Lack of health insurance is the primary motivator of medical tourism worldwide. People may now locate specialized treatments at reasonable prices thanks to the growth of the internet and online advertising in remote locations. Around 56 million Americans under the age of 65 struggle to pay for their medical bills, according to research conducted in 2013 by Nerd Wallet Health, which looked at data from the Centers for Disease Control and Prevention (CDC), the United States Census Bureau, and the Federal Court System. Medical tourism generated considerable revenue in 2015, ranging from $60,000 to $70,000, and it is anticipated to more than triple in the coming years, according to the Health-Tourism fact sheet and statistics. These factors suggest that the global medical tourism market would grow quickly throughout the forecast period. The global medical tourism industry is projected to grow as a result of increased government backing. The majority of nations have made an attempt to provide tourists with medical tourism treatments.
Between 2019 and 2027, the worldwide Medical Tourism Market is anticipated to expand at a CAGR of 12.4%.
Prominent Companies in the Medical Tourism Industry:
Apollo Hospitals Enterprise Ltd.
Apollo Hospitals Enterprise Ltd. is an Indian multinational healthcare group, was founded in 1983 and headquartered in Tamil Nadu, India. It operates in India, Bangladesh, Mauritius and the UK. In February 2023, Apollo Hospitals Group, the largest healthcare organization in Afro-Asia, and RAK Hospital, the top hospital in the UAE, sign a clinical collaboration deal. The partnership's goal is to collaboratively enhance the field of health by leveraging cutting-edge medical technology. It will involve training, telemedicine services, academics, and laboratory referral services.
Prince Court Medical Centre
Prince Court Medical Centre owns and operates a healthcare facility in Malaysia. It was founded in 2007 and headquartered in Malaysia. It operates in Asia. With its dedication to world-class medical services and superior service delivery that accommodates patients from all over the world, Prince Court Medical Centre, a renowned private hospital in Malaysia, will continue to raise the bar for quality, patient-centered care in May 2023. This involves providing each patient with a guarantee of a single room, individualized treatment, and luxuries like concierge services, teams of doctors and customer service representatives, an international business lounge, fine-dining menus, and multilingual interpreters.
Gleneagles Hospitals
Gleneagles Hospitals is a private hospital providing medical and surgical services. It was founded in 1957 and headquartered in Singapore. It operates in Malaysia, Singapore, India, China, Hong Kong and Brunei. Frost & Sullivan recognized Gleneagles Hospital Kuala Lumpur in May 2023 for its efforts to enhance patient satisfaction and customer value.