New York, USA, July 11 2022 (GLOBE NEWSWIRE) — According to a report by Research Dive, the global medical tourism market is planned to generate $149.34 billion in revenue and grow at a CAGR of 12.4% over the estimated period from 2019 to 2026.
According to our analysts, with the emergence of several hospitals in developing countries to provide treatment at lower cost, the medical tourism market is expected to witness remarkable growth over the analysis period. Moreover, the increasing availability of quality medical care facilities such as treatment with advanced medical techniques, highly qualified doctors, etc. at a reasonable price across the globe is expected to amplify the market growth over the forecast period. However, the lengthy insurance reimbursement process and difficulties with accessories and visa might hamper the market growth throughout the forecast period.
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Segments of the medical tourism market
The report has divided the market into segments based on service type and region.
Type of service: cancer treatment sub-segment will be the most profitable
The cancer treatment sub-segment accounted for $2,638.0 million in 2018 and is expected to grow at a healthy CAGR of 14.2% over the analysis period. This is mainly due to the increasing number of cancer cases among individuals all over the world. Growing initiatives by developed economies to provide better medical facilities at lower cost as cancer patients take longer to heal is expected to propel the growth of the market sub-segment over the forecast period.
Region: The Asia-Pacific region will have vast growth opportunities
The Asia-Pacific region of the medical tourism market is expected to generate revenue of $21,690.2 million in 2018 and grow at a CAGR of 12.2% throughout the forecast period. The growing availability of affordable and advanced processing levels and machinery in this region is expected to boost the regional growth of the market over the analysis period.
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Key players in the medical tourism market
Major players in the medical tourism market include
- NTT Medical Center
- Asklepios Clinic GmbH
- Asian Heart Institute
- KPJ Healthcare Berhad
- UZ Leuven
- Apollo Hospitals Enterprise Ltd
- Aditya Birla Memorial Hospital
- Fortis Health
- Prince Court Medical Center
- Bumrungrad International Hospital
These players are widely working on developing new business strategies and tactics to gain a leading position in the global industry. Inquire here before purchasing the full report.
For example, in October 2021, KPJ Healthcare Berhad, one of Malaysia’s leading private healthcare service providers, announced its collaboration with Rotary International District 3300, the world’s largest network of leaders, problem solvers and managers. friends who take initiative to bring about beneficial change. worldwide. With this collaboration, KPJ Healthcare Berhad aimed to raise awareness about eye care and eye health and provide effective solutions for people suffering from vision problems due to cataracts.
Additionally, the report also summarizes other vital aspects including SWOT analysis, financial performance of key players, product portfolio, and latest strategic developments.
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