DUBLIN--(BUSINESS WIRE)--Aug 17, 2018--The "Global Medical Tourism Market - Segmented by Treatment Type and Geography - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

The global medical tourism market was valued at USD 15.43 billion in 2017, and is expected to register a CAGR of 8.5% during the forecast period of 2018-2023.

Asia-Pacific accounted for the largest share of around 40% of the global market, whereas, North America was estimated to register the fastest CAGR over the forecast period.

High Cost of Undergoing Medical Treatment

The cost of undergoing medical treatment in a developed country is very high. It is estimated that, although the treatments are of reliable quality, the procedures tend to be on the expensive side. In addition, the major healthcare products are also quite extravagantly priced. Countries in Asia-Pacific, Middle East, and South America provide high-quality medical services at a much lower rate, compared to the developed economies. There are companies that cater to all the medical and non-medical needs of tourists, during their travel.

In addition, the availability of the latest medical technologies and a growing compliance on international quality standards drive this market. The use of English as the main working language, solves the problem of communication and patient satisfaction, and adds to the growth of this market. Health insurance portability, advertising, and marketing are other factors that augment the fast-paced growth of the medical tourism industry.

Notable Developments

January 2018 - The Saudi Commission for Tourism and National Heritage (SCTH) has been promoting medical tourism to boost the local tourism sector. As a part of its plan to pave the way for investment in touristic sites, the SCTH established public facilities around the geothermal waters of Al-Dobdobah well. The sulfuric hot spring waters are known for their medicinal properties and attract a lot of medical tourists. October 2017: The Indian ministry of finance, in association with the ministries of tourism and health, launched a portal, for helping medical travelers with a comprehensive information base. The portal offers information in Arabic, Russian, and French.

Key Topics Covered

1. Introduction

2. Research Methodology

3. Executive Summary

4. Key Inferences

5. Market Overview

6. Drivers, Restraints, Opportunities, and Challenges (DROC) Analysis

7. Market Segmentation

8. Competitive Landscape

9. Company Profiles

Cosmedic Travel BB Health Solutions Euromedical Tours Klinikum Medical Link Apollo Hospitals Healthbase Medretreat KPJ Healthcare Behard

10. Future Market Outlook

For more information about this report visit https://www.researchandmarkets.com/research/fpkmhm/global_medical?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20180817005262/en/

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Related Topics:Medical Tourism

KEYWORD:

INDUSTRY KEYWORD: HEALTH TRAVEL OTHER TRAVEL OTHER HEALTH

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 08/17/2018 10:48 AM/DISC: 08/17/2018 10:48 AM

http://www.businesswire.com/news/home/20180817005262/en