Overview:

The global medical tourism market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. The travelling for medical treatment purpose across the countries or in the country is commonly referred as medical tourism. The high cost of various medical treatments in the developed countries is a key factors supporting growth of medical tourism across the globe.

Market Dynamics:

Increasing health tourism hubs in many countries across the globe is a key factor driving growth of the global medical tourism market. Also, rising government support for medical tourism and growing income level of individuals across the globe are other factors supporting market growth.

In addition, rising preference for cosmetic surgeries and growing preference for cost saving treatment options for the disease or treatments which are costly and not covered in health insurance among population are other factor propelling growth of the target market.

Moreover, increasing government spending on development of healthcare infrastructure in order to facilitate the adoption of advanced devices is among the other factors expected to further support the growth of target market. Furthermore, rising availability of health experts, skilled professionals, and advanced treatment options in emerging economies is supporting target market growth globally.

However, factors such as increasing political issues, long waiting period for certain treatments, and concerns about post treatment complications are key factors hampering growth of the global medical tourism market.

Key Trends:

Growing spending on infrastructure development and adoption of advanced medical devices by the major hospitals in order to facilitate the medical services is a key trend expected to support growth of the global medical tourism market. For example, in May 2019, Apollo Hospitals, Bangalore has introduced women and child care department with 43 ICU beds and 4 neonatal ICU beds.

In addition, in June 2019, SRCC Children’s Hospital has announced launch of Bone Marrow Transplant (BMT) services at its dedicated children’s hospital in Haji Ali, Mumbai. This unit is able to treat the national and international patients suffering from bone marrow issues.

Regional Analysis:

For detailed understanding of market dynamics, the global market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific medical tourism market is expected to account for significant revenue share in the global market due to increasing foreign direct investment in healthcare sector in countries in the region. In addition, rising number of market players in emerging economies due to high patient pool suffering from various chronic diseases is another factor expected to further support the growth of target market in this region.

Availability of comparatively low cost treatment in countries such as Thailand, India, and Japan is another factors expected to further support growth of the target market. The Europe holds second largest market share in the global medical tourism market. However, Middle East & Africa region is expected to witness significant growth over the forecast period.

Scope of the Report:

Detailed Segmentation:

Global Medical Tourism Market, By Tourism Type:

• International Medical Tourism
• Domestic Medical Tourism

Global Medical Tourism Market, By Treatment Type:

• Cosmetic Treatment
  • Hair Transplantation
  • Breast Augmentation
• Dental Treatment
• Orthopedic Treatment
• Cardiovascular Treatment
• Fertility Treatment
• Oncology Treatment
• Other Treatment

Key Players Covered:

Key players operating in the global medical tourism market include, Bumrungrad International Hospital, Fortis Healthcare Limited, KPJ Healthcare Berhad, Manipal Hospitals, Max Healthcare Institute, Mount Elizabeth Hospitals, Narayana Health, Raffles Medical Group, Apollo Hospitals Enterprise Limited, and Asklepios Kliniken GmbH & Co. KGaA.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Medical Tourism Market by tourism type, treatment type and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global medical tourism market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.