Medical Tourism Market by Treatment Type (Fertility Treatment, Cosmetic Surgery Dental Surgery, Cardiovascular Surgery, Bariatric Surgery, Orthopedic Surgery, Oncology Treatment, Others) and by Region (North America, Europe, Asia Pacific, Latin America, MEA), - Global Forecasts 2017 to 2027

Market Overview:

The global Medical Tourism Market was valued at USD XXX billion in 2020, and it is expected to reach USD XXX billion by 2027, with a CAGR of XXX %, during the forecast period (2021-2027).

Medical tourism refers traveling to another country for the medical treatment. People usually travelled from the underdeveloped or less developed countries to the developed countries for the better medical treatment or from developed countries to developing countries to. Medical tourism proves beneficial for the development of economy of country and gives access to the new innovative technology in the healthcare sector.

For the better and superior treatment quality and advancement of technology is the major propelling factor for the of the global medical tourism industry. In addition, the cost of treatment is less and get appropriate treatment is another driving factor for the growth of the target market. are also pushing the market to grow at a faster rate. Furthermore, the growing attention to the provision of medical tourism and the growing demand for cosmetics treatment, cardiovascular treatment, and oncology are benefiting the target market. Besides this, easy international travelling opens the way for medical tourist is the other factor for the growth of global medical tourism market. However, the patient may get complication for post-surgery follow up is the major restraining factor for the growth of target market.

The Global Medical Tourism Industry Segmentation:

By Treatment Type

• Fertility Treatment
• Cosmetic Surgery
• Dental Surgery
• Cardiovascular Surgery
• Bariatric Surgery
• Orthopedic Surgery
• Oncology Treatment
• Others

By Region

1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East & Africa

Based on treatment type, the cardiovascular treatment and oncology segment accounted for the largest share of the market in 2020.

Based on treatment type, the cardiovascular treatment and oncology segment was accounted for a significant share of medical tourism's market share in 2020, owing to factors such increase in number of cardiac and cancer patients and availability of advanced treatment in lesser price in developing countries or adjacent countries.

Based on regions, Asia Pacific is gaining attraction for medical tourism.

Based on region, the market has been categorised into North America, Europe, Asia-Pacific, Latin America, and Middle East Africa. Asia Pacific accounted for the significant share in the market. The dominance is expected to continue owing to numerous factors such as, availability of advanced IVF treatment and cosmetic surgeries in the region, investment by market players, and cost effectivity. Additionally, government initiatives in favour of the industry are accelerating the market growth during the forecast period.

The report also provides in-depth analysis of medical tourism market dynamics such as drivers, restraints and opportunities.

Drivers.

• Availability of Quality Treatment in Much Lesser Price in Developing Regions
• Increasing Awareness About Medical Tourism
• Growing Passivity towards International Standard For the Surgical Procedures
• Government Policies
• Affordability and Ease of International Travel

Restraints

• More Time Consuming for Some Medical Procedures
• Concern with Post- Surgery and Follow-Up Complications

Opportunities

• Government Taking Initiative In Development Of Medical Tourism

COVID-19 Impact on the Medical Tourism Market Analysis

The COVID-19 outbreak has made a slight negative impact on medical tourism market. Lockdown in many countries and restriction on the cross-border travels hamper the growth of the market. Additionally, pandemic already created burden on the healthcare facilities. Hence, many hospitals are currently not serving for cross-border patients. Large percentage of medical tourism happened for cosmetic surgery. Negative impact on cosmetic industry also affects the medical tourism market for cosmetic surgery segment.

The report also provides in-depth analysis of key trends in Medical Tourism market

Sr. No.	Trends	Impact
1	The upsurge in medical problems such as cancer, infertility, and heart problems	Positive
2	Ban on international flight due to lockdown in COVID- 19 pandemic	Negative

The report also provides in-depth analysis of recent news developments and investments.

1. In May 2020, Apollo Hospital announced to provide child and women’s care unit in the state of Karnataka having 4 neonatal beds and 43 ICU beds in order to allow the company to extent their productivity.
2. Raffles Medical Group set a new hospital in Chongqing, China in January 2019. The hospital offer various services and 700-bed facility. This has allowed hospital to provide to generate more revenues and more international patients.

Medical Tourism Market Company Profiles and Competitive Intelligence

The key players operating in the Medical Tourism market are:

• Apollo Hospitals Enterprise Ltd.
• Seoul National University Hospital
• Aditya Birla Health Services Ltd.
• Fortis Healthcare Limited
• Barbados Fertility Center
• Asian Heart Institute
• Healthbase
• Samitivej Hospital Group
• BB Healthcare Solutions
• UZ Leuven
• Prince Court Medical Center
• KPJ Healthcare Berhad
• Min-Sheng General Hospital
• Asian Heart Institute
• Omron Healthcare, Inc.

The unique insight provided by this report also includes the following:

• In-depth value chain analysis
• Opportunity mapping
• Sector snapshot
• Key Players Positioning Matrix
• Regulatory scenario
• Strategies Adopted-Benchmarking Heat Map
• Market trends
• Covid-19 impact analysis
• Product comparison
• Pre & Post COVID 19 impacts on the medical tourism market
• Competitive Landscape

Frequently Asked Questions (FAQs)

Related Reports