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The Medical Tourism Market size is forecast to reach $27.38 billion by 2024, growing at a CAGR of 8.17% during 2019-2024. The medical tourism market growth is characterized by the advancement of medical technology in foreign nations. There is a rise in awareness of people regarding the price difference between their nation and other foreign nations. These factors can grow the overall medical tourism market considerably. Some of the most common procedures that is done by people that travel for treatments are: dental tourism for dental treatment and dental reconstruction, fertility tourism for fertility treatment, plastic surgery tourism for cosmetic surgery, gender reassignment surgeries, cancer treatment, orthopedic treatment, neurological disease treatment and elective surgery.
Key Takeaways
- The Asia-Pacific Region currently dominates the medical tourism market since there is a considerable treatment price difference from other countries. More regions are profiled in the report. The medical tourism market scope for different regions is also given in the final report.
- Cheaper options for treating various diseases is the major driver for the market. Other significant market drivers also mentioned in report. Medical tourism market trends are also provided.
- Increase in the travel difficulties is considered as a significant market challenge. Other market challenges mentioned in final report.
Medical Tourism Market Segment Analysis - Treatment Type
The cancer treatment segment is estimated to have the highest growth rates during the forecast years. This segment is projected to grow at a CAGR of 9.4% during the forecast period. This is owing to the rising incidences of cancer and the significant treatment price differences between the countries. The reduced cost of cancer treatment in certain countries will create a boost in the market for medical health tourism for cancer treatment.
Medical Tourism Market Segment Analysis - Geography
Currently, APAC Countries dominate the medical tourism market share with a region share of 42% since there is a considerable price difference for various treatments in the region without compromising on the quality. Moreover, there is always a considerable development for medical infrastructure in these countries further boosting the medical tourism market demand in the region. Some of the popular countries in the APAC region for medical and wellness tourism are: India, Thailand, South Korea, Singapore and Malaysia. These countries are popular as medical destinations since the medical services offered by them are typically on par with developed nations in terms of quality with a significantly lower price range.
Medical Tourism Market Drivers
Cheaper Treatment Options
This market is mainly driven by the significant differences in prices between the different countries. Countries in the APAC region have much cheaper treatment options as compared to the treatment prices of certain countries in the developed world. This encourages people from these countries to travel to these countries in order to complete their treatment for a much cheaper price than what they would have to pay for in their country.
Availability of Better Technology and Professionals
There has been a rapid change in the development of medical technology for developing nations and there has also been a rise in the skilled professionals in the medical field resulting in a market boost. In some instances, the medical technology as well as the skills of the professional is considered as more advanced as compared to certain developed nations.
Medical Tourism Market Challenges –
Difficulties Associated with Travel
The difficulties associated with travel such as language barriers, documentation and VISA approval issues can be considered as a significant challenge faced by the market. Such difficulties may discourage people from seeking medical attention from a foreign nation. Also, difficulties in insurance reimbursement from foreign hospitals can also act as a challenge for the growth of this market.
Medical Tourism Market outlook
Service launches and Agreements are some of the key strategies adopted by the players in the medical tourism market. Key players in the Medical Tourism Market such as Galenia Hospital, Hospital San Jos, Mdica Sur, Star Mdica, Bumrungrad International Hospital, Apollo Hospitals Enterprise Ltd., Asian Heart Institute, Seoul National University Hospital, Barbados Fertility Center and Aditya Birla Memorial Hospital, among others are considered for medical tourism market industry analysis.
Agreements/Service Launches
- On June 2019, Nirali Memorial Medical Trust set up a multi-specialty hospital in Gujarat and have signed an agreement with Apollo Hospitals Group to manage and operate it.
- On October 2017, The San Jose Hospital introduced its new operating rooms equipped with modern facilities for offering comfortable and modern spaces for both patients and visitors.
