Medical Tourism Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Medical Tourism Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

  • June 2021 •
  • 140 pages •
  • Report ID: 5889816 •
  • Format: PDF
The global medical tourism market is expected to exhibit strong growth during 2021-2026.

Medical tourism refers to organized travel across countries to receive medical treatment. It usually involves traveling abroad for maintenance, enhancement or restoration of health through advanced healthcare facilities and treatment methods. The services are often availed for elective surgeries and the treatment of various dental, cosmetic, cardiovascular, orthopaedic and neurological diseases, along with other critical ailments, such as cancer. They also enable the patients to receive high-quality treatment and other healthcare facilities at affordable costs.

The thriving medical industry across the globe is one of the key factors driving the growth of the market. Patients are increasingly adopting medical migration, owing to high treatment expenditures for chronic ailments in several developed nations. Furthermore, the availability of state-of-the-art medical facilities at affordable costs in various developing countries is attracting patients from all over the world. Healthcare centers are focusing on providing improved healthcare, innovative medicines, modern devices and personalized care to patients, thereby providing a boost to the market. Additionally, healthcare organizations and centers are also offering comprehensive medical tourism packages to patients, which include all travel-related services ranging from ticket booking to accommodation and medical insurance. Moreover, growing consumer awareness regarding the availability of advanced medical facilities is another factor favoring the market growth. Other factors, including the implementation of favourable government policies promoting the growth of the medical infrastructure and extensive research and development (R&D) activities, are projected to drive the market further. Looking forward, the analyst expects the global medical tourism market to grow at a CAGR of around 10% during the forecast period (2021-2026).

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global medical tourism market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region and treatment type.

Breakup by Treatment Type:
Among these, cosmetic treatment represents the dominant market segment, accounting for the majority of the total market share. Since cosmetic treatments are considered to be elective procedures, their costs are not covered by medical insurance plans. The cost of cosmetic procedures, however, are considerably lower in numerous developing countries, which has impelled individuals to opt for medical tourism in order to access better quality healthcare services at affordable prices.

Cosmetic Treatment
Dental Treatment
Cardiovascular Treatment
Orthopaedic Treatment
Bariatric Surgery
Fertility Treatment
Ophthalmic Treatment
Others

The growth of the medical tourism market are answerable the increasing number of private and government hospital, improvements in healthcare infrastructure and responsible cheaper treatment. It is most important leads of revenue statistics in developing economics to improve their healthcare business. The demand of medical tourism increase in the number of private hospital to improve treatment quality, analysis of personal care, modern technologies are responsible of the growing international patients.

Breakup by Region:
North America
United States
Canada
Asia Pacific
India
China
Indonesia
Thailand
Singapore
Malaysia
South Korea
Taiwan
Europe
Germany
Italy
United Kingdom
Spain
France
Russia
Czech Republic
Latin America
Mexico
Brazil
Costa Rica
Colombia
Middle East and Africa

At present, North America holds the leading position in the market. This can be attributed to the availability of improved medical services in the region, along with the presence of highly qualified medical professionals with expertise in numerous fields, especially in neurology and oncology.

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the medical tourism compaines being Aditya Birla Memorial Hospital, Apollo Hospitals Enterprise Limited, Asian Heart Institute, Barbados Fertility Center, BB Health Solutions., Fortis Healthcare, Healthbase, KPJ Healthcare Berhad, Prince Court Medical Centre, Samitivej, Seoul National University Hospital, UZ Leuven, etc.