The global medical tourism market accounted for $104.68 billion in 2019, and is projected to reach $273.72 billion by 2027, registering a CAGR of 12.8% from 2019 to 2027 in terms of value. In terms of volume, the global medical tourism market accounted for 23,042.90 thousand patients in 2019, and is projected to reach 70,358.61 thousand patients by 2027, registering a CAGR of 15.0% from 2019 to 2027.
The growth of the global medical tourism market is majorly driven by affordability and accessibility of quality healthcare services along with assistance from tourism departments and local governments. In addition, the availability of the latest medical technologies in medical tourism hubs across the globe is expected to fuel market growth. However, lengthy, partial reimbursement by payers and difficulties associated with travel, language barriers, availability of documentation, and VISA approval issues act as key restraints of the global market. Conversely, a wider hospital network under insurance coverage for cashless transactions is expected to serve as a remunerative opportunity for the expansion of the global medical tourism market during the period.
The report segments the market into treatment type and region. On the basis of treatment type, the market is segregated into dental treatment, cosmetic treatment, cardiovascular treatment, orthopedic treatment, neurological treatment, cancer treatment, fertility treatment, and others. Region wise, the medical tourism market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The report provides extensive competitive analysis and profiles of key market players such as 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, and Wooridul Spine Hospital.
KEY BENEFITS FOR STAKEHOLDERS
- This report entails a detailed quantitative analysis of the current market trends from 2019 to 2027 to identify the prevailing opportunities.
- Medical tourism market size and estimations are based on a comprehensive analysis of the key developments in the industry.
- In-depth analysis based on region assists to understand the regional market and the strategic business planning.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global market.
Key Market Segments
By Treatment Type
- Dental Treatment
- Cosmetic Treatment
- Cardiovascular Treatment
- Orthopedic Treatment
- Neurological Treatment
- Cancer Treatment
- Fertility Treatment
- Other Treatments
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- India
- China
- Indonesia
- Singapore
- Malaysia
- Thailand
- South Korea
- Taiwan
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Venezuela
- Costa Rica
- UAE
- South Africa
- Rest of LAMEA
List of key players profiled in the report
- 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
LIST OF OTHER PLAYERS IN THE VALUE CHAIN (These players are not profiled in the report. The same will be included on request.)
- Max Healthcare
- Mount Elizabeth Hospitals
- Narayana Health
Table of Contents
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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