Global Medical Tourism Market Set to Touch USD 46.6 Billion By 2021

Global Medical Tourism Market Set to Touch USD 46.6 Billion By 2021

The Medical Tourism Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Medical Tourism Market is estimated to be USD 19.7 billion in 2016 and predicted to rise to USD 46.6 billion by 2021 with a CAGR of 18.8%. The market is segmented by Treatment Type (Orthopedic Treatment, Neurological Treatment, Cardiovascular Treatment, Fertility Treatment, Cancer Treatment, Cosmetic Treatment, Dental Treatment and Others). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.

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The current market trends in Medical tourism market reflect the actual potential the market is capable of attaining. The major factors driving the market growth are high costs of treatment and circumstances of long waiting time for medical procedure, technological advancements and market development of Medical tourism. There are some restraints holding back the market as well. Some of the major ones are stringent documentation of forms, visa endorsement related issues as well as limited scope of protection.

The global market for Medical Tourism is segmented on the basis of types of treatments. Among various types of treatment, the segment dominating the market share is the Cosmetic treatment due to rise in the demand and no coverage under insurance.

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The geographical analysis of the Medical Tourism market provides insights of the market in various regions around the world. The North America market accounts for the largest share in the market due to the technological advancements in the healthcare sector. On the other side the Asia-Pacific market is expected to show high growth rate attributed to the factors such as rising awareness and high investments in the recent years, expected to continue in coming years as well.

Among various companies competing in the medical tourism market, some of the major ones are Min-Sheng General Hospital, Samitivej Sukhumvit, Apollo Hospitals Enterprise Limited, Fortis Healthcare Ltd., Prince Court Medical Center, Asian Heart Institute, Bangkok Hospital Medical Center, Raffles Medical Group, KPJ Healthcare Berhad, and Bumrungrad International Hospital.

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