November 25, 2019
According to the recent study titled ‘Global Medical Tourism Market: Analysis by Segment (Cardiology, Cosmetic, Dental, Ophthalmology, Orthopedics), By Country (2018 Edition), By Country: World Market Review and Forecast to 2023 - By Country (U.S., Mexico, Costa Rica, Germany, UK, Czech Republic, Brazil, Turkey, UAE, South Korea, Thailand, Malaysia, Singapore, India)’ available with Market Study Report LLC, the global medical tourism market is estimated to grow with a CAGR of 1.65% through the year 2023.
People traveling abroad to obtain medical treatment is referred as medical tourism. Better quality of care coupled with economical treatment are the primary factors driving the growth of medical tourism market. Moreover, advancements in technology and medicine, better healthcare, new devices, enhanced hospitality, and personalized care will continue to augment the industry trends.
The study encompasses details about revenue shares for each segment, alongside the expansion strategies adopted by manufacturers. Thorough insight regional product outlook, alongside the advantages and drawbacks associated with different region is also offered in the report.
Based on type, medical tourism market is segmented into orthopedics, cardiology, cosmetic, ophthalmology, and dental. Medical tourism market from cardiology segment is presumed to expand momentously over the analysis period, on account of surging prevalence of cardiovascular disorders coupled with adoption of medical tourism for the treatment of these disorders.
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Considering the geographical landscape, the global medical tourism market is fragmented into regions, namely, North America, Europe, APAC, and Latin America, with key focus on countries like Mexico, U.S., Germany, Costa Rica, Czech Republic, UK, Turkey, Brazil, South Korea, UAE, Thailand, Singapore, Malaysia, and India.
As per the report, North America medical tourism market registered the largest regional share in 2018, owing to advanced healthcare infrastructure, well-trained medical professionals as well as wide number of hospitals under insurance coverage.
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