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Medical Tourism Market In-Depth Analysis, Global Growth Prospects By Major Companies Wooridul Spine Hospital, Aditya Birla Memorial Hospital, Barbados Fertility Center.

The Business Research Company’s Medical Tourism Market Global Report 2020-30: Covid 19 Growth and Change. The report covers market size, key players, market share and trends to 2030.

Medical Tourism Market Global Report 2020-30: Covid 19 Growth and Change is one of a series of new reports from The Business Research Company that provide Medical Tourism market overviews, analyze and forecast market size and growth for the whole market, Medical Tourism market segments and geographies, Medical Tourism market trends, Medical Tourism market geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Read More On The Medical Tourism Market Here –
https://www.thebusinessresearchcompany.com/report/medical-tourism-market-global-report-2020-30-covid-19-growth-and-change

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 centers in developing countries.

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The global medical tourism market is expected to decline from $37.72 billion in 2019 to $19.8 billion in 2020 at a compound annual growth rate (CAGR) of -47.53%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, restriction on cross-border travel and the closure of industries and other commercial activities. The ban on cross-border travel reduces the number of international patients, impacting the market. The market is then expected to recover and reach $33.54 billion in 2023 at CAGR of 19.2%.

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Medical Tourism Market 2020-2025: Global Industry Trends, Growth, Share, Size And Forecast Research Report

Medical Tourism Market report (6 Year Forecast 2020-2026) enhanced on worldwide competition by topmost prime manufacturers (Key Players) which providing information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. It also includes the estimation of Medical Tourism industry size for value (million US$) and volume (K sqm). The Medical Tourism market report provides a basic summary of the business together with definitions, classifications, applications and business chain structure.

Free Sample PDF of Medical Tourism Market @ https://www.researchmoz.us/enquiry.php?type=S&repid=2586360

Medical Tourism Market Opportunities: With a purpose of enlightening new entrants regarding the probabilities during this market, this report investigates new project practicableness. A radical SWOT analysis & investment analysis is provided within the report that forecasts close at hand opportunities for the Medical Tourism market players.

Based on Product Type, Medical Tourism market report displays the production, profits, cost, and market segment and growth rate of each type, covers: Market type

Based on end users/applications, Medical Tourism market report focuses on the status and viewpoint for major applications/end users, sales volume, market share and growth rate for each application, this can be divided into: Market Application

Enquiry for Discount Visit @ https://www.researchmoz.us/enquiry.php?type=D&repid=2586360

Medical Tourism Market impact Factors Analysis:
Technology Progress/Risk, Substitutes Threat, Economic/Political Environmental modification. Technology Progress in connected trade, shopper Needs/Customer Preference modification.

Important Medical Tourism Market information obtainable during this report:
• Emerging opportunities, competitive landscape, revenue share of main makers.
• Challenges for the new entrants, trends, Medical Tourism market drivers.
• Company profiles, product analysis, selling ways, rising market segments and comprehensive analysis of Medical Tourism Market.
• Strategic recommendations, forecast growth areas of the Medical Tourism Market.
• Market share year-over-year growth of key players in promising regions
• This report discusses the Medical Tourism Market summary; market scope provides a short define of the Medical Tourism industry.
• Key playing regions (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) together with their major countries are elaborated during this report.
• Medical Tourism Market Chain Analysis by Upstream Raw Materials and Downstream Industry.

Inquire More About This Report @ https://www.researchmoz.us/enquiry.php?type=E&repid=2586360

For More Information Kindly Contact:

ResearchMoz

Mr. Rohit Bhisey,

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Email: [email protected]

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Analysis Forecast Coronavirus

Medical Tourism Market Report 2020 (COVID-19 Impact Analysis) By Segmentations, Key Company Profiles & Demand Forecasts to 2020 – 2026

Healthcare And Life Science - Credible Markets

Medical Tourism Market has been riding a progressive growth trail over the recent past. The first two quarters of the year 2020 have however witnessed heavy disruptions throughout all the industry facets, which are ultimately posing an unprecedented impact on Medical Tourism market. Although healthcare & life sciences industry as a whole is witnessing an influx of opportunities in selected sectors, it remains a matter of fact that some of the industry sectors have temporarily scaled back. It becomes imperative to stay abreast of all the recent updates and predict the near future wisely.

