Rising healthcare costs in the developed countries like the US is likely to cause a significant hike in the global medical tourism market. If experts are to be believed, by 2019 the tourism industry will touch a whopping figure of $32.5 bn, registering an annual growth rate of 17.9 percent. Not just the United States, countries like India and China are also considered as the major contributors in this future tourism expansion.
According to a research titled Medical Tourism Market, ‘Improved standards of health care technology and services at an affordable cost in the Southeast Asia are constantly thriving the Americans to fly to this part of the globe’. It also states that hospital facilities in these countries, especially India and China often match or surpass the quality of their US counterparts.
Besides the sky-touching healthcare costs, patients no longer have the luxury of insurance cover for medical and surgical procedures. Adoption of new technologies, ageing population and better exchange rates are also enlisted as some of the prime reasons for this superficial jump in medical tourism. Medical tourism in the developed countries can further accelerate due to the possibility of an approaching economic crisis.