Medical Tourism Market is Set to Grow at a CAGR of 13.0% Leading to a Revenue of US$ 72.8 Billion by 2031 | Get In-Depth Studies by Transparency Market Research

The global market for 𝐦𝐞𝐝𝐢𝐜𝐚𝐥 𝐭𝐨𝐮𝐫𝐢𝐬𝐦 experienced substantial growth, starting at US$10.4 billion in 2021 and is forecasted to maintain a robust trajectory, with a projected Compound Annual Growth Rate (CAGR) of 13.0% from 2022 to 2031, culminating in an estimated value exceeding US$72.8 billion by 2031.

This expansion is attributed to factors such as the burgeoning elderly population and the widespread adoption of advanced medical technologies. With the elderly demographic expected to double in the U.S. by 2050, there's a pressing need for accessible and cutting-edge healthcare services, fueling the demand for medical tourism. Additionally, economic challenges in developed nations have prompted individuals and stakeholders, including patients, insurers, and employers, to seek cost-effective medical solutions abroad, further propelling the global medical tourism industry forward.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅:
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𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

Fortis Healthcare, Apollo Hospitals Enterprise Ltd., Bangkok Chain Hospital Public Company Limited, Hamad Medical Corporation, Bumrungrad International Hospital, KPJ Healthcare Berhad, Manipal Health Enterprises Pvt. Ltd., Raffles Medical Group, and Jordan Hospital

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐏𝐫𝐨𝐜𝐞𝐝𝐮𝐫𝐞 𝐓𝐲𝐩𝐞

Cardiac
Orthopedic
Cancer
Gynecological
Neurological & Spinal
Cosmetic Surgery
Dental Treatment
Others

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Asia Pacific dominated the global medical tourism market in 2021, commanding over 75% share due to advanced medical specialties, relaxed regulations, and attractive locations. Thailand and India are internationally recognized for top-notch medical services, while Singapore excels in complex procedures.

In Europe, the Middle East, and Africa (EMEA), the market is poised to grow at a 12.2% CAGR from 2022 to 2031, driven by economic growth and increased healthcare spending. Turkey emerges as a competitive healthcare destination, capitalizing on its strategic location and the surge in demand for cosmetic surgery. Latin American countries like Brazil and Mexico are favored by U.S. patients due to proximity and cultural affinity.

𝐊𝐞𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬:

In October 2021, BC Platforms (BCP), a global leader in healthcare data management and analytics, expanded its partnership with Thailand's Bumrungrad International Hospital to accelerate precision medicine adoption in Southeast Asia

In July 2018, Fortis Healthcare, a leading healthcare provider with over 20 hospitals, 4,000 operational beds, and 400 diagnostics centers in India, approved IHH Healthcare's investment proposal. This collaboration strengthened its market position and provided Fortis Healthcare with new growth opportunities.

𝐏𝐥𝐚𝐜𝐞 𝐚𝐧 𝐎𝐫𝐝𝐞𝐫 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
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𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

Emerging trends in the medical tourism market include the rise of telemedicine, personalized healthcare services, and the integration of artificial intelligence (AI) and big data analytics. These trends are reshaping the patient experience and enhancing the efficiency of healthcare delivery.

𝐅𝐮𝐭𝐮𝐫𝐞 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:

The future of the medical tourism market looks promising, with continued expansion expected across regions. As healthcare systems evolve and technology continues to advance, the market will witness innovations in treatment modalities, patient care, and healthcare management.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲 𝐏𝐨𝐢𝐧𝐭𝐬:

Key market study points include analyzing consumer preferences, understanding market dynamics, assessing regulatory frameworks, and identifying emerging market trends. Additionally, conducting thorough market research and competitor analysis is crucial for stakeholders to stay ahead in this competitive landscape.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐌𝐑:

𝐀𝐜𝐭𝐢𝐯𝐞 𝐎𝐩𝐭𝐢𝐜𝐚𝐥 𝐂𝐚𝐛𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/05/17/2671206/0/en/Active-Optical-Cable-Market-is-Anticipated-to-Hold-a-Share-of-US-14-2-billion-by-2031-Says-Transparency-Market-Research.html

𝐀𝐧𝐢𝐦𝐚𝐥 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/05/17/2671006/0/en/Animal-Healthcare-Market-Projected-to-Surpass-USD-63-Bn-by-2028-Global-Analysis-by-Transparency-Market-Research.html

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

Nikhil Sawlani
Transparency Market Research Inc.
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