The report primarily attempts to track the evolution of growth path of market from 2019, through 2020, and post the crisis. It also provides long-term market growth projections for a predefined period of assessment, 2015 – 2026. Based on detailed analysis of industry’s key dynamics and segmental performance, the report offers an extensive assessment of demand, supply, and manufacturing scenario. Upsurge in R&D investments, increasing sophistication of healthcare infrastructure, thriving medical tourism, and rapidly introducing innovations in Medical Tourism and equipment sector are thoroughly evaluated.

For Better Understanding, Download FREE Sample Copy of Medical Tourism Report @ https://www.crediblemarkets.com/sample-request/medical-tourism-market-46871

Key players in the global Medical Tourism market covered in Chapter 4:

Fortis Healthcare Limited
KPJ Healthcare Berhad
Barbados Fertility Center
UZ Leuven
Aditya Birla Memorial Hospital
Apollo Hospitals Enterprise Limited
NTT Medical Center Tokyo
Seoul National University Hospital
Wooridul Spine Hospital
Samitivej PCL
Asian Heart Institute
Prince Court Medical Centre

In Chapter 11 and 13.3, on the basis of types, the Medical Tourism market from 2015 to 2026 is primarily split into:

Dental Treatment
Rehabilitation
Urology Treatment
Cosmetic Treatment
Cardiovascular Treatment
Orthopedics Treatment
Other Treatments

In Chapter 12 and 13.4, on the basis of applications, the Medical Tourism market from 2015 to 2026 covers:

Hospitals and Clinics
Research Institutes
Pharmaceutical & Biotechnology Industries
Government Associations
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2015-2026) of the following regions are covered in Chapter 5, 6, 7, 8, 9, 10, 13:

United States, Canada, Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden, Poland, Belgium, China, Japan, South Korea, Australia, India, Taiwan, Indonesia, Thailand, Philippines, Malaysia, Brazil, Mexico, Argentina, Columbia, Chile, Saudi Arabia, UAE, Egypt, Nigeria, South Africa and Rest of the World

Direct Purchase Medical Tourism Market Research Report @ https://www.crediblemarkets.com/reports/purchase/medical-tourism-market-46871?license_type=single_user

Some Points from Table of Content

Global Medical Tourism Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 

Chapter 1 Report Overview

Chapter 2 Global Market Growth Trends

Chapter 3 Value Chain of Medical Tourism Market

Chapter 4 Players Profiles

Chapter 5 Global Medical Tourism Market Analysis by Regions

Chapter 6 North America Medical Tourism Market Analysis by Countries

Chapter 7 Europe Medical Tourism Market Analysis by Countries

Chapter 8 Asia-Pacific Medical Tourism Market Analysis by Countries

Chapter 9 Middle East and Africa Medical Tourism Market Analysis by Countries

Chapter 10 South America Medical Tourism Market Analysis by Countries

Chapter 11 Global Medical Tourism Market Segment by Types

Chapter 12 Global Medical Tourism Market Segment by Applications

Chapter 13 Medical Tourism Market Forecast by Regions (2020-2026)

Chapter 14 Appendix

Impact of Covid-19 in Medical Tourism Market: Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost every country around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Medical Tourism market in 2020. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor/outdoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.

• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years data history and forecast.

• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.

• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.

• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Contact for Any Query or Get Customized Report @ https://www.crediblemarkets.com/enquire-request/medical-tourism-market-46871 

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COVID-19 Impact: What Challenges Medical Tourism Market May See In Next 5 Years?

The worldwide spread of COVID-19 has adversely affected the global medical tourism market. Nevertheless, the market is likely to recover by Q1/Q2 of 2022. Due to a lockdown declared across the globe, many countries closed the borders and restricted travel to prevent COVID-19 spread, which is hampering the global growth. However, the increasing interest amongst people regarding better-quality healthcare treatment is likely to help the market to grow during the forecast period. For instance, India has launched M-visa facility to help foreigners to enter the country for healthcare treatment.

