Dallas, Texas, Oct. 22, 2019 (GLOBE NEWSWIRE) -- The “Global Medical Tourism Market Statistics By Treatment Type (Cosmetic, Dental, Cardiovascular, Orthopedics, Bariatric, Fertility, Eye and General Treatment), By Region and Forecast, 2015 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
In traditional medical tourism, patients used to travel to developed economies such as the U.S and Europe to receive high-end treatments, owing to lack of treatment facilities and long waiting time in their respective countries. However, in recent years, the scenario is changing, patients are traveling to developing countries like India, Singapore, Thailand, Malaysia, Costa Rica, Dubai, and Turkey for medical treatment. Improving healthcare infrastructure, substantial savings on health treatment, along with the growing number of medical facilitators have resulted in developing the health tourism in these countries over the past few years and this trend is expected to continue over the forecast period. Also, growing investment in healthcare infrastructure to attract medical tourism and growing significant number of private agencies offering medical tours are other factors anticipated to boost the growth of the global medical tourism market.
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Some of the private hospitals encouraging medical tourism are Bumrungrad International Hospital, Asian Heart Association, Bangkok Hospital, Samitivej PCL, Yanhee International Hospital, Apollo Hospitals Enterprise Ltd., Fortis Hospital Limited, Artemis Hospitals, Mexicali Bariatric Center, Sunway Medical Centre, NTT Medical Center Tokyo, Singapore Vita Agency, and Wooridul Spine Hospital.
Patients, especially from the developed countries, have been traveling to these countries for medical treatments, as it saves around 30% to 70% of the total treatment cost. Also, the availability of skilled professionals at a lower price is another main factor behind low cost of medical treatment. Increasing the incidence of chronic diseases across the globe and exorbitant costs quoted by their healthcare providers are factors projected to drive the growth of the global medical tourism market over the forecast period. However, fear of infectious diseases during the treatment and incidence of misdiagnosis can put medical tourism demand at risk, thereby hampering the growth of the market.
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On the basis of treatment type, the global medical tourism market is segmented into cardiovascular treatment, cancer treatment, fertility treatment, neurological treatment, orthopedic treatment, cosmetic treatment, dental treatment, and other treatments. Demand for cancer treatment is expected to propel at a faster rate, owing to the growing incidence of cancer globally, coupled with the high cost involved in the diagnosis and treatment of the disease. According to the recent data published by the World Health Organization (WHO), cancer is the world's second-largest cause of death, with an estimated 9.6 million deaths in 2018.
Considering the regional demarcation, the global medical tourism market is broadly segmented across five regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific is expected to register the fastest growth rate over the forecast period. This is attributed to the growing number of private hospitals, availability of specialized doctors along with the lower cost of treatment when compared to the developed countries. Also, the government is fostering medical tourism by offering several visa policies to the patient as well as to their companions. Countries such as India, Singapore, Thailand, South Korea accounts for significant revenue share in the region and is expected to register fastest growth rate over the coming years.
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Major points from Table of Contents:
Chapter 1. Research Methodology
Chapter 2. Executive Summary
Chapter 3. Market Outlook
Chapter 4. Global Medical Tourism Market Overview, by Treatment Type
Chapter 5. Global Medical Tourism Market Overview, By Region
Chapter 6. Competitive Landscape
Chapter 7. Company Profiles
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