Medical Tourism Market Set to Achieve a Valuation of US$ 80.07 Billion, Riding on a 24.7 % CAGR From 2024 to 2032 - PMR

Growing healthcare costs and the rising number of individuals seeking medical care abroad have resulted in increased demand for medical tourism.

NEW YORK CITY, NY, UNITED STATES, October 2, 2024 /EINPresswire.com/ -- Our comprehensive research report on medical tourism offers an in-depth analysis of the market trends, drivers, recent developments, and competitive landscape.

𝐀𝐜𝐜𝐨𝐫𝐝𝐢𝐧𝐠 𝐭𝐨 𝐨𝐮𝐫 𝐥𝐚𝐭𝐞𝐬𝐭 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬, 𝐭𝐡𝐞 𝐦𝐞𝐝𝐢𝐜𝐚𝐥 𝐭𝐨𝐮𝐫𝐢𝐬𝐦 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐩𝐨𝐢𝐬𝐞𝐝 𝐭𝐨 𝐠𝐫𝐨𝐰 𝐚𝐭 𝐚 𝐫𝐨𝐛𝐮𝐬𝐭 𝐂𝐀𝐆𝐑 𝐨𝐟 24.7% 𝐟𝐫𝐨𝐦 2024 𝐭𝐨 2032. 𝐓𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 𝐔𝐒𝐃 11.20 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 2023 𝐚𝐧𝐝 𝐢𝐬 𝐚𝐧𝐭𝐢𝐜𝐢𝐩𝐚𝐭𝐞𝐝 𝐭𝐨 𝐠𝐫𝐨𝐰 𝐭𝐨 𝐔𝐒𝐃 80.07 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 2032.

𝐖𝐡𝐚𝐭 𝐈𝐬 𝐌𝐞𝐝𝐢𝐜𝐚𝐥 𝐓𝐨𝐮𝐫𝐢𝐬𝐦?
Medical tourism is the process of traveling outside the home country to receive medical care. Originally, the term referred to the travel of patients from less-developed countries to developed nations to seek treatments not available in their homeland. With time, there has been a quantitative and qualitative shift in patient travel, with patients from developed nations now visiting less-developed countries to seek health services. This is because treatment costs in developing nations may be less as compared to developed nations.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.polarismarketresearch.com/industry-analysis/medical-tourism-market/request-for-sample

Medical tourists undergo a wide range of procedures and treatments, with the most common ones being cosmetic surgery, fertility treatments, cosmetic surgery, and organ and tissue transplantation. Depending on the condition type, treatment plan, and visiting country, the treatment may be offered by a private or public service provider. With advancements in healthcare technology and the rising need for specialized treatments, the medical tourism market demand is anticipated to rise.

𝐖𝐡𝐚𝐭 𝐀𝐫𝐞 𝐊𝐞𝐲 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬?
• The medical tourism market size was valued at USD 11.20 billion in 2023 and is projected to grow to USD 80.07 billion by 2032.

• The availability of privately owned, internationally recognized providers has resulted in a rising number of people seeking medical treatments abroad.
• The market segmentation is primarily based on treatment type, service provider, and region.

• The key regions covered in the research report are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐁𝐞𝐟𝐨𝐫𝐞 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞:
https://www.polarismarketresearch.com/industry-analysis/medical-tourism-market/request-for-discount-pricing

𝐖𝐡𝐨 𝐈𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬?
• Apollo Hospitals Enterprise Ltd.
• Bangkok Hospital
• Bumrungrad International Hospital
• Dr. B. L. Kapur Memorial Hospital
• Kasemrad Hospital International Rattanathibet
• Miot Hospital
• Mission Hospital
• MOHW Hengchun Tourism Hospital
• Mount Elizabeth Hospitals
• Penang Adventist Hospital
• Raffles Medical Group

are some of the medical tourism market key players. These industry players are constantly upgrading their technologies to stay ahead of the competition.
Also, they are focusing on strategic developments to garner a larger market share.

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐭𝐨𝐩 𝐦𝐚𝐫𝐤𝐞𝐭 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐚𝐫𝐞:
• In February 2023, Penang announced its plans to enhance its medical tourism sector through a strategic partnership between Penang Adventist Hospital and Firefly Airlines.