The global medical tourism market is likely to observe a decline in the growth due to the COVID-19 pandemic all over the world. According to a new research report published by Research Dive, the global medical tourism market is projected to reach up to $142.2 billion and grow at a CAGR of 11.7% during the forecast period from 2019 to 2026.

Though there is a decline in the growth rate, the market is anticipated to recover by the end of Q1/Q2 of 2022. Comprehensive analysis on drivers, growth opportunities, restraints, vital segments, and strategies implemented by major market players are further provided in the report to better understand the pandemic effect on the global industry.

Connect with Analyst to Reveal How COVID-19 Impacting On Market: https://www.researchdive.com/connect-to-analyst/248

• Key Features of the Market

– Our analysts stated that the advancements in technology and rising interests of people regarding better-quality healthcare treatment are the major factors boosting the growth of global medical tourism market.

– The predicted market size of the medical tourism industry post COVID-19 pandemic is $44.2 billion in 2020, which is a drastic decline from $73.7 billion before the pandemic situation.

– However, risk associated with travel after surgery, quality of staff members, and language barrier are factors restricting the market growth in the coming future.

• Strategies & Initiatives to Sustain in Pandemic Situation

Many countries across the globe are investing more in developing facilities of medical tourism by inviting well-known medical specialist from Mayo Clinic, Cleveland, Clinic, and Harvard Medical International. Besides, other countries are implementing different strategies to increase the medical tourism market growth. For instance, M-visa is introduced by India that allow foreigners to enter the country and this visa can be issued in less time.

Moreover, in Singapore doctors are treating people to maximum of three different locations, which is based on the guidelines of MOH (Ministry of Health) to prevent the spread of coronavirus.

The major players of the global medical tourism market Shouldice Hospital, Prince Court Medical Centre, Bangkok Hospital, Gleneagles Global Hospitals Group, Clemenceau Medical Centre, and Anadolu Medical Centre.

Download Exclusive Free Sample Copy of the Report at: https://www.researchdive.com/download-sample/248

• Post-Pandemic Scenario

As per the report, the global medical tourism market is estimated to witness impressive growth post-coronavirus pandemic. People are seeking medical tourism due to the benefits such as easy accessibility of medication and availability of treatment coupled with low cost. This will help the market to grow exponentially during the forecast period.

Countries such as India, Thailand, and Singapore are gaining popularity owing to availability of treatment with reduced cost. For instance, the coronary bypass surgery in the U.S. costs for $113,000, while in other countries such as Singapore, Thailand, and India costs only 5-10% of the total spending. Thus, this will demand for medical tourism in the forecast period, thereby, fueling the growth of global market after COVID-19 pandemic.

Look for more statistical info at: https://www.prnewswire.com/news-releases/increasing-importance-among-people-for-better-healthcare-facility-post-covid-19-pandemic-to-promote-the-development-of-global-medical-tourism-market-301083588.html

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Medical Tourism Market 2020 | Strategic Assessment by Top Players like Pantai Holdings Berhad, KPJ Healthcare Berhad, Dentalpro, Prince Court Medical Centre, Island Hospital, IJN Health Institute, Mahkota Medical Centre, Sunway Medical Centre, LohGuanLye Specialists Centre, Tropicana Medical Centre, and More…

Medical Tourism Market Forecast 2020-2026

The Global Medical Tourism Market research report provides and in-depth analysis on industry- and economy-wide database for business management that could potentially offer development and profitability for players in this market. This is a latest report, covering the current COVID-19 impact on the market. The pandemic of Coronavirus (COVID-19) has affected every aspect of life globally. This has brought along several changes in market conditions. The rapidly changing market scenario and initial and future assessment of the impact is covered in the report. It offers critical information pertaining to the current and future growth of the market. It focuses on technologies, volume, and materials in, and in-depth analysis of the market. The study has a section dedicated for profiling key companies in the market along with the market shares they hold.

