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Medical Tourism Market to hit $165,345 million by 2023: Big Market Research

The global medical tourism market accounted for $61,172 million in 2016, and is estimated to reach at $165,345 million by 2023, registering a CAGR of 15.0% from 2017 to 2023. Medical tourism can be defined as an organized travel across international borders with the purpose of availing medical treatment of some form, which may or may not be available in the travelers’ home country.

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Medical tourists travel abroad for the maintenance, enhancement, or restoration of their health through affordable healthcare facilities & treatments available in other countries, which are comparatively expensive in their own country. It is also linked with leisure and business travel. Therefore, there are several definitions of medical tourism in the market. Some of them include cosmetic, dental, wellness, and spa services. However, for the purpose of this report, wellness, spa, cosmetic, and dental treatment are excluded from the scope of this study.

Availability of affordable medical care & treatment in developing countries and growth in compliance on international standards drive the market. In addition, availability of latest medical treatments augment market growth. However, limited coverage and lengthy partial reimbursement by payers and epidemic outbreaks restrict the market. Furthermore, wider hospital network under insurance coverage for cashless transaction provides lucrative opportunities to the market players.

The medical tourism market is segmented based treatment type and geography. By treatment type, the market is divided into cardiovascular treatment, orthopedic treatment, neurological treatment, cancer treatment, fertility treatment, and other treatments. By geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

This study provides a comprehensive overview of the competitive scenario of the market by profiling key market participants. The service providers profiled in this study include

KEY MARKET BENEFITS FOR STAKEHOLDERS

  • The study provides an in-depth analysis of the global medical tourism market and the current trends and future estimations to elucidate the imminent investment pockets.
  • It presents a quantitative analysis of the market from 2016 to 2023 to enable stakeholders to capitalize on the prevailing market opportunities.
  • Extensive analysis of the market based on application assists to understand the trends in the industry.
  • Key market players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

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KEY PLAYERS PROFILED IN THE REPORT

  • Apollo Hospitals Enterprise Ltd.
  • Fortis Healthcare Ltd.
  • Asian Heart Institute and Research Centre Pvt. Ltd.
  • KPJ Healthcare Berhad
  • Barbados Fertility Centre
  • NTT Medical Center Tokyo
  • Seoul National University Hospital
  • UZ Leuven (University Hospitals Leuven)
  • Infectious Diseases Partners Pte. Ltd.
  • Aditya Birla Memorial Hospital
  • Prince Court Medical Centre
  • Samitivej Public Company Limited;

KEY MARKET SEGMENTS

 By Treatment Type

  • Cardiovascular Treatment
  • Orthopedic Treatment
  • Neurological Treatment
  • Cancer Treatment
  • Fertility Treatment
  • Others

 By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • India
    • China
    • Indonesia
    • Singapore
    • Malaysia
    • Thailand
    • South Korea
    • Taiwan
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Venezuela
    • Costa Rica
    • UAE
    • South Africa
    • Rest of LAMEA

The other players in the value chain include (profiles not included in the report)

  • Bumrungrad International Hospital
  • Min-Sheng General Hospital
  • Raffles Medical Group
  • Bangkok Hospital Medical Center

 

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Jena Davydova

Chief editor of review team at The Innovative Reports and Market Research Analyst, Jena is an expert in the area of B2B and SaaS related products. She has worked for several B2B startups in the past and gathered a lot of first hand knowledge about the industry during that time.

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