Global Medical Tourism Market Set to Reach USD 33.6 Bn by 2031, With a Sustainable CAGR Of 29.8%| Growth Market Reports

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18 Jan, 2023, 12:45 GMT

PUNE, India, Jan. 18, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Medical Tourism Market by Treatment Type (Orthopedics Treatments, Ophthalmic Treatments, Dental Treatments, Cosmetic Treatments [Breast Augmentation and Hair Transplants], Cardiovascular Treatments, Fertility Treatments, Bariatric Treatments, Cancer Treatments, and Others), and Region: Size, Share, Trends, and Opportunity Analysis, 2023-2031", the market size was USD 3.4 Bn in 2022 and is expected to reach USD 33.6 Bn expanding at a CAGR of 29.8% by the end of 2031. The market growth is attributed to the availability and affordability of high-quality healthcare treatments in emerging economies.

Key Market Players Profiled in the Report

  • Cosmedic Travel AU
  • BB Health Solutions
  • Euromedical Tours
  • Klinikum Medical Link, Ltd.
  • KPJ Healthcare Berhad
  • Apollo Hospitals Enterprise Limited.
  • Healthbase
  • MedRetreat.
  • Mount Elizabeth Hospital
  • Fortis Healthcare Limited
  • Asklepios Kliniken GmbH
  • Rashid Hospital
  • Asian Heart Institute
  • Others

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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include treatment types and competitor analysis.

This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.

Highlights on the Segments of the Medical Tourism Market

In terms of treatment type, the global medical tourism market is divided into orthopedics treatments, ophthalmic treatments, dental treatments, cosmetic treatments [breast augmentation and hair transplants], cardiovascular treatments, fertility treatments, bariatric treatments, cancer treatments, and others. The cosmetic treatments segment is further segmented into breast augmentation and hair transplants. The cosmetic segment is expected to hold a major key share of the global market owing to the increasing number of various cosmetic surgery such as hair regrowth, breast enlargement, facial operations, rhinoplasty, and others.

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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in Asia Pacific is projected to expand at a significant rate during the forecast period due to the growing demand for medical tourism in emerging countries such as India and China. China controls the majority of the global market owing the cheaper price of therapy and superior healthcare facilities available in the region.

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Key Takeaways from the Study:

  • The rapid growth in technological advancements in the healthcare industry regarding medical devices, wearables, connected healthcare, and surgical procedures can drive the global market.
  • Increasing demand for medical procedures such as orthopedic and spine, dental, and cardiology are likely to boost the global market in the coming years.
  • Availability of advanced facilities and services at a lower cost is attracting tourists from high-income countries to come to developing countries such as India, China, Thailand, and others which is likely to create new opportunities for the global market.
  • The rapid growth in private service providers globally delivering world-class medical services with the availability of advanced medical infrastructure, value-based care at low cost, and digital systems can drive market expansion.
  • According to the Medical Health and Tourism Congress (MHTC), medical treatment is cheaper in the Asia Pacific region compared to other regions which can create lucrative opportunities for the global market in the coming years.

Read 205 Pages Research Report with Detailed ToC on "Medical Tourism Market by Treatment Types (Orthopedics Treatments, Ophthalmic Treatments, Dental Treatments, Cosmetic Treatments [Breast Augmentation and Hair Transplants], Cardiovascular Treatments, Fertility Treatments, Bariatric Treatments, Cancer Treatments, and Others), and Regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031"

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Key Segments Covered

Treatment Type

  • Orthopedics Treatments
  • Ophthalmic Treatments
  • Dental Treatments
  • Cosmetic Treatments
    • Breast Augmentation
    • Hair Transplants
  • Cardiovascular Treatments
  • Fertility Treatments
  • Bariatric Treatments
  • Cancer Treatments
  • Others

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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