The report consists of trends that are anticipated to impact the growth of the Medical Tourism Market during the forecast period between 2020 and 2026. Evaluation of these trends is included in the report, along with their product innovations.

Get a PDF Copy of the Sample Report for free @ https://industrygrowthinsights.com/request-sample/?reportId=200749

The Report Covers the Following Companies:
Pantai Holdings Berhad
KPJ Healthcare Berhad
Dentalpro
Prince Court Medical Centre
Island Hospital
IJN Health Institute
Mahkota Medical Centre
Sunway Medical Centre
LohGuanLye Specialists Centre
Tropicana Medical Centre

By Types:
Cardio Internal Medicine
Cardiothoracic Surgery
Oncology
Fertility Treatments
Orthopedic Treatment
Other

By Applications:
Application 1
Application 2

Furthermore, the report includes growth rate of the global market, consumption tables, facts, figures, and statistics of key segments.

By Regions:

  • North America (The US, Canada, and Mexico)
  • Europe (Germany, France, the UK, and Rest of the World)
  • Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
  • Latin America (Brazil and Rest of Latin America.)
  • Middle East & Africa (Saudi Arabia, the UAE, , South Africa, and Rest of Middle East & Africa)

Grab Your Report at an Impressive Discount! Please click here @ https://industrygrowthinsights.com/ask-for-discount/?reportId=200749

Years Considered to Estimate the Market Size:
History Year: 2015-2019
Base Year: 2019
Estimated Year: 2020
Forecast Year: 2020-2026

Important Facts about Medical Tourism Market Report:

  • This research report encompasses Medical Tourism Market overview, market share, demand and supply ratio, supply chain analysis, and import/export details.
  • The report has different approaches and procedures endorsed by Key Market players that enable efficient business decisions.
  • The report offers information such as production value, strategies adopted by market players and products/services they provide.

What Our Report Offers:

  • Market share valuations of the segments on country and global level
  • Share analysis of the major market players
  • Opportunities for new market entrants
  • Market forecast for a minimum of 6 years for all the segments, sub-segments in various countries and regions
  • Market Trends (drivers, restraints, opportunities, threats, challenges, investment opportunities, and approvals)
  • Strategic endorsements in key business segments on the basis of market valuations
  • Competitive scenario mapping the key development patterns.
  • Company profiling with comprehensive strategies, financial details, and recent progressions.
  • Supply chain trends representing the latest technological advancements.

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COVID-19 Impact: What Challenges Medical Tourism Market May See In Next 5 Years?

The worldwide spread of COVID-19 has adversely affected the global medical tourism market. Nevertheless, the market is likely to recover by Q1/Q2 of 2022. Due to a lockdown declared across the globe, many countries closed the borders and restricted travel to prevent COVID-19 spread, which is hampering the global growth. However, the increasing interest amongst people regarding better-quality healthcare treatment is likely to help the market to grow during the forecast period. For instance, India has launched M-visa facility to help foreigners to enter the country for healthcare treatment.

The global medical tourism market is likely to observe a decline in the growth due to the COVID-19 pandemic all over the world. According to a new research report published by Research Dive, the global medical tourism market is projected to reach up to $142.2 billion and grow at a CAGR of 11.7% during the forecast period from 2019 to 2026.

Though there is a decline in the growth rate, the market is anticipated to recover by the end of Q1/Q2 of 2022. Comprehensive analysis on drivers, growth opportunities, restraints, vital segments, and strategies implemented by major market players are further provided in the report to better understand the pandemic effect on the global industry.

Connect with Analyst to Reveal How COVID-19 Impacting On Market: https://www.researchdive.com/connect-to-analyst/248

• Key Features of the Market

– Our analysts stated that the advancements in technology and rising interests of people regarding better-quality healthcare treatment are the major factors boosting the growth of global medical tourism market.

– The predicted market size of the medical tourism industry post COVID-19 pandemic is $44.2 billion in 2020, which is a drastic decline from $73.7 billion before the pandemic situation.

