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Published on : Thursday, October 20, 2016
The global medical tourism market is driven by some of the key companies such as Apollo Hospitals (India), Prince Court Medical Center and Bumrungrad International Hospital (Thailand). These companies are focusing on areas like neurosurgery, cardiac surgery, dental care, cosmetic surgeries and orthopedics. The medical tourism market globally has grown at a rapid rate over the last few years due to increasing medical infrastructure and availability of medical devices. Globalization of health care services has pushed forward the global medical tourism market and changing trends in this sector have made people avail of affordable medical services.
The global medical tourism market is estimated to reach US$32.5 billion by 2019. India holds a promising future in medical tourism and this trend is anticipated to continue in the future. Asian countries like India, Malaysia, Thailand and Singapore are most sought after for healthcare services and medical tourism.
The rising aging population is a blessing for the global medical tourism market. People are facing age-related health issues, and hence, demand for quality and affordable healthcare and treatment is increasing. Factors contributing to boost in medical tourism demand are reduced cost of procedures, large uninsured population, rising tourism industry and wide treatment options. Due to improved healthcare infrastructure, aged folks are now able to avail of medical services while on tour. Although medical tourism has a global demand and is increasing at fast pace, follow-up care seems to be the biggest challenge for key companies in medical tourism. Post-treatment complications are major problem for patients and local healthcare service providers often find it problematic to solve medical cases performed by unknown medical professionals in various tourist locations.
Governments of various countries are funding medical tourism by investing in research and development of new drugs. Favorable government policies are also simplifying medical tourism.
Tags: medical tourism