALUE CHAIN ANALYSIS 21

5.2.1 HEALTHCARE SERVICES PROVIDERS/HOSPITALS 21

5.2.2 FACILITATORS 21

5.2.3 PATIENTS 21

5.2.4 AIRLINES 22

5.2.5 HOTELS 23

5.2.6 INSURANCE PROVIDERS 23

6 GLOBAL MEDICAL TOURISM MARKET, BY TREATMENT TYPE 24

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