Medical Tourism Market – Insights

The lack of medical insurance is the primary reason driving the growth of the global medical tourism market. Expansion of internet and online advertising in rural areas has made it possible for patients to identify specialized treatments at low prices. The Nerd Wallet Health analyzed data from the Centers for Disease Control and Prevention (CDC), U.S. Census and Federal Court System in 2013 and found that around 56 million Americans under the age of 65 have trouble paying their medical bills.

Moreover, as per the Health-Tourism fact sheet and statistics, medical tourism generated massive revenue between US$ 60,000 to US$ 70,000 in 2015, and it is expected to double in the near future. These factors indicate the fast growth and expansion of the global medical tourism market over the forecast period.

The global medical tourism market size was estimated to be valued at US$ 32,733.7 million in 2019, and is expected to witness a CAGR of 12.4% over the forecast period (2019 – 2027).

Global Medical Tourism Market Share (%) Analysis, By Treatment Type, 2019

Medical Tourism  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2020)

Increasing government initiative for medical tourism is expected to favor the growth of global medical tourism market.

Most of the countries are taken initiative for medical tourism to provide treatment for visitors. For instance, according to the Dubai Chamber of Commerce’s 2019 report, the Abu Dhabi Department of Health and Abu Dhabi Department of Culture and Tourism (DCT) jointly launched the Abu Dhabi Medical Tourism e-portal, a digital platform that provides visitors to Abu Dhabi with all medical offerings and healthcare facilities throughout the duration of their visit.

Furthermore, orthopedics, sports medicine, dermatology and skin care, dentistry, and fertility treatment are currently among the top specialties for health tourism in Dubai.

Global Medical Tourism Market - Regional Insights

On the basis of region, the global medical tourism market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the global medical tourism market owing to increasing prevalence of cancer. There is high incidence of cancer in the U.S. and across the world. For instance, according to the National Cancer Institute, in 2016, an estimated 15.5 million people survived cancer in the U.S., and the number of cancer survivors is expected to increase to 20.3 million by 2026. Moreover, in 2017, an estimated 15,270 children and adolescents in the age group of 0 to 19 were diagnosed with cancer in the U.S.

Asia Pacific is the fastest growing region in the global medical tourism market owing to increasing government initiative for medical tourism. For instance, according to the government of India’s Ministry of Home Affairs, in 2017, India retooled its e-Visa program, introducing a special visa subcategory for medical travelers which can be given for specific purpose to foreign tourists coming to India for medical treatment.

Global Medical Tourism Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2027

Medical Tourism  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2020)

Global Medical Tourism Market - Competitive Landscape

  • Key players operating in the global medical tourism market include Asian Heart Association, Apollo Hospitals Enterprise Ltd., Prince Court Medical Centre, Gleneagles Hospitals, Min-Sheng General Hospital, Raffles Medical Group, Bangkok Hospital, Fortis Healthcare Ltd., Anadolu Medical Centre and Wooridul Spine Hospital.

Medical tourism refers to people traveling abroad to obtain medical treatment. Factors such as high cost of healthcare and long waiting time for certain procedures have increased the popularity of medical tourism.

Domestic medical tourism involves people travelling between different cities of the same country for surgical processes or similar treatments related to cosmetology or others. Although, people are also prefer dental and fertility tourism these days. Apart from common treatments, medical tourism services are available in all the fields of healthcare such as psychiatry, convalescent care, burial services, and alternative medicines.

Market Dynamics

The increasing prevalence of neurological disorders is expected to drive growth of the global medical tourism market over the forecast period. For instance, according to the Institute for Health Metrics and Evaluation (IHME) 2019, neurological disorders were the leading cause of DALYs (276 million) and second leading cause of deaths (9.0 million) globally in 2016.

However, stringent documentation process such as issues related to visa approval and limited insurance coverage are factors restraining the medical tourism market growth.

