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Medical Tourism Market to record USD 16.88 Bn growth — Technavio’s report identifies North America as key growth region


The global medical tourism market is fragmented due to high product penetration and brand building. The competition in the market is expected to intensify over the forecast period with an increase in product or service extensions, technological innovations, M&As, and joint ventures. The lack of a strong distribution network can limit the entry of new players. Hence, vendors must expand geographically while reviving domestic demand to achieve sustained growth.

The availability of low-cost treatment options has been instrumental in driving the growth of the market. However, the lack of advanced infrastructure in developing nations might hamper market growth. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Technavio identifies Anadolu Medical Center, Asian Heart Institute, Asklepios Kliniken GmbH and Co. KGaA, Bangkok Dusit Medical Services Public Co. Ltd., Bumrungrad Hospital Public Co. Ltd., Clemenceau Medical Center, Cleveland Clinic, Fortis Healthcare Ltd., Prince Court Medical Centre Sdn Bhd, and The Johns Hopkins Health System Corp. as some of the dominant players in the global medical tourism market. Download a Sample Report Now

Segmentations in Medical Tourism Market Study

The global medical tourism market is segmented as below:

  • Treatment Type
    • Cardiovascular Treatment
    • Cosmetic Treatment
    • Fertility Treatment
    • Orthopedics Treatment
    • Others

The cardiovascular treatment segment will have the largest share of the market. The segment is mainly driven by the increasing prevalence of cardiovascular led by a rise in the number of risk factors such as rheumatic heart disease, hypertension, obesity, and diabetes. In addition, the increased vendor focus on providing cost-effective devices will have a positive impact on the growth of the segment.

  • Geography
    • North America
    • APAC
    • Europe
    • MEA
    • South America

The medical tourism market is growing steadily in North America. The region will account for 32% of the market share during the forecast period. The wide availability of high-quality healthcare facilities in the US and Canada is driving the growth of the regional market. In addition, the increasing awareness and the affordability of medical services in Mexico will positively influence the growth of the medical tourism market in North America during the forecast period.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The medical tourism market report covers the following areas:

Medical Tourism Market 2021-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will assist medical tourism market growth during the next five years
  • Estimation of the medical tourism market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the medical tourism market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of medical tourism market vendors

Related Reports:

Medical Tourism Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 16.04%

Market growth 2021-2025

USD 16.88 billion

Market structure

Fragmented

YoY growth (%)

22.93

Regional analysis

North America, APAC, Europe, MEA, and South America

Performing market contribution

North America at 32%

Key consumer countries

US, South Korea (Republic of Korea), Turkey, Thailand, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Anadolu Medical Center, Asian Heart Institute, Asklepios Kliniken GmbH and Co. KGaA, Bangkok Dusit Medical Services Public Co. Ltd., Bumrungrad Hospital Public Co. Ltd., Clemenceau Medical Center, Cleveland Clinic, Fortis Healthcare Ltd., Prince Court Medical Centre Sdn Bhd, and The Johns Hopkins Health System Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 – 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Treatment type

  • Market segments
  • Comparison by Treatment type
  • Cardiovascular treatment – Market size and forecast 2020-2025
  • Cosmetic treatment – Market size and forecast 2020-2025
  • Fertility treatment – Market size and forecast 2020-2025
  • Orthopedics treatment – Market size and forecast 2020-2025
  • Others – Market size and forecast 2020-2025
  • Market opportunity by Treatment type

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2020-2025
  • APAC – Market size and forecast 2020-2025
  • Europe – Market size and forecast 2020-2025
  • MEA – Market size and forecast 2020-2025
  • South America – Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Anadolu Medical Center
  • Asian Heart Institute
  • Asklepios Kliniken GmbH and Co. KGaA
  • Bangkok Dusit Medical Services Public Co. Ltd.
  • Bumrungrad Hospital Public Co. Ltd.
  • Clemenceau Medical Center
  • Cleveland Clinic
  • Fortis Healthcare Ltd.
  • Prince Court Medical Centre Sdn Bhd
  • The Johns Hopkins Health System Corp.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio



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