According to the report Asia-PacificMedical Tourism Market, published by Market Data Forecast, the global market is projected to reach USD 15.15 billionby 2021, at a CAGR of 22.4% from 2016 to 2021.
Medical Tourism refers to people who travel to different places for the medical treatment at an affordable costs that they receive at homewhich may or may not be available in the travelers’ home country. Medicinal tourism is the most developing business today. This treatment may include a wide array of medical services; however, the most frequently availed services include dental care, cosmetic surgery, elective surgery, and fertility treatment.
The motives for making the travel could be one or more among the following major factors like High cost or affordability of medical services including the one the customer needs to avail.Non-availability or low quality of the necessary treatment due to lack of healthcare infrastructure or skilled service providers.Less waiting time for the available treatment such as organ transplant.
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Asia-PacificMedical Tourism Market: Drivers & Restraints
Drivers such as high treatment costs and long waiting time’s circumstances for medical procedures, advancements in technology, and development of market are propeeling the market. Stringent documentation forms, issues related with visa endorsement, and limited protection scope are the hindering the market.
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Asia-PacificMedical Tourism Market: Segmentation
- Cancer Treatment
- Y-o-Y Growth Analysis, By Type
- Market Attractiveness Analysis, By Type
- Market Share Analysis, By Type
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Asia-PacificMedical Tourism Market: Overview
As developing countries are progressively heading toward technological advancements and quality administrations in the medical and healthcare area, the Asia-Pacific medical tourism market is foreseen to witness powerful development during the forecast period. Developing healthcare services by different private and government sectors are likewise expected to further support the market development. Currently, an extensive flow of patients is towards Asia, particularly Thailand, South Korea, India, and Malaysia. Most patients are from the U.S. Europe who are searching for good quality services at reasonable costs, this is considered as the major driver for Asia-pacific region.
Asia-PacificMedical Tourism Market: Region-wise Outlook
On the basis of geography, the Asia-Pacific market is analyzed under various regions namely India, China, Japan, Australia and South Korea.Asia Pacific is anticipated to be the fastest developing regional section and will hold its position over the forecast period inferable from the upgrading medicinal services foundation and presence of appropriate government activities favoring development.
Key Questions Answered
- What is the current and future Medical Tourism Market outlook in global? What trends are affecting the Asia-Pacific market?
- What are the major market drivers, challenges and opportunities of the precision medicine market and their use cases?
- What are the primary precision medicine market trends and key developments for different precision medicine systems?
- What is the competitive landscape and market share of major players in the Medical Tourism space in Asia-Pacific?
- What are the key, high growth markets that Medical Tourism manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Medical Tourism currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Medical Tourism?
- What are the challenges and barriers that have hindered widespread adoption of Medical Tourism?
Asia-PacificMedical Tourism Market: Key Players
Some of the major players influencing the market are Min-Sheng General Hospital, KPJ Healthcare Berhad, SamitivejSukhumvit, Fortis Healthcare Ltd., Apollo Hospitals Enterprise Limited, Prince Court Medical Center, Bangkok Hospital Medical Center, Asian Heart Institute, Raffles Medical Group, and Bumrungrad International Hospital.
Reasons to buy Asia-PacificMedical Tourism MarketReport:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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