Medical Tourism Market And Analysis by Treatment Type And by Regions - Forecast Till 2032. Medical tourism involves promoting cost-effective healthcare options in hospitals globally. Market Research Future (MRFR) explores the global medical tourism market, offering insights into policy changes, evolving patient needs, healthcare sector goals, and other crucial factors sustaining the market from 2023 to 2032 (forecast period). The report extensively evaluates the impact of the COVID-19 virus. Anticipated to grow at a CAGR of 21.2% during the forecast period, the global medical tourism market is driven by the rise of chronic diseases and the expensive nature of available treatments.
Affordable surgeries and medical billing in certain countries, coupled with insurance programs, are key growth drivers. The market may reach a valuation of USD 121.8 billion by 2032, fueled by healthcare professional employment in emerging economies, the aging population, and the growing middle class's purchasing power. Infrastructure improvements and adherence to international standards are expected to support market growth. However, challenges like communication issues and high travel costs could pose bottlenecks in the market.
Competition Outlook
Fortis Healthcare
Bumrungrad International Hospital
Clemenceau Medical Center
Shouldice Hospital
Prince Court Medical Centre
Bangkok Hospital
Anadolu Medical Center
CHRISTUS MUGUERZA
Gleneagles Global Hospitals Group
Samitivej PCL
Schön-Kliniken
Asklepios Kliniken Verwaltungsgesellschaft GmbH
Segmentation
The global medical tourism market has been segmented on the basis of treatment type.
By treatment type, the health tourism is segmented into oncology/cancer treatments, orthopedic/spine treatments, neurology/neurosurgery treatment, fertility/IVF treatments, dentistry treatments, cardiovascular/cardiology treatments, and cosmetic treatments.
Cosmetic treatments are projected to generate the maximum revenue for the market. Procedures such as facial rejuvenation, breast augmentation, and others are likely to bode well for the market. On the other hand, cardiovascular/cardiology treatments are predicted to bring in revenue for the market till 2030.
Regional Analysis
The segments covered in the report are analyzed with respect to four major regions – Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA).
APAC is expected to lead the global medical tourism market with 43.7% market share in 2016. Growing economies, technological advances in treatment and surgery, and state-of-the-art equipment are factors expected to drive regional market growth. Investments to accelerate the improvements to transport infrastructure and medical infrastructure can accelerate market demand. Thailand, China, India, Myanmar, Laos, and Vietnam are countries which can contribute to market growth.
The MEA region is anticipated to make investments in the building of hospitals that can draw tourists and generate income as a consequence. Due to government initiatives, Dubai is hailed as a top spot for medical tourism. The expansion of the regional market can be fueled by the integration of hospital administration for the hiring of qualified employees and emphasis on patient care.
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