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Medical Tourism Market 2020 growth factors, latest trend and regional analysis of leading players by 2025

Author : Ronak Bora | Published Date : 2020-09-11 

Medical Tourism Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Growing awareness regarding affordable and advanced medical services is expected to augment global medical tourism market over 2025. Numerous public and private healthcare centers worldwide are undertaking promotional activities for driving their region’s medical tourism sector. The Government of India, for instance, continues to promote its healthcare sector in order to attract more medical tourists and foreign patients. These marketing efforts are expected to boost the medical tourism market as well as favor the country’s economic growth over the coming years.

Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/3022

Another factor projected to drive market growth is supportive government policies that favor travel plans of medical tourists. Faster visa approval, reduced wait time and easier admission process are some of the benefits that these policies offer to medical tourists. These policies also ensure affordable, high-quality medical treatment for foreign patients.

A recent statement by the India Tourism Development Corporation (ITDC) claims that India will continue to be the safest, inexpensive and most preferred medical tourism destination following the COVID-19 pandemic. While a research report by Global Market Insights, Inc., suggests that the global medical tourism market size is expected to exceed USD 30 billion by 2025.

Modern hospitals, advanced treatments, and proficient doctors in Asian countries are becoming lucrative choices for cost-effective medical treatment, which boosts the economy of a country and  inadvertently fuels the development of healthcare services.

In terms of technological intervention, many big hospital chains and medical equipment providers in developing nations are contributing towards newest innovations in terms of addressing cardiovascular diseases, like the introduction of AI-powered cardiovascular disease risk score API by Apollo Hospitals, in association with Microsoft, to predict the risk of cardiovascular disease among people.

Adopting innovative developments into healthcare services will influence more medical tourists to visit other countries for affordable treatments, without compromising on quality, which will proliferate medical tourism market size over the coming years.

Medical tourism has become a key growth sector for India as healthcare segment in the country excels in using the most advanced technologies on par with nations like the U.S. and has numerous accredited healthcare providers. With the rising trend of tourists for medical treatments, many companies are bringing out more simplified and easier options for them by offering complete packages inclusive of high-quality treatment, traveling cost and ease of communication.

Expatriates living in North America and Europe, still having family connections in India, increasingly prefer to travel to the country for heart and other crucial surgeries. Reports suggest that India medical tourism market will bring significant opportunities with a profitable 11.3% growth rate through 2025.

In March 2019, India and the Africa union had signed an MoU to strengthen the cooperation in healthcare sector. The MoU will bring cooperation in the areas of capacity building, research and development, health services, pharmaceutical trade and manufacturing capabilities for drugs and diagnostics. Such initiatives will bolster global health research and address regional needs, creating remarkable prospects for medical tourism industry.

According to American Society of Plastic Surgeons, in 2018 around 18 million people underwent surgical and minimally invasive cosmetic procedures in the U.S. With a surge in the number of cosmetic procedures and plastic surgeries, cosmetic surgery practitioners in countries like Brazil and Thailand are offering all kinds of procedures at comparatively cheaper rates.

Number of cosmetic transformations and plastic surgeries such as eyelid surgery, tummy tucks, breast augmentation, among others are continuing to increase in developed nations, but high costs are driving people towards lower economy markets. With the spread of social media platforms and increased image consciousness among women, aesthetic enhancements have become a common trend.

It has been observed at cosmetic procedures among men has also increased at a faster pace over the last few years, which will provide significant consumer base for medical tourism market players.

Consistent R&D efforts, innovations, and cost-effective treatments will help fuel the demand for surgeries in developing countries. Key players in medical tourism industry include Max Healthcare, Manipal Hospitals, Narayana Health, Mount Elizabeth Hospitals, KPJ Healthcare Berhad, Raffles Medical Group, among several others.

