Description
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
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This is referred to as domestic medical
tourism. 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
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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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