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Medical Tourism Market – Latest Trends 2021: Global Industry Size and Challenges, Business Growth Insights, Competitive Landscape and Regional Forecast to 2024

Medical Tourism

This “Medical Tourism Market” report provides a thorough analysis of estimating market size and current trends of industry. The report evaluates the important characteristics of the market development status, upcoming opportunities, and growth rate. The research study diminishes the risks involved in making decisions as well as strategies for companies and individuals interested in the industry. The report includes details of emerging trends, growth history, sales channel, manufacturers profiled in business, market share of product, application and regional scope of industry.

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Market Overview:

  • The global medical tourism market was valued at USD 16,761 million in 2018, and it is expected to reach USD 27,247.6 million by 2024, while registering a CAGR of 8.5% during the forecast period, 2019-2023. The factors associated with the growth of the market include higher treatment cost in developed countries, availability of the latest medical technologies, growing compliance on international quality standards, high quality of service, health insurance portability, and advertising and marketing of the medical tourism.
  • The cost of undergoing medical treatment in a developed country is very high. It is estimated that although the treatments are of reliable quality, the procedures tend to be on the expensive side. Along with this, the major healthcare products are also quite extravagantly priced. This scenario places a big burden on the healthcare systems, worldwide, accompanied by the additional rising costs of litigation during recent times. Healthcare practitioners need to be aware of both the direct and indirect costs and consider how the implementation of prevention protocols may offer cost savings in the longer term. People in developed countries cannot afford the huge expenditure associated with medical treatments. Not all medical bills are covered by insurance companies, which makes the patients turn to countries abroad. Countries in Asia, the Middle East, and South America provide high-quality medical services at a much lower rate, as compared to the developed economies. There are companies that cater to all the medical and non-medical needs of the tourist during their travel.

    Medical Tourism Market Covers Manufacturers:

  • Medretreat
  • Healthbase
  • Apollo Hospitals
  • KPJ Healthcare Behard
  • Klinikum Medical Link
  • Euromedical Tours
  • BB Health Solutions
  • Cosmedic Travel

    Scope of the Report:

    As per the , medical tourism is an improvement of the healthcare system, which provides quality medical care to people seeking treatment. Patients travel to other countries for obtaining good medical treatment.

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    Some of the Key Questions Answered in this Report:

    • Detailed Overview of Medical Tourism Market will help deliver clients and businesses making strategies.
    • Influencing growth factors that are thriving demand and latest trends running in the market.
    • Medical Tourism Market forecast for global market split into segments like region, product, applications, end-user, technology, etc.
    • What trends, challenges and barriers will impact the development and sizing of the Global Medical Tourism Market?
    • SWOT Analysis of each defined key player along with its profile and Porter’s five forces analysis to complement the same.
    • What is the Medical Tourism Market growth momentum or market carries during the forecast period?
    • Which region may tap the highest market share in the coming era?
    • Which application/end-user category or Product Type may seek incremental growth prospects?
    • What focused approach and constraints are holding the Medical Tourism Market demand?

    Key Market Trends:

    Fertility Treatments Segment Expected to Have Highest CAGR

    The fertility treatments segment of the medical tourism market is believed to show the fastest growth over the forecast period. The segment is expected to record a CAGR of 9.7% over the forecast period. Fertility treatment is one of the most common treatments for which medical tourists elect to travel across international borders. Fertility tourism or reproductive tourism is one of the fastest-growing areas.

    About 20,000 to 25,000 couples annually seek assisted reproductive technology services abroad. An estimated 4.0% of European Union citizens receive treatment in other countries. Fertility treatment procedures are regulated in most European countries.

    Asia-Pacific Currently Dominates the Market

    The Asia-Pacific region currently dominates the medical tourism market and it is expected to continue its stronghold for a few more years. This region is expected to increase its market share in the future, owing to the raised preference of medical tourism across the developing countries of this region. China holds the majority of the market in the Asia-Pacific region. This is due to the lower cost of the treatment in China and the better healthcare services provided.

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    Target Audience of Medical Tourism Market:

    • Manufacturer / Potential Investors
    • Traders, Distributors, Wholesalers, Retailers, Importers and Exporters.
    • Association and government bodies.

    Key Reasons to Medical Tourism Market Report:

    • Analysing various perspectives of the Medical Tourism market with the help of Porter’s five forces analysis
    • The End User that is expected to dominate the Medical Tourism market is analyzed in detail
    • The regions which are expected to witness fastest growth during the forecast period are analyzed and estimated for growth of Medical Tourism market.
    • Identify the latest developments, market shares and strategies employed by the major market players.
    • Regional analysis of Medical Tourism market studied, during the forecast period
    • The segments that are expected to dominate the Medical Tourism market studied.

    Detailed TOC of Medical Tourism Market Report 2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 High Treatment Cost in Developed Countries
    4.2.2 Availability of Latest Medical Technologies
    4.2.3 Growing Compliance on International Quality Standards
    4.2.4 High Quality of Service
    4.2.5 Health Insurance Portability
    4.2.6 Advertising and Marketing
    4.3 Market Restraints
    4.3.1 Ethical Concerns
    4.3.2 Epidemic Outbreaks
    4.3.3 Issues with Patient Follow Up and Post-procedure Complications
    4.3.4 Medical Record Transfer Issues
    4.4 Industry Attractiveness of Porter’s Five Forces Analysis

    5 MARKET SEGMENTATION
    5.1 By Treatment Type
    5.1.1 Cosmetic Treatment
    5.1.2 Dental Treatment
    5.1.3 Cardiovascular Treatment
    5.1.4 Orthopedics Treatment
    5.1.5 Bariatric Surgery
    5.1.6 Fertility Treatment
    5.1.7 Ophthalmic Treatment
    5.1.8 Other Treatments
    5.2 Geography
    5.2.1 North America
    5.2.1.1 United States
    5.2.1.2 Canada
    5.2.1.3 Mexico
    5.2.2 Europe
    5.2.2.1 France
    5.2.2.2 Germany
    5.2.2.3 United Kingdom
    5.2.2.4 Italy
    5.2.2.5 Spain
    5.2.2.6 Rest of Europe
    5.2.3 Asia-Pacific
    5.2.3.1 China
    5.2.3.2 Japan
    5.2.3.3 India
    5.2.3.4 Australia
    5.2.3.5 South Korea
    5.2.3.6 Rest of Asia-Pacific
    5.2.4 Middle East & Africa
    5.2.4.1 GCC
    5.2.4.2 South Africa
    5.2.4.3 Rest of Middle East & Africa
    5.2.5 South America
    5.2.5.1 Brazil
    5.2.5.2 Argentina
    5.2.5.3 Rest of South America

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Medretreat
    6.1.2 Healthbase
    6.1.3 Apollo Hospitals
    6.1.4 KPJ Healthcare Behard
    6.1.5 Klinikum Medical Link
    6.1.6 Euromedical Tours
    6.1.7 BB Health Solutions
    6.1.8 Cosmedic Travel

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

    For Detailed TOC Click Here

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