Medical Tourism Market Anticipating Future Market Size: A Strategic Advantage for Business Leaders

The Medical Tourism Market worldwide is anticipated to expand significantly, with an estimated value of $255,153.2 million by 2031 and a healthy annual growth rate of 20.2% for the forecast period of 2021–2031. Numerous factors, such as rising healthcare costs in developed nations, restricted insurance coverage and benefits in local markets, increased demand for specialised procedures like gender reassignment surgery and reproductive therapy, and improved access to cutting-edge treatment options, can be blamed for this growth.

Patients are increasingly looking for alternate options for medical treatments abroad as healthcare expenses continue to grow in wealthy countries. Many local markets lack complete healthcare coverage and offer little insurance benefits, which encourages people to consider medical tourism as a potential remedy. The industry is also fueled by the rising desire for uninsured operations like gender reassignment surgery and reproductive therapy, as well as the accessibility of the most cutting-edge therapeutic solutions currently available.

Additionally, the ageing population and the rise in lifestyle-related illnesses have an impact on the global medical tourism business, increasing the demand for specialised medical treatments. As a result, patients are looking for medical tourism locations that provide cutting-edge facilities, highly qualified medical staff, and affordable treatment alternatives.

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The thorough market research study offers in-depth insights into the elements influencing the expansion of the worldwide medical tourism market, as well as major market trends, new business prospects, and industry participant obstacles. This research is a useful tool for stakeholders, decision-makers, healthcare professionals, and investors who want to comprehend and take advantage of the lucrative potential in the medical tourism business. It does so with in-depth analysis and precise forecasts.

Global medical tourism market will reach $255,153.2 million by 2031, growing by 20.2% annually over 2021-2031, driven by the growing healthcare expenses in developed countries, inadequate insurance benefits and a lack of healthcare insurance in the local market, increased demand for non-covered operations such as gender reassignment surgery and reproductive therapy, the rising accessibility to the most recent and technologically radical procedures of treatment, and the growing lifestyle-related disorders along with the aging population.

Highlighted with 86 tables and 92 figures, this 176-page report “Global Medical Tourism Market 2021-2031 by Specialty Type (Cosmetic, Cardiac, Orthopedic, Dental, Fertility, Organ Transplant, Bariatric), Tourism Type, Consumer Group, Tour Type, and Region: Trend Forecast and Growth Opportunity” is based on comprehensive research of the entire global medical tourism market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2019-2021 and provides forecast from 2022 till 2031 with 2021 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

In-depth qualitative analyses include identification and investigation of the following aspects:

• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces

The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify global medical tourism market in every aspect of the classification from perspectives of Specialty Type, Tourism Type, Consumer Group, Tour Type, and Region.

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Based on Specialty Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

• Cosmetic Surgery

o             Breast Surgery

o             Face Surgery

o             Liposuction

o             Other Cosmetic Surgeries

• Cardiac Surgery

o             Coronary Artery Bypass Surgery (CABG)

o             Angioplasty

o             Other Cardiac Surgeries

• Orthopedic Treatment

o             Knee Replacement

o             Hip Replacement

o             Other Orthopedic Treatments

• Dental Treatment
• Fertility Treatment
• Organ Transplant

o             Liver Transplant

o             Kidney Transplant

o             Bone Marrow Transplant

o             Other Organ Transplants

• Bariatric Surgery
• Other Specialty Types

Based on Tourism Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

• International Tourism
• Domestic Tourism

By Consumer Group, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

• Men
• Women
• Kids

By Tour Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

• Independent Travelers
• Tour Group
• Package Travelers

Geographically, the following regions together with the listed national/local markets are fully investigated:

• North America (U.S., Canada, and Mexico)
• Europe (Poland, UK, France, Spain, Greece, Hungary and Rest of Europe; Rest of Europe is further segmented into Netherlands, Switzerland, Germany, Sweden, Belgium, Austria, Ireland, Norway, Denmark, Finland, and Italy)
• APAC (Japan, China, Thailand, Singapore, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, South Korea, Indonesia, Australia, New Zealand, Vietnam, Taiwan, and Philippines)
• South America (Brazil, Costa Rica, Argentina, Rest of South America)
• MEA (UAE，Turkey, South Africa and Rest of MEA)

For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2021-2031. The breakdown of all regional markets by country and split of each national market by Specialty Type, Tourism Type and Consumer Group over the forecast years are also included.

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The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.

Selected Key Players:

Aditya Birla Memorial Hospital

Anadolu Medical Center

Apollo Hospital Enterprise Limited

Asian Heart Institute

Asklepios Kliniken GmbH and Co. KGaA

Bangkok Hospital Medical Center

Barbados Fertility Center

Bumrungrad International Hospital

Clemenceau Medical Center

Fortis Healthcare

Gleneagles Hospital

KPJ Healthcare Berhad

Prince Court Medical Center

Raffles Medical Group

Samitivej Plc

Seoul National University Hospital

UZ Leuven

View Report Scope and Latest Developments in the Market: https://www.marketwatch.com/press-release/medical-tourism-market-projected-to-reach-2551532-million-by-2031-fueled-by-increasing-healthcare-expenses-and-demand-for-advanced-treatments-2023-06-02?mod=search_headline

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