Medical tourism is referred to as travelling to another country for medical care. Mostly the medical tourism is referred to the travel of patients from less-developed countries to developed nations in pursuit of the treatment which is not available in their homeland. However, the market is currently experiencing a paradigm shift in patient’s mobility, as many people travel from developed countries to developing countries for cost constraints reasons. Therefore the market for medical tourism is spurring in developing countries. The Global Medical Tourism Market accounted for US$ 110.458 billion in 2020 and is estimated to be US$ 198.855 billion by 2030 and is anticipated to register a CAGR of 6.1%.
The report "Medical Tourism Market, By Treatment Type (Cosmetic Treatment, Dental Treatment, Cardiovascular Treatment, Orthopedics, Bariatric Surgery, Fertility Treatment, Ophthalmic Treatment, and Other Treatments), and Region - Global Forecast to 2030". The current most trending factor which drives the medical tourism market is the high cost of medical treatment in developed countries and their availability at low price in other countries. Additionally, based on advanced technologies South Korea is recognized to have the best medical facilities for aesthetic procedures which is another propelling factor for the growth of the global market. Moreover, availability of most advanced technology, better-quality care for medically necessary procedures, quicker access for medically necessary procedures, and lower-cost care for discretionary procedures is the boosting factor for the growth of the target market.
Key Highlights:
In 2018, Apollo Pharmacy, the nation’s largest branded pharmacy network opened its 3000th retail unit at Seevaram, Thuraipakkam, and Chennai.
Key Market Insights from the report:
The global medical tourism market accounted for the US $170.07Mn in 2018 and is projected to register a moderate CAGR of 5% over the forecast period. The market report has been segmented based on treatment type and region.
By treatment type, the global medical tourism market is segmented into cosmetic treatment, dental treatment, cardiovascular treatment, orthopedics, bariatric surgery, fertility treatment, ophthalmic treatment, and other treatments
By region,Asia-Pacific is projected to lead the global medical tourism market and is expected to remain dominant during the forecast period, due rise indemand for cosmeticsurgery, dental treatment and fertility treatment.
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The prominent player operating in the global medical tourism market includes Medretreat, Healthbase, Apollo Hospitals, KPJ Healthcare Behard, Klinikum Medical Link, Euromedical Tours, BB Health Solutions, and Cosmetic Travel
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