CHICAGO, Sept. 7, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global medical tourism market report.
The medical tourism market is expected to grow at a CAGR of over 29.29% during the period 2020-2026.
Key Highlights Offered in the Report:
- The global medical tourism market is expected to witness an incremental growth of around USD 152 billion and absolute growth of over 367% during the forecast period.
- The cardiac surgery segment to post an incremental growth of USD 30.12 billion by 2026.
- The cosmetic surgery and cardiac surgery held market shares of 18.15% and 15.43%, respectively, in the market in 2020.
- In specialty type segment, cosmetic surgery is anticipated to witness highest incremental growth of around USD 28 billion and fertility treatment is expected to witness highest absolute growth of over 382% during the forecast period.
- The APAC region is dominating the global medical tourism market and is likely to witness highest incremental growth of USD 64 billion and Latin America is expected to witness highest absolute growth of over 427% during the forecast period.
Key Offerings:
- Market Size & Forecast by Revenue | 2020-2026
- Market Dynamics - Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation - A detailed analysis by specialty type and geography
- Competitive Landscape - 53 vendors are profiled in the report
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Medical Tourism Market - Segmentation
- In 2020, breast surgery accounted for a share of 34.55% in the cosmetic surgery segment. Breast surgeries are one of the most performed cosmetic surgeries across the world. These include popular procedures such as breast augmentation, breast lift, and breast reduction.
- Popular destinations for medical tourists in search of these cardiac procedures are Thailand, Malaysia, Israel, India, Poland, Jordan, Colombia, and other developing nations that provide quality cardiac care at cost-effective rates. The advances in medical technology have enabled the availability of cutting-edge procedures in India, Thailand, Mexico, and other developing countries.
- In 2020, the organ transplant segment accounted for a share of 8.20% in the global medical tourism market. Organ transplant is a relatively recent phenomenon, which is making millions of people travel abroad for surgery.
Medical Tourism Market by Specialty Type
- Cosmetic Surgery
- Breast Surgery
- Face Surgery
- Liposuction
- Others
- Cardiac Surgery
- Coronary Artery Bypass Surgery (CABG)
- Angioplasty
- Others
- Orthopedic Treatment
- Knee Replacement
- Hip Replacement
- Others
- Dentistry
- Fertility Treatment
- Organ Transplant
- Liver Transplant
- Kidney Transplant
- Bone Marrow Transplant
- Others
- Others
Medical Tourism Market - Dynamics
Medical tourism is playing a significant role in shaping the future of medical care worldwide owing to technological advances, economic growth, and global relations. It has emerged as one of the fastest-growing tourism sectors, with many countries strategically planning for their economic expansion. The emergence of healthcare intermediaries or medical tourism facilitators between international patients and hospital networks is driving the growth of the medical tourism segment. Medical travel facilitators offer integrated knowledge of medical services and travel facilitation and concierge services, forming a three-dimensional support system for health travelers. The medical tourism facilitator model dominates the medical tourism industry. Many medical tourism companies follow this typical promotion and marketing approach to attract potential tourists instead of direct online promotion and positioning through usual tourism promotion channels.
Key Drivers and Trends fueling Market Growth:
- Emergence of Online Medical Tourism Start-ups
- Investment and Joint Ventures Fueling Medical Tourism
- Availability of Low-Cost Treatment Options
- Increasing Arrival of Medical Tourists
Medical Tourism Market - Geography
In 2020, APAC accounted for the largest market share due to lower healthcare costs, the presence of several JCI-accredited hospitals with skilled medical staff, technological advances, and quality administration in its healthcare sector. Furthermore, the rising geriatric population, high medical insurance costs in developed regions, and the availability of affordable, world-class medical facilities in Asian countries are driving the regional medical tourism market. The huge inflow of patients from Western countries has directly contributed to the growth of the market, as many countries in APAC are major tourist destinations for medical travelers with vacation plans after undergoing medical treatment.
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Medical Tourism Market by Geography
- APAC
- Thailand
- Malaysia
- Singapore
- India
- Taiwan
- Japan
- South Korea
- Middle East & Africa
- Turkey
- UAE
- Jordan
- South Africa
- Israel
- Latin America
- Mexico
- Brazil
- Argentina
- Costa Rica
- Europe
- UK
- Spain
- France
- Poland
- Greece
- Hungary
- Czech Republic
- North America
- US
- Canada
Prominent Vendors
- Acibadem Healthcare Group
- Aditya Birla Health Services
- American Hospital Dubai
- Anadolu Medical Center
- Apollo Hospitals Enterprise Ltd
- Asian Heart Institute
- Asklepios Kliniken GmbH & Co. KGaA
- Bangkok Hospital
- Barbados Fertility Center
- Bumrungrad International Hospital
- Changi General Hospital
- Christus Muguerza
- Clemenceau Medical Centre
- Clinica Biblica Hospital
- Dubai Hospital
- Fortis Healthcare
- Gleneagles Global Hospitals
- Grup Florence Nightingale Hastaneleri
- Healthpoint
- HCor
- Hospital Israelita Albert Einstein
- Hospital Samaritano
- International Modern Hospital Dubai
- Kent Hospital
- King Hussein Cancer Center
- Klinikum Medical Link
- KPJ Healthcare Berhad
- Loewenstein Hospital
- Max Healthcare
- Medanta The Medicity
- Memorial Hospitals Group
- Min-Sheng General Hospital
- Mount Elizabeth Hospital
- Na Homolce Hospital
- National University Health System
- Nippon Telegraph and Telephone East Corporation
- Prince Court Medical Centre
- Raffles Medical Group
- Samitivej PCL
- Seoul National University Hospital
- Severance Hospital
- Shroff Eye Hospital
- SingHealth Group
- Specialty Hospital
- Spire Healthcare Group plc
- St. Luke's Medical Center
- Taipei Medical University Hospital
- Tan Tock Seng Hospital
- The Johns Hopkins Hospital
- The University of Texas MD Anderson Cancer Center
- UZ Leuven
- Wockhardt Hospitals
- Zulekha Healthcare
Explore our healthcare & lifesciences profile to know more about the industry.
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