Medical Tourism | Silvija Travel Tips

South Korea Medical Tourism Market is likely to reach nearly USD 2 Billion by the year-end of 2022, growing at a CAGR of around 15% from 2017 to 2022.

Comprehensive market analysis of the worldwide Medical Tourism industry has been compiled in an industry study of the South Korea Medical Tourism Market.

The study provides an analysis of the South Korea economy in comparison to other industries and the revenues that can be received from each. Prevalent trends which may affect growth in the future are recognized for the base period from 2020 to 2026. The extent of the economic expansion of the market in addition to the products/services offered is recognized and discussed in the study. The data gathered is processed in a systematic manner and the findings are used to estimate the industry growth rate for the coming years.

Link to report: South Korea Medical Tourism Market

COVID-19 can affect the South Korea economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.

Key Topics Covered in the Report

´ South Korea Medical Tourism Market Environment & Trend

´ South Korea Medical Tourism Market Share & Forecast

´ South Korea Medical Tourism Market – Countrywise Analysis

´ Medical Procedures _ Cost Comparison Analysis

´ Industry News from South Korea Medical Tourism

´ Key Drivers and Inhibitors of the South Korea Medical Tourism Market

The report was compiled by the Wise Guy Consultants

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The global medical tourism market size is expected to reach USD 207.9 billion by 2027, expanding at a CAGR of 21.1%, according to a new report by Grand View Research, Inc. Medical tourism generates direct foreign exchange income and contributes to the overall development of any economy. It provides employment and business opportunities for residents. Moreover, it helps in the growth of associated businesses such as pharmaceuticals, healthcare devices, and tourism. Government support to maintain the general reputation and political stability of the host country is a key influencing factor that drives the market.

Key suggestions from the report:

Thailand dominated the market in terms of revenue in 2019 pertaining to the huge difference in treatment cost in comparison to developed countries. Around 2.8 million people visited Thailand to seek medical care in 2018 owing to low cost and good quality healthcare services
In 2016, Thailand ranked 18th in the International Healthcare Research Center’s Medical Tourism Index. Moreover, the country ranked 13th on the same index in terms of quality of facilities and services provided owing to well-developed healthcare infrastructure and an increasing number of healthcare professionals
In Thailand, Asia’s first largest private hospital, Bumrungrad International Hospital, is also the first hospital to receive JCI accreditation and ISO 9001 certification. Till date, over 53 private hospitals have received JCI accreditation
Singapore, Colombia, Taiwan, and Spain are some of the fastest-growing medical tourism destinations in the medical tourism market. Medical tourism is one of the important factors for revenue generation for these countries. They have an advanced healthcare infrastructure and skilled manpower to cater to international patients
Thailand is popular for cosmetic procedures and India is most preferred for cardiovascular and orthopaedic procedures. Brazil and Costa Rica are preferred for dental procedures.

Read the 140 page research report with ToC on “Medical Tourism Market Size, Share & Trends Analysis Report By Country (Thailand, India, Costa Rica, Mexico, Malaysia, Singapore, Brazil, Colombia, Turkey, Taiwan, South Korea, Spain, Czech Republic), And Segment Forecasts, 2020 – 2027” Link to the report: https://www.grandviewresearch.com/industry-analysis/medical-tourism-market

Government authorities are willing to invest in local enterprises to capitalize on the growth of the market. Such government bodies are authorizing projects that help in the overall development of infrastructure in the country such as the public transport system and water supply facilities to attract high-end travellers.

Medical tourism has led to a rise in state-of-the-art healthcare facilities in developing countries to attract foreign nationals, resulting in the fast growth of healthcare infrastructure in such countries. Moreover, healthcare providers now offer comprehensive tour packages that include services ranging from ticket booking to hotel stay and healthcare insurance.

Grand View Research has segmented the global medical tourism market based on countries:

Medical Tourism Country Outlook (Revenue, USD Million, 2016 – 2027)
- Thailand
- India
- Costa Rica
- Mexico
- Malaysia
- Singapore
- Brazil
- Colombia
- Turkey
- Taiwan
- South Korea
- Czech Republic
- Spain

Find more research reports on Healthcare IT Industry, by Grand View Research:

Wellness Tourism Market – The global wellness tourism market size was valued at USD 683.3 billion in 2018 and is expected to register a CAGR of 7.1% over the forecast period.
Care Management Solutions Market – The global care management solutions market size was valued at USD 7.5 billion in 2017 and is projected to exhibit a CAGR of 17.0% over the forecast period.
Healthcare Information Systems Market – The global healthcare information systems market size was estimated at USD 85.6 billion in 2016 and is anticipated to exhibit a CAGR of 7.7% over the forecast period.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis of 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

SOURCE Grand View Research, Inc.