1. Medical Tourism Market - Overview
1.1 Definitions and Scope
2. Medical Tourism Market - Executive summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key Trends by type of Application
2.3 Key Trends segmented by Geography
3. Medical Tourism Market
3.1 Comparative analysis
3.1.1 Product Benchmarking - Top 10 companies
3.1.2 Top 5 Financials Analysis
3.1.3 Market Value split by Top 10 companies
3.1.4 Patent Analysis - Top 10 companies
3.1.5 Pricing Analysis
4. Medical Tourism Market - Startup companies Scenario Premium
4.1 Top 10 startup company Analysis by
4.1.1 Investment
4.1.2 Revenue
4.1.3 Market Shares
4.1.4 Market Size and Application Analysis
4.1.5 Venture Capital and Funding Scenario
5. Medical Tourism Market - Industry Market Entry Scenario Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case studies of successful ventures
5.4 Customer Analysis - Top 10 companies
6. Medical Tourism Market Forces
6.1 Drivers
6.2 Constraints
6.3 Challenges
6.4 Porters five force model
6.4.1 Bargaining power of suppliers
6.4.2 Bargaining powers of customers
6.4.3 Threat of new entrants
6.4.4 Rivalry among existing players
6.4.5 Threat of substitutes
7. Medical Tourism Market - Strategic analysis
7.1 Value chain analysis
7.2 Opportunities analysis
7.3 Product life cycle
7.4 Suppliers and distributors Market Share
8. Medical Tourism Market - By Type (Market Size -$Million / $Billion)
9. Medical Tourism Market - By Treatment Type (Market Size -$Million / $Billion)
9.1 And Forecast
9.2 Cardiovascular Treatment
9.3 Orthopedic Treatment
9.4 Neurological Treatment
9.5 Cancer Treatment
9.6 Fertility Treatment
9.7 Other General Treatment
10. Medical Tourism - By Application (Market Size -$Million / $Billion)
11. Medical Tourism - By Geography (Market Size -$Million / $Billion)
11.1 Medical Tourism Market - North America Segment Research
11.2 North America Market Research (Million / $Billion)
11.2.1 Segment type Size and Market Size Analysis
11.2.2 Revenue and Trends
11.2.3 Application Revenue and Trends by type of Application
11.2.4 Company Revenue and Product Analysis
11.2.5 North America Product type and Application Market Size
11.2.5.1 U.S
11.2.5.2 Canada
11.2.5.3 Mexico
11.2.5.4 Rest of North America
11.3 Medical Tourism- South America Segment Research
11.4 South America Market Research (Market Size -$Million / $Billion)
11.4.1 Segment type Size and Market Size Analysis
11.4.2 Revenue and Trends
11.4.3 Application Revenue and Trends by type of Application
11.4.4 Company Revenue and Product Analysis
11.4.5 South America Product type and Application Market Size
11.4.5.1 Brazil
11.4.5.2 Venezuela
11.4.5.3 Argentina
11.4.5.4 Ecuador
11.4.5.5 Peru
11.4.5.6 Colombia
11.4.5.7 Costa Rica
11.4.5.8 Rest of South America
11.5 Medical Tourism- Europe Segment Research
11.6 Europe Market Research (Market Size -$Million / $Billion)
11.6.1 Segment type Size and Market Size Analysis
11.6.2 Revenue and Trends
11.6.3 Application Revenue and Trends by type of Application
11.6.4 Company Revenue and Product Analysis
11.6.5 Europe Segment Product type and Application Market Size
11.6.5.1 U.K
11.6.5.2 Germany
11.6.5.3 Italy
11.6.5.4 France
11.6.5.5 Netherlands
11.6.5.6 Belgium
11.6.5.7 Denmark
11.6.5.8 Spain
11.6.5.9 Rest of Europe
11.7 Medical Tourism - APAC Segment Research
11.8 APAC Market Research (Market Size -$Million / $Billion)
11.8.1 Segment type Size and Market Size Analysis
11.8.2 Revenue and Trends
