The "Medical Tourism Market by Treatment Type: Global Opportunity Analysis and Industry Forecast, 2019-2027" report has been added to ResearchAndMarkets.com's offering.
The global medical tourism market accounted for $104.68 billion in 2019, and is projected to reach $273.72 billion by 2027, registering a CAGR of 12.8% from 2019 to 2027 in terms of value. In terms of volume, the global medical tourism market accounted for 23,042.90 thousand patients in 2019, and is projected to reach 70,358.61 thousand patients by 2027, registering a CAGR of 15.0% from 2019 to 2027.
Medical tourism can be defined as an organized travel across international borders to avail medical treatment of some form, which may or may not be available in the travelers' home country. Medical tourists travel across international borders for the maintenance, enhancement, or restoration of their health through affordable healthcare facilities & treatments available in other countries, which are comparatively expensive in their own country. Medical tourists travel to receive medical treatments such as dental treatment, neurological treatment, and cardiovascular treatment.
The growth of the global medical tourism market is majorly driven by affordability and accessibility of quality healthcare services along with assistance from tourism departments and local governments. In addition, the availability of the latest medical technologies in medical tourism hubs across the globe is expected to fuel market growth. However, lengthy, partial reimbursement by payers and difficulties associated with travel, language barriers, availability of documentation, and VISA approval issues act as key restraints of the global market. Conversely, a wider hospital network under insurance coverage for cashless transactions is expected to serve as a remunerative opportunity for the expansion of the global medical tourism market during the period.
The report segments the market into treatment type and region. On the basis of treatment type, the market is segregated into dental treatment, cosmetic treatment, cardiovascular treatment, orthopedic treatment, neurological treatment, cancer treatment, fertility treatment, and others. Region wise, the medical tourism market is studied across North America, Europe, Asia-Pacific, and LAMEA.
This report entails a detailed quantitative analysis of the current market trends from 2019 to 2027 to identify the prevailing opportunities.
Medical tourism market size and estimations are based on a comprehensive analysis of the key developments in the industry.
In-depth analysis based on region assists to understand the regional market and the strategic business planning.
The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global market.
Affordable Good Quality Care
Availability of Quality Care
Accessible Information and Care
Assistance and Support from Government Agencies and Associations
Limited Coverage and Lengthy Partial Reimbursement by Payers
Difficulties Associated With Travel, Language Barriers, Availability, Documentation, and Visa Approval Issues
Overseas Promotional Offices Are a Key Source of Medical Tourists
Wider Hospital Network Under Insurance Coverage for Cashless Transactions
Aditya Birla Memorial Hospital
Apollo Hospitals Enterprise Limited
Asian Heart Institute
Barbados Fertility Center
Fortis Healthcare Limited
KPJ Healthcare Berhad
NTT Medical Center Tokyo
Prince Court Medical Centre
Seoul National University Hospital
Wooridul Spine Hospital
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View source version on businesswire.com: https://www.businesswire.com/news/home/20210120005374/en/
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