ALBANY, NY, April 15, 2021 / PRNewswire / – The pursuit of medical tourism stems from the trend towards improving patient care outcomes through globalized access to health care. Medical tourism has shortened waiting times, significantly reduced the costs of high-quality medical care and improved patient care abroad. Medical tourism has far-reaching implications for patient care when importing and exporting health systems. For example, individuals sometimes seek medical care in a foreign country because they are not allowed to do so in their country.

Access to cutting-edge technology, international hospital accreditations, and evolving protocols for continuity of care are the primary prerequisites on which demand in the medical tourism market thrives.

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Worldwide, the medical tourism market was tied to something $ 61.3 billion in 2018 and is expected to increase at a CAGR of 10.5% over the forecast period 2019-2027.

Main results of the medical tourism market study

  • Compliance with international quality standards Key worker

Numerous requirements make medical tourism attractive. The health systems of the importing countries increasingly used advanced technologies and medical devices for operations that were lacking in the exporting countries. The need to build trust has resulted in several hospitals and clinics in importing countries complying with different international quality standards. A typical example are the Joint Commission International Standards (JCI). Increase in the number of JCI accredited hospitals in Asia was a critical growth accelerator. China, Japan, India, South Korea, Thailand, Malaysia, Singapore, and Philippines have been at the forefront of improving access to patient care through medical tourism.

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  • Globalization of the insurance key

Health insurance portability is a key aspect of expanding patient autonomy to obtain medical care in importing countries in the medical tourism market. For example, European countries have seen health insurance portability become more widespread, increasing patient care acceptance in medical tourism. The globalization of insurance has led to a successful offer for the health systems in importing countries, but also benefits patients from exporting countries.

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  • Sociopolitical state key aspect

Political instability and civil unrest can be major bottlenecks in the uptake of patient care through medical tourism. War nations and a stressed relationship between export and import nations are dampening the demand for medical tourism. For example, Thailand has been home to political turmoil lately. This will deter people from seeking medical care in the country. Terrorist attacks and high crime rates can be widespread in some countries in the United States middle East. All of this is hindering the growth of medical tourism. There are several other important concerns, such as: B. Different rules for medical negligence. Compensation frameworks for misconduct are sometimes burdened by complexity, which significantly limits the demand in the medical tourism market.

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Medical Tourism Market: Key Factors and Future Paths

  • The globalization of the health care system is a central trend that is shaping the development of the medical tourism market
  • The rise in advertising for the benefits of medical tourism is increasing the demand
  • Governments in developing and emerging countries are driving health infrastructure forward in terms of market prospects for fuels for medical tourism

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Medical Tourism Market: Key Players

Hospitals and healthcare providers are focused on gaining regulatory approvals, integrating technologically advanced products into patient care workflows, and entering into collaborative agreements with other key stakeholders.

  • Jordanian Hospital
  • Razavi Hospital
  • Phyathai Hospitals Group
  • Zulekha Hospital
  • Al Rahba Hospital
  • Bahrain Specialized Hospital
  • Dr. Soliman Fakeeh Hospital
  • Group of the Saudi German Hospital (SGH)
  • Apollo Hospitals Enterprise Limited
  • Fortis Healthcare Limited

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