11.8.3 Application Revenue and Trends by type of Application
11.8.4 Company Revenue and Product Analysis
11.8.5 APAC Segment - Product type and Application Market Size
11.8.5.1 China
11.8.5.2 Australia
11.8.5.3 Japan
11.8.5.4 South Korea
11.8.5.5 India
11.8.5.6 Taiwan
11.8.5.7 Malaysia
11.8.5.8 Hong kong
11.8.5.9 Rest of APAC
11.9 Medical Tourism - Middle East Segment and Africa Segment Research
11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
11.10.1 Segment type Size and Market Size Analysis
11.10.2 Revenue and Trend Analysis
11.10.3 Application Revenue and Trends by type of Application
11.10.4 Company Revenue and Product Analysis
11.10.5 Middle East Segment Product type and Application Market Size
11.10.5.1 Israel
11.10.5.2 Saudi Arabia
11.10.5.3 UAE
11.10.6 Africa Segment Analysis
11.10.6.1 South Africa
11.10.6.2 Rest of Middle East & Africa
12. Medical Tourism Market - Entropy
12.1 New product launches
12.2 M&A s, collaborations, JVs and partnerships
13. Medical Tourism Market - Industry / Segment Competition landscape Premium
13.1 Market Share Analysis
13.1.1 Market Share by Country- Top companies
13.1.2 Market Share by Region- Top 10 companies
13.1.3 Market Share by type of Application - Top 10 companies
13.1.4 Market Share by type of Product / Product category- Top 10 companies
13.1.5 Market Share at global level - Top 10 companies
13.1.6 Best Practises for companies
14. Medical Tourism Market - Key Company List by Country Premium
15. Medical Tourism Market Company Analysis
15.1 Market Share, Company Revenue, Products, M&A, Developments
15.2 Angeles En Lnea, Sa De Cv
15.3 Centro Mdico Abc
15.4 Galenia Hospital
15.5 Hospital San Jos
15.6 Mdica Sur
15.7 Star Mdica
15.8 Company 8
15.9 Company 9 & More
*Financials would be provided on a best efforts basis for private companies
16. Medical Tourism Market - Appendix
16.1 Abbreviations
16.2 Sources
17. Medical Tourism Market - Methodology
17.1 Research Methodology
17.1.1 Company Expert Interviews
17.1.2 Industry Databases
17.1.3 Associations
17.1.4 Company News
17.1.5 Company Annual Reports
17.1.6 Application Trends
17.1.7 New Products and Product database
17.1.8 Company Transcripts
17.1.9 R&D Trends
17.1.10 Key Opinion Leaders Interviews
17.1.11 Supply and Demand Trends
1.1 Definitions and Scope
2. Medical Tourism Market - Executive summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key Trends by type of Application
2.3 Key Trends segmented by Geography
3. Medical Tourism Market
3.1 Comparative analysis
3.1.1 Product Benchmarking - Top 10 companies
3.1.2 Top 5 Financials Analysis
3.1.3 Market Value split by Top 10 companies
3.1.4 Patent Analysis - Top 10 companies
3.1.5 Pricing Analysis
4. Medical Tourism Market - Startup companies Scenario Premium
4.1 Top 10 startup company Analysis by
4.1.1 Investment
4.1.2 Revenue
4.1.3 Market Shares
4.1.4 Market Size and Application Analysis
4.1.5 Venture Capital and Funding Scenario
5. Medical Tourism Market - Industry Market Entry Scenario Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case studies of successful ventures
5.4 Customer Analysis - Top 10 companies
6. Medical Tourism Market Forces
6.1 Drivers
6.2 Constraints
6.3 Challenges
6.4 Porters five force model
6.4.1 Bargaining power of suppliers
6.4.2 Bargaining powers of customers
6.4.3 Threat of new entrants
6.4.4 Rivalry among existing players
6.4.5 Threat of substitutes
7. Medical Tourism Market - Strategic analysis
7.1 Value chain analysis
7.2 Opportunities analysis
