Medical Tourism Market to Observe Strong Growth Rate at a CAGR of 21.4% till 2023 | Covers Eminent Vendors like Fortis Healthcare, Gleneagles Global Hospitals Group, etc

This MRFR Market Perspective Examines the Historical Trends and Current Scenario of the “Global Medical Tourism Market” to Deliver a Highly Pertinent Growth Forecast. And Registering 21.4% CAGR Along with Top Companies and Mega Trends.

The global medical tourism market can be segmented by treatment type. Its sub-segments are orthopedic/spine treatments, oncology/cancer treatments, cosmetic treatments, cardiovascular/cardiology treatments, dental treatments, neurology/neurosurgery treatments, and fertility/IVF treatments. Cosmetic treatments are drawing in the maximum patients from the developed countries. The segment is growing by leaps and bounds. Almost six times rise can be expected from the segment during the review period. Facial rejuvenation procedures and breast reconstruction are in trend. Getting these treatments done at a cost-friendly destination is driving the market ahead.

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Medical Tourism Market – Summary

Traveling far for medical purposes is something not unheard of. But tourism out of it inevitably creates much interest. The healthcare infrastructure akin to home and a gamut of qualified doctors to assist in recovery can come at a cheaper cost than the usual.

That is what some developing countries such as India are offering and the buzz generated has a lot of takers. Flying on the success of such initiatives, the global medical tourism market is now eyeing a quadruple growth during the forecast period (2017-2023); from a decent USD 70,836.9 million to a staggering USD 226,762.7 million.

Angioplasty in the U.S. costs around a whopping USD 57,000 whereas, in India, the charge is just USD 3,300. The difference is quite astonishing, that too, without compromising much on the healthcare infrastructure. This has led to an exodus of patients from North American countries and Western Europe to developing countries with an almost similar medical set-up.

Medical Tourism Market - Report Overview:

The report covers the latest trends affecting the market to provide the most accurate forecasts and predictions. By correlating the historical data with key market dynamics, our analysts can make highly astute projections. MRFR’s report includes a thorough analysis of the global medical tourism market segmented by treatment type and region.

Trends and opportunities are highlighted coupled with the market share of companies as well as their valuation in the market. It analyzes new revenue sources for players and outlines the various strategies implemented by players.

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Competitive Landscape:

Among many top medical service providers globally, major players are Asklepios Kliniken Verwaltungsgesellschaft mbH (Germany), Fortis Healthcare (India), Gleneagles Global Hospitals Group. (India), Prince Court Medical Centre (Malaysia), Samitivej PCL (Thailand), CHRISTUS MUGUERZA (Mexico), Anadolu Medical Center (Turkey), Bangkok Hospital (Bangkok), Bumrungrad International Hospital (Bangkok), Clemenceau Medical Center (Lebanon), Schoen-Kliniken (Germany), Shouldice Hospital (Canada), and others.

Medical Tourism Market - Regional Outlook:

Region-specific segmentation of the global medical tourism market spans across the Americas, Asia Pacific (APAC), Europe and Middle East & Africa (MEA).

The APAC and the developing regions of the Americas are experiencing significant growth. The APAC is currently, with the lion's share of the market, the frontrunner. Its 43.7% share of 2016 is expected to grow exponentially during the forecast period. Technological advancement and implementation of the state-of-the-art machinery in medical facilities, rising economy, and other factors are engendering the market growth. An astounding CAGR of 22%, with an expected four times upswing in valuation, seals the deal for the region. Eastern and Central Europe are also gaining traction and can spark a significant rise during the forecast period.

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