How many people participate in medical tourism?
3 The number of medical tourists to all countries in 2017 was estimated at 14-16 million. 2 The number of US medical tourists and the number of medical tourists in the world is expected to increase by 25% per year. 3 The financial impli- cations of medical tourism are profound.
How many people use medical tourism a year?
Each year, an estimated 20 million “medical tourists” seek treatment around the world, according to Patients Beyond Borders.
How big is the medical tourism industry?
The global medical tourism market size accounted for USD 104.68 Billion in 2019 and is projected to reach USD 273.72 Billion by 2027, registering a CAGR of 12.8% from 2019 to 2027 in terms of value.
What are the consequences of medical tourism?
Medical tourism increases global health care access but creates new challenges for nurses and other health care providers. With increased access to global health and treatment options, entrepreneurs are setting up businesses to facilitate access to health care abroad.
Why is medical tourism becoming popular?
The reason more Americans have become medical tourists is simply that they are seeking less expensive health care. Because we have the most expensive health care system in the world, it is not difficult to find countries that offer various procedures at 30%-65% of the cost of care in the United States.
Where are the primary customers of medical tourism?
Medical tourists from the United States commonly travel to Mexico and Canada, as well as countries in Central America, South America, and the Caribbean. People may travel to another country to get health care for many reasons, including: Cost: To get treatment or a procedure that may be cheaper in another country.
How popular is medical tourism?
Medical tourism is becoming increasingly popular, and it is projected that as many as 750,000 Americans will seek offshore medical care in 2007. This phenomenon is driven by marketplace forces and occurs outside of the view and control of the organized healthcare system.
Which country is best for medical tourism?
Canada. The top overall destination in the world for medical tourism, according to the 2020 MTA survey, is Canada.
How much is medical tourism worth?
Medical tourism was valued at 54.4 billion U.S. dollars in 2020 and was forecast to reach a market size of over 200 billion U.S. dollars by 2027.
How does medical tourism affect the economy?
Impact On The Society Medical tourism does more than just create employment and increase the GDP of a nation. Increased demand for health services induces equivalent increase in the nation’s attention towards the same. It results in increased investments in the health and allied sectors.
What is the positive effects of medical tourism in a country?
Benefits of medical tourism for the host country The influx of many more patients means more work and therefore higher profits for the medical community within the country. It also gives the medical professionals more global exposure and experience in the procedures that they perform.
Where is medical tourism popular?