Medical Tourism Market to Reach USD 949.0 Million by 2027

[Aarti Ghodke]

Medical tourism is described as a planned trip across international borders to receive medical care of some kind that is not available in the tourists' native country. Medical tourists cross international boundaries to maintain, improve, or restore their health by using low-cost healthcare facilities and treatments accessible in other nations that are less expensive in their own country. Medical tourists go to obtain treatments such as dental care, neurological care, and cardiovascular care.

Medical Tourism Market is anticipated to reach US$ 65.66 Bn. by 2029 from US$ 14.48 Bn. in 2021 at a CAGR of 20.80% during a forecast period.


Medical Tourism Market Overview:

This Medical Tourism market study looks at current and emerging industry trends and dynamics in the global Medical Tourism market. Medical Tourism Extensive market forecasting for the major market segments is carried out between 2021 and 2027. Extensive Medical Tourism market analysis is carried out by closely monitoring key product positions and the main competitors in the market framework. To understand the competitive landscape of the worldwide Medical Tourism market, key players are profiled and their strategies are thoroughly evaluated.

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Medical Tourism  Market Scope:

The analysis contains a current examination of the present Medical Tourism market landscape, as well as the most recent trends and drivers, as well as an overview of the entire Medical Tourism market environment. Increased demand for Medical Tourism is driving the market. The Medical Tourism market research examines the technology, end-user, and type categories, among other things, as well as the geographical landscape.

Segmentation:

China dominated the East Asian market in 2020, with a 38.71% share, and is expected to grow at a CAGR of 10.6 percent during the forecast period. Some of the world's best hospitals are attracting international visitors with their integration of traditional Chinese medicine and advanced Western treatment. Several commercial and public clinics with cutting-edge technology treat a large number of overseas patients. The availability of ground-breaking stem cell therapies that are still in the experimental stage or are awaiting clearance in industrialized Western countries is opening up enormous opportunities for medical tourism in China.

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Key Players:

The market research report provides comprehensive quantitative insights that provide a clear picture of the worldwide market potential in a variety of categories, as well as country-by-country analyses in each covered topic. The analysis investigates the market's major influencing factors, as well as complete company profiles of

• Fortis Hospital
  • Gleneagles Hospital
  • Asklepios Klink Barmbek
  • Wooridul Spine Hospital
  • Prince Court Medical centre
  • Anadolu Medical Centre
  • Clemenceau Medical centre
  • Raffles Medical Group
  • Bumrungrad International Hospital
  • Bangkok Hospital Medical Center
  • Asian Heart Institute
  • KPJ Healthcare Berhad
  • Samitivej Sukhumvit
  • Apollo Hospitals Enterprise Limited
  • Min-Sheng General Hospital.
  • Fortis Hospitals
  • KTQ International
  • SafeCare
  • Asian Heart Institute

Regional Analysis:

Individual market influencing variables and changes in market laws that impact present and future market trends are also included in the regional segment of the Medical Tourism market study. Data points such as downstream and upstream value chain analysis, technology trends, porter's five forces analysis, and case studies are just a few of the indicators utilized to anticipate market scenarios for various industries. When examining projection data for the region, the existence and availability of global players, as well as the obstacles they face as a result of substantial or low to none competition from local and domestic brands, are all taken into account.

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COVID-19 Impact Analysis on Medical Tourism Market:

The COVID-19 epidemic has had a significant impact on the global Medical Tourism industry. Medical Tourism Production facilities were halted due to the global economic slump and a lack of manpower. The COVID-19 pandemic has led to a significant and extended drop in production utilization, and travel prohibitions and facility closures have kept personnel away from their facilities, causing the Medical Tourism market to decelerate in 2020. The negative impact of COVID-19 on the Medical Tourism market, on the other hand, is expected to be transitory, and the sector is expected to revive significantly by early 2021, owing to increased demand for Medical Tourism .

Key Questions Answered in the Medical Tourism Market Report are:

• Which segment was responsible for the largest share in the Medical Tourism market?
• How was the competitive scenario of the Medical Tourism market in 2020?
• Which are the key factors responsible for the Medical Tourism market growth?
• Which region held the maximum share in the Medical Tourism market in 2020?

 

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