• In January 2023, the India Tourism Development Corporation signed a Memorandum of Understanding (MOU) with the Ministry of Ayush to boost medical tourism in Ayurveda and other traditional medical systems.

𝐖𝐡𝐚𝐭’𝐬 𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐅𝐨𝐫𝐰𝐚𝐫𝐝?
Elevated Medical Expenses: In developing nations, individuals can get access to medical care at comparatively lower costs than in developed countries. Along with being affordable, these medical tourism services are of high quality as resources are available at comparatively lower prices. As such, more people relocate to developing nations to seek healthcare services, impacting the medical tourism market demand favorably.

Absence of Insurance Coverage: Insurance providers in several nations like the US typically exclude coverage for several elective surgeries such as cosmetic, weight loss, and certain dental procedures. The lack of coverage or limited availability prompts individuals to seek treatments in nations where they are affordably priced.

Government Support: Several governments worldwide are using diverse strategies to promote health and wellness tourism within their borders. The presence of robust government support is anticipated to foster the expansion of the medical tourism market.

𝐖𝐡𝐢𝐜𝐡 𝐑𝐞𝐠𝐢𝐨𝐧 𝐋𝐞𝐚𝐝𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐞𝐦𝐚𝐧𝐝?
Asia Pacific: Asia Pacific accounted for the largest medical tourism market share in 2023. This is primarily because medical care in Asia Pacific is more than 90% cheaper as compared to the US. Also, Asia Pacific has the presence of some of the most favored tourist destinations distributed across several countries in the region.

North America: North America is anticipated to account for a significant revenue share from 2024 to 2032. Countries such as the US and Canada are widely known for their stringent healthcare standards. Also, numerous facilities in North America hold international accreditation, resulting in increased patient trust in medical procedures.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐦𝐨𝐫𝐞 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐁𝐞𝐟𝐨𝐫𝐞 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞:
https://www.polarismarketresearch.com/industry-analysis/medical-tourism-market/inquire-before-buying

𝐇𝐨𝐰 𝐈𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐃𝐨𝐧𝐞?
By Treatment Type Outlook
• Cosmetic Treatment
• Bariatric Treatment
• Dental Treatment
• Cardiovascular Treatment
• Orthopedic Treatment
• Ophthalmology Treatment
• Infertility Treatment
• Alternative Medicine
• Others

By Service Provider Outlook
• Private
• Public

By Region Outlook
• North America (US, Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

𝐁𝐫𝐨𝐰𝐬𝐞 𝐏𝐌𝐑'𝐬 𝐌𝐞𝐝𝐢𝐜𝐚𝐥 𝐓𝐨𝐮𝐫𝐢𝐬𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞 𝐟𝐫𝐨𝐦 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐭 𝐏𝐮𝐛𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬:

𝐌𝐞𝐝𝐢𝐜𝐚𝐥 𝐓𝐨𝐮𝐫𝐢𝐬𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐢𝐳𝐞 𝐢𝐬 𝐏𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐛𝐞 𝐔𝐒$ 80.07 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 2032, 𝐚𝐭 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 24.7% 𝐟𝐫𝐨𝐦 2024 𝐭𝐨 2032 | 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 (𝐏𝐌𝐑)

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
𝐀𝐈 𝐢𝐧 𝐨𝐧𝐜𝐨𝐥𝐨𝐠𝐲 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.polarismarketresearch.com/industry-analysis/ai-in-oncology-market

𝐒𝐦𝐚𝐫𝐭 𝐏𝐢𝐥𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.polarismarketresearch.com/industry-analysis/smart-pills-market

𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐆𝐞𝐧𝐨𝐦𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.polarismarketresearch.com/industry-analysis/consumer-genomics-market

𝐃𝐲𝐬𝐥𝐞𝐱𝐢𝐚 𝐓𝐫𝐞𝐚𝐭𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.polarismarketresearch.com/industry-analysis/dyslexia-treatment-market

𝐄𝐧𝐝𝐨𝐛𝐫𝐨𝐧𝐜𝐡𝐢𝐚𝐥 𝐕𝐚𝐥𝐯𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.polarismarketresearch.com/industry-analysis/endobronchial-valves-market

𝐀𝐛𝐨𝐮𝐭 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 & 𝐂𝐨𝐧𝐬𝐮𝐥𝐭𝐢𝐧𝐠, 𝐈𝐧𝐜:
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