Key features of the study:

  • This report provides in-depth analysis of the global medical tourism market, market size (US$ Mn), and compound annual growth rate (CAGR (%) for the forecast period, 2019-2027, considering 2018 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by leading players
  • It profiles key players in the global medical tourism market based on the following parameters: company overview, financial performance, product portfolio, geographical presence, key developments, and strategies
  • Key players covered as a part of this study include Asian Heart Association, Apollo Hospitals Enterprise Ltd., Prince Court Medical Centre, Gleneagles Hospitals, Min-Sheng General Hospital, Raffles Medical Group, Bangkok Hospital, Fortis Healthcare Ltd., Anadolu Medical Centre and Wooridul Spine Hospital.
  • Insights from this report would allow marketers and management authorities of companies to make informed decisions with respect to future product launches, governmental initiatives, technological up-gradation, market expansion, and marketing tactics
  • The global medical tourism market report caters to various stakeholders in this industry, which include investors, product manufacturers, distributors, and suppliers for global medical tourism market, research and consulting firms, new entrants, and financial analysts

Detailed Segmentation:

  • Global Medical Tourism Market, by Treatment Type:
    • Cardiovascular
    • Orthopedic
    • Neurological
    • Cancer
    • Fertility
    • Others
  • Global Medical Tourism Market, by Region:
    • North America
      • By Country:
        • U.S.
        • Canada
      • By Treatment Type:
        • Cardiovascular
        • Orthopedic
        • Neurological
        • Cancer
        • Fertility
        • Others
    • Europe
      • By Country:
        • U.K.
        • Germany
        • Italy
        • Spain
        • France
        • Russia
        • Rest of Europe
      • By Treatment Type:
        • Cardiovascular
        • Orthopedic
        • Neurological
        • Cancer
        • Fertility
        • Others
    • Asia Pacific
      • By Country:
        • Australia
        • India
        • China
        • Japan
        • ASEAN
        • South Korea
        • Rest of Asia Pacific
      • By Treatment Type:
        • Cardiovascular
        • Orthopedic
        • Neurological
        • Cancer
        • Fertility
        • Others
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
      • By Treatment Type:
        • Cardiovascular
        • Orthopedic
        • Neurological
        • Cancer
        • Fertility
        • Others
    • Middle East
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
      • By Treatment Type:
        • Cardiovascular
        • Orthopedic
        • Neurological
        • Cancer
        • Fertility
        • Others
    • Africa
      • By Country/Region:
        • South Africa
        • Central Africa
        • North Africa
      • By Treatment Type:
        • Cardiovascular
        • Orthopedic
        • Neurological
        • Cancer
        • Fertility
        • Others
  • Company Profiles
    • Asian Heart Association
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Highlights
      • Strategies
    • Apollo Hospitals Enterprise Ltd.
    • Prince Court Medical Centre
    • Gleneagles Hospitals
    • Min-Sheng General Hospital
    • Raffles Medical Group
    • Bangkok Hospital
    • Fortis Healthcare Ltd.
    • Anadolu Medical Centre
    • Wooridul Spine Hospital

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Overview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Treatment Type 
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Market Trends
    • Key Developments
    • PEST Analysis
  4. Global Medical Tourism Market, By Treatment Type, 2019 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Cardiovascular
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027 , (US$ Million)
    • Orthopedic
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027 , (US$ Million)
    • Neurological
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027 , (US$ Million)
    • Cancer
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027 , (US$ Million)
    • Fertility
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027 , (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027 , (US$ Million)
  5. Global Medical Tourism Market, By Region, 2019 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2017 – 2026
      • Regional Trends
    • North America
      • Market Size and Forecast, By Treatment Type, 2016 – 2027 , (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2027 , (US$ Million)
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast, By Treatment Type, 2016 – 2027 , (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2027 , (US$ Million)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Treatment Type , 2016 – 2027 , (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2027 , (US$ Million)
        • China
        • Japan
        • India
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast, By Treatment Type , 2016 – 2027 , (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2027 , (US$ Million)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East
      • Market Size and Forecast, By Treatment Type , 2016 – 2027 , (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2027 , (US$ Million)
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Treatment Type , 2016 – 2027 , (US$ Million)
      • Market Size and Forecast, By Country/Region, 2016 – 2027 , (US$ Million)
        • North Africa
        • Central Africa
        • South Africa
  6. Competitive Landscape
    • Company Profiles
      • Asian Heart Association
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Apollo Hospitals Enterprise Ltd.
        •  Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Prince Court Medical Centre
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Gleneagles Hospitals
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Min-Sheng General Hospital
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Raffles Medical Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Bangkok Hospital
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Fortis Healthcare Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Anadolu Medical Centre
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Wooridul Spine Hospital.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
    • Analyst Views
  7. Section
    • References
    • Research Methodology         
    • About Us and Sales Contact

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