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 2027
The demand for medical tourism has risen as certain regions have become pioneers in certain sorts of medical treatments. Reports created by MRFR detail the developments in the industry that can be expected in the market through the forecast period. The market is predicted to demonstrate a 21.4% CAGR during the forecast period.
The improved government support for medical tourism development is spurred by the benefits gained by the visitors who choose certain countries due to their particular medical expertise, and this is predicted to have a favorable impact on market development. Improvement in health infrastructure and services that facilitate patients are further estimated to create viable opportunities in the forecast period.
Segmental Analysis
The segmental overview of the medical tourism market is carried out on the basis of treatment type and region. The treatment type segment of the medical tourism market comprises of dental treatments, cardiovascular/cardiology treatments, oncology/cancer treatments, orthopedic/spine treatments, cosmetic treatments, neurology/neurosurgery treatments, and fertility/IVF treatments. The regions segment in the medical tourism market consists of Asia Pacific, North America, Europe, and other vital regions.
Detailed Regional Analysis
The regional investigation of the medical tourism market consists of Asia Pacific, North America, Europe, and other vital regions. The Asia Pacific medical tourism market and the developing regions within North America are undergoing important progress. The Asia Pacific medical tourism market at present controls the mainstream share of the medical tourism market. The share of the Asia Pacific regional market is expected to grow at an elevated rate throughout the forecast period. The technological progress, rising economy, and application of advanced machinery in health facilities are creating a favorable scenario for the medical tourism market growth in the region. The European medical tourism market is also estimated to trigger a noteworthy rise in the forecast period.
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Competitive Analysis
The government policies in several regions are very conducive to the development of the market in the upcoming period. The advancement of production technology and processes is estimated to augment the global market. The funding scenario in the market is estimated to be optimistic and conducive to the development of the stakeholders in the market. The advancement of the market is spurred by the initiatives of the leaders in the global market, who are dedicating resources to the development of the overall market. The scale of innovation being observed in the market is another reason that is adding to the advancement of the global market in the future. The detrimental impact on the environment by the business practices is estimated to be a key component in the future growth strategies of the market. The establishment of clear long-term objectives by market titans is estimated to set the tone for the continuing expansion of the market. The identification of areas for sustainable enhancement in the supply chain is estimated to further fortify the market.
The illustrious contenders in the medical tourism market are Gleneagles Global Hospitals Group (India), MUGUERZA (Mexico), Samitivej PCL (Thailand), Prince Court Medical Centre (Malaysia), Schön-Kliniken (Germany), Anadolu Medical Center (Turkey), Bumrungrad International Hospital (Thailand), CHRISTUS Shouldice Hospital (Canada), Clemenceau Medical Center (Lebanon), Bangkok Hospital (Thailand), Fortis Healthcare (India), Asklepios Kliniken Verwaltungsgesellschaft mbH (Germany), and others.
Industry Updates:
Mar 2021 Indonesia is planning to build the Sanur area in Bali into a topnotch Health Special Economic Zone (SEZ), concentrating on medical tourism attending to elderly tourists. The Government, state businesses, local and foreign investors are estimated to pitch in to develop the 41-ha SEZ, of the total area, 21.2 ha will be assigned for building a health tourism center with a number of amenities, counting parks, international hospitals, trade areas, and art markets as well as hotels and hospitality institutes.
Feb 2021 India has begun distributing medical visas and is in preparation to restart e-tourist visas. The effort is in a bid to lift medical tourism in India that persisted but was hard hit due to the COVID-19 pandemic. The union health minister pronounced that the advancements in India’s healthcare amenities have led to a surge of medical tourism in India.
Feb 2021 Pakistan has presented the medical visa category in a newly revised policy, simplifying rules for people looking for entry into the nation for health emergencies and work. As per the new guidelines, security permission would not be essential for those looking for a short-term medical visa or an individual work visa. But, the Federal Investigation Agency (FIA), Inter-Services Intelligence (ISI), and Intelligence Bureau (IB) would be indicated.
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