DUBLIN, Feb. 26, 2019 /PRNewswire/ --
The "Medical Tourism Market Size, Share & Trends Analysis Report By Country (Turkey, Costa Rica, Thailand, India, Mexico, Singapore, Brazil, Malaysia, Taiwan, Colombia, South Korea), And Segment Forecasts, 2019 - 2026" report has been added to ResearchAndMarkets.com's offering.
The global medical tourism market size is expected to reach USD 179.6 billion by 2026, registering a 21.9% CAGR during the forecast period.
Medical tourism generates direct foreign exchange income and contributes to the overall development of any economy. It also provides employment and business opportunities for residents. Moreover, it aids the growth of associated businesses such as pharmaceuticals, medical devices, and tourism. Government support to maintain the general reputation and political stability of the host country is a key factor driving the medical tourism market.
Government authorities are willing to invest in local enterprises to capitalize on the growth of medical tourism. Such government bodies have been authorizing projects that help in the overall development of infrastructure in a country, such as public transport system and water supply facilities, to attract high-end medical travelers.
Medical tourism has led to a rise in state-of-the-art medical facilities in developing countries to attract foreign nationals, resulting in fast growth of healthcare infrastructure in such countries. Moreover, healthcare providers now offer comprehensive medical tourism packages that include services ranging from ticket booking to hotel stay and medical insurance.
Thailand dominated the market in terms of revenue in 2018 owing to low cost and good quality medical services offered in the country. In 2016, Thailand ranked 18th in the International Healthcare Research Center's Medical Tourism Index. 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 increasing number of medical professionals. Thailand is also home to Asia's first largest private hospital, Bumrungrad International Hospital, which is also the first hospital to receive a JCI accreditation and ISO 9001 certification. Till date, over 53 private hospitals have received JCI accreditation.
Further key findings from the report suggest:
- While Thailand is popular for cosmetic procedures, India is most preferred for cardiovascular and orthopedic procedures. Brazil and Costa Rica, on the other hand, are preferred for dental procedures
- Thailand dominated the market in terms of revenue in 2018 due to the massive difference in treatment cost compared to developed countries. Around 2.4 million people visited Thailand to seek medical care in 2017 owing to low cost and good quality medical services
- Singapore, Colombia, Taiwan, and Spain are some of the fastest growing medical tourism destinations in this market. Medical tourism is an important source of revenue generation for these countries, boasting advanced healthcare infrastructure and skilled manpower to cater to international patients
- Bumrungrad International Hospital and Apollo Hospitals Enterprise Ltd. are the leading treatment destinations for medical tourism in Thailand and India respectively. Other prominent examples include Mexicali Bariatric Center in Mexico and TMC Fertility in Malaysia.
Key Topics Covered:
Chapter 1 Methodology
1.1 Research Methodology
1.2 Information or Data Analysis
1.3 Market Formulation & Validation
1.4 Region Wise Market Calculation
1.5 Model Details
Chapter 2 Executive Summary
2.1 Market Summary
Chapter 3 Industry Outlook
3.1 Market Segmentation
3.2 Market Variable Analysis
3.2.1 Market driver analysis
126.96.36.199 Rising number of medical tourists due to high treatment costs in their native countries
188.8.131.52 Limited insurance coverage in some countries attracts patients to medical tourism destinations
184.108.40.206 Easier treatment accessibility for patients
3.2.2 Market restraint analysis
220.127.116.11 Fear of infectious diseases risks the demand for medical tourism
18.104.22.168 Lack of geographical and cultural proximity
3.3 Penetration & Growth Prospect Mapping
3.4 Business Environment Analysis tools
3.4.1 SWOT Analysis, by PEST
3.4.2 Porter's five forces analysis
3.5 Medical Tourism Market: Recent Trends & Advancements
3.6 Key Medical Tourism Hospitals in Thailand
3.7 Key Medical Tourism Hospitals in India
Chapter 4 Medical Tourism Market: Regulatory & Political Forces
Chapter 5 Medical Tourism Market: Regional Estimates & Trend Analysis
5.1 Medical Tourism Market Share by Region, 2018 & 2026
5.2.1 Thailand Medical Tourism market, 2015 - 2026 (USD Million)
5.2.2 Drivers, Challenges, Opportunity Analysis
5.2.3 Treatments/Procedures Analysis, 2018
5.2.4 Inbound Patient Traffic Analysis, 2015 - 2026
5.2.5 List of Hospitals
5.4 Costa Rica
5.12 South Korea
5.13 Czech Republic
Chapter 6 Competitive & Vendor Landscape
6.1 Recent developments & impact analysis, by key market participants
6.2 Company Profiles
- Bangkok Hospital
- Bumrungrad International Hospital
- Samitivej PCL
- Yanhee International Hospital
- Asian Heart Institute
- Apollo Hospitals Enterprise Ltd.
- Fortis Hospital
- Artemis Hospitals
- Hospital San Jos
- Mexicali Bariatric Center
- Sunway Medical Centre
- TMC Fertility
For more information about this report visit https://www.researchandmarkets.com/research/f59vm7/global_179_6_bn?w=5
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