Global Medical Tourism Market growing at a CAGR of 8.1% during 2019-2026

Publication Date : 02 March 2020 | Category : Healthcare

Economical and best quality healthcare services present in various nations globally are expected to undoubtedly manage the rise of the medical tourism market. Additionally, an enhancement in the dispersion of multiple diseases like cancer, neurological diseases, cardiovascular diseases, hepatitis B & C, HIV, and others, which need an advanced standard of specialization and advanced medical instruments to procure accuracy is the prime reason that drives the medical tourism market progress."

The procedure of roaming or traveling in foreign countries to take medical facilities and an intense level of care is called medical tourism. The increase in healthcare services expenses involved in prominent countries has enforced medical tourists to search for a cost-effective substitute amplify the growth and development of the medical tourism market globally.

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According to Pheonix Research, Global Medical Tourism Market was evaluated $78 Billion in 2018 and is anticipated to raise $139 Billion by 2026, burgeoning at a CAGR of 8.1% during 2019-26. The prime aspects sustaining the growth of the market are the rising attention among the society with reference to global medication, prominent healthcare facilities, and less procedural charges in the progressive countries, a boost in the needfulness for quality patient observation, expertise in Band-Aid.

By Treatment Type, The cardiovascular Specialty Treatment and Cancer Cure vertical are anticipated to dominate the Medical Tourism market throughout the forecast period. In 2018, altogether half the market share was captured by Asia-Pacific. However, the superlative growth rate is expected to be witnessed by the Dental care services in the specialty section throughout the projection period due to the growing need for healthy and well-maintained teeth.

With respect to the region the 5 major regions that are vital for the growth of the medical tourism market. These are Asia Pacific, North America, Europe, and the Middle East and Africa. The evolution of advanced medical infrastructure and potential services are serving to push the progress of the regional vertical in the Medical Tourism Market.

Some notable players operating in Medical Tourism Market include KPJ Healthcare Behard, Apollo Hospitals, BB Health Solutions, Medretreat, Raffles Media Group, Health base, Cosmedic Travel, Euro medical Tours, Prince Court Medical Center and others.

Key Findings of the Report:
•  APAC is anticipated to rise at the biggest rate amidst the analysis period, subsequent to LAMEA.
•  North America captured approx one-third share of the overall medical tourism market in 2018.
•  The cancer treatment vertical is expected to grow with the absolute CAGR ubiquitously during the forecast period.
•  The cosmetic surgery section holds near the two-fifth share of the market in 2018.

The Global Medical Tourism Market has been categorized on the basis of specialty type, the market included Cancer Treatment, Cardiovascular Treatment, Dental Care, Neurological Treatment, Fertility Treatment, Orthopedic Treatment, Cosmetic Surgery, Other.

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