7.3 Product life cycle
7.4 Suppliers and distributors Market Share
8. Medical Tourism Market - By Type (Market Size -$Million / $Billion)
9. Medical Tourism Market - By Treatment Type (Market Size -$Million / $Billion)
9.1 And Forecast
9.2 Cardiovascular Treatment
9.3 Orthopedic Treatment
9.4 Neurological Treatment
9.5 Cancer Treatment
9.6 Fertility Treatment
9.7 Other General Treatment
10. Medical Tourism - By Application (Market Size -$Million / $Billion)
11. Medical Tourism - By Geography (Market Size -$Million / $Billion)
11.1 Medical Tourism Market - North America Segment Research
11.2 North America Market Research (Million / $Billion)
11.2.1 Segment type Size and Market Size Analysis
11.2.2 Revenue and Trends
11.2.3 Application Revenue and Trends by type of Application
11.2.4 Company Revenue and Product Analysis
11.2.5 North America Product type and Application Market Size
11.2.5.1 U.S
11.2.5.2 Canada
11.2.5.3 Mexico
11.2.5.4 Rest of North America
11.3 Medical Tourism- South America Segment Research
11.4 South America Market Research (Market Size -$Million / $Billion)
11.4.1 Segment type Size and Market Size Analysis
11.4.2 Revenue and Trends
11.4.3 Application Revenue and Trends by type of Application
11.4.4 Company Revenue and Product Analysis
11.4.5 South America Product type and Application Market Size
11.4.5.1 Brazil
11.4.5.2 Venezuela
11.4.5.3 Argentina
11.4.5.4 Ecuador
11.4.5.5 Peru
11.4.5.6 Colombia
11.4.5.7 Costa Rica
11.4.5.8 Rest of South America
11.5 Medical Tourism- Europe Segment Research
11.6 Europe Market Research (Market Size -$Million / $Billion)
11.6.1 Segment type Size and Market Size Analysis
11.6.2 Revenue and Trends
11.6.3 Application Revenue and Trends by type of Application
11.6.4 Company Revenue and Product Analysis
11.6.5 Europe Segment Product type and Application Market Size
11.6.5.1 U.K
11.6.5.2 Germany
11.6.5.3 Italy
11.6.5.4 France
11.6.5.5 Netherlands
11.6.5.6 Belgium
11.6.5.7 Denmark
11.6.5.8 Spain
11.6.5.9 Rest of Europe
11.7 Medical Tourism - APAC Segment Research
11.8 APAC Market Research (Market Size -$Million / $Billion)
11.8.1 Segment type Size and Market Size Analysis
11.8.2 Revenue and Trends
11.8.3 Application Revenue and Trends by type of Application
11.8.4 Company Revenue and Product Analysis
11.8.5 APAC Segment - Product type and Application Market Size
11.8.5.1 China
11.8.5.2 Australia
11.8.5.3 Japan
11.8.5.4 South Korea
11.8.5.5 India
11.8.5.6 Taiwan
11.8.5.7 Malaysia
11.8.5.8 Hong kong
11.8.5.9 Rest of APAC
11.9 Medical Tourism - Middle East Segment and Africa Segment Research
11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
11.10.1 Segment type Size and Market Size Analysis
11.10.2 Revenue and Trend Analysis
11.10.3 Application Revenue and Trends by type of Application
11.10.4 Company Revenue and Product Analysis
11.10.5 Middle East Segment Product type and Application Market Size
11.10.5.1 Israel
11.10.5.2 Saudi Arabia
11.10.5.3 UAE
11.10.6 Africa Segment Analysis
11.10.6.1 South Africa
11.10.6.2 Rest of Middle East & Africa
12. Medical Tourism Market - Entropy
12.1 New product launches
12.2 M&A s, collaborations, JVs and partnerships
13. Medical Tourism Market - Industry / Segment Competition landscape Premium
13.1 Market Share Analysis
13.1.1 Market Share by Country- Top companies
13.1.2 Market Share by Region- Top 10 companies
13.1.3 Market Share by type of Application - Top 10 companies
13.1.4 Market Share by type of Product / Product category- Top 10 companies
