Market Research Reports Search Engine (MRRSE) has recently announced the addition of a new study on the global medical tourism market. The research report, published by Transparency Market Research (TMR), estimates this market to register a remarkable CAGR of 17.90% during the period of 2013-2019.
The market study, titled “Medical Tourism Market (India, Thailand, Singapore, Malaysia, Mexico, Brazil, Taiwan, Turkey, South Korea, Costa Rica, Poland, Dubai and Philippines) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” states that the worldwide market for medical tourism is likely to increase from a value of US$10.5 bn in 2012 to a value US$32.5 bn by the end of the forecast period.
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India, Thailand, Turkey, Mexico, Malaysia, Taiwan, Brazil, South Korea, and Singapore are leading the global medical tourism market on account of the availability of medical treatments at low costs in these countries compared to that of the western nations. Alongside, Dubai, Costa Rica, Philippines, and Poland are also projected to exhibit substantial growth in medical tourism over the forecast period, states the research report.
According to the market study, the technological advancements in the field of medical and healthcare have widened the range of treatments available in these economies, and thus, have boosted the global medical tourism market significantly. Among the Western European medical tourists, Thailand has become a popular destination for cosmetic surgeries. The country received almost 2.5 mn patients in 2012, which was around 45% of the total number of foreign tourists that had arrived in Asia for medical treatments.
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Analysts, however, project Malaysia to lead the global medical tourism market over the forthcoming years. In 2012, approximately 0.7 mn patients got medical assistance in this country. By the end of 2019, around 2 mn patients are likely to visit the Malaysia for medical treatment, notes the market study.
Further, the research report states that, for complex surgeries, India and Singapore are emerging as the most popular destinations among medical tourists. The increasing popularity of India for efficient cardiac treatments has been attracting a huge number of patients from all over the world.
Some of the major participants operating in the worldwide medical tourism market, mentioned in this research report, are Prince Court Medical Center, Min-Sheng General Hospital, KPJ Healthcare Berhad, Bumrungrad International Hospital, Asian Heart Institute, Bangkok Hospital Medical Center, Apollo Hospitals Enterprise Ltd., Fortis Healthcare Ltd., Raffles Medical Group, and Samitivej Sukhumvit.
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Last updated on: 23/09/2016
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