Medical Tourism Market Segmented By Product, Type, Application, And Region - Global Growth, Trends, And Forecast To 2023

Market Overview:

Medical tourism market is estimated at USD 27.8 Billion in 2018, and is expected to reach USD 65.79 Billion by 2023 with a CAGR of 18.8%. Medical tourism is outlined as travel across international borders with the aim of availing medical treatment of some type, which can or might not be available within the travelers’ home country. This treatment could embrace a wide array of medical services; but, the foremost often availed services include cancer treatment, orthopedic treatment, upset treatment, elective surgery, fertility treatment, and others.

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Factors affecting market growth:

  • Affordable and accessibility of good quality healthcare services (-)
  • Availability of latest technology (+)
  • Development In market(+)
  • Stringent Documentation Forms (-)
  • Issues related to visa endorsement (-)
  • Limited protection scope (-)

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Market Segmentation

Global Medical tourism market is geographically segmented into

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Asia-Pacific possesses high market potential for the growth of medical tourism market, owing to increase in accessibility and availability of healthcare facilities and rise in healthcare and research expenditure. This region is anticipated to experience rapid market growth due to economic development.

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Key players:

Market players Min-Sheng General Hospital, Apollo Hospitals Enterprise Limited, Samitivej Sukhumvit, Fortis Healthcare Ltd., Asian Heart Institute, Prince Court Medical Center, Bangkok Hospital Medical Center, KPJ Healthcare Berhad, Raffles Medical Group, and Bumrungrad International Hospital.

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