The North America medical tourism market accounted for $20,279 million in 2016, and is estimated to reach $52,786 million by 2023, registering a CAGR of 14.4% from 2017 to 2023

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Dec 10, 2018, 20:02 ET

LONDON, Dec. 10, 2018 /PRNewswire/ -- North America Medical Tourism Market by Treatment Type (Cardiovascular Treatment, Orthopedic Treatment, Neurological Treatment, Cancer Treatment, Fertility Treatment, and Others): Opportunity Analysis and Industry Forecast, 2017 - 2023

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North America Medical Tourism Market Overview :

Medical tourism can be defined as an organized travel across international borders with the purpose of availing medical treatment of some form, which may or may not be available in the travelers' home country. The North America medical tourism market accounted for $20,279 million in 2016, and is estimated to reach $52,786 million by 2023, registering a CAGR of 14.4% from 2017 to 2023.

Medical tourists travel abroad for the maintenance, enhancement, or restoration of their health through affordable healthcare facilities & treatments available in other countries, which are comparatively expensive in their own country. It is also linked with leisure and business travel. Therefore, there are several definitions of medical tourism in the market. Some of them include cosmetic, dental, wellness, and spa services. However, for the purpose of this report, wellness, spa, cosmetic, and dental treatment are excluded from the scope of this study.

Geographical convenience of Mexico for Mexico-bound health travelers who reside in South, North & Central America, and the Caribbean drive the market. In addition, recent Joint Commission International (JCI) accreditations in Mexico, government involvement for the growth of medical tourism in Mexico, lower costs in Mexico, and technological advancements in healthcare facilities in North America further augment market growth. However, difficulties associated with travel, language barriers, documentation, and VISA approval issues, and lack of medical training and non-acceptance of healthcare insurances in Mexico restrict the market growth. Furthermore, rise in geriatric population due to baby boomers in North America, and increase in R&D activities in the field of healthcare provide lucrative opportunities to the market players.

The North America medical tourism market is segmented based treatment type and country. By treatment type, the market is divided into cardiovascular treatment, orthopedic treatment, neurological treatment, cancer treatment, fertility treatment, and other treatments. By country, the market is analyzed across U.S., Canada, and Mexico.

Key Benefits For North America Medical Tourism Market :

The study provides an in-depth analysis of the market along with current trends and future estimations to elucidate the imminent investment pockets.

The report provides a quantitative analysis for the period of 2016–2023 to enable stakeholders to capitalize on the prevailing market opportunities.

Extensive analysis of the market based on treatment type helps to understand the popular treatments for medical tourism.

North America Medical Tourism Key Market Segments :

By Treatment Type
Cardiovascular Treatment

Orthopedic Treatment

Neurological Treatment

Cancer Treatment

Fertility Treatment

Others

By Country
U.S.

Canada

Mexico

KEY PLAYERS PROFILED IN THE REPORT
Angeles en Línea

Centro Médico ABC

Galenia Hospital

Hospital San José

Médica Sur

SA de CV

Star Médica

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