Pest analysis in medical tourism industry

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Pest analysis in medical tourism industry

Request Advisory Medical tourism is one of the most dynamically growing industries today. Considered to be the direct impact of globalisation of healthcare, medical tourism certainly exhibits strong growth potential globally.

As developing nations are increasingly heading toward technological advancement and quality services in the medical and healthcare sector, the global medical tourism market is anticipated to witness robust growth overpredominantly in Asian countries. The top treatments people travel abroad for, include cancer therapy, cardiovascular surgeries, orthopaedic treatments, dentistry, cosmetic surgeries, reproductive treatments, weight loss therapies, health screenings, and medical tests and scans.

In severe cases, a sizeable patient population also seeks second opinion from specialist doctors out of their countries. Key Drivers High treatment costs and lengthy waiting times for medical procedures, being the two major factors in driving medical tourism, are also supported by easier and cheaper international travel.

Medical excellence along with international accreditation are the key factors fuelling a majority of international patient flow, eventually boosting international medical tourism.

Currently, over medical departments and hospitals all over the globe are accredited by the U. This is another important driver associated with the market growth. Developing countries, with ever-evolving innovation and demonstrable achievements in medical research are estimated to accelerate the approaching medical tourist flow over the forecast period.

Growing healthcare investments by various government and private sectors are also anticipated to further bolster the market growth. Key Restraints However, medical tourists are highly prone to a wide variety of health risks after they return.

Pest analysis in medical tourism industry

The conditions may include TB, paratyphoid, amoebic dysentery, deep vein thrombosis, and more; usually caused due to poor post-operative care and inadequate rest. This could affect the market to some extent.

Tourism Industry Industry Analysis Abhishek Baranwal Amit Kumar Vishwakarma Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. If you continue browsing the site, you agree to the use of cookies on this website. UAE Business Directory. Search UAE Business Directory for International and Local companies in Abu Dhabi, Dubai, Sharjah, Ras Al Khaimah etc. with their Business Name, activity, Phone, Fax numbers and direct links to their business websites if available.. List your company with us for Free or pay AED /Year and you will get UAE Business . Type or paste a DOI name into the text box. Click Go. Your browser will take you to a Web page (URL) associated with that DOI name. Send questions or comments to doi.

Stringent documentation processes, issues related to visa approval, and limited insurance coverage are reportedly some of the most deterring factors for the global market. Global Medical Tourism Market: On the basis of the type of treatment, the market is segmented into cosmetic treatment, cardiovascular treatment, fertility treatment, dental treatment, orthopaedic treatment, and other general treatments.

South and Southeast Asia are expected to dominate the global market in the near future.

Pest analysis in medical tourism industry

While India broadly secures 1, Israel ranks 1 in the quality of services and facilities. India is renowned for specialist cardiac surgeries, while Singapore is a popular medical tourism destination owing to the expertise in complicated surgical procedures.

Thailand has been a popular destination for medical tourism and millions of patients have travelled to Thailand since It is also the top cosmetic surgery centre globally. Malaysia offers state-of-the-art medical infrastructure and treatments by highly skilled medical professionals, making it another sought after centre among medical tourists.

With economically affordable treatment options and favourable government initiatives, Malaysia is anticipated to acquire one of the top market positions in the global medical tourism market, during the forecast period.

While these players rank amongst they compete on the basis of exceptional service quality, optimum patient comfort, and relatively reasonable costs for various treatments. Several facilities are also undergoing mergers, acquisitions, affiliations, and joint ventures for delivering enhanced medical care, thereby strengthening their market positions.

This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology.

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The World Travel and Tourism Council estimates that in Travel and tourism is expected to generate* US$ 5, billion of economic activity* % of total GDP* ,, jobs or % of total employment* % of total exports [1]My task is to conduct a PEST analysis for a company within the Tourismindustry.

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Medical Tourism Market to Grow Exponentially Over , Asia to Dominate the Industry Globally