Comprehensive Analysis on Medical tourism Market Size with Key Players: Apollo Hospitals Enterprise Limited, Asklepios Kliniken GmbH & Co. KGaA, Fortis Healthcare Limited and Bumrungrad International Hospital

A recent report compiled by Market Study Report, LLC, on Medical tourism market offers a succinct analysis of the industry size, regional landscape and the revenue forecast pertaining to this vertical. The report further highlights the primary challenges and latest growth strategies embraced by key players that constitute the dynamic competitive spectrum of this business domain.

Medical tourism Market will reach USD 29 billion by 2024; as per a new research report.

Increasing demand for medical tourism will lead to industry growth in the future. High demand is attributable to low cost surgeries offered in developing countries without any compromise in the quality or effectiveness of the procedure. Growing promotional activities undertaken by various government positive impact on demand for medical tourism, thereby driving business growth during the projected timeframe.

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Prominent industries involved in medical tourism market are Apollo Hospitals Enterprise Limited, Asklepios Kliniken GmbH & Co. KGaA, Fortis Healthcare Limited and Bumrungrad International Hospital. These key industry players focus on strategies such as opening of new facilities, mergers and joint ventures to strengthen market position. For instance, in In July 2018, Fortis Healthcare approved investment proposal from IHH Healthcare. This partnership will provide Fortis Healthcare with new opportunities to expand business and strengthen its Market presence.

Ease and affordability of international travel will drive demand for medical tourism market throughout the projected timeframe. Many travel and airline companies provide assistance and economic benefits to various patients travelling to foreign countries for medical purposes. Increasing preference of patients in developed countries for availing medical treatments in foreign countries will foster industry growth in the future.

Cardiovascular surgery market will show significant growth rate of 7.5% during the projected timeframe, owing to increasing prevalence of various cardiological diseases. According to World Health organization, in 2018, cardiovascular diseases were the major reason for mortality rate across the globe. With availability of advanced cardiovascular surgeries in developing nations at low cost, the demand for cardiovascular treatment will increase among medical tourists.

UAE medical tourism market accounted for revenue of USD 470.8 million in 2017, owing to increasing demand for orthopedic procedures by foreign patients. Government initiatives such as development of Dubai Health Experience (DXH) tourism portal will ease medical travel of foreign patients to Dubai. Various government efforts to develop healthcare infrastructure will promote medical tourism business growth in the future.

Colombia medical tourism market will grow at the rate of 11.3% CAGR across the projected timeframe owing to rising number of foreign patients visiting the country. Majority of the foreign patients visiting country are attracted to wide portfolio of cosmetic surgeries offered by highly competent and qualified medical personnel. Presence of well-established healthcare infrastructure focused on cosmetic surgery will propel industry growth in the future.

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