Medical Tourism Market Key Players, Growth, Regions and Forecast to 2032

The medical tourism market would be worth more than US$ 5.2 Billion in 2022. Some of the market’s main drivers are cost savings and extra advantages to visitors such as improved healthcare, new technology, breakthrough medications, sophisticated gadgets, greater hospitality, and personalised care. The size of the medical tourism industry is expected to expand at a CAGR of 30.5% between 2022 and 2032. FMI predicts that the market will be worth US$ 75 Billion by 2032. The global medical tourism industry’s growth is likely to be attributed to:

The main reason for medical tourism in the East is the availability of less expensive treatment choices abroad without sacrificing the overall standard and quality of healthcare services. Government aid has been motivated by the sector's important contribution to revenue production across developing economies.

In addition, a number of government and non-government organisations support initiatives to promote medical travel. Their efforts serve as a barometer for opportunities in the industry. To assert Thailand's place in the global medical tourism landscape, for instance, the Tourism Authority of Thailand launched a very successful e-campaign a few years back. In addition, a number of efforts are started in India to promote yoga and spiritual institutions there.

Request a sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-249

key takeaways :

The U.S. is expected to lead in terms of healthcare travel spending, however, in the coming years China’s spending is forecast to surge considerably

Among services offered under medical tourism, therapeutic services are highly sought-after. Wellness services too are gaining traction as an increasing number of medical tourists are seeking meditation and wellness retreats

Phone and online booking will remain more preferred modes of booking for medical tourism

Medical tourism is often sought for cancer and cardiovascular treatment. Besides this, cosmetics and bariatric procedures are very popular among medical tourists

Medical Tourism Shows Resilience amid COVID-19

While the unprecedented COVID-19 outbreak might have caused significant disruptions, recovery is on card, thanks to prompt response by governments around the world. Thailand’s response to the ongoing pandemic, for instance, has won praise from the United Nations, the World Health Organization, and other experts around the world. Thailand has been ranked among the top five countries among 184 in terms of the effectiveness of their battle against the virus.

Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-249

According to the Thailand Board of Investment, more than 50 applications for investments, worth over US$ 400 million were submitted during the first half of 2020 to introduce a range of novel measures, accelerating investment in the medical sector. Proactive steps taken by government and non-government organizations will enable the medical tourism market sail despite losses incurred during COVID-19.

Who is winning?

Medical tourism market is expanding at a fast rate. Tier 1 companies such as AsklepiosKlinikenGmbH, Bangkok DusitMedical Services, Fortis Healthcare Limited, Apollo Healthcare, BumrugrandInternational Hospitals, ChristusMughuerza, and others contribute nearly 6% to 17% of revenue generated by the market.

Tier 2 companies operating in the market include Asian Heart Institute, Prince Court Medical Center, ShouldiceHospital, Gleneagles Hospital, ClemenceuMedical Centre, AnadoluMedical Centre, and others. These companies account for the lion’s share of the global market.

Key Segments

Americas

Global Healthcare Connections, Inc.

Christus Muguerza S.A.P.I De CV

Shouldice Hospital

Europe

Asklepios Kliniken GmbH

Asia-Pacific

Fortis Healthcare Ltd

Apollo Hospitals

Gleneagles Hospital

Bumrungrad international Hospital