Medical Tourism Market is Expanding due to Cutting-Edge Medical Facilities, High Treatment Costs For Treatment Of Chronic Illnesses, Expansion Of The Medical Industry, And Rising Shift Of Patients
Reports and Data has recently added a new research report titled “Medical Tourism Market, By Treatment Type (Dental Treatment, Cosmetic Treatment, Cardiovascular Treatment, Orthopedic Treatment, Neurological Treatment, Oncology (Cancer) Treatment, Fertility Treatment, Ophthalmic Treatment, Bariatric Treatment), and By Region Forecast to 2028” to its wide database that offers extensive information about the Medical Tourism market with regards to market share, market size, revenue growth, global and regional reach, and product portfolio offered by the market. The report focuses on current and emerging trends in the healthcare industry such as incorporation of IoT and ML to enhance efficiency of medical products. Top companies in the market are focusing on R&D activities to expand their product offerings and cater to unmet medical needs of the global population.
Growth in the historic period resulted from the rapid growth in the elderly population, strong economic growth in emerging markets, decline in oil prices, and health insurance reforms globally. Factors that negatively affected growth in the historic period were low healthcare access, shortages of skilled human resources, difficulty in manufacturing biologics, and regulatory changes.
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Going forward, faster economic growth, technological developments and the increasing prevalence of diseases due to rising busy and sedentary lifestyles will drive the growth. Factors that could hinder the growth of this market in the future are rising interest rates, increasing awareness of alternative therapies and natural remedies, government provisions in healthcare services, and stringent government regulations.
North America is the largest market for healthcare, followed by Asia-Pacific, Western Europe and then the other regions. Due to favorable regulations and policies in these regions, healthcare industry is rapidly growing. As the market in developed countries is nearly saturated, market players have shifted their focus toward the developing regions, especially the emerging economies of Asia Pacific.
The prominent factors favoring market growth include increasing launches and initiatives by the market players to provide rapid treatment for addressing the diseases of the patients in the healthcare industry. Market-trend-based strategies for the healthcare market include increasing the adoption of bundled payments, using digital tools, increasing collaborations across industries and companies, focusing on the development of new medicines, and adopting hybrid imaging technology. Players adopted strategies in the healthcare industry include acquiring companies in similar industries to expand their presence and focusing on offering quality products and services.
The competitive landscape section of the report discusses in detail the company overview, product and services portfolio, business expansion plans, production and manufacturing capacity, financial standing, and global market position. It further sheds light on the recent mergers and acquisitions, collaborations, partnerships, corporate and government deals, agreements, and product launches.
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Top companies operating in the market and profiled in the report include:
- Apollo Hospitals Enterprise Limited
- Fortis Healthcare Limited
- KPJ Healthcare Berhad
- Bumrungrad International Hospital
- Aditya Birla Memorial Hospital
- Asian Heart Institute
- Barbados Fertility Center
- NTT Medical Center Tokyo
- Prince Court Medical Centre
- Samitivej PCL
- Seoul National University Hospital
Further, the report segments the Medical Tourism market on the basis of product types, applications, end-use industries, and technology among others. The report offers insights into key factors influencing the revenue growth of the segment and provides information about lucrative investment opportunities to stakeholders, investors, and clients.
Medical Tourism Market Segmentation:
By Treatment Type Outlook (Revenue, USD Billion; 2018-2028)
- Dental Treatment
- Cosmetic Treatment
- Cardiovascular Treatment
- Orthopedic Treatment
- Neurological Treatment
- Oncology (Cancer) Treatment
- Fertility Treatment
- Ophthalmic Treatment
- Bariatric Treatment
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Regional Analysis covers:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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Frequently asked questions addressed in the report:
- What is the revenue growth rate of the global Medical Stethoscopes market over the forecast period?
- What are the major factors driving the growth of the Global Medical Stethoscopes Market?
- What are the key challenges impacting the global Medical Stethoscopes market growth?
- What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?
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