The global Medical Tourism market size is undoubtedly important. According to the Medical Tourism Association, about 14 million people in the world travel to other countries in search of medical care annually. It is an activity worth between 50 and 70 thousand million dollars.
How many tourists visit medical each year?
TOP Medical Tourism Statistics
According to recent data, there are around 50 million medical tourists worldwide annually.
How popular is medical tourism?
Medical tourism is becoming increasingly popular, and it is projected that as many as 750,000 Americans will seek offshore medical care in 2007. This phenomenon is driven by marketplace forces and occurs outside of the view and control of the organized healthcare system.
How many medical tourism are there?
In 2017, 495,056 patients visited India to seek medical care. According to a report from 2019 by the Federation of Indian Chambers of Commerce and Industry and Ernst & Young, most of the medical tourist arrivals in India were from Southeast Asia, Middle East, Africa, and SAARC region.
How big is the medical tourism market?
According to Precedence Research, the global medical tourism market size is projected to hit around USD 286.1 billion by 2030 and expanding growth at a CAGR 10.8% from 2021 to 2030. Ottawa, Nov. 18, 2021 (GLOBE NEWSWIRE) — The global medical tourism market size was reached at USD 102.6 billion in 2020.
Why is medical tourism booming?
Medical tourism has become a thriving industry in the recent past. … Some of the reasons why medical tourists seek out these countries are because they offer the latest medical technologies, high quality of service, and health insurance portability. Many developed countries might have a much higher cost of treatment.
Why is medical tourism becoming more popular?
The reason why medical tourism is increasing rapidly is the rising healthcare costs in western countries and the lack of insurance coverage for certain procedures. People are willing to travel to other countries to seek medical, dental, and surgical care that is not available, or they cannot afford at home.
Why has medical tourism become popular?
Why Even Consider Medical Tourism? Patients travel overseas seeking a high quality of healthcare, affordability, and access of care, but the most basic reason to go to a third-world country is the cost. … Even in countries with single-payer national health insurance, medical tourism is growing.
What are examples of medical tourism?
Top 5 Countries For Medical Tourism
- India. For patients in need of cardiac and orthopedic surgeries, India is growing in medical travel popularity. …
- Singapore. …
- South Korea. …
- Bulgaria. …
Is medical tourism illegal?
Medical tourism is legal in almost all respects, primarily because there is very little regulation, and therefore very little legal protection. However, there are ways to protect yourself before you go.
Why is Medical Tourism bad?
Substandard surgical care, poor infection control, inadequate screening of blood products, and falsified or outdated medications in lower income settings of care can pose greater risks than patients would face at home. Medical tourists also face heightened travel-related risks.
How much is medical tourism worth?
This is called medical tourism, and it’s a booming industry worldwide. In fact, the global medical tourism industry is worth an estimated $54.6 billion a year and is growing at around 25 per cent annually.
When did medical tourism start?
Beginning in the late 1980s, the island country started programs to lure foreigners from India, Latin America and Europe for eye surgeries, heart procedures and cosmetic procedures.