Global medical tourism market to reach $143 billion
TravelBizNews —-
The global medical tourism market is expected to reach $143.46 billion by 2025. The global medical tourism market garnered $53.76 billion in 2017, according to a report of Allied Market Research.
Allied Market Research recently published a report, titled, “Medical Tourism Market by Treatment Type (Dental Treatment, Cosmetic Treatment, Cardiovascular Treatment, Orthopaedic Treatment, Neurological Treatment, Cancer Treatment, Fertility Treatment, and Others): Global Opportunity Analysis and Industry Forecast, 2018–2025.”
“Availability and affordability of quality care, accessibility to information, and assistance & support from government agencies and organizations drive the growth in the market. However, limited coverage and lengthy reimbursements procedures of insurance players and difficulties related to travel, language barriers, documentation, and VISA approval restrain the market growth. Contrarily, overseas promotional offices and wide insurance network under insurance coverage open up new pathways in the industry “.
Cosmetic treatment contributed to more than two-fifths of the total market share in 2017 and is expected to continue its dominance throughout the forecast period. The research also analyzes cancer, dental treatment, cardiovascular treatment, orthopedic treatment, neurological treatment, fertility treatment, and others.
Leading market players discussed in the research include Apollo Hospitals, Asian Heart Institute, Fortis Healthcare, NTT Medical Center Tokyo, KPJ Healthcare Berhad, UZ Leuven, Seoul National University Hospital, Aditya Birla Memorial Hospital, Wooridul Spine Hospital, Prince Court Medical Centre, Barbados Fertility Center, and Samitivej PCL.
Similarly, India’s medical tourism industry could grow by 200 per cent by 2020, hitting $9 billion, according to official figures.
The number of foreign tourists visiting India on medical visas was 495 thousand in 2017.
Feb. 14, 2019 / Image : WTM
