Medical Tourism Market 2022 Size Major Key Players, Current Trends Analysis and Forecast to 2027

Astute Analytica publishes a research report on the global medical tourism market. The analysis report contains in-depth data about demand, growth, opportunities, challenges, and restraints. In addition, it provides a thorough examination of the structure and possibility of global and regional industries.

Astute Analytica's report on the global Medical Tourism Market foresees exponential growth in terms of revenue and growth rate. The Medical Tourism Market is projected to grow from US$ $$ Million in 2021 to US$ $$ Million by 2027 by registering a tremendous compound annual growth rate (CAGR) of 12% during the forecast period 2022 to 2027.

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Segmental Analysis:

The segmentation section of the report focuses on every segment, along with highlighting the ones having a strong impact on the global Medical Tourism Market. The segmentation served as the foundation for finding businesses and examining their financial standings, product portfolios, and future growth potential. The second step entailed evaluating the core competencies and market shares of top firms in order to predict the degree of competition. A bottom-up method was used to assess the market's overall size.

Customization of the Report:

This report can be customized to meet the client's requirements. Please connect with our sales team (sales@astuteanalytica.com), who will ensure that you get a report that suits your needs. You can also get in touch with our executives on +18884296757 to share your research requirements.

People and economies globally rely substantially on the healthcare business. It is one of the fastest-growing industries. There is a correlation between income levels and healthcare spending in different nations, with healthcare spending accounting for more than 10% of most industrialized countries' GDP.

The Centers for Medicare and Medicaid Services data calculates that the U.S. national healthcare expenditure reached US$ 4.1 trillion in 2020 and is forecast to surpass US$ 6.2 trillion by 2028. According to the Commonwealth Fund, the U.S. spent nearly 17% of gross domestic product (GDP) on healthcare in 2018. Switzerland was the second-highest-ranking country, spending 12.2%. In addition, New Zealand and Australia dedicate only 9.3%.

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Regional Analysis:

According to the United States, Bureau of Labor Statistics, healthcare employment is likely to grow 16% from 2020 to 2030, much faster than the average for all occupations, with about 2.6 million new jobs. This projected increase is primarily due to an aging population, which indicates a higher demand for healthcare services. In May 2021, the median annual wage for healthcare practitioners and technical sectors (such as registered nurses, physicians and surgeons, and dental hygienists) was US$ 75,040, which was higher than the economy's median annual wage of US$ 45,760.

The European legislature and decision-makers should be aware that EU health systems are facing challenges arising from an aging population, citizens' rising expectations, migration, and mobility of patients and health care professionals. Statista data shows the number of individuals employed in Europe's hospitals in 2019. In 2019, there were more than 1.5 million people employed in hospitals in the UK, the largest number in Europe.

Impact Analysis of COVID-19:

Global COVID-19 cases have climbed above 516 million as of May 2022, and the death toll has exceeded 6.25 million. COVID-19 has disproportionately impacted specific racial and ethnic minority groups, as well as underserved and marginalized communities, highlighting the persistent challenges of health equity and health outcomes.

COVID-19 is causing a great deal of emotional, physical, and professional stress among health care personnel. The changing attitudes and behaviors of consumers, the integration of life sciences and health care, fast-growing digital health technology, new talent, and care delivery models, and clinical innovation advanced by COVID-19.

As sector players and the customers, they serve to adapt to a new world of remote working, virtual doctor visits, and a supply chain plagued by shortages of medical goods, employees, and services, the sector is reforming to become more customer-centric.

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About Astute Analytica:

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This release was published on openPR.