Medical Tourism describes patients traveling overseas to receive medical attention. In the early years, this generally referred to those who travel from less-developed nations to major medical facilities in more developed nations, especially for treatment not available at home. Today, medical tourism refers to those seeking medical attention from clinics and hospitals outside their own country.
The market of medical tourism is witnessing strong growth on the account of lack of medical insurance. Moreover, expansion of internet and online advertising across rural areas has made 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.
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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).
Growing initiatives by government for expanding medical tourism is driving growth of the global medical tourism market.
Government of various countries are taking initiative for medical tourism to provide better 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.
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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 leading 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 witnessing fastest growth in the global medical tourism market due to growing government initiative for medical tourism. 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 – Competitive Landscape
Key players engaged 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.
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Table of Contents
- Research Objective and Assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Overview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Treatment Type
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Market Trends
- Key Developments
- PEST Analysis
- Market Dynamics
- 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)
- Introduction
- 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
- Introduction
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