The medical tourism market’s most prominent driver is the emergence of affordable healthcare choices, with increased quality services. Shifting patient preference towards minimally invasive and low-cost procedures and advancement in healthcare administration bolsters the market growth. Globally, the healthcare systems are offering incentives and comfortable stay with affordable plans to invite medical assistance seeking visitors.
Impact of COVID-19
Rising cases of coronavirus across the globe have compelled the governments to enforce lockdown and seize the import-export of medical supplies. The shortage of personal protective equipment has severely impacted the medical tourism market. China has a million outbound medical tourists and wellness tourists, followed by the U.S., South Korea, and Japan. South Korea annually attracts nearly 350,000 medical visitors, with one in three arriving from China. Iran also receives 350,000 medical tourists outside SE Asia, with 90% originating from local countries and the Gulf. Italy has a limited inbound number of medical tourists, which are about 600,000.
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Medical travel consultants, start-ups, and small agencies have limited budgets and cash flow and are sensitive towards fluctuations caused due to the pandemic. Several medical travel events, especially the ones scheduled during the first six months of 2020, have been canceled or postponed, further hampering the market growth.
Medical Tourism Market: Segmentation
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now