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The global “medical tourism market” is rising at a fast pace, driven by governments support across various n. This information has been shared by Fortune Business Insights in its report, titled “Medical Tourism Market Size, Share and Global Trend By Type (Domestic, International), By Treatment (Cosmetology, Dentistry, Cardiology, Orthopaedic surgery, Neurology, Oncology, Other), and Geography Forecast till 2026”. The report highlights the various aspects and advantages of the fledgling global medical tourism market. Medical tourism can be understood as a form of globalisation which involves travel across international borders to avail medical facilities in foreign destinations. Medical tourism or travel has grabbed the interest of governments and medical professionals alike.

Governments view medical exploratory activities as an opportunity to showcase their unique healthcare services; medical professionals seek newer frontiers to research alternative medicines and treatments for prevailing diseases. For example, homeopathy and Ayurveda in India offer effective alternative remedies to western allopathy. In the end, both parties inject the necessary fuel that will propel growth of the global medical tourism market.

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Slow Response Time Impedes the Growth of This Market

The global medical tourism market is affected by poor quality outcomes and poor and slow response times experienced by some of the medical tourists. A lead analyst at Fortune Business Insights cites a research conducted by the Medical Tourism Association which states that about 44.9% of medical tourists reported of slow response time in hospitals. Furthermore, 14.3% of the tourists complained of poor quality outcomes. This does not bode well for the global medical tourism market. The situation is exacerbated by poor communication and transport infrastructure along with barriers posed by language in these developing countries.

Dynamic Competition Accelerating Growth

Competition among key players to capitalize on the existing opportunities in the rapidly advancing global medical tourism market has grown exponentially. Research and development activities are being funded by private companies to maintain their competitive edge in the market. For example, Clearbridge Health has announced the building of a massive clinic in Hong Kong that will serve as a work floor for visiting medical specialists. In India, the southern state of Kerala is actively promoting health and medical tourism as an integral part of its tourism industry to attract foreign tourists. Such examples are proof that competition in the global medical tourism market is taking place not just between private players, but also in the public sector.

According to the report, some of the major players in the global medical tourism market include Mount Elizabeth Hospital in Singapore, Apollo Hospitals Enterprise Limited and Asian Heart Institute in India, Asklepios Kliniken GmbH in Germany, Bumrungrad International Hospital in Thailand, among others.

Leading Players operating in the Medical Tourism Market are:

Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:

  • Bumrungrad International Hospital
  • Mount Elizabeth Hospital
  • Bangkok Chain Hospital
  • KPJ Healthcare Berhad
  • Apollo Hospitals Enterprise Limited
  • Fortis Healthcare Limited
  • Asian Heart Institute
  • Asklepios Kliniken GmbH

The Latest Research on Medical Tourism Market highlights leading regions across the world, with an aim to offer a better understanding to the user. Furthermore, the report provides insights into the latest industry trends and analyzes technologies that are being deployed at a rapid pace at a global level. It further highlights some of the growth stimulating factors and restraints, helping the reader to gain an in-depth knowledge about the market.

The report covers:

  • Global Medical Tourism Market trends, with detailed analysis on consumer trends & manufacturer trends.
  • Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
  • Key areas of investments identifying market opportunities and challenges in forecast timeframe.
  • Competitive analysis of the industry players along with the overview on strategic management.
  • Comprehensive company profiles of the major industry players.

Access to Low Cost Medication a Primary Driver of Medical Tourism Market

Developed countries such as the U.S. are often criticized for their expensive healthcare delivery systems. For example, in the U.S., a Harvard study showed that medical care is the country is unaffordable owing to inflated prices of drugs, high salaries of doctors, and high cost of hospital administration. Therefore, patients from such countries desperately search for destinations where healthcare is more affordable and accessible. Developing countries such as India and Brazil offer the perfect solution and lay the foundation for the global medical tourism market to flourish. The World Health Organization (WHO) recently declared Brazil as having the best healthcare delivery system in Latin America.

Segmentation of the Global Medical Tourism Market

By Type

  • Domestic
  • International

By Treatment

  • Cosmetology
  • Dentistry
  • Cardiology
  • Orthopedic surgery
  • Neurology
  • Oncology
  • Others

By Geography

  • North America (USA and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

Frequently Ask Question :

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Report Focus:

  • Extensive product offerings
  • Customer research services
  • Robust research methodology
  • Comprehensive reports
  • Latest technological developments
  • Value chain analysis
  • Potential Medical Tourism Market opportunities
  • Growth dynamics
  • Quality assurance
  • Post-sales support
  • Regular report updates

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