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Medical Tourism Market Forecast 2027 By Top Players Asklepios, KPJ Healthcare Bhd, Fortis Healthcare, Apollo Hospitals

05-04-2021 06:31 AM CET | Health & Medicine

Press release from: Global Market Insights, Inc

Medical Tourism Market Forecast 2027 By Top Players Asklepios,

Medical Tourism Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Every year millions of people travel abroad seeking medical treatment and efficient surgical procedures such as cosmetic surgery, cardiovascular surgery, orthopedic and dental surgery which is referred to as ‘medical tourism’. The major reasons driving the trend of medical tourism are availability of advanced treatment procedures and medical equipment with cutting-edge technologies across several developed countries as well as cost-effective treatment options with uncompromising efficiency across developing countries. This is likely to bring massive traction to global medical tourism market over the coming years. According to a recent report by Global Market Insights, Inc., medical tourism market size is projected to surpass USD 37.2 billion by 2027 with a robust CAGR of 12.1% over the analysis timeline.

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Top Industry Players -

Asklepios Kliniken GmbH,
KPJ Healthcare Berhad,
Apollo Hospitals,
Fortis Healthcare and
Bumrungrad International Hospital
An overview of the prominent segments that are likely to propel the business space is outlined as below:

Based on application bifurcation, cardiovascular surgery segment had secured a significant market share of over 14.0% in the past and is projected to register substantial gains over the upcoming years. The growth can be credited to increasing prevalence of coronary artery diseases in the U.S. This is majorly due to the increasing consumption of unhealthy diet and habits such as lack of physical exercise. As per American Heart Association (AHA) statistics of 2017, every year, around 90 million people in the U.S. suffer from coronary heart disease. Moreover, the cost of cardiovascular surgeries in the U.S. is around USD 125,000. However, this cost is considerably lower in emerging countries such as India where the cardiovascular surgeries cost around USD 5,500 to USD 9,500. In addition, the effectiveness and quality of cardiovascular surgeries are highly proficient. Such factors have positively influenced medical travel to developing countries.

Based on the regional outlook, medical tourism market in North America is estimated to observe a robust CAGR of 8.6% through 2027 owing to the availability of enhanced treatment procedures and high-tech medical devices. Majority of surgical procedures and medical equipment are largely launched in the U.S. and Canada which makes North America a prime avenue for medical treatments. Further, presence of highly qualified healthcare professionals in Canada is likely to have positive influence on medical tourism. Besides, the presence of various major manufacturers in the region is anticipated to further enhance the business space. In addition, patient base from emerging countries who have higher spending capabilities prefer getting their treatments in countries such as the U.S. and Canada due to the availability of advanced and rare oncology procedures.

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Medical Tourism Market, By Application

Cardiovascular surgery
Cosmetic surgery
Hair transplant
Breast augmentation
Dental surgery
Orthopedic surgery
Bariatric surgery
Fertility treatment
Oncology treatment
Partial Chapter of the Table of Content

Chapter 2 Executive Summary

2.1 Medical tourism industry 360° synopsis, 2016-2027

2.1.1 Business trends

2.1.2 Application trends

2.1.3 Regional trends

Chapter 3 Medical Tourism Industry Insights

3.1 Industry segmentation

3.2 Industry landscape, 2016 - 2027

3.3 Industry impact forces

3.3.1 Growth drivers Low cost of medical treatment in developing countries Rising awareness about medical tourism among patients Availability of high-quality treatment in developing countries Growing compliance towards international standard for surgical procedures Ease and affordability of international travel Various government policies to ease medical travel

3.3.2 Industry pitfalls & challenges Long wait time for certain medical procedures Issue with patient follow-up and post-surgery complications

3.4 Growth potential analysis

3.4.1 By application

3.5 COVID-19 impact analysis

3.5.1 Impact of COVID-19 on major markets Overview U.S. Germany France Spain Italy Turkey India Singapore Malaysia Mexico

3.5.2 Impact of COVID-19 on industry segments, by 10 major markets (2020) Cardiovascular Surgery Cosmetic Surgery Bariatric Surgery Fertility Treatment

3.6 Porter's analysis

3.7 Competitive landscape, 2020

3.7.1 Company matrix analysis

3.8 PESTEL analysis

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Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688

About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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