The Medical Tourism Global Market Report 2023 by The Business Research Company, provides medical tourism market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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In accordance with The Business Research Company’s Medical Tourism Global Market Report 2023, there is a projected surge in the global medical tourism market, with a trajectory from $35.77 billion in 2022 escalating to $39.95 billion in 2023, signifying an impressive compound annual growth rate (CAGR) of 11.7%. However, the geopolitical turmoil stemming from the Russia-Ukraine conflict has cast a shadow over global economic recuperation in the immediate aftermath of the COVID-19 pandemic. The ramifications include widespread economic sanctions, amplified commodity prices, supply chain perturbations, and resultant inflation, all of which have reverberated through diverse global markets. Despite these challenges, the expansive landscape of the global medical tourism market is poised for robust expansion, reaching an estimated $59.67 billion by 2027, sustaining a CAGR of 10.5%.
A pivotal driver propelling this growth is the exorbitant healthcare costs prevalent in developed nations. This phenomenon has paved the way for an escalating trend in medical tourism, as individuals seek affordable treatment options in developing countries that boast both quality healthcare infrastructure and cost-effective medical services. A meticulous study by the Centres for Disease Control and Prevention underscores this trend, revealing that a substantial 0.75 to 1.6 million individuals from the United States opt to journey abroad for medical interventions, strategically evading the financial burdens associated with domestic healthcare expenditures. This paradigm shift underscores the dynamic interplay between economic factors and healthcare decisions, fostering a global ecosystem wherein healthcare seekers leverage cross-border opportunities to access optimal treatment at a fraction of the cost.
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The medical tourism market is segmented:
1) By Treatment Type: Cosmetic Treatment, Dental Treatment, Cardiovascular Treatment, Orthopedics Treatment, Bariatric Treatment, Fertility Treatment, Opthalmic Treatment, Other Treatments
2) By Type: Domestic, International
3) By Healthcare Service: Medical Treatment, Wellness, Alternative Treatment
4) By Service Providers: Public, Private
Top 5 Major Players:
- Apollo Hospital Enterprise Limited
- Prince Court Medical Centre
- Bumrungrad International Hospital
- KPJ Healthcare Berhad
- Fortis Health Ltd
Patients traveling across countries for medical treatment are increasingly using electronic health records to store information related to health in digital format. An electronic health record is the systematic collection of patient health and medical examination reports stored electronically. These health records can be accessed instantly and securely by authorized users. Electronic health records eliminate the need to carry heavy medical records for patients travelling long distances for treatment. Some of the major electronic health records software include eClinicalWorks, Allscripts, Cerner.
The medical tourism market report table of contents includes:
1. Executive Summary
2. Report Structure
3. Medical tourism Market Characteristics
4. Medical tourism Market Product Analysis
5. Medical tourism Market Supply Chain
…..
21. Key Mergers And Acquisitions In The Medical tourism Market
22. Market Background: Design, Research, Promotional And Consulting Services Market
23. Recommendations
24. Appendix
25. Copyright And Disclaimer
List Of Tables:
Table 1: Global Medical Tourism Market, Historic, 2016 – 2021, $ Million
Table 2: Global Medical Tourism Market, Forecast, 2021 – 2026, 2031F, $ Million
Table 3: Global Medical Tourism Market, Segmentation By Treatment Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
Table 4: Global Medical Tourism Market, Segmentation By Treatment Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
Table 5: Global Medical Tourism Market, Segmentation By Service Providers, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
….
Table 228: Global Medical Tourism Market Size Gain ($ Million), Segmentation By Treatment Type, 2021 – 2026
Table 229: Global Medical Tourism Market Size Gain ($ Million), Segmentation By Service Providers, 2021 – 2026
Table 230: Global Medical Tourism Market Size Gain ($ Million), Segmentation By Healthcare Service, 2021 – 2026
Table 231: Global Medical Tourism Market Size Gain ($ Million), Segmentation By Type, 2021 – 2026
Table 232: Medical Tourism – Market Data Sources
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