Medical tourists travel internationally to improve their health and access low-cost healthcare services unavailable in their home country. Tourists can receive various medical services, including dental, neurological, or cardiovascular treatments. Medical tourism offers many benefits, including improved hospitality, personalized care, cutting-edge technology, and novel medicines. It also provides better healthcare. The world is becoming more open to utilizing advanced medical technology in surgery, medical devices, and related healthcare. Patients can now access information and communication technology, telemedicine, and telehealth worldwide. As a result, they can consult, book appointments with specialists, and receive high-quality care without hesitation. This has resulted in an increase in inbound tourism to developing North America. In addition, the availability of quality medical structures and lower costs have led to a greater demand for affordable treatment, helping the market grow.
Market Dynamics
The key market players are focusing on the adoption of growth strategies such as partnerships, which is attributed to the growth of the North America outbound medical tourism services market. For instance, in October 2020, Royal Philips,is health technology manufacturing company in U.S., announced a collaboration with Singapore General Hospital (SGH) to establish the Singapore General Hospital Digital and Computational Pathology Center of Excellence. The SGH Center of Excellence aims to advance pathology practice by implementing a fully digital histopathology workflow and deploying Artificial Intelligence (AI) to increase productivity and enhance patient care. Situated within SGH’s Division of Pathology, the centre has use the Philips IntelliSite Pathology Solution to establish ASEAN’s fully digitized histopathology laboratory by maximising its digital skills for primary diagnosis, training and R&D.
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