Global Medical Tourism Market Share, emerging trends, growth dynamics to 2027

Availability of superior surgical procedures like cosmetic surgery, dental surgery, orthopedic and cardiovascular surgery will drive the global medical tourism market growth. The medical tourism sector of developing nations is steadily getting in par with that in developed nations. However, treatments offered across emerging regions are more affordable.

According to Global Market Insights, the medical tourism market size is expected to exceed USD 37.2 billion by 2027 and is expected to reach a growth rate of 12.1% during the analysis timeframe. Prominent players operating in the market include KPJ Healthcare Berhad, Asklepios Kliniken GmbH, Bumrungrad International Hospital, Apollo Hospitals, and Fortis Healthcare among others.

Highlighting some of the trends boosting the market growth

  1. Availability of innovative healthcare solutions

The medical tourism market is gaining grip in view of availability of modern and superior surgical procedures in areas like cosmetic, orthopedic, cardiovascular, and dental surgery. The sector also comprises of well skilled healthcare employees that are proficient in advanced and sophisticated procedures.

In India, the success rate in cardiovascular surgeries is around 98%, which is among the highest attainable rate in any emerging country. Meanwhile, Turkey is one of the well-known centers for hair restoration procedures. Developing countries are constantly focusing on offering more advanced and sophisticated medical procedures at minimal cost, an aspect that might escalate the medical tourism sector outlook in the coming years. 

To access sample pages of this report titled, “Medical Tourism Market Size By Application (Cardiovascular Surgery, Cosmetic Surgery {Hair Transplant, Breast Augmentation}, Dental Surgery, Orthopedic Surgery, Bariatric Surgery, Fertility Treatment, Oncology Treatment), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027” in detail along with the table of contents, please click on the link below:

  1. Need for cardiovascular surgeries in the U.S

The cardiovascular surgery segment held for more than 14% of the total market share. The number of coronary artery diseases in the U.S, have increased exponentially in recent years. Growing adoption of sedentary lifestyle habits including lack of exercise along with an unhealthy diet are some of the major contributors to rise in cases of coronary artery diseases.

According to a report published by the American Heart Association (AHA) on heart disease and stroke statistics in 2017, about 90 million people suffer from coronary heart disease annually in the U.S. Moreover, the expenditure of cardiovascular surgery treatment in the U.S. is about USD 125,000. Availability of high-quality cardiac surgeries at low cost could encourage patients to engage in medical travel to developing nations.

  1. North America to emerge as a lucrative revenue growth

Accessibility to advanced medical device and treatment procedures will serve as a major impact favoring the growth of the North America medical tourism market growth across the forecast timeframe. The region’s medical tourism sector is expected to grow at a lucrative pace of 8.6% during the forecast timeframe. Growing demand for minimal invasive procedures, mostly to treat obesity, as well as large-scale availability of specialized healthcare professional across countries like Canada will favor industry growth.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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