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North America Medical Tourism Market by Treatment Type (Cardiovascular Treatment, Orthopedic Treatment, Neurological Treatment, Cancer Treatment, Fertility Treatment, and Others): Opportunity Analysis and Industry Forecast, 2017 - 2023

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LI_185050
Pages: 94
Sep 2018 | 478 Views
 
Author's : Onkar Sumant and Sohail Shaikh
Tables: 34
Charts: 06
 

North America Medical Tourism Market Overview:

The North America medical tourism market accounted for $20,279 million in 2016, and is estimated to reach $52,786 million by 2023, registering a CAGR of 14.4% from 2017 to 2023. Medical tourism can be defined as travel across international borders with the purpose of availing medical treatment of some form, which may or may not be available in the travelers home country. This treatment may include a wide array of medical services; however, the most frequently availed services include cancer treatment, orthopedic treatment, neurological disease treatment, elective surgery, fertility treatment, and others.

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The growth of North America medical tourism market is driven by factors such as geographical convenience of Mexico for Mexico-bound health travelers who reside in South, North & Central America, and the Caribbean, recent Joint Commission International (JCI) accreditations in Mexico, government involvement for the growth of medical tourism in Mexico, lower treatment costs in Mexico, and technological advancements in healthcare facilities in North America However, difficulties associated with travel, language barriers, documentation, and VISA approval issues, and lack of medical training and non-acceptance of healthcare insurances in Mexico limit the market growth. Conversely, rise in geriatric population due to baby boomers in North America, and increase in R&D activities in the field of healthcare provide lucrative opportunities to the market players.

North America Medical Tourism Market Segmentation

The North America medical tourism market is segmented based treatment type and country. By treatment type, the market is divided into cardiovascular treatment, orthopedic treatment, neurological treatment, cancer treatment, fertility treatment, and other treatments. By country, the market is analyzed across U.S., Canada, and Mexico.

Segment review

According to AMR analysis, cancer treatment is one of the most sought-after medical services in North America. There have been significant advances in oncology over the past two decades. Research in cancer treatment is one of the most funded avenues, which attracts participants in the healthcare industry. Moreover, rise in incidence of cancer owing to factors such as lifestyle preferences and pollution has further propelled this growth. This is projected to increase the number of cross-border travelers seeking good quality cancer treatment. In addition, cancer treatment is an expensive and prolonged treatment. Good quality treatment available at affordable prices motivates several patients to choose to travel.

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Snapshot of North America medical tourism market

North America is expected to be the major host for medical tourists from across the world, owing to presence of advanced medical technology and expertise in medical services provided in the region. In addition, it is perceived that the overall quality of medical services in North America is higher than in the rest of the world. Mexico is one of the major destinations for medical tourism, as it offers a wide number of high-quality treatments at considerably lower costs as compared to the U.S.

U.S. is another key tourism destination in North America, especially for advanced specialized treatments for cancer, neurological, and cardiovascular ailments.

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The key players profiled in this report include Angeles en Lnea, Centro Mdico ABC, Galenia Hospital, Hospital San Jos, Mdica Sur, SA de CV, and Star Mdica.

North America Medical Tourism Market Key Segments

By Treatment Type

  • Cardiovascular Treatment
  • Orthopedic Treatment
  • Neurological Treatment
  • Cancer Treatment
  • Fertility Treatment
  • Others

By Country

  • U.S.
  • Canada
  • Mexico
 

Chapter: 1: INTRODUCTION

1.1. Report Description
1.2. Key Benefits
1.3. Key Market Segments
1.4. Research Methodology

1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

Chapter: 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

Chapter: 3: MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings

3.2.1. Top investment pockets
3.2.2. Mexico in the global medical tourism market

3.3. Reimbursement scenario
3.4. Market dynamics

3.4.1. Drivers

3.4.1.1. Geographical convenience of Mexico
3.4.1.2. Recent Joint Commission International accreditations in Mexico
3.4.1.3. Government involvement in Mexico
3.4.1.4. Lower costs in Mexico
3.4.1.5. Technological advancements in healthcare

3.4.2. Restraints

3.4.2.1. Difficulties associated with travel, language barriers, documentation, and VISA approval issues
3.4.2.2. Lack of medical training and nonacceptance of healthcare insurances in Mexico

3.4.3. Opportunities

3.4.3.1. Rise in geriatric population due to baby boomers
3.4.3.2. Increase in R&D activities in the field of healthcare

3.4.4. Impact analyses

Chapter: 4: NORTH AMERICA MEDICAL TOURISM MARKET, BY COUNTRY

4.1. Overview

4.1.1. Key market trends, growth factors and opportunities
4.1.2. Market size and forecast
4.1.3. Market volume and forecast

4.2. U.S.

4.2.1. Market size and forecast
4.2.2. Market volume and forecast

4.3. Canada

4.3.1. Market size and forecast
4.3.2. Market volume and forecast

4.4. Mexico

4.4.1. Market size and forecast
4.4.2. Market volume and forecast

Chapter: 5: NORTH AMERICA MEDICAL TOURISM MARKET, BY TREATMENT TYPE

5.1. Overview

5.1.1. Market size and forecast
5.1.2. Market volume and forecast

5.2. Cardiovascular Treatment

5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast
5.2.3. Market volume and forecast

5.3. Orthopedic Treatment

5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast
5.3.3. Market volume and forecast

5.4. Neurological Treatment

5.4.1. Key market trends, growth factors and opportunities
5.4.2. Market size and forecast
5.4.3. Market volume and forecast

5.5. Cancer Treatment

5.5.1. Key market trends, growth factors and opportunities
5.5.2. Market size and forecast
5.5.3. Market volume and forecast

5.6. Fertility Treatment

5.6.1. Key market trends, growth factors and opportunities
5.6.2. Market size and forecast
5.6.3. Market volume and forecast

5.7. Other General Treatments

5.7.1. Key market trends, growth factors and opportunities
5.7.2. Market size and forecast
5.7.3. Market volume and forecast

Chapter: 6: COMPANY PROFILES

6.1. Galenia Hospital

6.1.1. Company overview
6.1.2. Company snapshot
6.1.3. Product Portfolio

6.2. Centro Mdico ABC

6.2.1. Company overview
6.2.2. Company snapshot
6.2.3. Product Portfolio

6.3. Mdica Sur

6.3.1. Company overview
6.3.2. Company snapshot
6.3.3. Product Portfolio

6.4. Star Mdica

6.4.1. Company overview
6.4.2. Company snapshot
6.4.3. Product portfolio

6.5. Angeles en Lnea, SA de CV

6.5.1. Company overview
6.5.2. Company snapshot
6.5.3. Product portfolio

6.6. Hospital San Jos.

6.6.1. Company overview
6.6.2. Company snapshot
6.6.3. Product Portfolio

 

