North America medical tourism market size to exceed $3 billion by

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Pune, India, Jan. 20, 2022 (GLOBE NEWSWIRE) —

According to a recent industry report presented by Graphical Research, the North America medical tourism market is expected to register its name in the billion-dollar fraternity within seven years, surpassing $3 billion in revenue by 2027.

The North America medical tourism market forecast is fueled by the availability of highly qualified medical personnel and the use of advanced technologies to offer diagnosis and treatment. The concept of medical tourism has gained immense popularity among both developed and developing regions.

Governments and medical authorities in North America are implementing a wide variety of initiatives and policies to increase the influx of international patients. The main objective is to improve the region’s economic development prospects.

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The American Medical Association has introduced several guidelines and policies for insurance companies, employers and others working in the market. These sets of rules and regulations all relate to proper aftercare, accredited facilities, patient rights, and risks associated with surgeries. All these efforts will improve the quality of the health system in the country.

Some of the vital trends that will drive this industry forecast are mentioned below:

Growing compliance with international medical standards:

Many medical organizations in North America are taking steps to comply with international medical standards set by world authorities. The main objective behind this is to improve the efficiency of surgeries and improve the quality of medical services offered to the clients. Medical tourism offers unique economic development opportunities for countries in the region, which makes the concept very attractive to federal authorities.

The percentage of people traveling to North America for medical purposes is increasing at a notable rate each year. Regional governments support medical tourism services by providing adequate funding to the health sector.

Medical tourism finds great application in cardiovascular treatments:

Cardiovascular diseases being the leading cause of death in the world, North America medical tourism market share of cardiovascular surgery will register a CAGR of 8.4% till 2027. One of the main reasons behind this is that the region offers a wide variety of advanced services like innovative medicines, personalized care and the use of modern devices to optimize treatment. Some of the common forms of cardiovascular surgeries are heart valve replacement, angioplasty, pacemaker insertion and others.

Cardiovascular treatments in North America are experiencing amazing technological advancements to improve the accuracy of diagnostics and surgical procedures. Other non-technological improvements taking place in the region are advances in health policies and educational structure, and the wide availability of experienced cardiac surgeons and centers.

The demand for cosmetic surgeries is increasing in North America:

The need to look younger and overcome severe skin disorders has fueled the demand for cosmetic surgeries in North America. This is the reason why medical tourism is also gaining popularity as many people from different countries travel to the region every year for treatment. According to a global survey of cosmetic surgeries, conducted by the International Society of Aesthetic Plastic Surgery (ISAPS), the number of cosmetic procedures performed in 2019 saw a significant increase of 7.4%. Some of the most popular cosmetic surgeries are facelifts, Botox fillers, high end laser treatments and many more.

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The American market is gaining momentum:

The US medical tourism market is expected to gain momentum in the coming years and had already reached a valuation of over $673 million in 2020. One of the important reasons behind this is that the country is implementing some advanced technologies in its health sector and receives a lot of support from the government in this regard.

As the authorities have realized the true potential of medical tourism in the future, they are setting up initiatives and programs to promote the same in the country. Medical tourism can not only play a vital role in improving the economic development prospects of the United States, but also generate large-scale employment opportunities and improve medical infrastructure. The country’s hospitals engage in collaborations with other clinics and medical professionals staying abroad with the aim of attracting as many medical tourists as possible.

Medical tourism is a popular concept in the healthcare industry in North America that has the potential to show substantial advancements in the future. The massive influx of patients from developing regions is one of many factors playing an important role in the economic development of countries involved in medical tourism.

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About Graph Search:

Graphical Research is a business research company that provides industry insights, market forecasts, and strategic inputs through granular research reports and consulting services. We publish targeted research reports with the aim of meeting the varied needs of clients, from market penetration and entry strategies to portfolio management and strategic insights. We understand that business requirements are unique: our union reports are designed to ensure relevance for industry players across the value chain. We also provide custom reports tailored to the exact needs of the client, with dedicated analyst support throughout the purchase lifecycle.


        
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