Medical tourism includes travelling of patients to a different country or city for medical treatment. Travelling is done either due to no treatment in their place or they get the preferred treatment in other countries at comparatively lower rates. Most individuals choose to travel to well-developed regions for improved recovery. But nowadays, people from developed economies are travelling to less developed countries, such as India, Thailand, Malaysia, Sri Lanka, Latin America, and Singapore due to low medical cost as compared to their country. Nevertheless, in a few countries procedures like fertility are not legalized which ultimately enable people to select another region.
India is one of the major regions for medical tourism not only due to the availability of better treatment, but also low medical cost. Procedures like dentistry, fertility, psychiatry, cancer, cosmetic surgery, and cardiology are common procedures in these developing economies. Developing economies are ideal for medical tourism majorly due to growing adoption of improved medical solutions among others. Market Industry Reports (MIR) has published a new report titled “Medical Tourism Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global medical tourism market is estimated to be over US$ ~15.0 Billion in 2018. It is anticipated to grow at a CAGR of ~23.0% from 2019 to 2030.
Major Key Players of the Medical Tourism Market are:
Fortis Healthcare, Apollo International, Asian Heart Institute, Samitivej PCL., SEOUL NATIONAL UNIVERSITY HOSPITAL, Barbados Fertility Center, Prince Court Medical Centre, UZ Leuvan, Wooridul Spine Hospital, and ADITYA BIRLA HEALTH SERVICES LTD, among others.
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Rising healthcare costs in developed countries are forcing people to seek medical care in countries providing quality healthcare services at affordable costs. The significant growth of the medical tourism market can be attributed to the affordability and accessibility of good healthcare services in other countries. According to the Centers for Disease Control and Prevention, thousands of U.S. residents travel abroad for medical care each year.
Medical tourism involves patients travelling to another country to avail medical care at a lower cost with quality care. Other factors influencing medical tourism include the lower price of treatment as compared to the home country, technological advancement, lesser stringent regulation, and immediate availability of medical procedures. Hospitals that facilitate medical tourism provides services from basic consultation to full-service treatment. Most of the medical tourism facilitators provide non-medical facilities such as visas, travel, lodging, and tourism making it a more convenient stay for the patient and their family. In 2018, Malaysia’s Sunway Medical Centre has been awarded Medical Tourism Hospital of the year along with Bumrungrad International hospital in APAC. It is also recognized for the oncology & neurology service for the same year.
Major Types of Medical Tourism Market covered are:
Bariatric Treatment, Neurological Treatment, and Fertility Treatment
– To study and analyze the global Medical Tourism consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Medical Tourism market by identifying its various sub-segments.
– Focuses on the key global Medical Tourism manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Medical Tourism with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
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Table of Content
1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered
2 Global Growth Trends
2.1 Medical Tourism Market Size
2.2 Medical Tourism Growth Trends by Regions
2.3 Industry Trends
3 Market Share by Key Players
3.1 Medical Tourism Market Size by Manufacturers
3.2 Medical Tourism Key Players Head office and Area Served
3.3 Key Players Medical Tourism Product/Solution/Service
3.4 Date of entering into Medical Tourism Market
3.5 Mergers & Acquisitions, Expansion Plans
4 Breakdown Data by Product
4.1 Global Medical Tourism Sales by Product
4.2 Global Medical Tourism Revenue by Product
4.3 Medical Tourism Price by Product
5 Breakdown Data by End User
5.2 Global Medical Tourism Breakdown Data by End User
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In the end, Medical Tourism industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, and market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.
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