The global medical tourism market size is expected to reach
USD 207.9 billion by 2027, expanding at a CAGR of 21.1%, according to a new
report by Grand View Research, Inc. Medical tourism generates direct foreign
exchange income and contributes to the overall development of any economy. It
provides employment and business opportunities for residents. Moreover, it
helps in the growth of associated businesses such as pharmaceuticals,
healthcare devices, and tourism. Government support to maintain the general
reputation and political stability of the host country is a key influencing
factor that drives the market.
Government authorities are willing to invest
in local enterprises to capitalize on the growth of the market. Such government
bodies are authorizing projects that help in the overall development of
infrastructure in the country such as the public transport system and water
supply facilities to attract high-end travelers.
Medical tourism has led to a rise in
state-of-the-art healthcare facilities in developing countries to attract
foreign nationals, resulting in fast growth of healthcare infrastructure in
such countries. Moreover, healthcare providers now offer comprehensive tourism
packages that include services ranging from ticket booking to hotel stay and
healthcare insurance.
For full research report on Medical
Tourism Market visit here: https://www.grandviewresearch.com/industry-analysis/medical-tourism-market
Further key
findings from the report suggest:
- Thailand dominated the market in terms of
revenue in 2019 pertaining to the huge difference in treatment cost in
comparison to developed countries. Around 2.8 million people visited
Thailand to seek medical care in 2018 owing to low cost and good quality healthcare
services
- In 2016, Thailand ranked 18th in the
International Healthcare Research Center’s Medical Tourism Index.
Moreover, the country ranked 13th on the same index in terms of quality of
facilities and services provided owing to well-developed healthcare
infrastructure and an increasing number of healthcare professionals
- In Thailand, Asia’s first largest private
hospital, Bumrungrad International Hospital, is also the first hospital to
receive JCI accreditation and ISO 9001 certification. Till date, over 53
private hospitals have received JCI accreditation
- Singapore, Colombia, Taiwan, and Spain are
some of the fastest growing medical tourism destinations in medical
tourism market. Medical tourism is one of the important factors for
revenue generation for these countries. They have an advanced healthcare
infrastructure and skilled manpower to cater to international patients
- Thailand is popular for cosmetic procedures
and India is most preferred for cardiovascular and orthopedic procedures.
Brazil and Costa Rica are preferred for dental procedures.
Get request sample of this report here : https://www.grandviewresearch.com/industry-analysis/medical-tourism-market/request/rs1
Grand
View Research has segmented the global medical tourism market based on
countries:
Medical
Tourism Country Outlook (Revenue, USD Million, 2016 - 2027)
- Thailand
- India
- Costa Rica
- Mexico
- Malaysia
- Singapore
- Brazil
- Colombia
- Turkey
- Taiwan
- South Korea
- Czech Republic
- Spain
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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