Medical Tourism Market Growth Prospects, Key Vendors, Future Scenario Forecast to 2026

Medical tourism is considered to be an industry with a dynamic growth in the coming years. Medical tourism is considered as the act of travelling outside the local areas for medical treatment. This industry is still considered to be the growing industry as there is an increase in the medical professionals that treat non-domestic patients across the globe.

The Medical tourism market is expected to reach USD 33.11 Billion by 2026 from USD 24.91 Billion in 2017, at a CAGR of 20.1%.

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The medical tourism market is expected to gain traction over the forecast period owning to the factors as rising number of geriatric populations across the globe, increasing number of degenerative diseases in all age groups, and lack of awareness for quality healthcare services in various countries. Additionally, rising healthcare cost in the developed countries, and long waiting time in these countries to also influence the market growth in the coming years. Moreover, various government initiatives that promotes the growth of medical tourism and also entry of big healthcare providers in this business to also boost the market growth in the coming years. However, issue related to follow up for the post-surgical procedure treatment would impede the growth of medical tourism market in coming years.

Major Manufacture: -

Bumrungrad International hospital

Apollo Hospitals Enterprise Limited

KPJ Healthcare Berhad

Prince Court Medical Center

Raffles Medical Group

Fortis Healthcare

Samitivej Hospital.

The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Medical Tourism Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

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Asia-Pacific generated the highest revenue in 2017 in the medical tourism market owing to the growing medical industry, and growing awareness for providing quality healthcare services to international patients. Additionally, adoption of various affordable pricing models by the healthcare providers, and no waiting time for the treatment would also boost the market growth in the Asia Pacific region during the forecast period. Supportive government regulations regarding patient safety, and technological advancements further support market growth in the region.

Competitive Landscape

The global medical tourism market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.

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Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.