Medical tourism can be well-defined as an organized travel around the international borders to prevail medical treatment of some form, which may or may not be prevalent in the travellers’ home country. Medical tourists travel around international borders for the maintenance, improvement, or restoration of their health through affordable healthcare amenities & treatment prevalent in other regions, which are comparatively expensive in their own region. Medical tourists travel to attain the medical treatments likewise neurological treatment, dental, and cardiovascular treatment.
According to the report analysis, ‘Malaysia Medical Tourism Industry Outlook to 2015’ states that Malaysia is poised to accomplish growth in the future in the medical tourism segment with mounting popularity of reasonable quality healthcare treatments, growing healthcare costs in urban nations and inspiring experience of several exotic locations. The total revenue from foreign patients in the country is predicted to augment at a 5-year CAGR of ~% from 2010 to 2015.
Moreover, at Ken Research, the Malaysia Medical Tourism Industry Report delivers a comprehensive analysis of the Malaysia Medical tourism industry covering in detail several aspects such as market size on the basis of number of foreign patients, revenue from foreign patients, market segmentation, competitive landscape and profiles of the key hospitals treating foreign patients around the country. The report also entails foremost drivers and growth barricades of medical tourism market. The future outlook along with forecasts and macro-economic factors has also been presented delivering an insight on the prospects in the medical tourism industry.
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In addition, the affordable and admissibility of high-quality healthcare services and sustenance from the tourism departments and local governments are the foremost aspects that propel the growth of the Malaysia Medical Tourism market. Nonetheless, the obtainability of latest medical technologies in the medical tourism hubs, throughout the Malaysia, is predicted to propel the market growth. However, the partial, lengthy reimbursement by payers and difficulties linked with travel, language barriers, accessibility of documentation, and VISA approval problems hinder the growth of the medical tourism market. On the contrary, broader hospital network under the insurance coverage for cashless transactions is predicted to serve as a selection for the enlargement of the Malaysia medical tourism market.
The effective growth in awareness of advanced medical amenities is predicted to be the most crucial aspect propelling the growth of the Malaysia medical tourism market throughout the review duration. Region around Malaysia are progressively paying attention to technological advances and quality services in the medical and healthcare fields.
Other proficient driver of medical tourism is the most innovative technology, speedy admittance for the medically necessary processes, low-cost are for linked treatment, lessen expenditure care of discretionary processes, and better-superiority care for medically necessary processes. Advancement and growth in medical tourism reliant on the individual’s travel for treatment, which should be economical and admissible. For instance, cancer treatment is luxurious, and the time of treatment is enlarged. Therefore, individuals migrate to foreign regions for better admissibility in the price variation. It underwrites to the growth of Malaysia medical tourism market.
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Malaysia medical tourism market Growth Rate
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