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Medical tourism market will exceed $143 million by 2025, says study By the A.M. Costa Rica wire services Market Research Allied Analysis says that the global medical tourism market was valued at $53,768 million in 2017, and is estimated to reach $143 million by 2025, registering an increase of 12.9 percent from 2018 to 2025. Medical tourism is an organized travel across international borders to obtain medical treatment of some form, which may or may not be available in the travelers’ home country. Tourists travel abroad for the maintenance, enhancement, or restoration of their health through affordable healthcare facilities & treatments available in other countries, which are comparatively expensive in their own country. Travelers receive dental treatment, neurological treatment, cardiovascular treatment, and others. The cosmetic treatment segment was the largest in 2017, holding over two-fifths of the total market. The segment is expected to continue its dominance throughout the forecast period. This is due to inclination toward cost-effective procedures that compels people to travel to places where inexpensive procedures are performed. Cancer treatment would grow at the highest rate (15.7 percent from 2018 to 2025), owing to rise in prevalence of cancer around the world and the lower cost of advanced treatment options in various countries. The report also discusses dental treatment, cardiovascular treatment, orthopedic treatment, neurological treatment, fertility treatment, and others. North America countries grabbed nearly one-third of the market share in 2017 and is expected to maintain its dominance throughout the forecast period. This is because of availability of advanced specialized treatments for neurological, cancer, and cardiovascular ailments along with recent joint commission international accreditations in the region, which is considered as the gold standard in the global health care given to hospitals. However, the market in Asia-Pacific may witness the fastest increase of 8.1 percent from 2018 to 2025, owing to inexpensive treatment, tourism friendly nature of the countries, and less stringent regulations associated with cosmetic procedures. The report also considers countries such as Europe and Latin America, Middle East, and Africa. A sample of this report can be requested at alliedmarketresearch.com* ------------------------------ Are medical treatments more or less expensive in Costa Rica than your country? We would like to know your thoughts on this story. Send your comments to: news@amcostarica.com |
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