Medical tourism is described as a trip across international borders for the purpose of resorting to medical treatment of any kind it may or may not be available in the travelers' home country. This treatment could cover a wide range of medical services; but, the most frequently used services include cancer orthopedic treatment, annoying treatment, elective surgery, fertility treatment and other
Asia Pacific Medical Tourism Market size was around USD 7.79 billion in 2018. It is expected to grow at a CAGR of 22.4% to reach USD 19.87 billion by 2023.
Drivers and Restraints:
Affordable and accessibility of good quality healthcare services, advancement in technology, stable development in market, increase in number of geriatric population, Many of the governments and hospitals now make use of medical tourism to seek further investment and for further growth. Restraints of the market are stringent documentation forms, issues related to visa endorsement and limited protection scope.
The Asia Pacific Medical Tourism market has geographically segmented into China, India, Japan, South Korea, and Australia. India and china holds the largest contribution. Asia is the fast growing CAGR market.
Major companies in the market are Min-Sheng General Hospital, KPJ Healthcare Berhad, Samitivej Sukhumvit, 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.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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