13.1.5 Market Share at global level - Top 10 companies
13.1.6 Best Practises for companies
14. Medical Tourism Market - Key Company List by Country Premium
15. Medical Tourism Market Company Analysis
15.1 Market Share, Company Revenue, Products, M&A, Developments
15.2 Angeles En Lnea, Sa De Cv
15.3 Centro Mdico Abc
15.4 Galenia Hospital
15.5 Hospital San Jos
15.6 Mdica Sur
15.7 Star Mdica
15.8 Company 8
15.9 Company 9 & More
*Financials would be provided on a best efforts basis for private companies
16. Medical Tourism Market - Appendix
16.1 Abbreviations
16.2 Sources
17. Medical Tourism Market - Methodology
17.1 Research Methodology
17.1.1 Company Expert Interviews
17.1.2 Industry Databases
17.1.3 Associations
17.1.4 Company News
17.1.5 Company Annual Reports
17.1.6 Application Trends
17.1.7 New Products and Product database
17.1.8 Company Transcripts
17.1.9 R&D Trends
17.1.10 Key Opinion Leaders Interviews
17.1.11 Supply and Demand Trends
LIST OF TABLES
1.Global North America Medical Tourism Market, By Treatment Type Market 2019-2024 ($M)1.1 And Forecast Market 2019-2024 ($M) - Global Industry Research
1.2 Cardiovascular Treatment Market 2019-2024 ($M) - Global Industry Research
1.3 Orthopedic Treatment Market 2019-2024 ($M) - Global Industry Research
1.4 Neurological Treatment Market 2019-2024 ($M) - Global Industry Research
1.5 Cancer Treatment Market 2019-2024 ($M) - Global Industry Research
1.6 Fertility Treatment Market 2019-2024 ($M) - Global Industry Research
2.Global North America Medical Tourism Market, By Treatment Type Market 2019-2024 (Volume/Units)
2.1 And Forecast Market 2019-2024 (Volume/Units) - Global Industry Research
2.2 Cardiovascular Treatment Market 2019-2024 (Volume/Units) - Global Industry Research
2.3 Orthopedic Treatment Market 2019-2024 (Volume/Units) - Global Industry Research
2.4 Neurological Treatment Market 2019-2024 (Volume/Units) - Global Industry Research
2.5 Cancer Treatment Market 2019-2024 (Volume/Units) - Global Industry Research
2.6 Fertility Treatment Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America North America Medical Tourism Market, By Treatment Type Market 2019-2024 ($M)
3.1 And Forecast Market 2019-2024 ($M) - Regional Industry Research
3.2 Cardiovascular Treatment Market 2019-2024 ($M) - Regional Industry Research
3.3 Orthopedic Treatment Market 2019-2024 ($M) - Regional Industry Research
3.4 Neurological Treatment Market 2019-2024 ($M) - Regional Industry Research
3.5 Cancer Treatment Market 2019-2024 ($M) - Regional Industry Research
3.6 Fertility Treatment Market 2019-2024 ($M) - Regional Industry Research
4.South America North America Medical Tourism Market, By Treatment Type Market 2019-2024 ($M)
4.1 And Forecast Market 2019-2024 ($M) - Regional Industry Research
4.2 Cardiovascular Treatment Market 2019-2024 ($M) - Regional Industry Research
4.3 Orthopedic Treatment Market 2019-2024 ($M) - Regional Industry Research
4.4 Neurological Treatment Market 2019-2024 ($M) - Regional Industry Research
4.5 Cancer Treatment Market 2019-2024 ($M) - Regional Industry Research
4.6 Fertility Treatment Market 2019-2024 ($M) - Regional Industry Research
5.Europe North America Medical Tourism Market, By Treatment Type Market 2019-2024 ($M)
5.1 And Forecast Market 2019-2024 ($M) - Regional Industry Research
5.2 Cardiovascular Treatment Market 2019-2024 ($M) - Regional Industry Research
5.3 Orthopedic Treatment Market 2019-2024 ($M) - Regional Industry Research
