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  • 14 February 2020 22:05

Medical Tourism Market to Witness Growth Acceleration during 2019-2030 - Fortis Healthcare, Apollo International

Market Industry Reports (MIR) now presents the updated research report on ‘Global Medical Tourism Market 2019-2030’ with deep analysis on major opportunities for the industry players, current trends and ongoing activities, and competitors’ information. Researchers have also highlighted information on product for a better picture to the end users.

“Medical Tourism” refers to the process of traveling outside the country of residence to seek healthcare services. The most common types of procedures that patients pursue during medical tourism are orthopedic treatment, bariatric treatment, and fertility treatment among others. It is a revenue-generating industry and also aids in employment creation. This also benefits citizens’ access to quality healthcare services at affordable costs. Market Industry Reports (MIR) has published a new report titled “Medical Tourism Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global medical tourism market is estimated to be over US$ ~15.0 Billion in 2018. It is anticipated to grow at a CAGR of ~23.0% from 2019 to 2030.

Rising healthcare costs in developed countries are forcing people to seek medical care in countries providing quality healthcare services at affordable costs. The significant growth of the medical tourism market can be attributed to the affordability and accessibility of good healthcare services in other countries. According to the Centers for Disease Control and Prevention, thousands of U.S. residents travel abroad for medical care each year.

Major Key Players of the Medical Tourism Market are:
Fortis Healthcare, Apollo International, Asian Heart Institute, Samitivej PCL., SEOUL NATIONAL UNIVERSITY HOSPITAL, Barbados Fertility Center, Prince Court Medical Centre, UZ Leuvan, Wooridul Spine Hospital, and ADITYA BIRLA HEALTH SERVICES LTD, among others.

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Medical tourism involves patients traveling to another country to avail medical care at a lower cost with quality care. Other factors influencing medical tourism include the lower price of treatment as compared to the home country, technological advancement, lesser stringent regulation, and immediate availability of medical procedures. Hospitals that facilitate medical tourism provides services from basic consultation to full-service treatment. Most of the medical tourism facilitators provide non-medical facilities such as visas, travel, lodging, and tourism making it a more convenient stay for the patient and their family. In 2018, Malaysia’s Sunway Medical Centre has been awarded Medical Tourism Hospital of the year along with Bumrungrad International hospital in APAC. It is also recognized for the oncology & neurology service for the same year.

However, factors which may hinder market growth include language and culture barrier and risk of blood clots after surgery due to flying. Prior preparations are required when having surgery in a country where English is not a primary language. Also, physicians and surgeons are concerned about the quality of care provided. Local doctors are hesitant to take follow-up care of the patient who has received care outside the country. Moreover, outbreaks of infectious diseases among medical tourists that underwent surgery are restraining the medical tourism market.

Major Types of Medical Tourism Market covered are:
Cosmetic Treatment
Cardiovascular Treatment
Orthopedic Treatment
Bariatric Treatment
Neurological Treatment
Fertility Treatment

Research objectives:-

– To study and analyze the global Medical Tourism consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Medical Tourism market by identifying its various sub-segments.
– Focuses on the key global Medical Tourism manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Medical Tourism with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).

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Table of Content

1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered

2 Global Growth Trends
2.1 Medical Tourism Market Size
2.2 Medical Tourism Growth Trends by Regions
2.3 Industry Trends

3 Market Share by Key Players
3.1 Medical Tourism Market Size by Manufacturers
3.2 Medical Tourism Key Players Head office and Area Served
3.3 Key Players Medical Tourism Product/Solution/Service
3.4 Date of Enter into Medical Tourism Market
3.5 Mergers & Acquisitions, Expansion Plans

4 Breakdown Data by Product
4.1 Global Medical Tourism Sales by Product
4.2 Global Medical Tourism Revenue by Product
4.3 Medical Tourism Price by Product

5 Breakdown Data by End User
5.1 Overview
5.2 Global Medical Tourism Breakdown Data by End User

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In the end, Medical Tourism industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, and market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.

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