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/medical-tourism-market

Partial Chapter of the Table of Content 

Chapter 4. Medical Tourism Market, By Application

4.1. Key segment trends

4.2. Cardiovascular surgery

4.2.1.  Market size, by region, 2014 – 2025 (USD Million)

4.3. Cosmetic surgery

4.3.1.  Market size, by region, 2014 – 2025 (USD Million)

4.3.2.  Hair transplant

4.3.2.1.  Market size, by region, 2014-2025 (USD Million)

4.3.3.  Breast augmentation

4.3.3.1.  Market size, by region, 2014-2025 (USD Million)

4.4. Dental surgery

4.4.1.  Market size, by region, 2014 – 2025 (USD Million) 

4.5. Orthopedic surgery

4.5.1.  Market size, by region, 2014 – 2025 (USD Million)

4.6. Bariatric surgery

4.6.1.  Market size, by region, 2014-2025 (USD Million)

4.7. Fertility treatment

4.7.1.  Market size, by region, 2014-2025 (USD Million)

4.8. Oncology treatment

4.8.1.  Market size, by region, 2014-2025 (USD Million)

4.9. Others

4.9.1.  Market size, by region, 2014-2025 (USD Million)

Chapter 5. Medical Tourism Market, By Region

5.1. Key regional trends

5.2. North America

5.2.1. Market size, by country, 2014 – 2025 (USD Million)

5.2.2. Market size, by application, 2014 – 2025 (USD Million)

5.2.2.1.  Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.2.3. U.S.

5.2.3.1.  Market size, by application, 2014 – 2025 (USD Million)

5.2.3.1.1. Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.2.4. Canada

5.2.4.1.  Market size, by application, 2014 – 2025 (USD Million)

5.2.4.1.1. Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.3. Europe

5.3.1. Market size, by country, 2014 – 2025 (USD Million)

5.3.2.  Market size, by application, 2014 – 2025 (USD Million)

5.3.2.1.  Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.3.3. Germany

5.3.3.1.  Market size, by application, 2014 – 2025 (USD Million)

5.3.3.1.1. Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.3.4. France

5.3.4.1.  Market size, by application, 2014 – 2025 (USD Million)

5.3.4.1.1. Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.3.5. Spain

5.3.5.1.  Market size, by application, 2014 – 2025 (USD Million)

5.3.5.1.1. Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.3.6. Italy

5.3.6.1.  Market size, by application, 2014 – 2025 (USD Million)

5.3.6.1.1. Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.3.7. Turkey

5.3.7.1.  Market size, by application, 2014 – 2025 (USD Million)

5.3.7.1.1. Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.3.8. Poland

5.3.8.1.  Market size, by application, 2014 – 2025 (USD Million)

5.3.8.1.1. Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.4. Asia Pacific

5.4.1. Market size, by country, 2014 – 2025 (USD Million)

5.4.2.  Market size, by application, 2014 – 2025 (USD Million)

5.4.2.1.  Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.4.3. India

5.4.3.1.  Market size, by application, 2014 – 2025 (USD Million)

5.4.3.1.1. Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.4.4. Thailand

5.4.4.1.  Market size, by application, 2014 – 2025 (USD Million)

5.4.4.1.1. Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.4.5. Singapore

5.4.5.1.  Market size, by application, 2014 – 2025 (USD Million)

5.4.5.1.1. Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.4.6. Malaysia

5.4.6.1.  Market size, by application, 2014 – 2025 (USD Million)

5.4.6.1.1. Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.5. Latin America

5.5.1. Market size, by country, 2014 – 2025 (USD Million)

5.5.2.  Market size, by application, 2014 – 2025 (USD Million)

5.5.2.1.  Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.5.3. Mexico

5.5.3.1.  Market size, by application, 2014 – 2025 (USD Million)

5.5.3.1.1. Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.5.4. Colombia

5.5.4.1.  Market size, by application, 2014 – 2025 (USD Million)

5.5.4.1.1. Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.5.5. Costa Rica

5.5.5.1.  Market size, by application, 2014 – 2025 (USD Million)

5.5.5.1.1. Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.6. Middle East & Africa

5.6.1. Market size, by country, 2014 – 2025 (USD Million)

5.6.2.  Market size, by application, 2014 – 2025 (USD Million)

5.6.2.1.  Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.6.3. UAE

5.6.3.1.  Market size, by application, 2014 – 2025 (USD Million)

5.6.3.1.1. Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

5.6.4. South Africa

5.6.4.1.  Market size, by application, 2014 – 2025 (USD Million)

5.6.4.1.1. Market size, by cosmetic surgery, 2014 – 2025 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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