Press Release
Medical tourism refers to people traveling abroad to obtain medical treatment. Factors such as high cost of healthcare and long waiting time for certain procedures have increased the popularity of medical tourism.
Market Dynamics
The increasing prevalence of neurological disorders is expected to drive growth of the global medical tourism market over the forecast period. For instance, according to the Institute for Health Metrics and Evaluation (IHME) 2019, neurological disorders were the leading cause of DALYs (276 million) and second leading cause of deaths (9.0 million) globally in 2016.
However, stringent documentation process such as issues related to visa approval and limited insurance coverage are factors restraining the medical tourism market growth.
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Global Medical Tourism Market – Regional Insights
On the basis of region, the global medical tourism market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the global medical tourism market owing to increasing prevalence of cancer. There is high incidence of cancer in the U.S. and across the world. For instance, according to the National Cancer Institute, in 2016, an estimated 15.5 million people survived cancer in the U.S., and the number of cancer survivors is expected to increase to 20.3 million by 2026. Moreover, in 2017, an estimated 15,270 children and adolescents in the age group of 0 to 19 were diagnosed with cancer in the U.S
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