Medical tourism refers to patients travelling to foreign country to get medical treatment(s). People travel abroad for various medical treatments so they can avail quality healthcare at affordable rates than they would get in their own country. Sometimes patients also travel to a different city or state within their own country. This is referred to as domestic medical tourism.
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The key advantages of medical tourism are:
- Cost-effectiveness and affordability
Low priced medical treatments, due to cheap labor, is the main reason why patients opt for medical tourism. Although the treatments are cost-effective, they are performed by experts who use the latest technologies and products.
- Improved flight and communication service
Many treatments can be scheduled online, giving patients the flexibility to book flights accordingly. This can eliminate patient inconvenience in many ways.
- Personalized high quality healthcare
Most of the surgeons and doctors that perform treatments are trained in Western countries like UK and US.
Medical tourism can help patients to find a wide range of surgeries or similar treatments such as orthopedic, cardiovascular, dental, cosmetic, and fertility treatments among many others.
Cardiovascular Treatment: The Largest Segment
Among all the treatment types, cardiovascular treatments have the highest demand on account of growing occurrence of cardiovascular diseases (CVDs). Rising cases of heart diseases, obesity, hypertension, and other ailments cause various types of CVDs. In addition, high number of angiography and atrial fibrillation cases are also likely to propel the segment demand.
Growing number of electrophysiology centers and cath-labs specialized hospitals along with rapid adoption of robot-assisted surgical platform are also likely to have a positive impact on the swift development of the segment. Furthermore, factors such as rising adoption of innovative products and advanced technologies are also contributing factors for the growth of cardiovascular treatment segment.
Market Insights
A report made available by Radiant Insights, Inc. suggests that the global medical tourism market would witness a CAGR of 12.55% over the forecast period (2017 to 2021). Growing cases of chronic diseases such as high blood pressure, cancer, and cardiac diseases (CVDs) are the key market drivers. Government/private hospitals and other healthcare organizations across the globe have started focusing on boosting their regional share in medical tourism. This may bode well for the global market in the forthcoming years. To put this in perspective, Mexico is becoming a popular medical tourism destination due to the availability of unconventional cancer treatments that are either expensive in other regions or are not approved. Another reason for the region’s popularity is the availability of affordable or alternative treatments for many severe diseases.
Apollo Hospitals Enterprise Ltd.; Asklepios Kliniken Verwaltungsgesellschaft mbH; Bumrungrad International Hospital; Fortis Healthcare Ltd.; and Bangkok Hospital are some of the prominent organizations in the market.
Medical tourism can help patients to find a wide range of surgeries or similar treatments such as orthopedic, cardiovascular, dental, cosmetic, and fertility treatments among many others.
Cardiovascular Treatment: The Largest Segment
Among all the treatment types, cardiovascular treatments have the highest demand on account of growing occurrence of cardiovascular diseases (CVDs). Rising cases of heart diseases, obesity, hypertension, and other ailments cause various types of CVDs. In addition, high number of angiography and atrial fibrillation cases are also likely to propel the segment demand.
Growing number of electrophysiology centers and cath-labs specialized hospitals along with rapid adoption of robot-assisted surgical platform are also likely to have a positive impact on the swift development of the segment. Furthermore, factors such as rising adoption of innovative products and advanced technologies are also contributing factors for the growth of cardiovascular treatment segment.
Market Insights
A report made available by Radiant Insights, Inc. suggests that the global medical tourism market would witness a CAGR of 12.55% over the forecast period (2017 to 2021). Growing cases of chronic diseases such as high blood pressure, cancer, and cardiac diseases (CVDs) are the key market drivers. Government/private hospitals and other healthcare organizations across the globe have started focusing on boosting their regional share in medical tourism. This may bode well for the global market in the forthcoming years. To put this in perspective, Mexico is becoming a popular medical tourism destination due to the availability of unconventional cancer treatments that are either expensive in other regions or are not approved. Another reason for the region’s popularity is the availability of affordable or alternative treatments for many severe diseases.
Apollo Hospitals Enterprise Ltd.; Asklepios Kliniken Verwaltungsgesellschaft mbH; Bumrungrad International Hospital; Fortis Healthcare Ltd.; and Bangkok Hospital are some of the prominent organizations in the market.
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