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The global Medical tourism market size is expected to reach USD 254.54 Billion in 2032 registering a CAGR of 10.7%
VANCOUVER, BRITISH COLUMBIA, CANADA, June 28, 2024 /EINPresswire / -- The global Medical Tourism Market size was USD 93.27 Billion in 2022 and is expected to register a revenue CAGR of 10.7% during the forecast period. Increasing exorbitant expenses associated with medical treatments in developed countries, rising prevalence of various chronic diseases, limited insurance coverage in some countries draws patients to medical tourism, extended waiting periods experienced in developed countries, and increasing adherence to international quality standards are some of the key factors driving market revenue growth
The global medical tourism market has been witnessing substantial growth in recent years, driven by a convergence of factors that include cost-effective treatments, advanced medical technologies, and increasing globalization of healthcare services. Medical tourism involves individuals traveling across borders to receive medical treatment, often at lower costs or with higher availability of specialized procedures compared to their home countries. This industry encompasses a wide range of medical services, from cosmetic surgeries and dental treatments to complex procedures like cardiac surgeries and organ transplants.
Leading companies looking for new revenue streams will find this research very helpful in understanding the market and its underlying dynamics. It is useful for companies looking to diversify into new markets or expand their current scope of operations.
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Some of the prominent players operating in the market are:
Prince Court Medical Centre, Aditya Birla Health Services Ltd., Fortis Healthcare, Apollo Hospitals Group,Klinikum Medical Link, Ltd,KPJ Healthcare Berhad., NTT Medical Center Tokyo ,Shouldice,Bangkok Hospital and Bumrungrad International Hospital
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We have recently released a 250-page report from Emergen Research that includes 194 tables and 189 charts and graphics. Those who need commercial, in-depth market assessments for the global Medical Tourism Market, as well as a detailed market segment analysis, can find our new report valuable. Our recent study provides a thorough assessment of the whole regional and global market for Medical Tourism Market. To increase market share, obtain a comprehensive financial analysis of the whole market and its various segments. It is clear that energy storage technology is rapidly expanding. Look at how you might take advantage of the current and future revenue-generating opportunities in this industry. Additionally, the research will assist you in making more effective strategic decisions, such as building growth strategies, strengthening competitor analysis, and increasing business productivity.
Drivers of Market Growth
Several key drivers propel the growth of the medical tourism market. Foremost among these is the rising healthcare costs in developed countries, which prompt patients to seek more affordable options abroad without compromising on quality. Additionally, long waiting times for certain medical procedures in some countries push patients towards medical tourism destinations where treatments can be expedited. The availability of world-class medical facilities and highly skilled healthcare professionals in popular medical tourism hubs also attracts patients seeking specialized treatments that may not be readily accessible in their home countries.
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Restraints Facing the Market:
Despite its rapid expansion, the medical tourism industry faces several challenges. One significant restraint is the varying standards and regulations across different countries, which can lead to concerns about quality assurance and patient safety. Cultural and language barriers may also pose challenges to effective communication between patients and healthcare providers. Moreover, the logistical complexities of international travel for medical purposes, including visa issues and travel
Segments covered in the report:
For the purpose of this report, Emergen Research has segmented global medical tourism market on the basis of procedure type, service providers, service type, tourist type, tour type, customer orientation, age group, booking channel, and region:
Procedure Type Outlook (Revenue, USD Billion; 2019-2032)
Cardiovascular
Orthopedic
Cosmetic
Dental
Cancer
Fertility
Neurological
Others
Service Providers Outlook (Revenue, USD Billion; 2019-2032)
Public
Private
Service Type Outlook (Revenue, USD Billion; 2019-2032)
Wellness services
Therapeutic services
Alternative Treatment
Tourist Type Outlook (Revenue, USD Billion; 2019-2032)
Domestic
International
Tour Type Outlook (Revenue, USD Billion; 2019-2032)
Independent Traveller
Tour Group
Package Traveller
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Geographic Segment Covered in the Report:
The Medical Tourism Market provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
. North America (USA and Canada)
. Europe (UK, Germany, France and the rest of Europe)
. Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
. Latin America (Brazil, Mexico, and the rest of Latin America)
. Middle East and Africa (GCC and rest of the Middle East and Africa)
What Questions Should You Ask before Buying a Market Research Report?
How is the Medical Tourism Market evolving?
What is driving and restraining the Medical Tourism Market?
How will each Medical Tourism Market submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2032?
How will the market shares for each Medical Tourism Market submarket develop from 2024 to 2032?
What will be the main driver for the overall market from 2024 to 2032?
Will leading Medical Tourism Market broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
How will the market shares of the national markets change by 2032 and which geographical region will lead the market in 2032?
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