Navigation Links
Medical Tourism Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
Date:11/7/2013

Albany, New York, USA (PRWEB) November 07, 2013

According to a new market report published by Transparency Market Research "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," the global medical tourism market was valued at USD 10.5 billion in 2012 and is estimated to reach a market worth USD 32.5 billion in 2019 at a CAGR of 17.9% from 2013 to 2019.

Browse the full report with complete TOC at http://www.transparencymarketresearch.com/medical-tourism.html

Medical tourism is defined as an act of travel of patients from their home country to other destinations for availing medical services. Rise in healthcare costs in developed countries coupled with the availability of high quality medical services at a low cost in developing countries have given a boost to the medical tourism industry. These medical services range from elective procedures such as cosmetic surgeries to complicated surgeries such as cardiac, orthopedics, neurosurgery and others. Significant growth in this industry is due to economic developments in developing countries that in turn has led to the growth in the medical industry and quality of medical services.

Rise in the healthcare expenditure in developed countries coupled with in the growing elderly population has also contributed to the growth of the medical tourism across the globe. Economic crisis in the U.S., increased the number of uninsured population, consequently further triggering the growth of this market. Recently, there are approximately 50 million uninsured Americans that are willing to travel abroad for affordable and quality medical care. Globalization and improved communication technology act as a catalyst to boost the growth of this industry.

The development of medical tourism industry is based on several factors such as reduced cost of procedures, long waiting time and high demand for cosmetic surgeries. Medical travel is not only witnessed for intricate procedures but is also expanding due to growing demand for cosmetic and dental procedures since these are usually not reimbursed under regular health insurance policies.

Patients traveling abroad can save from 30% to 90% on a procedure, including their travel expenditures, as compared to the medical costs in their own countries. Long waiting time is another factor which has substantially boosted the growth of this industry. Patients based in Canada and U.K travel to low cost destinations for their treatments in order to avoid long waiting periods in their own countries and receive timely access to serious ailments.

Rise in healthcare costs in developed countries coupled with the availability of high quality medical services at lower prices in developing nations has primarily surged the expansion of the medical tourism industry. Moreover, rise in elderly population along with growing number of uninsured population has further triggered the market growth. Patients are traveling abroad not only for cosmetic surgeries with a quick recovery, but also for sophisticated cardiovascular surgeries. Many countries plan to leverage medical tourism as a strategy to boost their healthcare services and tourism industry. By encouraging its presence in the medical tourism market, a country can stimulate its economic growth and create employment opportunities. Consequently, the medical tourism industry is rapidly expanding and is anticipated to have a significant growth in the near future.

Related Report : Medical Imaging Equipment Market
http://www.transparencymarketresearch.com/medical-imaging-equipment-market.html

Medical tourism is a direct result of globalization of healthcare. There is an emerging opportunity for Asian and Middle Eastern countries that are catering to the healthcare requirements of developed countries like the U.S, Canada and European countries. Factors such as medical specializations, geographic proximity, portability of health insurance, and reputation of the country are some of the main reasons that compel the patient to move to another destination. However, factors such as problem in follow-up care, medical malpractice and others could restrain the growth of this market.

Browse Blog: http://www.tmrblog.com/
Browse all Market Research reports: http://www.transparencymarketresearch.com

Read the full story at http://www.prweb.com/releases/2013/11/prweb11311863.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Potential for added medical benefits uncovered for widely used breast cancer drug
2. New Medical Office Building to Provide Care Closer to Home
3. Victory Medical Center Beaumont Celebrates 1000th Surgery
4. KidsCareEverywhere Brings the Latest Medical Information to Developing Countries
5. Portland Medical Marijuana Clinic Launches Blog
6. Get Legal Portland Medical Marijuana from The Aurora Clinic
7. Doctor Evidence Introduces New “Evidence Community” Approach to Therapeutic Area Database Development Inside Medical Manufacturers
8. Medical Factoring and Finance Company Alleon Capital Partners Closes a Financing Facility with Lab Serving Dialysis Patients
9. Mobile Health Joins National Registry of Certified Medical Examiners for DOT Exams in New York City
10. Career Step Announces New Career Training Program for Medical Coding Field
11. Mission: Medical Spanish - Canopy Apps & AMSA Partnership to Drive Medical Spanish Training at All 173 Medical Schools
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2017)... Ruidoso, New Mexico (PRWEB) , ... June 26, ... ... sexual dysfunction, anorgasmia, and urinary leakage is revolutionizing the way women look and ... Mexico is tackling the problem of female sexual dysfunction and urinary leakage head ...
(Date:6/26/2017)... ... June 26, 2017 , ... If the devil ... lots of red these days. According to recent estimates, 75 – 80% of ... coding errors(1). Some studies point to Electronic Health Records (EHR) with automated features ...
(Date:6/26/2017)... ... June 26, 2017 , ... New patients with ... Angela Cotey, with or without a referral. Dr. Cotey is a trusted dentist who ... preferred tooth replacement option. , Patients with missing teeth in Fitchburg, WI, are encouraged ...
(Date:6/25/2017)... , ... June 24, 2017 , ... Create a feel-good lyric music video in Final ... and sound in the timeline and write in the lyrics to any song. ProLyric flies ... out. Each line of the text can be added modularly for optimal control. ProLyric makes ...
(Date:6/25/2017)... , ... June 25, 2017 , ... An increase in ... growing foliage and plants, and along with that; a humdinger of an allergy season. ... it also means an increase in misery-causing grass and weed pollen. , “Our ...
Breaking Medicine News(10 mins):
(Date:6/7/2017)... -- Endo International plc (NASDAQ: ENDP ) ... Joseph R. Goodwin , U.S. District Court Judge for ... , entered a case management order in MDL 2325, ... Litigation (the "MDL") that includes a provision requiring plaintiffs ... on specific causation within one hundred twenty (120) days ...
(Date:6/7/2017)... Specialty Infusion Group, a brand of Diplomat Pharmacy, Inc. (NYSE: DPLO), ... location. The Iowa ... 7 cleanroom—the standard needed to compound intravenous (IV) nutrition formulations. A ... "Our new cleanroom will allow ... Iowa patients," said Phil Rielly , ...
(Date:6/5/2017)... 2017 Kohll,s Pharmacy & Homecare is the first distributor ... States . The Raizer is a simple battery operated ... to an almost-standing position within a few minutes. ... assistant and does not require any extra effort besides ... child can operate it, and lightweight and portable ...
Breaking Medicine Technology: