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It’s official: North America medical tourism market to reach $52.78 Billion globally, by 2023

It's official: North America medical tourism market to reach $52.78 Billion globally, by 2023

The market garnered $23.52 billion in 2017

A new report about North America medical tourism market provides an in-depth analysis of the key winning strategies, drivers & opportunities, market share & share, key segments, and competitive landscape.

According to the report published by Allied Market Research, titled, “North America Medical Tourism Market by Treatment Type: Global Opportunity Analysis and Industry Forecast, 2017-2023”. The market garnered $23.52 billion in 2017 and is expected to reach $52.78 billion by 2023, registering a CAGR of 14.4% from 2017 to 2023.

Geographical convenience of Mexico for Mexico-bound health travelers who reside in South, North & Central America, and the Caribbean drive the market. Moreover, recent Joint Commission International (JCI) accreditations in Mexico, government involvement for the growth of medical tourism in Mexico, lower costs in Mexico, and technological advancements in healthcare facilities in North America further boost the market.

However, difficulties associated with travel, language barriers, documentation, and VISA approval issues, lack of medical training, and non-acceptance of healthcare insurances in Mexico 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.

Source: PRNewswire

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