Medical Tourism Market by Treatment Type and Geography - Forecast and Analysis 2021-2025

  • Published: Oct 2021
  • Pages: 120
  • SKU: IRTNTR71168
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The medical tourism market share is expected to increase by USD 16.88 billion from 2021 to 2025, and the market’s growth momentum will decelerate at a CAGR of 16.04%.

This medical tourism market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by treatment type (cardiovascular treatment, cosmetic treatment, fertility treatment, orthopedics treatment, and others) and geography (North America, APAC, Europe, MEA, and South America). The medical tourism market report also offers information on several market vendors, including Anadolu Medical Center, Asian Heart Institute, Asklepios Kliniken GmbH and Co. KGaA, Bangkok Dusit Medical Services Public Co. Ltd., Bumrungrad Hospital Public Co. Ltd., Clemenceau Medical Center, Cleveland Clinic, Fortis Healthcare Ltd., Prince Court Medical Centre Sdn Bhd, and The Johns Hopkins Health System Corp. among others.

What will the Medical Tourism Market Size be in 2021?

Download the Free Report Sample to Unlock the Medical Tourism Market Size for 2021 and Other Important Statistics

 

Medical Tourism Market: Key Drivers and Trends

The availability of low-cost treatment options is notably driving the medical tourism market growth, although factors such as lack of advanced infrastructure in developing nations may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the medical tourism industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

This medical tourism market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Medical Tourism Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Anadolu Medical Center
  • Asian Heart Institute
  • Asklepios Kliniken GmbH and Co. KGaA
  • Bangkok Dusit Medical Services Public Co. Ltd.
  • Bumrungrad Hospital Public Co. Ltd.
  • Clemenceau Medical Center
  • Cleveland Clinic
  • Fortis Healthcare Ltd.
  • Prince Court Medical Centre Sdn Bhd
  • The Johns Hopkins Health System Corp.

 

This statistical study of the medical tourism market encompasses successful business strategies deployed by the key vendors. The medical tourism market is fragmented and the vendors are deploying growth strategies such as directing their marketing efforts toward creating category and brand awareness to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The medical tourism market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Medical Tourism Market?

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32% of the market’s growth will originate from North America during the forecast period. The US is a key market for medical tourism in North America. However, the market growth rate in North America will be slower than the growth of the market in other regions.

The availability of high-quality healthcare facilities in Canada and the US will facilitate the medical tourism market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Treatment Type Segments in the Medical Tourism Market?

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The medical tourism market share growth by the cardiovascular treatment segment will be significant during the forecast period. The market for cardiovascular treatment will continue to grow owing to hectic lifestyles and stressful lives, which is causing increased levels of stress to the human heart. The growth of the market for cardiovascular treatment will, subsequently, drive the growth of the global medical tourism market during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the medical tourism market size and actionable market insights on post COVID-19 impact on each segment.

 

Medical Tourism Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 16.04%

Market growth 2021-2025

$ 16.88 billion

Market structure

Fragmented

YoY growth (%)

22.93

Regional analysis

North America, APAC, Europe, MEA, and South America

Performing market contribution

North America at 32%

Key consumer countries

US, South Korea (Republic of Korea), Turkey, Thailand, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Companies profiled

Anadolu Medical Center, Asian Heart Institute, Asklepios Kliniken GmbH and Co. KGaA, Bangkok Dusit Medical Services Public Co. Ltd., Bumrungrad Hospital Public Co. Ltd., Clemenceau Medical Center, Cleveland Clinic, Fortis Healthcare Ltd., Prince Court Medical Centre Sdn Bhd, and The Johns Hopkins Health System Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Factors Covered in this Medical Tourism Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive medical tourism market growth during the next five years
  • Precise estimation of the medical tourism market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the medical tourism industry across North America, APAC, Europe, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of medical tourism market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The medical tourism market growth will increase by $16882.49 million during 2020-2025.
The medical tourism market is expected to grow at a CAGR of 16.04% during 2020-2025.
Technavio has segmented the medical tourism market by other1 (Cardiovascular treatment, Cosmetic treatment, Fertility treatment, Orthopedics treatment, and Others) and geographic (North America, APAC, Europe, MEA, and South America).
Anadolu Medical Center, Asian Heart Institute, Asklepios Kliniken GmbH and Co. KGaA, Bangkok Dusit Medical Services Public Co. Ltd., Bumrungrad Hospital Public Co. Ltd., Clemenceau Medical Center, Cleveland Clinic, Fortis Healthcare Ltd., Prince Court Medical Centre Sdn Bhd, The Johns Hopkins Health System Corp. are a few of the key vendors in the medical tourism market.
North America will register the highest growth rate of 32.1% among the other regions. Therefore, the medical tourism market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • South Korea (Republic of Korea)
  • Turkey
  • Thailand
  • Germany
The key factors driving the medical tourism market growth are:
  • Availability of low-cost treatment options
The medical tourism market vendors should focus on grabbing business opportunities from the cardiovascular treatment segment as it accounted for the largest market share in the base year.
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