Medical Tourism Market report provides detailed information regarding various insights of the industry. Some of them are growth drivers, hindrances, competitive landscape, regional analysis, and challenges.
The global medical tourism market is rising at a fast pace, driven by governments support across various n. This information has been shared by Fortune Business Insights in its report, titled “Medical Tourism Market Size”, Share and Global Trend By Type (Domestic, International), By Treatment (Cosmetology, Dentistry, Cardiology, Orthopaedic surgery, Neurology, Oncology, Other), and Geography Forecast till 2026”. The report highlights the various aspects and advantages of the fledgling global medical tourism market. Medical tourism can be understood as a form of globalisation which involves travel across international borders to avail medical facilities in foreign destinations. Medical tourism or travel has grabbed the interest of governments and medical professionals alike. Governments view medical exploratory activities as an opportunity to showcase their unique healthcare services; medical professionals seek newer frontiers to research alternative medicines and treatments for prevailing diseases. For example, homeopathy and Ayurveda in India offer effective alternative remedies to western allopathy. In the end, both parties inject the necessary fuel that will propel growth of the global medical tourism market.
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Key Companies and Manufacturers Covered:
The study covers key players operating in the market along with prime schemes and strategies implemented by each player to hold high positions in the industry. Such a tough vendor landscape provides a competitive outlook of the industry, consequently existing as a key insight.
Access to Low Cost Medication a Primary Driver of Medical Tourism Market
Developed countries such as the U.S. are often criticized for their expensive healthcare delivery systems. For example, in the U.S., a Harvard study showed that medical care is the country is unaffordable owing to inflated prices of drugs, high salaries of doctors, and high cost of hospital administration. Therefore, patients from such countries desperately search for destinations where healthcare is more affordable and accessible. Developing countries such as India and Brazil offer the perfect solution and lay the foundation for the global medical tourism market to flourish. The World Health Organization (WHO) recently declared Brazil as having the best healthcare delivery system in Latin America.
Report Highlights:
Slow Response Time Impedes the Growth of This Market
The global medical tourism market is affected by poor quality outcomes and poor and slow response times experienced by some of the medical tourists. A lead analyst at Fortune Business Insights cites a research conducted by the Medical Tourism Association which states that about 44.9% of medical tourists reported of slow response time in hospitals. Furthermore, 14.3% of the tourists complained of poor quality outcomes. This does not bode well for the global medical tourism market. The situation is exacerbated by poor communication and transport infrastructure along with barriers posed by language in these developing countries.
Detailed Table of Content:
Research Methodology:
Fortune Business Insights follows a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country level is derived from the most credible published sources and through interviews with the right stakeholders.
Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.
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An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Medical Tourism Market 2020 Size, Share, Global Industry Trends, Future Development, Outlook, Growth Analysis and 2026 Forecast