The medical tourism market is expected to register an income of


New York, USA, December 28, 2021 (GLOBE NEWSWIRE) – According to the report published by Research Dive, the global medical tourism market Is expected to generate revenue of $ 149.34 billion and increase at a CAGR of 12.4% during the forecast period 2019-2026. The comprehensive report provides a brief perspective of the current market framework including key aspects of the market such as growth elements, challenges, restraints, and various opportunities during the anticipated period of 2019-2026. The report also provides all market figures to help new entrants to easily analyze the market.

Market dynamics:

Conductors: Growing research and technological developments in the healthcare industry along with sub-standard prices for high-end medical services are the major factors that are expected to drive the growth of the medical tourism market by 2026. In addition, the Emergence of several hospitals in developing countries and highly qualified physicians across the world is expected to further drive the improvement in the market over the forecast years.

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Opportunities: The increase of healthcare facilities in developed and developing countries along with an increase of several medical advancements in the industry are the factors which are expected to provide more growth opportunities for the medical tourism market during the period of to analyse.

Constraints: Soaring treatment costs billed by private hospitals are putting patients without insurance coverage in dire straits. In addition, the language barrier also contributes to the difficulties faced by foreign patients. These are the key factors estimated to hamper the growth of the market over the forecast years.

Market segments:

The report has divided the medical tourism market into few segments based on type of service and regional analysis.

Type of service: the cancer treatment sub-segment will be the most dominant

By type of service, the cancer treatment sub-segment is expected to have the fastest growth rate with a CAGR of 14.2% during the analysis period. The sub-segment was valued at $ 2,638.0 million in 2018 and is expected to experience significant growth due to the growing number of cancer patients. These patients are actively opting for cancer treatment overseas due to substandard fees, better medical facilities, and trained medical staff. These factors are expected to drive the growth of the medical tourism market sub-segment by 2026.

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Region: Asia-Pacific region will witness huge growth opportunities

According to regional analysis, Asia-Pacific region has the largest market share and is experiencing stable growth. 12.2% CAGR by 2026. The growth is attributed to the affordable and advanced level of medical treatments and machines in countries like India and China. In addition, less stringent government policies regarding tourism in these countries are also expected to provide huge growth opportunities for the medical tourism market in the Asia-Pacific region.

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Major market players:

Some major players in the medical tourism market are

  1. Prince Court Medical Center
  2. Asian Heart Institute
  3. Bumrungrad International Hospital
  4. Apollo Hospitals Enterprise Ltd.
  5. Fortis Health
  6. Aditya Birla Memorial Hospital
  7. UZ Leuven
  8. KPJ Health Berhad
  9. NTT Medical Center
  10. Asklepios Kliniken GmbH, among others.

These key players undertake various strategies such as product development and improvement, mergers and acquisitions, partnerships and collaborations to support the growth of the market.

For example, in December 2021, CureIndia, one of the renowned startups in the dental and medical tourism industry in India, announced its decision to expand its service base across the world and treat more patients than the influx of medical tourists in the midst of the pre-pandemic phase. . The Delhi-based startup had also signed several memoranda of understanding with some of the biggest hospital groups like Medanta, Apollo, Artemis, etc. to accelerate the medical tourism sector in India.

The report also summarizes many important facets including the financial performance of key players in the medical tourism market, SWOT analysis, product portfolio and latest strategic developments.

Besides, the report contains detailed information of Major Business Manufacturers such as SWOT Analysis, Product Portfolio, Financial Status – Learn to Access the Detailed Report on Top Business Development Strategy.

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