Global medical tourism market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) from 2018 to 2024.
Market Outline: Global Medical Tourism Market
Medical tourism is defined as the travelling across the international boarders to avail the better treatment procedures for certain diseases which may or may not be available in the home country. Medical tourism includes the wide range of healthcare services however, the most commonly preferred services include orthopedic treatment, cancer treatment, fertility treatment, and certain surgeries among others. In the conventional medical tourism, people from developing countries are travelling to developed countries to receive the advanced treatment procedures however, nowadays the people from the developed countries travelling to developing countries due to affordability of the treatment.
Market Dynamics: Global Medical Tourism Market
Increase in the prevalence of chronic diseases such as cancer, neurological and cardiovascular disorders, and grow in number of surgical procedures are drive the global medical tourism market. Moreover, low cost of treatment in developing countries, favorable reimbursement policies increase in the adoption of medical tourism in developed countries, sophisticated healthcare infrastructure, government support for the medical tourism in various countries, collaborations between the hospitals to provide better treatment procedures to the patients, and rise in disposable income are boost the global medical tourism market over the forecast years. However, stringent rules for the documentation process, challenges related to bias approval, issues with the patient fallow-up and post-procedure treatment complications, and communication barriers are hamper the growth of global medical tourism market.
Market Scope: Global Medical Tourism Market
Global medical tourism market is segmented based on treatment type
Based on treatment type, market is segmented into the following:
Middle East and Africa (MEA)
Rest of MEA
Regional Analysis: Global Medical Tourism Market
Geographically, global medical tourism market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America medical tourism market is poised to grow due to presence of skilled professionals in the U.S. and Canada, availability of advanced treatment procedures, advanced healthcare infrastructure are fuel the market. Europe medical tourism market is driving by quality healthcare services at affordability cost, increase in the prevalence of chronic diseases such as cancer in the Europe region, and grow in number of surgical procedures and organ transplant cases are bolster the market. Asia Pacific medical tourism market has prominent share attributed to availability of high quality treatment at affordable costs, development in healthcare infrastructure in India and China, and rise in disposable income are enhance the revenue of market
Competition Assessment: Global Medical Tourism Market
Some of the players in the global medical tourism market include:
Notable Market Developments: Global Medical Tourism Market
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.
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