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  • 22 July 2019 17:46

Medical Tourism Market Opportunities and Forecast, 2018 - 2026

As per a research conducted by Acumen Research & Consulting,The global medical tourism market is expected to reach the market value of around $162 billion by 2026 and is expected to grow at a CAGR of nearly 13% in terms of revenue during the period 2018 - 2026.

The global medical tourism market is expected to reach the market value of around $162 billion by 2026 and is expected to grow at a CAGR of nearly 13% in terms of revenue during the period 2018 - 2026.

Introduction

Medical tourism most often is for surgeries (cosmetic or otherwise) or similar treatments, though people also travel for dental tourism or fertility tourism.People with rare conditions may travel to countries where the treatment is better understood. However, almost all types of health care are available, including psychiatry, alternative medicine, convalescent care, and even burial services.

Description

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 home.However, in recent years it may equally refer to those from developed countries who travel to developing countries for lower-priced medical treatments. The motivation may be also for medical services unavailable or non-licensed in the home country: There are differences between the medical agencies (FDA, EMA etc.) world-wide, whether a drug is approved in their country or not. Even within Europe, although therapy protocols might be approved by the European Medical Agency (EMA), several countries have their own review organizations (i.e. NICE by the NHS) in order to evaluate whether the same therapy protocol would be "cost-effective", so that patients face differences in the therapy protocols, particularly in the access of these drugs, which might be partially explained by the financial strength of the particular Health System.

Market Segmentation

Market By Medical Treatment:Cosmetology,,Dentistry,Cardiology,Orthopedic Surgery,Neurology,Oncology

Market By Geography: North America,Europe,China,Southeast Asia,Japan,India

Key Players

The players profiled in the report include Bumrungrad International Hospital, Min-Sheng General Hospital, Raffles Medical Group, Bangkok Hospital Medical Center, and among others.

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