LIST OF TABLES

TABLE 01. NORTH AMERICA MEDICAL TOURISM MARKET, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 02. NORTH AMERICA MEDICAL TOURISM MARKET, BY COUNTRY, 2016-2023 (NUMBER OF VISITS IN THOUSANDS)
TABLE 03. U.S. MEDICAL TOURISM MARKET, BY TREATMENT TYPE, 2016-2023 ($MILLION)
TABLE 04. U.S. MEDICAL TOURISM MARKET, BY TREATMENT TYPE, 2016-2023 (NUMBER OF VISITS IN THOUSANDS)
TABLE 05. CANADA MEDICAL TOURISM MARKET, BY TREATMENT TYPE, 2016-2023 ($MILLION)
TABLE 06. CANADA MEDICAL TOURISM MARKET, BY TREATMENT TYPE, 2016-2023 (NUMBER OF VISITS IN THOUSANDS)
TABLE 07. MEXICO MEDICAL TOURISM MARKET, BY TREATMENT TYPE, 2016-2023 ($MILLION)
TABLE 08. MEXICO MEDICAL TOURISM MARKET, BY TREATMENT TYPE, 2016-2023 (NUMBER OF VISITS IN THOUSANDS)
TABLE 09. NORTH AMERICA MEDICAL TOURISM MARKET, BY TREATMENT TYPE, 2016-2023 ($MILLION)
TABLE 10. NORTH AMERICA MEDICAL TOURISM MARKET, BY TREATMENT TYPE, 2016-2023 (NUMBER OF VISITS IN THOUSANDS)
TABLE 11. NORTH AMERICA MEDICAL TOURISM MARKET FOR CARDIOVASCULAR TREATMENT, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 12. NORTH AMERICA MEDICAL TOURISM MARKET FOR CARDIOVASCULAR TREATMENT, BY COUNTRY, 2016-2023 (NUMBER OF VISITS IN THOUSANDS)
TABLE 13. NORTH AMERICA MEDICAL TOURISM MARKET FOR ORTHOPEDIC TREATMENT, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 14. NORTH AMERICA MEDICAL TOURISM MARKET FOR ORTHOPEDIC TREATMENT, BY COUNTRY, 2016-2023 (NUMBER OF VISITS IN THOUSANDS)
TABLE 15. NORTH AMERICA MEDICAL TOURISM MARKET FOR NEUROLOGICAL TREATMENT, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 16. NORTH AMERICA MEDICAL TOURISM MARKET FOR NEUROLOGICAL TREATMENT, BY COUNTRY, 2016-2023 (NUMBER OF VISITS IN THOUSANDS)
TABLE 17. NORTH AMERICA MEDICAL TOURISM MARKET FOR CANCER TREATMENT, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 18. NORTH AMERICA MEDICAL TOURISM MARKET FOR CANCER TREATMENT, BY COUNTRY, 2016-2023 (NUMBER OF VISITS IN THOUSANDS)
TABLE 19. NORTH AMERICA MEDICAL TOURISM MARKET FOR FERTILITY TREATMENT, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 20. NORTH AMERICA MEDICAL TOURISM MARKET FOR FERTILITY TREATMENT, BY COUNTRY, 2016-2023 (NUMBER OF VISITS IN THOUSANDS)
TABLE 21. NORTH AMERICA MEDICAL TOURISM MARKET FOR OTHER GENERAL TREATMENT, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 22. NORTH AMERICA MEDICAL TOURISM MARKET FOR OTHER GENERAL TREATMENTS, BY COUNTRY, 2016-2023 (NUMBER OF VISITS IN THOUSANDS)
TABLE 23. GALENIA HOSPITAL: COMPANY SNAPSHOT
TABLE 24. GALENIA HOSPITAL: PRODUCT PORTFOLIO
TABLE 25. CENTRO MDICO ABC: COMPANY SNAPSHOT
TABLE 26. CENTRO MDICO ABC: SERVICES PORTFOLIO
TABLE 27. MDICA SUR: COMPANY SNAPSHOT
TABLE 28. MDICA SUR: SERVICE PORTFOLIO
TABLE 29. STAR MDICA: COMPANY SNAPSHOT
TABLE 30. STAR MDICA: SERVICES PORTFOLIO
TABLE 31. ANGELES EN LNEA, SA DE CV: COMPANY SNAPSHOT
TABLE 32. ANGELES EN LNEA, SA DE CV: PRODUCT PORTFOLIO
TABLE 33. HOSPITAL SAN JOS.: COMPANY SNAPSHOT
TABLE 34. HOSPITAL SAN JOS.: SERVICES PORTFOLIO

LIST OF FIGURES
FIGURE 01. NORTH AMERICA MEDICAL TOURISM MARKET SEGMENTATION
FIGURE 02. TOP INVESTMENT POCKETS, BY TREATMENT TYPE
FIGURE 03. MEXICO REVENUE SHARE IN THE GLOBAL MEDICAL TOURISM MARKET (%), 2016
FIGURE 04. MEXICO VOLUME SHARE IN THE GLOBAL MEDICAL TOURISM MARKET (%), 2016
FIGURE 05. IMPACT ANALYSES
FIGURE 06. NORTH AMERICA MEDICAL TOURISM MARKET, BY TREATMENT TYPE

 

Medical tourism refers to intercountry travel to obtain medical, dental, and surgical treatment. Rise in healthcare costs, especially in the U.S., has resulted in patients looking out for affordable options in Mexico. Medical tourism also indicates the rise in tendency among people to travel to find cost-effective healthcare treatment alternatives, which many a times also serve as tourist attractions. 

The medical tourism market is highly promoted by corporate hospitals through the provision of salient, high-quality medical services at comparatively decreased costs to patients from developed nations. Furthermore, surge in advertising & marketing and assistance & support from government organizations with respect to medical tourism supplement the market growth. Patients seeking cancer treatment are the highest contributors to the North America medical tourism market. This could be attributed to the surge in cancer prevalence throughout the world. Moreover, the employment of technologically advanced medical tourism healthcare facilities is highest in North America, owing to the increase in adoption of this technology.

However, difficulties associated with travel, language barriers, documentation, and VISA approval issues restrict the market growth. Conversely, rise in geriatric population due to baby boomers in North America, and increase in R&D activities in the field of healthcare provide lucrative opportunities to the market players. 


 

 

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