Medical Tourism Market: Factors Driving Growth and Overcoming Challenges to Achieve USD 273.72 Billion by 2027

Allied Market Research has published a study report with the title Medical Tourism Market Size was Valued at USD 104.68 billion in 2019 and is Projected to Garner USD 273.72 billion by 2027, registering a CAGR of 12.8% from 2020 to 2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

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.

𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐟𝐚𝐜𝐭𝐨𝐫𝐬 𝐝𝐫𝐢𝐯𝐢𝐧𝐠 𝐭𝐡𝐞 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.

𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐆𝐫𝐚𝐩𝐡𝐬 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/request-sample/454

𝐓𝐨𝐩 𝐌𝐞𝐝𝐢𝐜𝐚𝐥 𝐓𝐨𝐮𝐫𝐢𝐬𝐦 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬

• 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.

𝐌𝐞𝐝𝐢𝐜𝐚𝐥 𝐓𝐨𝐮𝐫𝐢𝐬𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:-

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.

𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/purchase-enquiry/454

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 coming years?
• What are the trends of this market?
• Which are main factors responsible for new product launch?
• How big is the global & regional market in terms of revenue, sales and production?
• How far will the market grow in forecast period 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?
• How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
• Which region has more opportunities?

By Region Outlook

• North America
(U.S., Canada, Mexico)
• Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)
• LAMEA
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

David Correa
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.