Barbados Healthcare & Medical Tourism Market Projected To Grow At A CAGR Of 6.0% From 2023 To 2030Posted by Neha Bora on July 25th, 2023 San Francisco, 25 July 2023: The Report Barbados Healthcare & Medical Tourism Market Size, Share & Trends Analysis Report By Specialty Type (General Surgery, Orthopedics, Cardiology, Fertility & Gynecology, Cosmetics), And Segment Forecasts, 2023 - 2030 The barbados healthcare & medical tourism market size is expected to reach USD 649.7 million by 2030, exhibiting a CAGR of 6.0% during the forecast period, according to a new report by Grand View Research, Inc. Barbados is recognized in the Eastern Caribbean for its superior medical facilities, which include facilities for decompression chambers, open heart surgery, and dialysis centers. It is a highly popular tourist destination with a large English-speaking resident population and is rapidly gaining popularity as a medical tourism destination. Since 2002, the JCI-accredited Barbados Fertility Center has attracted international fertility patients. As patients from the U.S., U.K., and Canada seek treatment from physicians in Barbados, its medical tourism sector is expected to expand rapidly. The country invests more in public and private healthcare than any other country in the Caribbean and Central America. Every citizen is entitled to universal health coverage. Approximately 65% of healthcare institutions are administered by the public sector. The remaining 35% of the healthcare facilities are private. Successive governments have prioritized healthcare expenditures to the extent that Barbados is one of the region's highest spenders per capita. The government has also led numerous attempts to promote medical tourism in the country. The Barbados Fertility Centre benefited from the extension of the Tourism Development Act, which permits the duty-free importation of medical equipment. In addition, the government enabled the clinic to use Barbados in its facility name, a marketing advantage generally reserved for publicly held corporations. The COVID-19 pandemic negatively impacted the medical tourism industry of the country. Long-stay and cruise ship arrivals decreased by 71% and 66%, respectively, as a result of COVID-19 restrictions in major international source markets. Further, an increase in domestic and foreign COVID-19 cases, as well as the emergence of new, more contagious variations, worsened the outlook for the tourism industry in the first half of 2021, forcing additional lockdowns or limitations to prevent the virus's spread. As a result, the tourism industry experienced a decline of 78.6% from 2019 to 2020. Access Research Report of Barbados Healthcare & Medical Tourism Market @ https://www.grandviewresearch.com/industry-analysis/barbados-healthcare-medical-tourism-market-report Barbados Healthcare & Medical Tourism Market Report Highlights
Barbados Healthcare & Medical Tourism Market Report Scope
List of Key Players in the Barbados Healthcare & Medical Tourism Market
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