The Global Medical Tourism Market is expected to grow at a CAGR of 12.9% during the forecast period 2018-2025. The market was valued at $53,768 million in 2017 and anticipated to reach $143,461 million by the year 2025.
The Global Medical Tourism Market is expected to witness growth due to availability of latest medical technologies, large price disparity in treatment cost in countries, growing compliance on international quality standards, increasing focus on marketing and advertising of medical tourism and health insurance portability.
Key Players Profiled in the Report
Samitivej PCL, Prince Court Medical Centre, Barbados Fertility Center, Aditya Birla Memorial Hospital, Wooridul Spine Hospital, UZ Leuven, Seoul National University Hospital, NTT Medical Center Tokyo, KPJ Healthcare Berhad, Asian Heart Institute, Fortis Healthcare Limited and Apollo Hospitals Enterprise Limited are some market players profiled in the research report.
Apollo Hospitals Enterprise Limited
Apollo Hospitals Enterprise Limited is a healthcare provide and was founded in the year 1983, the institute is headquartered in India. The company offer operating standalone pharmacies and healthcare services. The business segments of the company include Pharmacy, Healthcare and Others. The healthcare segment is further categorized as projects and consultancy services, hospital-based pharmacies and hospitals. The hospitals segment offers services in more than 50 specialties areas that include transplant, gastroenterology, radiology, orthopedics, critical care, neurosciences, oncology and cardiac sciences. The company have their hospitals in ~70 locations, with ~9,550 beds and ~2,330 pharmacies, ~150 telemedicine units, ~170 primary care and diagnostic clinics in across ~10 countries. The company also operates dental clinics, day surgery centers and birthing centers; and offers research services, education and training programs, health insurance services and project consultancy services.
Considering growing medical tourism segment, Apollo Hospitals has established an International Patients Division, which extended care to ~2 lakh patients in the year 2019. Majority of foreign patients are from Nepal, Myanmar, Uzbekistan, Sri Lanka, Yemen, Oman, Ethiopia, Nigeria, Kenya, Iraq, Bangladesh, Afghanistan and Pacific Islands. Ease in Visa norms is a crucial step of the Indian government to boost the sector also advanced medical technology and skilled professionals are the major supporting factors for high number of international patient base.
Fortis Healthcare Limited
Fortis Healthcare Limited is a healthcare service provider, it was incorporated in the year 1996 and based in India. The company is involved in managing or administering, running, operating, maintaining and establishing research centers, health aids, diagnostic, healthcare, medicare and hospitals. The Company operates through the Medical Services Division and the Clinical Establishments Division. The Medical Services Division covers the business operations of emergency services, in-patient services and hospital operations. While, the Clinical Establishments Division operates, maintains and owns clinical establishments, radio-diagnostic services and outpatient division services. The company provide its healthcare delivery services Sri Lanka, Mauritius, Dubai and India.
Fortis Hospital Bannerghatta was India’s first hospital to receive medical tourism accreditation from Medical Travel Quality Alliance (MTQUA). The US-based MTQUA is an international organization that promote the quality needs and special safety in treatment of medical tourists. Medical tourism certification from the organization is the only global certification program for clinics, recovery resorts, hospitals, agencies and related service providers. The medical tourism agency, clinic or hospitals receives medical tourism certification after a formal assessment of quality standards in 10 non-clinical areas that has direct impact on wellbeing of medical tourists.
The research report compiled by Report Ocean provides interesting facts related to companies present in the market, apart from company profiling, the research study also includes various market elements such as segmentation analysis, market sizing, study of market determinants, geographical analysis, market overview and other market pointers.
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