Medical Tourism: A Booming Industry Offering Affordable Healthcare Alternatives
The medical tourism
market is expected to see a healthy growth of 10% over the next six years
(2021-2027). This surge is fueled by a confluence of factors, including:
·
Economic: Tightened
eligibility criteria, waiting lists, and shifting healthcare
priorities in some countries push individuals to seek affordable alternatives
abroad.
·
Social: Familiarity
with certain destinations, cultural connections, and the desire for a
combined vacation-and-treatment experience attract patients.
·
Technological: Advanced
procedures and treatment options available in specialized medical tourism hubs
entice patients seeking cutting-edge care.
·
Bioethical
considerations: International travel allows access to services restricted in
some countries, like abortion, fertility treatments, and
euthanasia.
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Insights: Receive a Sample Research Report on the Medical
Tourism Market:
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Cost Savings are a Major Draw:
·
Panama: Medical services cost 40-70% less compared to the US
or Canada.
·
Hungary: Save 40-50% on dentistry and cosmetic surgeries.
·
Mexico: A popular choice for Americans, offering 25-35%
savings. Nine hospitals boast Joint Commission International
accreditation.
·
India: Healthcare services 20% cheaper than the US.
·
Thailand: Enjoy 30% lower costs than in North
America. Singapore, with 13 Joint Commission International-accredited
hospitals, offers 35% cost savings compared to North America.
Key Players in the Landscape:
Major players like Apollo Hospitals, Fortis
Healthcare, Asian Heart Institute, Kpj Healthcare Berhad, and NTT Medical
Center Tokyo cater to the growing demand. Mergers and acquisitions, along with
partnerships, ensure patients have access to the latest advancements and
technologies.
Explore the Comprehensive Research Overview, Including a Table of
Contents, on the Medical
Tourism Market: https://univdatos.com/report/medical-tourism-market/
Treatment Trends:
·
Cancer
treatment: Currently dominates the market, but fertility treatment
is expected to see the highest growth due to its increasing affordability in
regions like the Middle East.
·
Orthopedic
treatment: A popular choice due to its high success rates and
cost-effectiveness.
·
Cardiovascular
treatment: Advanced procedures at competitive prices attract patients
worldwide.
Regional Landscape:
·
Asia-Pacific: The
largest market due to the availability of skilled professionals and lower
treatment costs. Patients can save 30-80% compared to Western
countries. For example, heart surgery in India costs around $7,000
compared to $30,000 in the US.
·
Europe: Popular for its expertise in specific treatments and
its proximity to patients in countries with limited healthcare options.
·
North
America: While not a major destination, some Americans seek
specialized treatments or alternative therapies abroad.
The Future of Medical Tourism:
As healthcare costs continue to rise in many
countries, medical
tourism is expected to play an increasingly important role in providing
affordable, high-quality care. With advancements in technology and travel
becoming more accessible, this industry is poised for continued growth and
diversification.
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