Medical Tourism Market Growing at a CAGR of 14.9% By 2025
Medical tourism is also defined as the travel of patients from their home country to different destinations for the purpose of medical treatment. These medical services could be sophisticated treatments such as Cosmetology, Dentistry, Cardiology, Orthopedic surgery, Neurology, Oncology or even routine health check-ups. The medical tourism industry is emerging due to rise in healthcare expenditure in developed countries coupled with the availability of cost effective treatments in developing countries. The high cost of treatment in developed countries is seen as a prime reason for the migration of patients to other destinations.
Medical tourism is also defined as the travel of patients from their home country to different destinations for the purpose of medical treatment. These medical services could be sophisticated treatments such as Cosmetology, Dentistry, Cardiology, Orthopedic surgery, Neurology, Oncology or even routine health check-ups. The medical tourism industry is emerging due to rise in healthcare expenditure in developed countries coupled with the availability of cost effective treatments in developing countries. The high cost of treatment in developed countries is seen as a prime reason for the migration of patients to other destinations.
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Global <strong>Medical</strong> <strong>Tourism</strong> <strong>Market</strong>: P<strong>at</strong>ients and Families to Seek <strong>Medical</strong> Care in Emerging<br />
N<strong>at</strong>ions as Healthcare Costs Soar in Developed Countries, says TMR<br />
According to TMR, the global medical tourism market, which stood <strong>at</strong> US$46.46 bn in 2016, is<br />
likely to reach US$160.8 bn by the end <strong>of</strong> <strong>2025</strong>. Given the scenario, the global medical tourism<br />
market will exhibit a <strong>CAGR</strong> <strong>of</strong> <strong>14.9%</strong> between 2017 and <strong>2025</strong>. Regionally, Asia Pacific held the<br />
lead in the global medical tourism market in 2016. Singapore and India are likely to emerge as<br />
popular destin<strong>at</strong>ions for medical tourism in Asia Pacific. Based on tre<strong>at</strong>ment, the global medical<br />
tourism market was led by the orthopedics segment in 2016.<br />
Report overview @ https://www.transparencymarketresearch.com/medical-tourism.html<br />
The global <strong>Medical</strong> <strong>Tourism</strong> <strong>Market</strong> is segmented on the basis <strong>of</strong> <strong>Medical</strong> Tre<strong>at</strong>ment,Geography.<br />
The global medical tourism market can be segmented on the basis <strong>of</strong> medical tre<strong>at</strong>ment and region.<br />
On the bases <strong>of</strong> medical tre<strong>at</strong>ment, medical tourism market can be further segmented into<br />
Cosmetology, Dentistry, Cardiology, Orthopedic surgery, Neurology, Oncology and Others.<br />
Orthopedics is a branch <strong>of</strong> medicine which deals with conditions concerning bones and muscles. It<br />
majorly involves the surgical procedures for correcting the musculoskeletal system. Cosmetology is<br />
a branch <strong>of</strong> medicine which deals with the tre<strong>at</strong>ment options concerning skin, wrinkles, skin<br />
color<strong>at</strong>ion, unwanted hair, plastic surgery, rhinoplasty and overall external appearance. A branch <strong>of</strong><br />
medicine th<strong>at</strong> is concern with the study, diagnosis, prevention and tre<strong>at</strong>ment <strong>of</strong> disorders and<br />
conditions rel<strong>at</strong>ed to oral cavity called Dentistry. In term <strong>of</strong> revenue, Orthopedics segment held a<br />
significant share <strong>of</strong> the medical tourism market in 2016. Increasing annual incidence <strong>of</strong> sport and<br />
accident injury drive this segment. Approxim<strong>at</strong>ely 427,181 procedure were performed in Unites<br />
St<strong>at</strong>e through 3,170 surgeons in 2016. The growth <strong>of</strong> the cardiology segment is <strong>at</strong>tributed with<br />
increasing number <strong>of</strong> people travelling for cardiac surgery in Asia Pacific specially in India,<br />
Singapore due to advanced tre<strong>at</strong>ment availability <strong>at</strong> low cost.<br />
Geographically, the global medical tourism market is segmented into five regions: North America,<br />
Europe, Asia Pacific, L<strong>at</strong>in America and Middle East & Africa. These regions have been further<br />
segmented by countries and medical tre<strong>at</strong>ment. Asia Pacific domin<strong>at</strong>ed the market and is anticip<strong>at</strong>ed<br />
to gain more market share by the end <strong>of</strong> <strong>2025</strong>. The market in Europe is expanding rapidly, due to<br />
increase in the number <strong>of</strong> medical travel p<strong>at</strong>ient, especially in UK, Germany, Italy and France,<br />
Moreover, the market in L<strong>at</strong>in America and Middle East & Africa projected to expand significantly<br />
in the near future due to high medical tre<strong>at</strong>ment cost in United St<strong>at</strong>e and Europe region. Turkey and<br />
Mexico are accounted in top ten destin<strong>at</strong>ion for medical tourism market in term <strong>of</strong> revenue.<br />
Increasing healthcare infrastructure and intern<strong>at</strong>ional medical stranded drive the medical tourism<br />
market in this region with significant growth. The competition m<strong>at</strong>rix section included in the report<br />
is likely to assist the existing players to increase their market shares and new hospitals to establish<br />
their presence in medical tourism market.<br />
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Summary <strong>of</strong> Table <strong>of</strong> Content<br />
1. Preface<br />
2. Research Approach & Methodology<br />
3. Executive Summary<br />
4. <strong>Market</strong> Definition<br />
5. Global <strong>Medical</strong> <strong>Tourism</strong> <strong>Market</strong> Analysis, by <strong>Medical</strong> Tre<strong>at</strong>ment
6. Global <strong>Medical</strong> <strong>Tourism</strong> <strong>Market</strong> Analysis, by Region<br />
7. North America <strong>Medical</strong> <strong>Tourism</strong> <strong>Market</strong> Analysis, by <strong>Medical</strong> Tre<strong>at</strong>ment<br />
8. Europe <strong>Medical</strong> <strong>Tourism</strong> <strong>Market</strong> Analysis, by <strong>Medical</strong> Tre<strong>at</strong>ment<br />
9. Asia Pacific <strong>Medical</strong> <strong>Tourism</strong> <strong>Market</strong> Analysis, by <strong>Medical</strong> Tre<strong>at</strong>ment<br />
10. L<strong>at</strong>in America <strong>Medical</strong> <strong>Tourism</strong> <strong>Market</strong> Analysis, by <strong>Medical</strong> Tre<strong>at</strong>ment<br />
11. Middle East and Africa <strong>Medical</strong> <strong>Tourism</strong> <strong>Market</strong> Analysis, by <strong>Medical</strong> Tre<strong>at</strong>ment<br />
12. Competition Landscape<br />
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