Medical tourism can be well-defined as an organized travel around the international borders to advantage medical treatment of some form, which may or may not be prevalent in the travelers’ home country. Medical tourists travel around the international borders for the maintenance, improvements, or restoration of their health through economical healthcare facilities & treatments obtainable in other countries, which are comparatively luxurious in their own country. Medical tourists travel to obtain the medical treatments such as dental treatment, neurological treatment, and cardiovascular treatment.
According to the report analysis, ‘Medical Tourism Market’ states that the global medical tourism market observed a flat growth in the past few years but sustained owing to high cost of medical treatment in developed countries such as US and UK in fact, most of the outbound medical tourists are from North America and Europe.
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The industry precise parameters that are propelling the global medical tourism market are primarily the growing healthcare related costs in the patient’s country of origin, lack of insurance and healthcare coverages, inferior cost of medical treatment in destination countries, accessibility of highly trained, skilled, and competent specialists in the countries providing services, and growing costs of long-term care in developed regions. With respect to mega trends or macro factors propelling the growth of the global medical tourism market are the populace growth, urbanization, and easy admittance to prominent medical tourism destinations.
Though more assistance from government agencies and organizations and strategic marketing initiatives are required to augment the medical tourism in the underdeveloped countries. Industry partnerships with the international medical travel agents, logistic suppliers, hotels, and hospitals have facilitated in proposing the packaged facilities. For example, Apollo has collaborated with the American International Medical University (AIMU) for emerging medical tourism schedules in the regions such as Bahamas and St Lucia.
While looking for a favourable medical destination most of the medical tourists virtually visit countless JCI-accredited hospitals delivering the amenities and exceptional atmosphere for treatment and healing duration after a lengthy period of continuing surgical procedures. The growth of the elderly population is also one of the foremost factors propelling the medical tourism market because of the requirement of high-quality long-term care. The increasing lifestyle-related disorders and incidence of cancers are growing rapidly around the globe, with high treatment costs cancer treatment is also propelling the growth of medical tourism around the globe.
A large population of foreigners seeks surgeries such as facial aesthetics processes, dental implants, breast implants, facelifts, and liposuction in these regions. Advancements in healthcare infrastructure and the obtainability of high-quality healthcare services at reasonable prices will propel the international market growth.
Affordability and convenience of high-quality healthcare services and assistance from tourism departments and local governments are the foremost factors that propel the growth of the global medical tourism market. In addition, obtainability of latest medical technologies in medical tourism hubs, throughout the globe, is predicted to propel the market growth.
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Medical Tourism Market by Treatment Type (Cancer Treatment, Orthopedic Treatment, Fertility Treatment, Cardiovascular Treatment, Neurological Treatment, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024
Ankur Gupta, Head Marketing & Communications