Global Medical Tourism Market to Rise to Over $30 Billion By 2019 The Siasat Daily
go to original January 3, 2015

Medical Tourism in Mexico (visitmex)

Global medical tourism market will rise to $32.5 billion by 2019 on account of rising healthcare costs in developed countries, like the US and improved standards of healthcare technology and services in nations like India and China, a research says.

The surging costs of healthcare and medical insurance in the US will give a rise to global medical tourism which will register a compound annual growth rate (CAGR) of 17.9 per cent from 2013 to 2019, according to the research titled "Medical Tourism Market (India, Thailand, Singapore, Malaysia, Mexico, Brazil, Taiwan, Turkey, South Korea, Costa Rica, Poland, the Philippines and Dubai).

The research has been conducted by Transparency Market Research (TMR), a US-based market intelligence company, which has pegged the current medical tourism market at $10 billion. Factors like ageing population, adoption of newer technologies to treat various products and better exchange rates in the economy as a whole push the case for its rise.

The possibility of economic crisis in developed nations which has led to decrease in disposable incomes has also added to its growth.

Better pricing for cosmetic surgeries and shorter waiting period for treatment is also likely to accelerate the growth in the sector.

Read the rest at The Siasat Daily

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