With 19.1% CAGR, Medical Tourism market to hit USD 98.5 Billion 2030 – Value Chain Analysis, Key Industry Leaders, Regional [India, Malaysia, Thailand, etc.] Overview, Challenges and Future Business Opportunities- Adroit Market Research
Geographically, the Globally, North America has conquered the market for medical tourism. The key aspects of North America’s growth are shifting consumer preferences, and governments promoting their health facilities in emerging consumer are contributing to North America’s growth
Dallas, Texas, Oct. 20, 2022 (GLOBE NEWSWIRE) — Medical tourism has become a common phenomenon over recent decades. Innovative and cutting edge innovations in medical technology have led to increased prominence of medical tourism. The significant element contributing to the growth of medical tourism industry is travel of patient’s overseas seeking medical care and treatment. This is due to shift towards patients from developed countries and richer class travelling to less developed nations to access cheaper health services and low cost treatments.
The global medical tourism market is estimated to reach USD 98.5 Billion by 2030 with a CAGR of 19.1% through the forecast years 2022-2030.
Besides, new infrastructure has enabled affordable, accessible travel, and readily available sources of information have made medical tourism more prominent in the world. Also, private and public business sector have been instrumental in promoting and investing in medical tourism. Medical tourism has more values by government and private investors as potentially lucrative source of foreign revenue. Such developments point towards a positive trend of global medical tourism market.
Global Medical Tourism Market Scope:
Market Size in 2030
USD 98.5 Billion
by Treatment Type, BY Region,
by Treatment Type Covered
Cardiovascular Treatment, Cancer Treatment, Fertility Treatment, Neurological Treatment, Orthopedic Treatment, Cosmetic Treatment, Dental Treatment, Other treatments
North America, Europe, Asia Pacific, South America, Middle East & Africa
Key Players Profiled
Bumrungrad International Hospital, Asian Heart Association, Bangkok Hospital, Samitivej PCL, Yanhee International Hospital, Apollo Hospitals Enterprise Ltd., Fortis Hospital, Artemis Hospitals, Mexicali Bariatric Center, Sunway Medical Centre, NTT Medical Center Tokyo, Singapore Vita Agency, and Wooridul Spine Hospital among other
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Despite extensive interest and coverage, the global medical tourism is affected by various factors. Quality of care, safety, risk, dissatisfaction of patients, unexpected clinical outcomes, and lack of continuity of care are the key factors. Furthermore, privacy and confidentiality, infection, cross-border spread of antimicrobial resistance and dangerous pathogens, inconsistencies in external quality assessment and accreditation are also impacting the growth of global medical tourism market.
However, industry development regulatory regimes, transnational disease patterns, growing patient mobility due to low cost airlines, advancements in medical technology, shifting cultural attitudes, and industry development are key forces anticipated to be a growth opportunity to the global medical tourism market. Also, innovative and pioneering forms of treatment, significant bilateral exchanges between countries, advertising practices, and geo-political shifts are range of other factors that have made the medical tourist industry dynamic and volatile.
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The global medical tourism market is classified into Eye surgery, Organ, cell and tissue transplantation, Fertility, Bariatric surgery, orthopedic surgery, Cardiology, Dentistry, Cosmetic surgery, and others on the basis of type of treatment. Among these, the cosmetic surgery segment is the most prominent segment in medical tourism segment earning highest revenue.
Globally, the market for medical tourism is dominated by North America. The key factors are shifting consumer preferences, and governments promoting their health facilities in emerging consumer are contributing to North America’s growth. Also, attempts are being made to promote the cultural, heritage and recreational opportunities. Interestingly, some destinations have marketed as healthcare city which has made North American countries especially United States more popular in medical tourist industry.
Here Are The Most Innovative And Cutting Edge Trends In Medical Tourism Market:
The recent 5G technology has escalated the advancement in global medical tourism market. The adoption of IR 4.0 technologies is likely to make treatments overseas more affordable and accessible. The expectation is that health records will be easily accessible, secure, and real-time.
Important points from the Table of Contents:
2. Research Methodology
3. Market Outlook
4. Global Thermal Paper Market by Applications, 2019-2029 (USD Billion)
5. Global Thermal Paper Market by Region, 2019-2029 (USD Billion)
8.1. North America
8.1.1. The US
8.2.1. The UK
8.2.4. Rest of Europe
8.3. The Asia Pacific
8.3.4. Rest of Asia Pacific
8.4. South America
8.4.3. Rest of South America
8.5. The Middle East & Africa
9. Competitive Landscape
10. Company Profiles
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