Medical Tourism Growth

The growth of global medical tourism in the last decade has influenced overall growth of health care sector.

Tourism in india youtube. The asia pacific medical tourism market growth is expected to experience considerable development owing to the availability of good quality care at a cost less than 70 of the price of services in north america. The availability of additional benefits including better healthcare latest technologies innovative medicines modern devices better hospitality and personalized care are some of the drivers of this market. However reported cases of slow response time and poor quality outcomes are restraining factors for the growth of global medical tourism market.

That growth appeared to parallel the worldwide boom in medical tourism that took place in the early 21st century. Get more details on this report request free sample pdf growing compliance towards international standards of medical treatments will be the major growth driving factor for medical tourism market. Nowadays medical tourism is the most visible part of a generalised growth in the globalisation of healthwhich essentially comes down to international trade in health services.

Due to multidimensional impact of pandemic covid 19 in the form of health care crisis falling global economy restricted international travel medical tourism industry is going through a substantial time. A report issued by visa and oxford economics the medical tourism industry was valued at a staggering usd 100 billion with a projected growth rate of up to 25 year over year for the next 10 years as an estimated three to four percent of the worlds population will travel internationally for healthcare and health related treatment. Developed countries such as the us.

For example in the us a harvard study showed. Medical tourism market size was valued at usd 19 billion in 2018 and is expected to witness more than 65 cagr from 2019 to 2025. Medical tourism market growth factors.

According to research conducted by medical tourism association in 2015 an estimated 449 of medical tourists reported slow response time by hospital while an estimated 143 reported poor quality. Most people prefer to receive healthcare close to home. Furthermore development in healthcare infrastructure and economy boost the market growth in asia pacific.

Medical tourism market research report provides an in depth analysis of the market size share growth rate drivers restraints challenges threats and growth opportunities in existing and.