Medical Tourism is basically when a patient resides in a particular country but travels overseas for medical care. Many factors such as affordability, accessibility, or higher level of quality of care leads to patients seeking care in other countries. Availability of latest healthcare technologies with good quality healthcare and assistance from government and tourist departments can lead to a healthy growth in medical tourism market.
The Global Medical Tourism Market will generate an explosive double digit CAGR of 21.4% during the forecast period (2017-2023).
Another reason that can drive the market is long waiting list to avail medical care, which forces patients to travel abroad and avail required treatment rather than living in pain for years.
The restraints difficulties associated with travelling, language barriers in relation to travelling to non-English speaking countries, availability, documentation, and VISA approval issues are expected to hamper the market growth. These factors are likely to hamper the growth of Medical Tourism market.
Key Market Player:
There are various market players operating in the Global Medical Tourism Market. Fortis Healthcare Ltd., Apollo Hospitals Enterprise Limited, KPJ Healthcare Berhad, Barbados Fertility Centre, NTT Medical Center Tokyo, Seoul National University Hospital, Asian Heart Institute and Research Centre Private Limited, Aditya Birla Memorial Hospital, Barbados Fertility Centre, Prince Court Medical Centre, and Samitivej Public Company Limited.
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Founded on 1983, Apollo hospitals offers an array of medical treatments and established itself as a leader in healthcare services provider domain. It has a strong presence across the world for its healthcare ecosystem, including Hospitals, Pharmacies, and Primary Care & Diagnostic Clinics. The hospital has focused on various inorganic and organic growth strategies to enhance its services and increase its patient base. For instance in the year 2015, Chennai based Apollo hospitals entered into an agreement with The Indian Railway Catering and Tourism Corporation (IRCTC) to provide hassle-free and easy travel for patients who travel to Apollo hospitals for medical care. This agreement also aims to expand its services to neighbouring counties such as Bangladesh and Sri Lanka in order to attract many more patients. Additionally in 2014, Apollo hospitals invested over 150 crores for promotion of medical tourism in Karnataka.
Incorporated on 1996, Fortis hospital is one of the leading healthcare provider. Fortis healthcare owns a plethora of healthcare centres such as multi-specialty hospitals as well as super-specialty centres providing tertiary and quaternary healthcare to patients in areas such as cardiac care, orthopedics, neurosciences, oncology, renal care, gastroenterology and mother and child care firm has focused on various strategies such as collaboration, acquisition and receiving patents to enhance its customer base and geographic presence. For instance in 2016, Fortis Hospitals was awarded Best Medical Tourism Hospital by Federation of Karnataka Chambers of Commerce and Industry (FKCCI). Such acclamation enhance the hospitals healthcare system and enforces faith in patients to avail treatment from Fortis hospitals.
1 Report Prologue
2.1 Scope of Study
2.2 Research Objective
2.3 Assumptions & Limitations
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
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4 Market Dynamics
5 Market Factor Analysis
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To view the original version on ABNewswire visit: MRFR Released Medical Tourism Market 2018 International Players Strategies | Success Milestones and Segments | Tourism Business Forecast to 2023
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