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Medical Tourism Market Current Scenario, Shares, Latest Innovations, Analysis and Forecasts to 2030

Oct 19, 2023 4:02 AM ET

Medical Tourism Market Current Scenario, Shares, Latest Innovations, Analysis and Forecasts to 2030

Medical Tourism Market by Treatment Type (Orthopedic/Spine Treatments, Oncology/Cancer Treatments, Cosmetic Treatments, Cardiovascular Treatments, Dental Treatments, Fertility/IVF Treatments, others), by Regions – Forecast Till 2032

Market Overview

Market Research Future (MRFR) ‘s report highlights Medical Tourism Market Information By Treatment Type And Region – Forecast till 2032″; the market will achieve USD 121.8 billion in 2032 at a 21.2% CAGR.

In the upcoming years, the medical tourism sector is anticipated to experience significant expansion. More people are seeking medical care abroad due to improvements in healthcare technology, increased affordability, and rising demand for specialty treatments, fueling the growth of this industry. The key driver of market advancement is the high cost of healthcare in the home nations. An increase in demand for non-covered operations like cosmetic surgery, reproductive therapy, dental reconstruction, and gender reassignment surgery is also fueling the sector. Additionally, renowned surgeons from emerging nations treat millions annually for various procedures. Additionally, postponing required treatments may worsen pre-existing diseases, and the dangers of putting off different surgeries include complications.

Delaying hip replacement surgery, for example, may result in hip joint degradation, decreased mobility, increased discomfort, and the chance that the patient would no longer be eligible for minimally invasive procedures like hip resurfacing. Global medical tourism has increased due to significant developments in the healthcare sector, including the introducing of new medical technologies and minimally invasive surgery techniques. Medical tourism has become more popular in high-income nations like the United States in recent years. Additionally, the potential for the medical tourism industry is expanding due to the accessibility of less expensive treatment for various diseases, including knee replacement, dental work, and cosmetic procedures, among others, in nations like Singapore, Thailand, and Dubai.

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There has been an uptick in demand for operations that were postponed or delayed during the pandemic as COVID-19 cases have begun to drop in several countries and travel bans have been loosened. Consumer interest in cosmetic procedures including body fat reduction and acne treatment has increased due to people’s increased attention to personal hygiene and appearance. Therefore, a growing rate of incoming health tourism to nations like India and Thailand for speedy and affordable medical care is a factor in the rise in surgical procedures. The main driver of market expansion is the declining cost of complex surgeries.

Market Competitive Landscape:

  • Bumrungrad International Hospital (Thailand)
  • Gleneagles Global Hospitals Group (India)
  • Prince Court Medical Centre (Malaysia)
  • Anadolu Medical Center (Turkey)
  • Shouldice Hospital (Canada)
  • Bangkok Hospital (Thailand)
  • Fortis Healthcare (India)
  • Clemenceau Medical Center (Lebanon)
  • Samitivej PCL (Thailand)
  • Schön-Kliniken (Germany)
  • Asklepios Kliniken Verwaltungsgesellschaft mbH (Germany)

Market Segmentation

The oncology/cancer, cosmetic surgery and treatments, orthopedic/spine treatments, cardiac therapies, dental treatments, fertility/IVF treatments, and other treatments are included in the market segmentation for medical tourism based on treatment type.

Browse In-depth Market Research Report (90 Pages) on Medical Tourism:

Regional Insights

The APAC region is progressing due to government enterprises, the affordable cost of healthcare in this region, and the increasing demand for medical tourism in this region’s emerging countries. India provides Western and Middle Eastern nations with healthcare at a significant price. The medical tourism market in Europe is expected to expand at the quickest CAGR. The rising healthcare expenses, fast expansion of the medical tourism business, and prevalence of osteoarthritis and spinal degeneration contribute to this.

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