Fun

Metaverse set to revolutionize $54B medical tourism market: Research

News Feed - 2024-04-09 03:04:37

Tristan Greene5 hours agoMetaverse set to revolutionize $54B medical tourism market: ResearchThe metaverse has found substantial footing in the medical industry with the advent of dedicated facilities catering to remote healthcare.561 Total viewsListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe metaverse — a loose term describing interconnected digital worlds navigable by humans virtually, with no technical regard to geography — is set to upend the medical tourism industry. 


Recent analysis from industry experts at Omnia Health, the Iranian Journal of Public Health, and Medical Tourism Magazine shines a light on how nascent telemedicine technology built on the metaverse concept can onboard and streamline patient acquisition and improve patient satisfaction for medical tourists.


Medical tourism is a form of travel in which patients leave their home country to pursue medical treatments in foreign territories. This can be done for quality reasons, if patients believe they can receive better care outside of their home, for financial reasons to help mitigate the costs of local healthcare, or for myriad other reasons.


In 2022, a team of researchers from Shiraz University of Medical Sciences in Shiraz, Iran penned an op-ed in the Iranian Journal of Public Health explaining the benefits of preparing patients for medical tourism via the metaverse.


“Becoming familiar with the tourist attractions of the destination city or country through Metaverse can raise potential tourists’ enthusiasm and excitement to decide for this medical travel,” the researchers wrote, adding that “moreover, Meta-based simulation of the hospital environment can increase patients’ awareness and experiences of the environment that awaits them, thereby reducing their stress, helping them feel more secure, and leading to a better doctor-patient relationship and a higher rate of patient satisfaction.”


According to a report by Omnia Health, the medical tourism industry was worth approximately $54 billion in 2020. The COVID-19 pandemic had a slowing effect on the industry’s growth, however, and in 2024, it’s valued at approximately $47 billion. A report from Statista indicates that it’s forecasted to grow to over $111 billion before the end of the decade. This indicates a compound annual growth rate of 19.58%.


In October 2022, the Thumbay Hospital network launched what appears to be the first fully functional metaverse hospital featuring patient services and fees in cryptocurrency.


Related: Average daily active unique wallets reach 7M# Business# Adoption# Metaverse# Medicine# Web3Add reaction

News Feed

Helen Partz13 hours agoBinance head of product quits as executive exodus continuesBinance product lead Mayur Kamat says he is passing the baton to “next-gen leaders” to take some time off after years of product work.
South African Court Grants Order to Liquidate Mirror Trading International After Investors Fail to Withdraw Their BTC
South African Court Grants Order to Liquidate Mirror Trading International After Investors Fail to Withdraw Their BTC A South African High Court recently granted
David Attlee13 hours agoEl Salvador Bitcoin ATM network to receive Lightning Network upgradeAthena Bitcoin plans to integrate the Lightning Network into 100 of its machines in the next couple of months.2283 Total views94
Huobi Global Acquires Latin American Crypto Exchange Bitex
Huobi Global Acquires Latin American Crypto Exchange Bitex The digital currency exchange Huobi Global has revealed it has acquired Bitex, a Latin American crypto platform that oper
How ETFs are reshaping the crypto markets
Marco Castrovilli7 hours agoHow ETFs are reshaping the crypto marketsIn Cointelegraph’s latest video, experts discuss the impact of the spot Bitcoin ETF approvals on the crypto markets and the potential for a spot Ethe
Singapore Allows Crypto Companies to Operate Without a License for 6 Months
Singapore Allows Crypto Companies to Operate Without a License for 6 Months The Monetary Authority of Singapore has granted an exemption from holding a license to a number of cry
Ripple Announces $1.25B Acquisition Of Hidden Road To Set Major Milestone
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Dragon Age Lead Producer Out as EA's BioWare Keeps Bleeding
TwitterFacebookLinkedInBioWare suffered another blow with the departure of its next big title"s lead producer, Fernando Melo. Maybe they should part ways with EA. | Photo by Matt Sayles/Invision for Microsoft/AP Images
Ezra Reguerra13 hours agoPlatypus DeFi loses $2.2M in another flash loan exploitThe attack marks the third time Platypus has been exploited in 2023, with one incident taking $8.5 million in February and another taking $1
Russia legalizes Bitcoin and cryptocurrency mining
Vince Quill4 hours agoRussia legalizes Bitcoin and cryptocurrency miningRussia explores other forms of international trade settlement following US sanctions blocking it from the SWIFT interbank messaging system.3291 Tota
David Attlee23 hours agoUK must loosen KYC demands for crypto to outpace US in Web3 — Think tankPolicy Exchange published its report on Web3 containing 10 proposals for the U.K. government.1995 Total views70 Total shar
Crypto exchange insurance funds surge more than $1B amid bull market
Zhiyuan Sun5 hours agoCrypto exchange insurance funds surge more than $1B amid bull marketMany crypto exchanges hold Bitcoin as part of their user insurance fund, which has since appreciated significantly in value.1005 T