Global Medical Tourism Market Analysis

The global medical tourism market is growing significantly due to high cost of healthcare expenditure in developed countries. According to Centers for Disease Control and Prevention, approximately 750,000 U.S. people travel out of the country for medical care each year. In addition, rise in aging population, reduced cost of procedure in developing countries, and high standards of medical care at a reasonable price are expected to support the medical tourism market to grow in the coming years. Aging increases the risk of diseases, such as heart disease, gastrointestinal diseases and lifestyle associated diseases. According to the World Health Organization, the population of 60 years and above is expected to rise to 15% in 2050.
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Moreover, government is taking various initiates to improve healthcare infrastructure and improve healthcare services in developing countries. So, government support and health insurance portability is further expected to support the medical tourism market to grow in the coming years. In addition, trusted international accreditation of clinics and hospitals are also supporting the growth of the global medical tourism market.
Medical tourism refers to travelling to another country for medical treatment. Patients may go for medical care to another country for a range of reason, such as decreased cost, or to receive a procedure or therapy not available in their country. Services ranging from essential treatment to different kind of alternative treatments are provided through medical tourism. Cosmetic surgery, orthopedic surgery, weight loss surgery, heart surgery, oncologic care, reproductive treatment and dental treatment are some of the common procedures that people undergo on medical tourism.
On the basis of treatment, the medical tourism market can be categorized as dental treatment, orthopedic treatment, cosmetic...