Pune, India -- (SBWire) -- 08/23/2018 --Summary:
Latest Research Report on Global Medical Tourism Market Added by Garner Insights which covers Market Overview, Future Economic Impact, Competition by Manufacturers, Supply (Production), & Consumption Analysis
The Medical Tourism Market research study relies upon a combination of primary as well as secondary research. Asia medical tourism market is anticipated to cross US$ 14 Billion mark by 2022. Asia continues to be the top medical destination in medical travel. Asian medical destinations continue to offer more and better medical procedures and care than most other medical destinations. Several hospitals in Asia have carved such outstanding reputations for themselves that medical tourism has become a major money-spinner. In countries such as Singapore and Thailand, government agencies have been set up to help market their expertise globally. The Indian government has removed many visa restrictions and introduced a visa-on-arrival scheme for medical tourists from selected countries; this allows foreign nationals to stay in India for 30 days for medical reasons and can even get a visa of up to 1 year depending upon treatment requirements. Special medical travel agencies have sprung up around the world, and top Asian hospitals routinely have special "international" desks and services to assist overseas patients with everything from doctors' appointments to accommodation.
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Key players
The report also profiles some of the major players functioning in the Global Medical Tourism Market, on the basis of various factors such as the company overview, revenue, product offering (s), key development (s), business strategies, Porter's five forces analysis, and SWOT analysis. Some of the major players profiled in this report include Fortis Healthcare Ltd., Apollo Hospitals Enterprise Limited, Asian Heart Institute and Research Centre Private Limited, KPJ Healthcare Berhad, NTT Medical Center Tokyo, Seoul National University Hospital, Infectious Diseases Partners Pte. Ltd., Aditya Birla Memorial Hospital, Barbados Fertility Centre, Prince Court Medical Centre, and Samitivej Public Company Limited.
Market Scenario:
Medical tourism involves travelling out of one's nation to seek medical services. Availability of cost effective medical treatment and highly professional doctors in developing countries are gathering attention to carry out medical treatment in these countries. Rising health related expenditure and proved medical treatment benefit of medical tourism is propels the growth of the market. Increasing government support for medical tourism industry is an add-on benefit to the market. Rising aging population, lack of access to quality healthcare services, increasing healthcare cost, long wait times to seek medical treatment and ease of travel are driving the growth of the medical tourism market. International accreditation and medical excellence are fuelling the growth of the market. Rapidly increasing private hospital and quality of services they offers in developing economies of Asia Pacific region are boost the market. Aggressive advertising and marketing of medical facilities are supports the medical tourism market. Poor post operative care and risk of wide variety of healthy issue after patient return are some of the major challenge to the market. Stringent documentation processes, limited insurance coverage and problems related visa approval are restraining the growth of the medical tourism market.
Medical Tourism Market Segmentation
The Medical Tourism market is segmented based on Application & product type. The global medical tourism market is segmented on the basis of treatment type. On the basis of treatment type, the market is segmented into cardiovascular treatment, orthopedic treatment, neurological treatment, cancer treatment, fertility treatment, dental treatment, cosmetic treatment and others.
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The Global Medical Tourism Market Is Forecasted to Grow at a CAGR of 14.9% During the Period 2018-2023