Albany, NY, May 17, 2016 (GLOBE NEWSWIRE) -- Medical tourism is also defined as the travel of patients from their home country to different destinations for the purpose of medical treatment. These services could be sophisticated treatments such as cardiac surgery, orthopedics, neurosurgery, dental care or elective treatments such as cosmetic surgeries or even routine health check-ups.
The global medical tourism market was valued at USD 10.5 billion in 2012 and is expected to grow at a CAGR of 17.9 % from 2013 to 2019 to reach an estimated value of USD 32.5 billion in 2019.
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The research report on the global medical tourism market helps in understanding the prominent forces responsible for the growth of this industry. In addition, the current market dynamics including drivers, restraints, trends, and developments are covered throughout the report. The research report provides in-depth analysis of the geographies facilitating inbound medical services that include India, Thailand, Singapore, Malaysia, Mexico, Brazil, Turkey, Taiwan, South Korea and prospective countries. Market size estimates and forecast for the period 2011 to 2019 has been given for each of the countries, in terms of USD million, using 2012 as a base year. The market overview section of the report comprises qualitative analysis of the overall market considering the factors determining the market dynamics such as drivers, restraints and opportunities along with Porter’s five forces analysis. These different analyses would provide a thorough understanding about the market from its past, present and future perspectives and help market players to design effective business strategies.
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Geographic proximity and cultural similarities are also driving growth of this industry. Brazil and Mexico primarily witness patients from the U.S due to geographic proximity. Moreover, cost-effective treatments coupled with rise in baby boomer population are further propelling growth of this market. In addition, growth in Turkey is seen due to increase in demand for cosmetic surgeries.
However, medical tourism industry is still maturing and requires a lot of coordination among the government, insurers and healthcare providers. Currently, medical tourism industry is mainly captured by the private sector. Further, greater involvement of government agencies could improve the competitive advantage of one country over other countries.
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Medical tourism report also provides profiles of major hospitals that provide medical treatment to foreign patients. Some of the significant players in this market include Apollo Hospitals Enterprise Ltd., Bumrungrad International Hospital, Asian Heart Institute and others. These market players are profiled on the basis of various attributes such as company overview, recent developments, financial overview and strategies adopted by them to flourish in the market.
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