Global Medical Tourism Market Insights & Projections, 2019-2024 – A $27+ Billion Opportunity, Driven by Growing Compliance on International Quality Standards
The global medical tourism market was valued at
The factors associated with the growth of the market include higher treatment cost in developed countries, availability of the latest medical technologies, growing compliance on international quality standards, high quality of service, health insurance portability, and advertising and marketing of the medical tourism.
The cost of undergoing medical treatment in a developed country is very high. It is estimated that although the treatments are of reliable quality, the procedures tend to be on the expensive side. Along with this, the major healthcare products are also quite extravagantly priced. This scenario places a big burden on the healthcare systems, worldwide, accompanied by the additional rising costs of litigation during recent times.
Healthcare practitioners need to be aware of both the direct and indirect costs and consider how the implementation of prevention protocols may offer cost savings in the longer term. People in developed countries cannot afford the huge expenditure associated with medical treatments.
Not all medical bills are covered by insurance companies, which makes the patients turn to countries abroad. Countries in
Key Market Trends
Fertility Treatments Segment Expected to Have Highest CAGR
The fertility treatments segment of the medical tourism market is believed to show the fastest growth over the forecast period. The segment is expected to record a CAGR of 9.7% over the forecast period. Fertility treatment is one of the most common treatments for which medical tourists elect to travel across international borders. Fertility tourism or reproductive tourism is one of the fastest-growing areas.
About 20,000 to 25,000 couples annually seek assisted reproductive technology services abroad. An estimated 4.0% of
Asia-Pacific Currently Dominates the Market
The
Competitive Landscape
The global medical tourism market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and quality service provision, mid-size to smaller companies are increasing their market presence by introducing new products with fewer prices.
Companies, like Health Base, Apollo Hospitals, KPJ Healthcare, and Klinikum Medical Link hold the significant market share in the medical tourism market.
Topics Covered
1 Introduction
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 Research Methodology
3 Executive Summary
4 Market Dynamics
4.1 Market Overview
4.2 Market Drivers
4.2.1 High Treatment Cost in Developed Countries
4.2.2 Availability of Latest Medical Technologies
4.2.3 Growing Compliance on International Quality Standards
4.2.4 High Quality of Service
4.2.5 Health Insurance Portability
4.2.6 Advertising and Marketing
4.3 Market Restraints
4.3.1 Ethical Concerns
4.3.2 Epidemic Outbreaks
4.3.3 Issues with Patient Follow Up and Post-procedure Complications
4.3.4 Medical Record Transfer Issues
4.4 Industry Attractiveness of Porter's Five Forces Analysis
5 Market Segmentation
5.1 By Treatment Type
5.1.1 Cosmetic Treatment
5.1.2 Dental Treatment
5.1.3 Cardiovascular Treatment
5.1.4 Orthopedics Treatment
5.1.5 Bariatric Surgery
5.1.6 Fertility Treatment
5.1.7 Ophthalmic Treatment
5.1.8 Other Treatments
5.2 Geography
5.2.1
5.2.2
5.2.3
5.2.4
5.2.5
6 Competitive Landscape
6.1 Company Profiles
6.1.1 MedRetreat
6.1.2 Health Base
6.1.3 Apollo Hospitals
6.1.4 KPJ Healthcare Behard
6.1.5 Klinikum Medical Link
6.1.6 Euromedical Tours
6.1.7 BB Health Solutions
6.1.8
7 Market Opportunities and Future Trends
For more information about this report visit
https://www.researchandmarkets.com/research/256kw7/global_medical?w=5
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