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Global Medical Tourism Market forecast 2022

Wednesday, March 1, 2017 1:39
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(Before It's News)

Global Medical Tourism Market is accounted for $17.1 billion in 2015 and is poised to reach $57.2 billion by 2022 growing at a CAGR of 18.8% during the forecast period. Affordable good quality care, presence of advanced medical technologies and better pricing for cosmetic surgeries are likely to fuel the market for medical tourism. However, Limited coverage, false medical practices and lengthy partial reimbursement by payers are hindering the market growth.

Asia-Pacific is expected to grow at the highest CAGR during the forecast period. India, Singapore and Thailand countries attract the majority medical tourists driven by the better quality care available at reasonable prices and within least waiting time. Mexico is the top medical tourism destination and hosts the largest number of medical tourists in the world, especially North and Latin Americans, due to quality treatment with efficient cost. India creates awareness to a large number of medical tourists due to its specialization in the field of cardiac surgeries. The Malaysian management has taken up various proposals to develop the medical service in the country in order to expand the market.

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Some of the key players in the market include Fortis Hospital, Gleneagles Hospital, Asklepios Klinik Barmbek, Wooridul Spine Hospital, Prince Court Medical centre, Anadolu Medical Centre, Clemenceau Medical centre, Raffles Medical Group, Bumrungrad International Hospital, Bangkok Hospital Medical Center, Asian Heart Institute, KPJ Healthcare Berhad, Samitivej Sukhumvit, Apollo Hospitals Enterprise Limited and Min-Sheng General Hospital.

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