– However, risk associated with travel after surgery, quality of staff members, and language barrier are factors restricting the market growth in the coming future.

• Strategies & Initiatives to Sustain in Pandemic Situation

Many countries across the globe are investing more in developing facilities of medical tourism by inviting well-known medical specialist from Mayo Clinic, Cleveland, Clinic, and Harvard Medical International. Besides, other countries are implementing different strategies to increase the medical tourism market growth. For instance, M-visa is introduced by India that allow foreigners to enter the country and this visa can be issued in less time.

Moreover, in Singapore doctors are treating people to maximum of three different locations, which is based on the guidelines of MOH (Ministry of Health) to prevent the spread of coronavirus.

The major players of the global medical tourism market Shouldice Hospital, Prince Court Medical Centre, Bangkok Hospital, Gleneagles Global Hospitals Group, Clemenceau Medical Centre, and Anadolu Medical Centre.

Download Exclusive Free Sample Copy of the Report at: https://www.researchdive.com/download-sample/248

• Post-Pandemic Scenario

As per the report, the global medical tourism market is estimated to witness impressive growth post-coronavirus pandemic. People are seeking medical tourism due to the benefits such as easy accessibility of medication and availability of treatment coupled with low cost. This will help the market to grow exponentially during the forecast period.

Countries such as India, Thailand, and Singapore are gaining popularity owing to availability of treatment with reduced cost. For instance, the coronary bypass surgery in the U.S. costs for $113,000, while in other countries such as Singapore, Thailand, and India costs only 5-10% of the total spending. Thus, this will demand for medical tourism in the forecast period, thereby, fueling the growth of global market after COVID-19 pandemic.

Look for more statistical info at: https://www.prnewswire.com/news-releases/increasing-importance-among-people-for-better-healthcare-facility-post-covid-19-pandemic-to-promote-the-development-of-global-medical-tourism-market-301083588.html

Contact Us:

Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York
NY 10005 (P)
+ 91 (788) 802-9103 (India)
+1 (917) 444-1262 (US) Toll
Free : +1 -888-961-4454
Email: [email protected]
LinkedIn: https://www.linkedin.com/company/research-dive
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Medical Tourism Market 2020 Growing Popularity and Emerging Trends | by Top Key Players, Business Strategies, Solutions, User Prospects and Forecasts 2026

The medical tourism market is anticipated to reach over USD 125.8 billion by 2026 according to a new research published by Polaris Market Research. In 2019, the orthopedic treatment dominated the global medical tourism market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue in 2019.

There has been a great demand for medical tourism in the years. Hence, attracting the international customers has been a great challenge for the companies to attract the medical travelers. These companies have potential strategies that help in creating number awareness in the target audience. This strategy has helped successfully building the brands and has influenced the market growth in the recent past. Furthermore, the patients travelling for medical to the developing countries due to affordability, better and higher level of quality of healthcare to also boost the medical tourism market in the coming years.

Request for sample copy of this report @   https://www.polarismarketresearch.com/industry-analysis/medical-tourism-market/request-for-sample

Considering, the cost factor for the healthcare in the U.S. continues to rise. According to the Visa and Oxford Economics, the figure of will grow up to 25% in coming years. Also, this increase would cover various treatment range like orthopedic surgeries, dental work, and cosmetic surgery. However, issues with the patient follow-up and post surgical complications, and different standards for the treatment in various countries would impede the medical tourism market growth.

Asia-Pacific generated the highest revenue in the medical tourism market in 2017, and is expected to be the leading region globally during the forecast period. Increasing demand, accessibility of healthcare facilities, increasing number of medical facilities for international patients are the primary factors driving the market growth in this region. Additionally, decreased cost of various treatment procedures in the countries across Asia Pacific to also boost the market growth in coming years. Moreover, India is considered to be the leading market followed by Brazil in the medical tourism market during the forecast period. In addition to this, Turkey is considered to be strong contender in the market, owning to zero waiting time for the treatment with a quality healthcare facility.