5.4 Neurological Treatment Market 2019-2024 ($M) - Regional Industry Research
5.5 Cancer Treatment Market 2019-2024 ($M) - Regional Industry Research
5.6 Fertility Treatment Market 2019-2024 ($M) - Regional Industry Research
6.APAC North America Medical Tourism Market, By Treatment Type Market 2019-2024 ($M)
6.1 And Forecast Market 2019-2024 ($M) - Regional Industry Research
6.2 Cardiovascular Treatment Market 2019-2024 ($M) - Regional Industry Research
6.3 Orthopedic Treatment Market 2019-2024 ($M) - Regional Industry Research
6.4 Neurological Treatment Market 2019-2024 ($M) - Regional Industry Research
6.5 Cancer Treatment Market 2019-2024 ($M) - Regional Industry Research
6.6 Fertility Treatment Market 2019-2024 ($M) - Regional Industry Research
7.MENA North America Medical Tourism Market, By Treatment Type Market 2019-2024 ($M)
7.1 And Forecast Market 2019-2024 ($M) - Regional Industry Research
7.2 Cardiovascular Treatment Market 2019-2024 ($M) - Regional Industry Research
7.3 Orthopedic Treatment Market 2019-2024 ($M) - Regional Industry Research
7.4 Neurological Treatment Market 2019-2024 ($M) - Regional Industry Research
7.5 Cancer Treatment Market 2019-2024 ($M) - Regional Industry Research
7.6 Fertility Treatment Market 2019-2024 ($M) - Regional Industry Research
LIST OF FIGURES
1.US North America Medical Tourism Market Revenue, 2019-2024 ($M)2.Canada North America Medical Tourism Market Revenue, 2019-2024 ($M)
3.Mexico North America Medical Tourism Market Revenue, 2019-2024 ($M)
4.Brazil North America Medical Tourism Market Revenue, 2019-2024 ($M)
5.Argentina North America Medical Tourism Market Revenue, 2019-2024 ($M)
6.Peru North America Medical Tourism Market Revenue, 2019-2024 ($M)
7.Colombia North America Medical Tourism Market Revenue, 2019-2024 ($M)
8.Chile North America Medical Tourism Market Revenue, 2019-2024 ($M)
9.Rest of South America North America Medical Tourism Market Revenue, 2019-2024 ($M)
10.UK North America Medical Tourism Market Revenue, 2019-2024 ($M)
11.Germany North America Medical Tourism Market Revenue, 2019-2024 ($M)
12.France North America Medical Tourism Market Revenue, 2019-2024 ($M)
13.Italy North America Medical Tourism Market Revenue, 2019-2024 ($M)
14.Spain North America Medical Tourism Market Revenue, 2019-2024 ($M)
15.Rest of Europe North America Medical Tourism Market Revenue, 2019-2024 ($M)
16.China North America Medical Tourism Market Revenue, 2019-2024 ($M)
17.India North America Medical Tourism Market Revenue, 2019-2024 ($M)
18.Japan North America Medical Tourism Market Revenue, 2019-2024 ($M)
19.South Korea North America Medical Tourism Market Revenue, 2019-2024 ($M)
20.South Africa North America Medical Tourism Market Revenue, 2019-2024 ($M)
21.North America North America Medical Tourism By Application
22.South America North America Medical Tourism By Application
23.Europe North America Medical Tourism By Application
24.APAC North America Medical Tourism By Application
25.MENA North America Medical Tourism By Application
26.Galenia Hospital, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Centro Mdico Abc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Mdica Sur, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Star Mdica, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Angeles En Lnea, Sa De Cv, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Hospital San Jos, Sales /Revenue, 2015-2018 ($Mn/$Bn)