Asia-Pacific to Gain Prominence in Medical Tourism Market at Fastest CAGR of 15.5%

Thursday, August 30, 2018 General News
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PORTLAND, Oregon, August 30, 2018 /PRNewswire/ --

Availability of affordable, high

quality care in countries like India, Malaysia, and Thailand coupled with proactive
support from government agencies and organizations
is expected to boost the growth of the Asia-Pacific medical tourism market.   

Allied Market Research recently published a report, titled, Medical Tourism Market: Global Opportunity Analysis and Industry Forecast, 2017-2023. The report includes insights on top winning strategies, leading market players, current market trends, future market potential, and several dynamic factors such as drivers, restraints, challenges, and opportunities. According to the report, the global medical tourism market accounted for $61.17 billion in 2016 and is expected to garner $165.34 billion by 2023, registering a CAGR of 15.0% from 2017 to 2023.

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Prevalence of chronic diseases such as cancer, increase in disposable income, and easy accessibility of good quality healthcare services along with assistance from local governments and tourism departments have boosted the growth of the global medical tourism market. However, several factors such as stringent documentation and issues associated with visa endorsement hamper the growth of the market. On the contrary, advancements in medical technology and availability of advanced medical instruments in medical tourism hubs are expected to fuel the market growth.

Cancer treatment segment to witness highest demand in global market by 2023 

The report bifurcates the market based on type of treatment into cardiovascular treatment, orthopedic treatment, neurological treatment, cancer treatment, fertility treatment, and others. The cancer treatment segment accounted for $19.64 billion in 2016, contributing almost one-third of the market share. However, the neurological treatment segment is expected to register the highest CAGR of 15.5% through 2023.

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Asia-Pacific to be the most popular medical destination among orthopedic patients through 2023  

The global medical tourism market report includes an in-depth analysis of geographical regions such as North America, Europe, Asia-Pacific, and LAMEA. North America dominated the medical tourism market in 2016, contributing more than 33.1% of the total market share. However, Asia-Pacific is projected to the fastest growing region, registering a CAGR of 15.5% from 2017 to 2023.

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Frontrunners of the global industry 

The report includes a detailed analysis of the leading market players in the market, including Apollo Hospitals Enterprise Limited, Asian Heart Institute and Research Centre Private Limited, NTT Medical Center Tokyo, UZ Leuven (University Hospitals Leuven), Aditya Birla Memorial Hospital, Prince Court Medical Centre, Fortis Healthcare Ltd., KPJ Healthcare Berhad, National University Hospital, Infectious Diseases Partners Pte. Ltd., Barbados Fertility Centre, and Samitivej Public Company Limited. These companies have adopted several strategies such as product launch, mergers & acquisitions, collaborations, and partnerships to maintain their position in the global medical tourism market.

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Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas. 

Similar Reports: 

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About Us 

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Alternate Titles: 

  1. Asia-Pacific Medical Tourism Market To Grow At Fastest CAGR Of 15.5% During 2017-2023 
  2. Cancer Treatment Segment To Witness Highest Demand In The Global Medical Tourism Market By 2023 

SOURCE Allied Market Research



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