The key players operating in the medical tourism market include Bumrungrad International hospital, Apollo Hospitals Enterprise Limited, KPJ Healthcare Berhad, Prince Court Medical Center, Raffles Medical Group, Fortis Healthcare, and Samitivej Hospital. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world.

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Medical Tourism Market Incredible Potential Examined in New Research Report

Transparency Market Research (TMR) has published a new report titled, ‘Medical Tourism Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global medical tourism market was valued at US$ 61.3 Bn in 2018 and is projected to expand at a CAGR of over 10.5% from 2019 to 2027.

Overview

  • Medical tourism refers to people traveling abroad to obtain medical treatment. In the past, this usually referred to those who traveled from less-developed countries to major medical centers in highly developed countries for treatment unavailable at home.
  • Increasing Joint Commission International (JCI) accredited hospitals across the global drive the medical tourism market. Asia top medical tourism countries including China, India, Japan, South Korea, Singapore, Thailand, Malaysia, Philippines have more than 300 hundred Joint Commission International (JCI) accredited hospitals in
  • Asia Pacific dominate the global medical tourism market in 2019 and the trend is anticipated to continue during the forecast period. Low medical cost, acceptance of advanced treatment and increasing health care infrastructure are anticipated to boost the growth of the medical tourism market in Asia Pacific. However, the regions is expected to gain more market share from developed markets such as Europe and North America during the forecast period from2019 to 2027.
  • Growth of the market in Europe is driven by high demand for medical treatment across the global and increasing health care expenditure in markets such as France, Italy and Germany. Moreover, increasing medical tourism market in Germany Italy Poland and UK in this region are expected to fuel the growth of the market in Europe.

Request a PDF Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=900

Low cost medical treatment and Advertising and marketing to Drive Global Medical Tourism Market

  • Rise in health care costs in most of the developed countries is putting significant pressure on both health care providers and individuals. Health care access in several countries is regulated by government health care system and mired with delays and long waiting lists. This forces people to travel abroad to access the necessary medical treatment needs.
  • Availability of more affordable treatment option in the developing countries such as India, Thailand, Malaysia, Turkey, and Singapore is also driving the medical tourism market
  • The cost of surgery in Thailand, South Africa, or India is just one tenth the cost in the U.S and Western Europe. Knee replacement surgery in Thailand along with six days of physical therapy costs around one fifth that in the U.S.
  • In this generation of social media, most of the patient population uses Internet as an alternative for finding information about medical care abroad. Hence, hospitals in the destination countries are focusing on inbound marketing to attract patients and spread awareness about the various facilities available.
  • Social media marketing and blogging are few strategies adopted by hospitals to attract traffic to their websites. Government bodies in several countries are also providing grants, training, and medical tourism courses to spread awareness among providers and patients.

Orthopedic Surgery to Dominate Medical Tourism Market

  • In terms of medical treatment, the global medical tourism market has been segmented into cosmetology, dentistry, cardiology, orthopedic surgery, neurology, oncology and others.
  • Orthopedic surgery dominated the global medical tourism market in2018 and the trend is projected to continue during the forecast period. Increasing sports injuries drive the segment globally. Major sports including Football (Soccer), Cricket, Rugby, Basketball, Baseball & Softball, Bicycling. Around 500,000 Americans leave the country each year for some sort of elective medical procedure, including orthopedic procedures.
  • However, cardiology segment is expected to grow with the highest CAGR in the forecast period. Increasing demand for cardiovascular surgery drive this segment. US, India, Singapore and Israel dominate in the market across the global.

Request for Analysis of COVID19 Impact on Medical Tourism Market Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=900

Asia Pacific to Dominate Global Medical Tourism Market

  • In terms of region, the global medical tourism market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific dominated the global medical tourism market in 2018, followed by Europe.
  • Asia Pacific accounted for major share of the global medical tourism market in 2018. The growth of the region is attributed to rising demand for medical treatments among medical tourists at low cost and high quality. According to an article published in CBI, Ministry of Foreign Affairs, European patients are increasingly travelling abroad for medical treatments as the price of European healthcare continues to rise and waiting lists are getting longer. About 14 million patients use medical services outside of their country of residence each year, according to Patients Beyond Borders.
  • Increasing medical cost in developed countries such US and UK drive the medical tourism market in Latin America and Middle east & Africa region. Mexico, Costa Rica, Jordan, Turkey, Israel are dominate in this region for medical tourism market.

