International Accreditations for Hospitals Drive Prospects of Medical Tourism Market in Offering Quality Patient Care, Revenues to Rise at CAGR of 10.5% from 2019 to 2027 TMR - Seite 2
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- Globalization of insurance key accelerant
Portability of health insurance is a key aspect in broadening the autonomy for patients to seek medical care in importing countries in the medical tourism market. For instance, European countries have seen growing penetration of health insurance portability, thereby boosting the uptake of patient care under medical tourism. The globalization of insurance has creating a winning proposition for healthcare systems in importing countries but also benefits patients from exporting countries.
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- Socio-political condition key aspect
Political instability and unrest may be key bottlenecks in uptake of patient care through medical tourism. Warring nations and a stressed relationship between exporting and importing nations dampen the demand for medical tourism. For instance, Thailand has been home to political unrest in recent times. This will dissuade people from seeking health care in the country. Instances of terrorist attacks and high crime rates may be rampant in some countries in the Middle East. All these impede the growth of the medical tourism. There are a few other key concerns, such as varying rules pertaining to medical negligence. Compensation frameworks for malpractice at times are burdened by complexity, acting as a glaring constraint for the demand in the medical tourism market.
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Medical Tourism Market: Key Drivers and Future Avenues
- The globalization of healthcare is a key trend shaping the evolution of the medical tourism market
- Rise in advertisement on the benefits of medical tourism boosts demand
- Governments in developing and emerging economies on propelling healthcare infrastructure pertaining to medical tourism fuels market prospects
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