Medical Tourism Market To Accrue A 21.4 % CAGR In The Duration Of The Forecast |  COVID-19 Pandemic

Medical Tourism Market To Accrue A 21.4 % CAGR In The Duration Of The Forecast |  COVID-19 Pandemic
Medical Tourism Market Trends and Growth Research by Treatment Type (Orthopedic/Spine Treatments, Oncology/Cancer Treatments, Cosmetic Treatments, Cardiovascular Treatments, Dental Treatments, Fertility/IVF Treatments, others), by Regions – Global Forecast Till 2023

Global medical tourism market size is touted to exhibit an impressive 21.4% CAGR during the assessment period (2017-2023), as per an in-depth medical tourism market report by Market Research Future (MRFR).


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Medical Tourism Market-Overview

The terminal disease diagnosis rate has risen at an accelerated pace, and its treatment is more specialized in certain regions globally, and this is estimated to shape the medical tourism market. The pharmaceuticals reports are made by Market Research Future, which includes market options for progress. A 21.4% CAGR is estimated to motivate the market in the forecast period.

The expensive cost of specific treatments is a decisive factor that is promoting the medical tourism market share in the forecast period. Moreover, certain nations have established themselves as premier healthcare destinations, and their government’s policies further reinforce this. Thus, the combination of these factors is estimated to promote the medical tourism market growth in the approaching period.

Segmental Analysis 

The segmental assessment of the medical tourism market is segmented on the basis of type and regions. On the basis of the treatment types, the medical tourism market is segmented into orthopedic/spine treatments, neurology/neurosurgery treatments, cosmetic treatments, cardiovascular/cardiology treatments, oncology/cancer treatments, fertility/IVF treatments, and dental treatments. On the basis of regions, the medical tourism market is segmented into the Americas, Europe, APAC, Africa, and the Middle East.

Detailed Regional Analysis 

The regional investigation of the medical tourism market includes regions such as the Americas, Europe, APAC, Africa, and the Middle East. The Asia Pacific medical tourism market owing to an excessive concentration of emerging economies, has a massive portion of the market, forcing it to the place of a market frontrunner by regional review. The Financing in technological developments and the situation of the art medical equipment are supplementing market development. Furthermore, the region comprises of South Korea, which is an extremely popular endpoint for cosmetic techniques. The regional medical tourism market in Europe also signifies a significant regional section, which is mounting quickly and is projected to launch itself as a medical tourism point in the course of the forecast period.

Competitive Analysis

The focus on external business factors is further estimated to create promising changes in several areas of the market at a global level in the future. The market is likely to evolve at a relatively stable pace in the course of the forecast period. The benefactors in the market are likely to contribute in a consistent arable manner to the growing requirement in the market. Also, the breakthroughs that have come to fruition in the market are estimated to transform the overall Market development through the coming years. The consumer demand which had slackened due to the pandemic disruption is likely to gain its intensity for growth in the future. The fortifying effects of government policies are estimated further to reduce the achievement of future goals in the market. It is estimated that the factors of the market that were previously not leveraged will be employed to boost the potential of the market in the approaching period. The rivalry in the market is estimated to take a muted course in the progression of the forecast period.

The eminent contenders in the medical tourism market are CHRISTUS MUGUERZA (Mexico), Clemenceau Medical Center (Lebanon), Samitivej PCL (Thailand), Bumrungrad International Hospital (Thailand), Schön-Kliniken (Germany), Gleneagles Global Hospitals Group (India), Prince Court Medical Centre (Malaysia), Anadolu Medical Center (Turkey), Shouldice Hospital (Canada), Asklepios Kliniken Verwaltungsgesellschaft mbH (Germany), Bangkok Hospital (Thailand), Fortis Healthcare (India), and others.

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Industry Updates:

Jul 2020 The creation of SOPs is being undertaken to restart medical tourism in Gurugram, India, for approval. As per the SOPs, hospitals will have to prudently hand-pick patients, particularly avoiding those with acute co-morbidity problems. Both the patients and the employees will have to endure the RT-PCR tests 48 hours preceding their booked flight.

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