Competitive Landscape

  • The global medical tourism market is fragmented in terms of number of players. Key players in the global medical tourism market include Asklepios Kliniken GmbH,  Fortis Healthcare Limited, Apollo Hospitals Enterprise Limited, Bangkok Chain Hospital Public Company Limited, Bumrungrad International Hospital, Saudi German Hospital (SGH) Group , Dr. Soliman Fakeeh Hospital, Bahrain Specialist Hospital , Hamad Medical Corporation,Al Zahra Hospital, Al Rahba Hospital, Zulekha Hospital, Samitivej PCL, Phyathai Hospitals Group,  The Ac?badem Hospitals Group, Razavi Hospital, Jordan Hospital.  

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Industry Dynamics: What Makes Medical Tourism Market Outperforming Its Substitutes Despite COVID-19 Chaos?

Traveling to overseas for affordable and state-of-the-art medical care and treatment is basically termed as medical tourism. Years back, people from developing countries used to travel to highly developed countries seeking advanced and safer treatment, which was barely available in their own countries. Today, people from developed countries travel to developing countries for cost-effective medical treatments, which has slightly changed the traditional concept of medical tourism.

The medical tourism market share is predicted to rise at a CAGR of 12.4% and is expected to reach $149.34 Million till 2026. Earlier, in 2018, market was valued $58.62 Billion.

Medical tourism means when a person travels to the other country to undergo a treatment. This is usually done by the patient when the medication is more expensive in their respective country or due to the unavailability of advanced medication and machinery in their home country. Basically, medical tourism is the combination of medical treatment and travel at the same time. It means that one travels to another country for medical purposes spending a few days abroad and combines a vacation with the medical procedure.

The high cost of treatment in the home country and the availability of advanced medical facilities in the developing countries is predicted to drive the medical tourism market. Affordability and convenience of the good medical facilities with the guidance from the tourism department is expected to drive the medical tourism industry. For instance, in the U.S the cost spend for heart surgery will be almost 80% more than the total cost spends in Asian countries. So, due to these factors, many developed countries patients are preferring to get treated in the developing nation or the nation with high medical facilities with lesser cost for the treatment; these factors are predicted to boost the global medical tourism industry.

Private healthcare is expensive and many insurance companies don’t cover the insurance. There are many circumstances the patient has to face with regards to their insurance policy and regulation. For instance, insurance may not be covered by the company if the treatments are carried out overseas; if the insurance is covered then the insurance companies don’t pay the airfare and extra expenditures. Due to reimbursement policies, patients are forced to stay at their home country and get treated which is consider to be the major restraint for the medical tourism market.

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On the basis of the service type, medical tourism market size for Cosmetic segment is projected to generate a revenue of $31,063.9 million by 2026 with a CAGR of 11.9% in the forecast period. The curiosity of people to look different and change their appearance to keep themselves confident is predicted to boost the cosmetic treatment segment in the forecast period. Cancer treatment is projected to have the highest growth rate in the estimated period. The Medical tourism market share for cancer treatment is estimated to rise at a CAGR of 14.2% by generating a revenue of $7,616.6 million by 2026. The rise in occurrences of cancer worldwide is estimated to boost the cancer treatment segment. The treatment of cancer takes a lot of time, and patients prefer going outside their home country for their treatment due to better medical amenities with lesser cost. Medical tourism market forecast that cancer treatment segment in medical tourism market is going to experience a boost the in the forecasted period.

