North American outbound medical tourism expected to exceed $15 billion by 2017

Future Marketing Insights published a report stating the growth of the North American outbound medical tourism services market is expected to reach $15.53 billion by the end of 2016 and is likely to increase to $150.36 billion by 2026, according to a press release.

The report, titled “Outbound Medical Tourism Services Market: North America Industry Analysis and Opportunity Assessment, 2016-2026,” included estimations for the major outbound medical tourism services market segments, such as Cosmetic Surgery Treatment, Cardiovascular Treatment, Orthopedic Treatment, Cancer Treatment, and Spine Surgery Treatment.

The report stated that the Cosmetic Surgery Treatment segment dominated the outbound medical tourism services market in 2015 and is expected to dominate throughout the forecast period with the highest compound annual growth rate among the segments of 32.9%. According to the press release, the cosmetic segment is estimated to be valued at $3,760.9 million by the end of 2016.

Factors that may restrict the growth of the market include lack of effective follow-up care on returning home, rampant medical malpractices in medical tourism destinations, proliferation of superbugs in the destinations, problems associated with language barriers, and privacy concerns.

Reference: www.futuremarketinginsights.com