Global Medical Tourism Market Report 2022 – Market Forecast, Trends And Strategies
15 Feb, 2022
The global medical tourism market size is expected to grow from $32.02 billion in 2021 to $35.77 billion in 2022 at a compound annual growth rate (CAGR) of 11.7%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The medical tourism market is expected to reach $54.43 billion in 2026 at a CAGR of 11.1%.
What is the Global Medical Tourism Market?
The medical tourism market includes revenues generated by healthcare service providers by diagnosing and treating the patients who travel across international borders to obtain medical treatment. Patients usually travel from countries lacking healthcare infrastructure or having high healthcare costs to major medical centres in developing countries.
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What drives the Global Medical Tourism Market?
High healthcare cost in developed countries is driving growth in the medical tourism market as developing countries are able to provide cheaper treatment. Patients usually travel to developing countries with quality healthcare infrastructure and low healthcare costs. According to a study conducted by the Centres for Disease Control and Prevention, approximately 0.75 -1.6 million people from the USA travel out of the country for medical care to avoid high treatment cost. For instance, a hip replacement surgery in the USA costs approximately $39,299 while the same surgery in India, Costa Rica or other developing countries would cost between $7000 and $15,000 including logistics.
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https://www.thebusinessresearchcompany.com/report/medical-tourisms-global-market-reportGlobal Medical Tourism Market Segments
The global medical tourism market is segmented:
By Treatment Type: Cosmetic Treatment, Dental Treatment, Cardiovascular Treatment, Orthopedics Treatment, Bariatric Treatment, Fertility Treatment, Ophthalmic Treatment, Others
By Type: Domestic, International
By Healthcare Service: Medical Treatment, Wellness, Alternative Treatment
By Service Providers: Public, Private
By Geography: The regions covered in the medical tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Medical Tourism Global Market Report 2022provides market size and growth forecasts for the global medical tourism market, global medical tourism market share, medical tourism market segments and geographies, medical tourism market competitive landscape including leading competitors’ revenues, profiles and market shares. The medical tourism market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Medical Tourism Industry Playersinclude Apollo Hospital Enterprise Limited, Prince Court Medical Center, Bumrungrad International Hospital, KPJ Healthcare Berhad, Fortis Health Ltd, Raffles Medical Group, Bangkok Hospital Medical Center, Samitivej PCL., Min-Sheng General Hospital and Asian Heart Institute. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.