Press release
Global Medical Tourism Market is anticipated to reach a staggering USD 65.66 billion by 2029, compared to USD 17.49 billion in 2022, at a remarkable Compound Annual Growth Rate (CAGR) of 20.80% during the forecast period.
Global Medical Tourism Market
Maximize Market Research Pvt. Ltd., a leading market research company based in Pune, India, has released a detailed and insightful market research report on the global Medical Tourism Market. The report highlights the tremendous growth potential of this burgeoning industry, providing valuable insights for businesses and investors seeking to capitalize on the opportunities presented by the medical tourism sector.
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The report highlights the segmentation of the medical tourism market. In 2022, cosmetic treatments accounted for a significant market share, driven by the unavailability of insurance coverage for cosmetic surgeries and the cost advantage of seeking these procedures in other countries. Cancer treatments are also expected to drive growth as patients seek more affordable options.
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What are Global Medical Tourism Market Dynamics?
Several factors are fueling the growth of the medical tourism market. The ease and affordability of international travel, coupled with the allure of superior healthcare services, advanced medical technologies, and better hospitality, are key drivers. Additionally, a lack of adequate insurance coverage in some markets and the growing demand for treatments like gender reassignment, fertility therapy, dental reconstruction, and aesthetic surgery are propelling market expansion.
Furthermore, governments in many countries are recognizing the potential of medical tourism as a lucrative sector for generating revenue. They are enacting favorable legislation and supporting investments in healthcare infrastructure, creating opportunities for partnerships between companies and government bodies. These initiatives are expected to boost the flow of medical wellness services to these regions.
Medical tourism is increasingly witnessing outbound medical travel, leading to the need for follow-up care post-treatment. Teleconsulting and telemedicine have emerged as vital tools to facilitate the recovery of cross-border patients, offering cost-effective and convenient solutions. Government programs and telemedicine services for follow-up care are expected to be significant growth drivers for medical tourism providers.
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What is Global Medical Tourism Market Regional Insight?
North America is expected to witness substantial growth in the medical tourism market during the forecast period. The United States and Canada, known for their significant investments in research and development (R&D), are driving the growth of the regional market. The availability of advanced medical treatments, including neurological, cancer, and cardiac therapies, is attracting both domestic and international patients.
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What is Global Medical Tourism Market Segmentation?
by Treatment type
Cardiovascular treatment
Cancer treatment
Cosmetic treatment
Neurological treatment
Orthopedic treatment
Fertility treatment
Other general treatments
by End User
Food
Diagnostics
Research Laboratories
Point Of Care testing
Others
by Service Provider
Public
Private
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Who are Global Medical Tourism Market Key Players?
1. Fortis Hospital
2. Gleneagles Hospital
3. Asklepios Klink Barmbek
4. Wooridul Spine Hospital
5. Prince Court Medical centre
6. Anadolu Medical Centre
7. Clemenceau Medical centre
8. Raffles Medical Group
9. Bumrungrad International Hospital
10. Bangkok Hospital Medical Center
11. Asian Heart Institute
12. KPJ Healthcare Berhad
13. Samitivej Sukhumvit
14. Apollo Hospitals Enterprise Limited
15. Min-Sheng General Hospital.
16. Fortis Hospitals
17. KTQ International
18. SafeCare
19. Asian Heart Institute
20. KPJ Healthcare Berhad
Table of content for the Global Medical Tourism Market includes:
Global Medical Tourism Market : Research Methodology
Global Medical Tourism Market : Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
Global Medical Tourism Market : Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
Key Offerings:
Past Market Size and Competitive Landscape
Market Size, Share, Size & Forecast by different segment |
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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About Maximize Market Research:
Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.
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