Medical tourism: High international growth rates from this year until 2030
Ktimatoemporiki Real Estate - 2021-03-10
Medical tourism: High international growth rates from this year until 2030
As per a recent study by FMI, the medical tourism market is poised to expand at an impressive CAGR of 12.3% through 2030. Although healthcare efforts remained centered on managing the COVID-19 outbreak, retreating growth projections to some level for 2020, with the condition stabilizing, treatment of chronic ailments and life-threatening diseases will be on track from 2021 onwards.
“Medical tourism is likely to steadily rise due to launch of several e-campaigns by non-government and government organizations and government aids. Efforts taken for the growth of the healthcare infrastructure are likely to thus offer a conducive environment for medical tourism market expansion.” says the FMI analyst.
The U.S. will remain lucrative as medical facilities in the U.S. are counted best-in-class and highly advanced.
Cancer treatment type holds the majority of market share among others in the global market.
The wellness service type is projected to get notably higher demand throughout the forecast period.
Individuals aged between 66-75 years and 46-55 years travel more often to seek medical care.
In-person booking will remain preferred amid medical tourists, however, online booking for medical tourism will surge in approaching years.
Medical Tourism Market - Drivers
Rising healthcare costs in the West and growing incidences of chronic diseases are driving the market.
Growing demand for several cosmetic processes is ensuing in mounting medical tourism.
Accessibility of economical treatment options abroad without conceding on the overall quality and standard of healthcare services drives medical tourism in the East.
Several non-government and government machinery are contributing to campaigns to promote medical tourism.
Medical Tourism Market - Restraints
Factors such as partial & lengthy reimbursement by payers difficulties associated with travel, and language barriers, these drawbacks often curtail growth prospects for the market
VISA approval issues and the availability of documentation, hinder the growth of the market.
COVID-19 Impact on Medical Tourism Market
While the unprecedented COVID-19 pandemic may have instigated notable disruptions, regaining is on card, due to swift response by governments across the world. Proactive measures taken by non-government and government organizations will allow the medical tourism market to move ahead despite losses sustained amid the outbreak.
Competitive Landscape
The medical tourism market is flourishing and healthcare facilities involved in the sector are keenly focus on capitalizing on prevailing prospects. A few are focusing on online campaigns while others are putting their efforts towards collaborations to attain a competitive edge.
A few of the prominent players in the medical tourism market include Christus Muguerza S.A.P.I De CV, Global Healthcare Connections, Inc., Shouldice Hospital, Fortis Healthcare Ltd, Asklepios Kliniken GmbH, Apollo Hospitals, Bumrungrad International Hospital, and Gleneagles Hospital.
As per a recent study by FMI, the medical tourism market is poised to expand at an impressive CAGR of 12.3% through 2030. Although healthcare efforts remained centered on managing the COVID-19 outbreak, retreating growth projections to some level for 2020, with the condition stabilizing, treatment of chronic ailments and life-threatening diseases will be on track from 2021 onwards.
“Medical tourism is likely to steadily rise due to launch of several e-campaigns by non-government and government organizations and government aids. Efforts taken for the growth of the healthcare infrastructure are likely to thus offer a conducive environment for medical tourism market expansion.” says the FMI analyst.
The U.S. will remain lucrative as medical facilities in the U.S. are counted best-in-class and highly advanced.
Cancer treatment type holds the majority of market share among others in the global market.
The wellness service type is projected to get notably higher demand throughout the forecast period.
Individuals aged between 66-75 years and 46-55 years travel more often to seek medical care.
In-person booking will remain preferred amid medical tourists, however, online booking for medical tourism will surge in approaching years.
Medical Tourism Market - Drivers
Rising healthcare costs in the West and growing incidences of chronic diseases are driving the market.
Growing demand for several cosmetic processes is ensuing in mounting medical tourism.
Accessibility of economical treatment options abroad without conceding on the overall quality and standard of healthcare services drives medical tourism in the East.
Several non-government and government machinery are contributing to campaigns to promote medical tourism.
Medical Tourism Market - Restraints
Factors such as partial & lengthy reimbursement by payers difficulties associated with travel, and language barriers, these drawbacks often curtail growth prospects for the market
VISA approval issues and the availability of documentation, hinder the growth of the market.
COVID-19 Impact on Medical Tourism Market
While the unprecedented COVID-19 pandemic may have instigated notable disruptions, regaining is on card, due to swift response by governments across the world. Proactive measures taken by non-government and government organizations will allow the medical tourism market to move ahead despite losses sustained amid the outbreak.
Competitive Landscape
The medical tourism market is flourishing and healthcare facilities involved in the sector are keenly focus on capitalizing on prevailing prospects. A few are focusing on online campaigns while others are putting their efforts towards collaborations to attain a competitive edge.
A few of the prominent players in the medical tourism market include Christus Muguerza S.A.P.I De CV, Global Healthcare Connections, Inc., Shouldice Hospital, Fortis Healthcare Ltd, Asklepios Kliniken GmbH, Apollo Hospitals, Bumrungrad International Hospital, and Gleneagles Hospital.
Greece Property News|Medical tourism: High international growth rates from this year until 2030
Source: tornosnews.gr
