The global medical tourism market is anticipated to hit $160.8 billion by 2025, based on a ResearchMoz report.
Here are six things to know:
1. The market will grow at a compound annual growth rate of 14.9 percent through 2025.
2. Main medical tourism services include cosmetology, dentistry, cardiology, orthopedic surgery, neurology and oncology.
3. A boost in healthcare expenditure as well as cost-effective treatments in developed countries are increasing the medical tourism market.
4. Developed tourism infrastructure as well as cost-effective treatments in Mexico, Turkey, Germany and Singapore will spur the growth of the global market.
5. The Asia-Pacific region led the medical tourism market, and the Latin America and Middle East and Africa regions are expected to expand.
6. Costly medical treatments in the United States and Europe are driving patients to seek care elsewhere.