Medical Tourism market: Market Challenges, Drivers & Trends

Medical Tourism market: Market Challenges, Drivers & Trends - Key

(I-TravelNewswire.Com, February 15, 2018 ) The report "Medical Tourism Market by Treatment Type (Orthopaedic Treatment, Neurological Treatment, Cardiovascular Treatment, Fertility Treatment, Cancer Treatment, Cosmetic Treatment, Dental Treatment and Others) - Forecast to 2021", The Medical Tourism market is expected to reach USD 46.6 Billion by 2021 from an estimated USD 19.7 Billion in 2016, at a CAGR of 18.8%. The key factors such as high treatment costs and long waiting time’s circumstances for medical procedures, advancements in technology, and development of market are the driving the global market.

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By type of treatment, the cosmetic segment accounted for the largest share of the market in 2016

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On the basis of type of treatment, the Medical Tourism market has been segmented into Orthopaedic Treatment, Cardiovascular Treatment, Dental Treatment Fertility Treatment, Cosmetic Treatment, Neurological Treatment, Cancer Treatment, and Others. In 2016, the cosmetic segment is expected to account for the largest share of the global Medical Tourism market, because cosmetic is not covered under insurance.

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North America accounted for the largest share of the Medical Tourism market in 2016, followed by Europe. The large share of the Medical Tourism market in North America can be attributed to the growth in technology, growing disposable incomes, and the rising incidence of cancers. Europe holds the second major market for Medical Tourism owing to acceptance of advanced technology in biotechnology and research sector and innovation technologies.

The various players in the Medical Tourism market include Min-Sheng General Hospital, Apollo Hospitals Enterprise Limited, Samitivej Sukhumvit, Fortis Healthcare Ltd., Asian Heart Institute, Prince Court Medical Center, Bangkok Hospital Medical Center, KPJ Healthcare Berhad, Raffles Medical Group, and Bumrungrad International Hospital.

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