The Booming Medical Tourism Market: Trends and Forecasts

Medical Tourism Market Trends and Growth Research by Treatment Type (Orthopedic/Spine Treatments, Oncology/Cancer Treatments, Cosmetic Treatments, Cardiovascular Treatments, Dental Treatments, Fertility/IVF Treatments, others), by Regions – Global Forecast Till 2023Market InsightsIncreasing costs of treatments for chronic diseases and other kinds of treatment have been highly encouraging of medical tourism.

Market Research Future has published its newest report on the global medical tourism market which reveals an expected and promising CAGR of  21.4% during the forecast period from 2017 to 2023.

The market was found to be valued at USD 70,836.9 Mn at the start of the forecast period and is likely to grow to reach an impressive USD 226,762.7 Mn by the end of 2023.Avail a Free Sample@ https://www.marketresearchfuture.com/sample_request/1975 In the US, an angioplasty treatment would cost well over USD 55,000.

The drastic difference in costs has led patients in developed countries with high healthcare costs to seek treatment in countries which are emerging rapidly and have a similar medical infrastructure.

The reduces waiting time for treatment in these countries is also a significant factor driving growth for the global market.

This is divided into neurology/neurosurgery treatments, orthopedic/spine treatments, fertility/IVF treatments, cosmetic treatments, cardiovascular/cardiology treatments, oncology/cancer treatments, and dental treatments.

Medical Tourism Market by Treatment Type (Orthopedic/Spine Treatments, Oncology/Cancer Treatments, Cosmetic Treatments, Cardiovascular Treatments, Dental Treatments, Fertility/IVF Treatments, others), by Regions - Forecast Till 2027The demand for medical tourism has risen as certain regions have become pioneers in certain sorts of medical treatments.

The market is predicted to demonstrate a 21.4% CAGR during the forecast period.The improved government support for medical tourism development is spurred by the benefits gained by the visitors who choose certain countries due to their particular medical expertise, and this is predicted to have a favorable impact on market development.

The treatment type segment of the medical tourism market comprises of dental treatments, cardiovascular/cardiology treatments, oncology/cancer treatments, orthopedic/spine treatments, cosmetic treatments, neurology/neurosurgery treatments, and fertility/IVF treatments.

The regions segment in the medical tourism market consists of Asia Pacific, North America, Europe, and other vital regions.Detailed Regional Analysis The regional investigation of the medical tourism market consists of Asia Pacific, North America, Europe, and other vital regions.

The technological progress, rising economy, and application of advanced machinery in health facilities are creating a favorable scenario for the medical tourism market growth in the region.

The European medical tourism market is also estimated to trigger a noteworthy rise in the forecast period.Request Free Sample Copy at:  https://www.marketresearchfuture.com/sample_request/1975 Competitive AnalysisThe government policies in several regions are very conducive to the development of the market in the upcoming period.

A recent report published by TheBusinessResearchCompany on Medical Tourism Market provides in-depth analysis of segments and sub-segments in the global as well as regional.The Medical Tourism Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global medical tourism market.

The report covers the medical tourism market’s segments- cosmetic treatment, dental treatment, cardiovascular treatment, orthopedics treatment, bariatric treatment, fertility treatment, and ophthalmic treatment.Medical Tourism Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.

The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.It also compares the market’s historic and forecast growth.

It covers all the regions, key developed countries and major emerging markets.

It draws comparisons with country populations and economies to understand the importance of the market by country and how this is changing.

The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.Patients travelling across countries for medical treatment are increasingly using electronic health records in digital format to store information related to health.

The global medical tourism market size is expected to reach USD 207.9 billion by 2027, expanding at a CAGR of 21.1%, according to a new report by Radiant Insights, Inc. Medical tourism generates direct foreign exchange income and contributes to the overall development of any economy.

Moreover, it helps in the growth of associated businesses such as pharmaceuticals, healthcare devices, and tourism.

Government support to maintain the general reputation and political stability of the host country is a key influencing factor that drives the market.

Such government bodies are authorizing projects that help in the overall development of infrastructure in the country such as the public transport system and water supply facilities to attract high-end travelers.

Further key findings from the report suggest: • Thailand dominated the market in terms of revenue in 2019 pertaining to the huge difference in treatment cost in comparison to developed countries.

Moreover, the country ranked 13th on the same index in terms of quality of facilities and services provided owing to well-developed healthcare infrastructure and an increasing number of healthcare professionals • In Thailand, Asia’s first largest private hospital, Bumrungrad International Hospital, is also the first hospital to receive JCI accreditation and ISO 9001 certification.

Astute Analytica published a new report deciphering the Global Medical Tourism Market, the report provides detailed analysis and meaningful insights of important aspects required to shape the growth of the market.

It unmasked the prominent growth drivers, restraint factors, challenges, opportunity analysis, and trends, along with other indispensable factors including the geographical outlook, current and prospective scenario of competitive landscape and market vendors.

The report also contains a detailed analysis of market size and segmentation along with determinants representing the dominating segments.The global Medical Tourism market is expected to reach at a remarkable value and to grow at a considerable CAGR over the forecast period i.e.

In the past years, the market has shown a significant growth rate and is projected to display a profitable growth in the upcoming years.

The major companies profiled in the Medical Tourism Market include names of key players among other prominent players.

These players have adopted various business strategies including expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain and maintain a strong base within the industry.The coronavirus or COVID-19 medical emergency broke out in December 2019, which has been imposed worldwide.

Improvements in healthcare technology and high standards of healthcare attract patients from other developed as well as developing countries to travel to U.S. for availing care pertaining to complex healthcare issues, including cardiovascular diseases and cancer.

Facilities in other countries may not maintain accreditation or provider licensure.

Hence, medical tourists prefer U.S. for healthcare to avail the highest care quality.Most patients pay for treatment at time of service.

A few health insurance providers and large-scale employers in U.S. collaborate with hospitals outside the country to control employee healthcare costs.To Request A Sample Copy Of This Report @:   https://www.radiantinsights.com/research/us-medical-tourism-market/request-sampleWhat is a Medical tourism?Medical tourism refers to people traveling abroad to obtain medical treatment.

In the past, this usually referred to those who traveled from less-developed countries to major medical centers in highly developed countries for treatment unavailable at homeFurther key findings from the study suggest:The inbound segment dominated the market in 2018.

Attractive healthcare travel packages for inbound tourists along with insurance, emerging trend of oncology tourism, and growing prevalence and early onset of chronic diseases are some of the factors driving U.S. inbound medical tourismThe U.S. has known states for medical tourism that includes Florida, Pennsylvania, and Arizona.