Affordable good quality care, accessible information and care, and support from government agencies and associations fuel the growth of the global market.
PORTLAND, OREGON, UNITED STATES, June 22, 2023/EINPresswire.com/ — The process of traveling outside the country of residence to avail medical treatment and care is known as medical tourism. Medical tourists avail different treatments such as cancer treatment, cardiovascular treatment, neurological treatment, and fertility treatment. The escalation in healthcare costs associated in developed countries has forced individuals to seek for affordable alternatives. This boosts the growth of the global medical tourism market.
Allied Market Research published a report, titled, โMedical Tourism Market by Treatment Type (Dental Treatment, Cosmetic Treatment, Cardiovascular Treatment, Orthopedic Treatment, Neurological Treatment, Cancer Treatment, Fertility Treatment, and Others): Global Opportunity Analysis and Industry Forecast, 2022โ2032.โ According to the report, the global Medical Tourism Market Size was Valued at USD 104.68 billion in 2019 and is Projected to Garner USD 273.72 billion by 2027 registering a CAGR of 12.8% from 2020 to 2027.
The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
๐๐จ๐ฏ๐ข๐-๐๐ ๐ฌ๐๐๐ง๐๐ซ๐ข๐จ:
โข The global medical tourism industry has been through an unprecedented disruption during the Covid-19 outbreak, which resulted in uncertainty in demand for various medical products and industrial applications.
โข Prolonged lockdown, on the other hand, disrupted the supply chain which affected the manufacturing processes as well as created shortage of raw materials.
โข China and India, which are amongst the major medical tourism destinations have undergone adverse impact due to the Covid-19 outbreak and country-wise lockdown. Also, travel restrictions and postponement of cross-border travels further affected the medical tourism market.
โข The government bodies, however, are now initiating to loosen up the regulations, which may assist the industry to recoup soon.
๐๐๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐ฐ๐ข๐ญ๐ก ๐๐ซ๐๐ฉ๐ก๐ฌ ๐๐ง๐ ๐ ๐ข๐ ๐ฎ๐ซ๐๐ฌ ๐๐๐ซ๐: https://www.alliedmarketresearch.com/request-sample/454
๐๐ก๐๐ญ ๐๐ซ๐ ๐ญ๐ก๐ ๐๐๐๐ญ๐จ๐ซ๐ฌ ๐๐ซ๐ข๐ฏ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐๐๐ข๐๐๐ฅ ๐๐จ๐ฎ๐ซ๐ข๐ฌ๐ฆ ๐๐๐ซ๐ค๐๐ญ?
Affordable good quality care, accessible information and care, and support from government agencies and associations fuel the growth of the global medical tourism market. On the other hand, limited coverage, lengthy partial reimbursement by payers, and difficulties related to travel, language barriers, and VISA approval issues impede the market growth. However, overseas promotion offers and wide hospital networks under insurance coverage for cashless transactions usher a plethora of opportunities in the near future.
๐๐จ๐ฉ ๐๐๐๐ข๐๐๐ฅ ๐๐จ๐ฎ๐ซ๐ข๐ฌ๐ฆ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ
โข Aditya Birla Memorial Hospital
โข Apollo Hospitals Enterprise Limited
โข Asian Heart Institute
โข Barbados Fertility Center
โข Fortis Healthcare Limited
โข KPJ Healthcare Berhad
โข NTT Medical Center Tokyo
โข Prince Court Medical Centre
โข Samitivej PCL
โข Seoul National University Hospital
โข Wooridul Spine Hospital.
๐๐๐๐ข๐๐๐ฅ ๐๐จ๐ฎ๐ซ๐ข๐ฌ๐ฆ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง
Based on technology, the cancer treatment segment accounted for the largest share in 2019, with nearly one-fifth of the global medical tourism market. This is attributed to increase in the number of cross-border travelers seeking quality cancer treatment and reduced cost in different countries. On the other hand, the orthopedic treatment segment is projected to register the highest CAGR of 14.8% during the forecast period. Orthopedic treatment is one of the widely performed services globally. This factor drives the growth of the segment.
Based on region, the global medical tourism market across Asia-Pacific dominated in 2019, with more than one-third of the market. Additionally, the region is also anticipated to manifest the highest CAGR of 13.6% during the forecast period. This is owing to the availability of quality care at relatively low cost of treatments, inexpensive flights, and an increase in marketing & online consumer information about the accessibility of medical services. At the same time, the market across North America is expected to grow at a CAGR of 11.4% during the forecast period.
๐๐ฎ๐ซ๐๐ก๐๐ฌ๐ ๐ญ๐ก๐ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.alliedmarketresearch.com/purchase-enquiry/454
Our Market Research Solution Provides You Answer to Below Mentioned Question:
โข Which are the driving factors responsible for the growth of market?
โข Which are the roadblock factors of this market?
โข What are the new opportunities, by which market will grow in coming years?
โข What are the trends of this market?
โข Which are main factors responsible for new product launch?
โข How big is the global & regional market in terms of revenue, sales and production?
โข How far will the market grow in forecast period in terms of revenue, sales and production?
โข Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
โข How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
โข Which region has more opportunities?
By Region Outlook
โข North America
(U.S., Canada, Mexico)
โข Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)
โข Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)
โข LAMEA
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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