A Future Outlook of the Global Medical Tourism Market
Aug 14,2023 | Healthcare Services
The global medical tourism market is driven by existence of latest advanced technologies in terms of medical care present across the world. Moreover, easy accessibility of any kind of assistance from local governments and tourism departments is positively impacting the growth of market. Also, availability of numerous advantages which include personalized care, modern devices, improved hospitality, etc., is further expected to bolster the growth of market over the next few years.
The global medical tourism market is segmented based on treatment, type, company, and region. Based on treatment, the market can be categorized into cosmetic treatment, dental treatment, cardiovascular treatment, orthopaedic treatment, bariatric surgery, fertility treatment, ophthalmic treatment, and others. Out of these, the fertility treatment dominated the market in terms of largest market share and is expected to maintain its leading position the market during the forecast period as well. This can be ascribed to the fact that fertility treatment is one of the most common treatments for which medical tourists choose to travel across international borders.
Also, the cancer treatment segment is forecast to register high CAGR during the forecast period, on account of increase in incidences of cancer all around the world, along with higher number of unmet medical needs in some countries. This is projected to increase the number of cross-border travellers looking for better quality cancer treatment.
Global medical tourism market will reach US$298.784 billion by 2032, growing by 17.8% annually over 2022-2032, driven by the growing healthcare expenses in developed countries, inadequate insurance benefits and a lack of healthcare insurance in the local market, increased demand for non-covered operations such as gender reassignment surgery and reproductive therapy, the rising accessibility to the most recent and technologically radical procedures of treatment and the growing lifestyle-related disorders along with the aging population.
This report offered on Bharatbook provides comprehensive market analysis and up-to-date insights that deeply explore the trends of the global market for Medical Tourism. The study will enable the user to understand and gain insights into the current and forecast market situation. The market is comprehensively analysed by geography to give complete information on the global scenario. The qualitative and quantitative data provided in this study can help user understand which market segments, regions are expected to grow at higher rates, factors affecting the market and key opportunity areas. The report also contains competitive landscape of key players in the industry along with emerging trends in the market.
Key Players of the market include Aditya Birla Memorial Hospital, Anadolu Medical Center, Apollo Hospital Enterprise Limited, Asian Heart Institute, Asklepios Kliniken GmbH and Co. KGaA, Bangkok Hospital Medical Center, Barbados Fertility Center, Bumrungrad International Hospital, Clemenceau Medical Center, Fortis Healthcare, Gleneagles Hospital, KPJ Healthcare Berhad, Prince Court Medical Center, Raffles Medical Group, Samitivej Plc, Seoul National University Hospital and UZ Leuven, among others.
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