Press release
Medical Tourism Market Size Worth USD 273.72 billion by 2027 | CAGR of 12.8% | Aditya Birla Memorial Hospital, Apollo Hospitals Enterprise Limited, Asian Heart Institute, Barbados Fertility Center
medical-tourism-market
Affordable good quality care, accessible information and care, and support from government agencies and associations fuel the growth of the global medical tourism market. On the other hand, limited coverage, lengthy partial reimbursement by payers, and difficulties related to travel, language barriers, and VISA approval issues impede the market growth. However, overseas promotion offers and wide hospital networks under insurance coverage for cashless transactions usher a plethora of opportunities in the near future.
The ๐๐๐๐ข๐๐๐ฅ ๐๐จ๐ฎ๐ซ๐ข๐ฌ๐ฆ ๐๐๐ซ๐ค๐๐ญ ๐๐ข๐ณ๐ was valued at ๐๐๐ ๐๐๐.๐๐ ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐ข๐ง ๐๐๐๐ and is poised to Reach ๐๐๐ ๐๐๐.๐๐ ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐๐ฒ ๐๐๐๐ witnessing a Growing ๐๐๐๐ ๐จ๐ ๐๐.๐% from 2021 to 2030.
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Covid-19 scenario:
The global medical tourism industry has been through an unprecedented disruption during the Covid-19 outbreak, which resulted in uncertainty in demand for various medical products and industrial applications.
Prolonged lockdown, on the other hand, disrupted the supply chain which affected the manufacturing processesas well as created shortage of raw materials.
China and India, which are amongst the major medical tourism destinations have undergone adverse impact due to the Covid-19 outbreak and country-wise lockdown. Also, travel restrictions and postponement of cross-border travels further affected the medical tourism market.
The government bodies, however, are now initiating to loosen up the regulations, which may assist the industry to recoup soon.
๐๐จ๐ฉ ๐๐๐๐ข๐๐๐ฅ ๐๐จ๐ฎ๐ซ๐ข๐ฌ๐ฆ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ:-
Aditya Birla Memorial Hospital
Apollo Hospitals Enterprise Limited
Asian Heart Institute
Barbados Fertility Center
Fortis Healthcare Limited
KPJ Healthcare Berhad
NTT Medical Center Tokyo
Prince Court Medical Centre
Samitivej PCL
Seoul National University Hospital
Wooridul Spine Hospital
๐๐๐๐ข๐๐๐ฅ ๐๐จ๐ฎ๐ซ๐ข๐ฌ๐ฆ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง:-
Based on technology, the cancer treatment segment accounted for the largest share in 2019, with nearly one-fifth of the global medical tourism market. This is attributed to increase in the number of cross-border travelers seeking quality cancer treatment and reduced cost in different countries. On the other hand, the orthopedic treatment segment is projected to register the highest CAGR of 14.8% during the forecast period. Orthopedic treatment is one of the widely performed services globally. This factor drives the growth of the segment.
Based on region, the global medical tourism market across Asia-Pacific dominated in 2019, with more than one-third of the market. Additionally, the region is also anticipated to manifest the highest CAGR of 13.6% during the forecast period. This is owing to the availability of quality care at relatively low cost of treatments, inexpensive flights, and increase in marketing & online consumer information about the accessibility of medical services. At the same time, the market across North America is expected to grow at a CAGR of 11.4% during the forecast period.
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By Region Outlook
North America
โฆ U.S.
โฆ Canada
โฆ Mexico
Europe
โฆ UK
โฆ Germany
โฆ France
โฆ Italy
โฆ Russia
โฆ Rest of Europe
Asia-Pacific
โฆ China
โฆ Japan
โฆ India
โฆ Australia
โฆ Rest of Asia-Pacific
LAMEA
โฆ Brazil
โฆ UAE
โฆ Turkey
โฆ Saudi Arabia
โฆ Rest of LAMEA
Our Market Research Solution Provides You Answer to Below Mentioned Question:
Which are the driving factors responsible for the growth of market?
Which are the roadblock factors of this market?
What are the new opportunities, by which market will grow in the coming years?
What are the trends of this market?
Which are main factors responsible for new product launch?
How will each segment grow over the forecast period and how much revenue will these segments account for in 2031?
How big is the global & regional market in terms of revenue, sales and production?
Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
Which region has more opportunities?
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