The medical tourism market in the Middle East and North Africa region is projected to be worth $2.92 billion by 2021, growing by 8.17% annually from 2016 to 2021.
The figures are published in the latest report on the region’s health tourism market by Market Data Forecast, Medgadget reported.
Medical tourism includes people who travel from their country of residence to another country to receive treatment for a disease, a condition, an ailment, or to undergo any cosmetic procedure, and who are seeking lower cost with higher quality, different or other better access to care.
Health tourism is a rapidly developing sector. Considered to be the immediate effect of globalization of healthcare, medical tourism displays strong development potential all around the region. This industry is recognized to have an immense growth potential in numerous economies, as an increasing number of countries are striving to become major exporters of the medical services.
High treatment costs and long waiting times are fueling the growth of the market in developing countries, with many nations stepping up efforts to secure a share of the growing health tourism market.
Factors such as stringent documentation forms, issues related with visa endorsement and limited protection scope are hindering the growth of the market. Developing countries with evolving innovation and technology are fueling the market. Major destinations for medical tourism in the region include South Korea, Barbados, Iran, South Africa and the UAE.