Based on the region segmentation Asia-Pacific has the highest growth rate. Asia-Pacific region is estimated to rise with a CAGR of 12.2% by generating a revenue of $54,452.9 million by 2026. The Asia-Pacific region provides all the medical amenities at a reasonable price so that the patient can afford it and can be cured. Due to the tourism friendliness and government policies with regards to tourism not being that strict, patients prefer the Asia-Pacific region to get them treated. These factors will boost the medical tourism market in this region.

The major key companies in the market are Prince Court Medical Centre, Aditya Birla Memorial hospital, KPJ Healthcare Berhad, UZ Leuven, Apollo Hospitals Enterprise Ltd, Fortis Healthcare, NTT Medical Centre, Asklepios Kliniken GmbH, Bumrungrad International Hospital, KPJ Healthcare Berhad and Asian Heart Institute among others.

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Industry Dynamics: What Makes Medical Tourism Market Outperforming Its Substitutes Despite COVID-19 Chaos?

The worldwide spread of COVID-19 has adversely affected the global medical tourism market. Nevertheless, the market is likely to recover by Q1/Q2 of 2022. Due to a lockdown declared across the globe, many countries closed the borders and restricted travel to prevent COVID-19 spread, which is hampering the global growth. However, the increasing interest amongst people regarding better-quality healthcare treatment is likely to help the market to grow during the forecast period. For instance, India has launched M-visa facility to help foreigners to enter the country for healthcare treatment.

The global medical tourism market is likely to observe a decline in the growth due to the COVID-19 pandemic all over the world. According to a new research report published by Research Dive, the global medical tourism market is projected to reach up to $142.2 billion and grow at a CAGR of 11.7% during the forecast period from 2019 to 2026.

Though there is a decline in the growth rate, the market is anticipated to recover by the end of Q1/Q2 of 2022. Comprehensive analysis on drivers, growth opportunities, restraints, vital segments, and strategies implemented by major market players are further provided in the report to better understand the pandemic effect on the global industry.

Connect with Analyst to Reveal How COVID-19 Impacting On Market: https://www.researchdive.com/connect-to-analyst/248

• Key Features of the Market

– Our analysts stated that the advancements in technology and rising interests of people regarding better-quality healthcare treatment are the major factors boosting the growth of global medical tourism market.

– The predicted market size of the medical tourism industry post COVID-19 pandemic is $44.2 billion in 2020, which is a drastic decline from $73.7 billion before the pandemic situation.

– However, risk associated with travel after surgery, quality of staff members, and language barrier are factors restricting the market growth in the coming future.

• Strategies & Initiatives to Sustain in Pandemic Situation

Many countries across the globe are investing more in developing facilities of medical tourism by inviting well-known medical specialist from Mayo Clinic, Cleveland, Clinic, and Harvard Medical International. Besides, other countries are implementing different strategies to increase the medical tourism market growth. For instance, M-visa is introduced by India that allow foreigners to enter the country and this visa can be issued in less time.

Moreover, in Singapore doctors are treating people to maximum of three different locations, which is based on the guidelines of MOH (Ministry of Health) to prevent the spread of coronavirus.

The major players of the global medical tourism market Shouldice Hospital, Prince Court Medical Centre, Bangkok Hospital, Gleneagles Global Hospitals Group, Clemenceau Medical Centre, and Anadolu Medical Centre.

Download Exclusive Free Sample Copy of the Report at: https://www.researchdive.com/download-sample/248

• Post-Pandemic Scenario

As per the report, the global medical tourism market is estimated to witness impressive growth post-coronavirus pandemic. People are seeking medical tourism due to the benefits such as easy accessibility of medication and availability of treatment coupled with low cost. This will help the market to grow exponentially during the forecast period.

Countries such as India, Thailand, and Singapore are gaining popularity owing to availability of treatment with reduced cost. For instance, the coronary bypass surgery in the U.S. costs for $113,000, while in other countries such as Singapore, Thailand, and India costs only 5-10% of the total spending. Thus, this will demand for medical tourism in the forecast period, thereby, fueling the growth of global market after COVID-19 pandemic.

Contact Us:

Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York
NY 10005 (P)
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+1 (917) 444-1262 (US) Toll
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Blog: https://www.researchdive.com/blog
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