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Global Medical Tourism Market (2020 to 2027) - Featuring Asian Heart Institute, Barbados Fertility Center & Fortis Healthcare Among Others - ResearchAndMarkets.com

·3-min read

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.

Key Benefits

  • 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.

Market Dynamics

Drivers

  • Affordable Good Quality Care

  • Availability of Quality Care

  • Accessible Information and Care

  • Assistance and Support from Government Agencies and Associations

Restraints

  • Limited Coverage and Lengthy Partial Reimbursement by Payers

  • Difficulties Associated With Travel, Language Barriers, Availability, Documentation, and Visa Approval Issues

Opportunities

  • Overseas Promotional Offices Are a Key Source of Medical Tourists

  • Wider Hospital Network Under Insurance Coverage for Cashless Transactions

Key Players

  • 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

  • Samitivej PCL

  • Seoul National University Hospital

  • Wooridul Spine Hospital

For more information about this report visit https://www.researchandmarkets.com/r/4dwyex

View source version on businesswire.com: https://www.businesswire.com/news/home/20210120005374/en/

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